Amega broker review: Amega scam or good Forex broker?

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Amega broker review: Amega scam or good Forex broker?

AmegaFX is a forex broker claiming to be an STP/NSDD broker. Claiming that they are offering a wide range of trading tools, great leverage, great promotions and many more features. In this Amega broker review, we will review Amega to see if the service they are providing is really good and if Amega exchange is reputable, so that you can decide if they are the home. Broker is right for you or not.

Amega broker review: Amega scam or good Forex broker?

What is Amega Forex?

The broker Amega providing forex and CFD trading is a young but fast growing company, belonging to 1XCorp NV and offering its services in Russia and CIS countries since the beginning of 2017.

Before 2017, the company operated under the name 1XForex. While there are many companies that offer forex and CFD trading services, Amega fx effectively proves that it can deliver excellent results and fill the trading market if handled properly. The company’s current goal is to expand internationally.

The company’s formula for success is to provide maximum possibilities to traders and trade efficiently. Among its advantages are an excellent choice of trading assets (currencies, metals, cryptocurrencies, CFDs), trading options (different terminals, mobile payments, payments in cryptocurrencies,…), fast technical support, stock availability and special offers for platform users, minimal spreads, good leverage (up to 1:1000), different types of order matching.

Evaluate Amega floor through account types?

We saw a lot of accounts offered by this broker when evaluating Amega broker. There are 8 accounts in total, here is a brief overview amega fx review of each account to see what is on offer.

Premium MT5

The minimum deposit for the Premium MT5 account type is $1,000, you can only deposit in USD, you can use this account with the MetaTrader (MT5) trading platform. Premium MT5 has leverage from 1:1 to 1:1000 and in terms of instruments, there are 34 currencies, 4 metals, 2 CFDs and 4 cryptocurrencies available to trade. There is a floating spread starting from 0.5 pips and a minimum lot size of 0.01. The minimum margin is at 50% and stops at 20%. This account is eligible for promotions and bonuses.

Standard MT5

This is the standard account for the MT5 trading platform. Starting from this account there is no minimum deposit requirement for traders. Floating spreads from 1 pip, no commission and enjoy up to 100% deposit bonus.

Standard MT4

The MT4 standard account is very similar to the standard MT5 account, the main difference being that it uses MetaTrader 4 instead of MetaTrader 5. The base currencies, leverage and no deposit required opening remain the same. In terms of tradable assets, it is slightly different, there are only 27 currency pairs available along with only 2 metals, 0 CFDs and 4 cryptocurrencies. Spreads, margin calls, stops and promotion eligibility remain the same.

Scalper MT5

The scalper account as you might have guessed is the perfect choice for high frequency trading. As a result, the spread is low and currently starts at 0 pips. This account does not require a minimum deposit. This account uses MT5 as its trading platform and leverage is still between 1:1 and 1:1000. Scalper MT5 has 28 currency pairs to trade along with 4 metals, no CFDs and 4 cryptocurrencies. death. Due to the reduced spreads, this account has a commission added to each trade calculated at $2 per lot traded. There is no deposit bonus with this account.

Scalper MT4

The MT4 scalper account is very similar to the MT5 scalper account, in fact, everything is the same except for the number of assets available, there are 27 currencies, 2 metals, no CFDs and 4 cryptocurrencies. Amega recommends this account instead of letting traders use the MT5 platform instead of MT5.

Swapfree MT5

Swap free account. This account works a little differently and has a fixed spread of 2 pips, no deposit bonus and no extra commission. Most other features remain the same including trade size, base currency, stop orders, margin calls, leverage, and a minimum deposit of $0. There are 28 currencies, 4 metals, 0 CFDs and 0 cryptocurrencies to trade.

Mini MT5

The account uses a cent instead of a dollar, so your balance is increased 100 times, so it is suitable for new traders to practice their skills and trading strategies. Apart from this change, it is largely the same as other MT5 accounts except that there is no deposit bonus and due to the nature of the account, the minimum trade size is equivalent to 0.0001 lots. Floating spreads from 0.0 pips and no extra commission for this account. This account can only use USD as base currency.

PAMM Premium MT5

This trading account is for managers in the AMEGA Invest PAMM program.

This account, like all other accounts, uses only USD as the base currency. There is a minimum deposit of $10 required. Leverage is reduced to 1:1 to 1:100 and this account uses the MT5 trading platform. Other features remain the same including stop and margin orders, no bonus, minimum trade size of 0.01 lots and floating spreads starting from 0.5 pips. This is not an account that an individual should use.

Review Amega Forex through trading platform?

There are 2 platforms offered by Amega to their traders, which are:

MetaTrader 4

MT4 is one of the world’s most popular trading platforms, released in 2005 by MetaQuotes Software. MT4 is compatible with hundreds and thousands of different indicators, expert advisors, signal providers and more. MT4 is available as a desktop download, an app for Android and iOS devices and a WebTrader where you can trade from within your internet browser.

MetaTrader 5

MT5 is the next generation software MT4. In addition to owning the utilities of MT4, MT5 also offers more trading features. Like the built-in trading robot market, VPS services or freelance career databases of strategy developers.

MT5 is also highly accessible as it is available as a desktop download, an app for iOS and Android devices, and a WebTrader where you can trade from within your internet browser.

Evaluate Amega exchange through trading products?

There is no complete breakdown of the specific products available, but there is a small breakdown of the quantities available in each account type. For MT5 accounts there are 34 currency pairs, 4 metals and 4 cryptocurrencies to trade. While for MT4 account, there are 27 currency pairs, 2 metals and 4 cryptocurrencies.

When compared to other brokers, the total assets are relatively low.

Evaluate Amega exchange through deposit and withdrawal

When evaluating Amega exchange, it can be seen that they have performed their payment service quite well and are currently providing this service effectively for their customers. So its customers can use various advantages: there are more than 100 kinds of methods to pay, deposit and withdraw for free, users only pay the commission of the payment system (if any)

Bank cards: Visa, MasterCard
E-wallets: Bpay, Perfect Money, Epay, Vcreditos, Jeton, Pastpay, Papara, Sticpay.
Cash: Telepay, Svyaznoy, Amigo
Payment system: ecoPayz
Cryptocurrency Exchange Station: Fast Recharge, Webmoney-Qiwi UZ
Self-service stations: Qiwi, Paymaster.md, Kassa24, Quickpay, Tyme, e-Pay,
Online banking: local bank transfer, Spei, Itau, Banco Frances, BCI, Banco De Chile, Banco do Brasil, etc.
Phone card: AstroPay Card
CEP Bank: Hizli Cepbank
Cryptocurrencies: Bitcoin, Litecoin, Dogecoin, Ethereum, ZCash, Monero, Dash, DigiByte, etc.
For information, all transactions are done as quickly as possible, with maximum protection.

Evaluate the Amega floor through the education center

There is an economic calendar and some economic news on the website but these are all very basic sources and can be found easily on the internet. There is also a forum but it is not used much and does not have many active members. This is a minus point when evaluating Amega broker because their education center is not very useful to traders.

Disadvantages of Amega

Among the biggest disadvantages of rating Amega broker is that this broker is not currently regulated by a financial institution body. And there is no information about the company on the official website, along with the limited presence of the broker in the international market. In general, the company is young and the above factors can make a broker hesitate to decide to trade here.

The 3 pip fixed spread on EUR/USD is more than twice what most brokers currently offer. For example, you can trade with a fixed spread of 1 pip with the CySEC regulated easyMarkets broker.

AMEGA offers its clients 40 currency pairs to trade, along with CFDs on gold and silver. We find such a product category rather limited, as popular financial instruments such as CFDs on indices, stocks and cryptocurrencies (such as Bitcoin and Ripple) are all missing.

Conclude:

After the Amega review, it can be seen that Amega is a broker that offers seemingly attractive trading conditions, such as a popular platform, high leverage, and a wide range of payment options on offer. In addition, most accounts require no initial minimum deposit, nor commission fees.

However, the spreads on these account types are really high. Besides, Amega’s product portfolio is not diversified. And the important thing when evaluating Amega brokers is that they are not regulated by any financial authority and do not mention any information about the company on their website. That’s why traders need to be cautious before dealing with Amega.

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