Forex

AG Markets Review - Is it scam or safe?

AG Markets Review - is ag-markets.com scam or good forex broker?
2.6 5 RATING
Find Better Forex Broker
1 REVIEWS

Trading Accounts

 

Account type

Minimum deposit

Minimum trade size

Maximum leverage 

Average Spreads

On-Deposit bonus

Basic

$250

0.01

1:400

2.2 pips

20%

Standard

$500

0.01

1:400

N/A

30%

Trading

$1 000

0.01

1:400

N/A

40%

AGM Pro

$5 000

0.01

1:400

N/A

50%

Premium

$25 000

0.01

1:400

1.0 pips

Personalized

 

AG Markets provides various trading accounts, depending on the initial investment. All of them offer variable spreads, commission-free trading, leverage up to 1:400 and the option to trade in micro lots on the MetaTrader 4 platform.

 

The Company. Security of Funds

 

Company

Country

Regulation

 Advanced Global Markets Ltd.

New Zealand

FMA

 

AG Markets is a Forex and CFD broker that was established in 2013 by its CEO, Carlos Ferrer. It has its headquarters in New Zealand and offices in Mexico.

 

The company behind the brand, Advanced Global Markets Ltd., is registered in the Financial Service Provider Register (FSPR) and as such is regulated and supervised by the Financial Markets Authority (FMA). 

 

Forex brokers regulated in New Zealand are required to adhere to a set of standards. Under the FMA client money rules, they must segregate all retail client funds from their operational ones. What is more, they have to follow anti-money laundering regulations.

 

Besides, FMA releases periodic updates and press releases about the state of financial markets and the warnings about potential scams, unregistered business, and deregistered brokers.

 

Trading Conditions

 

Minimum Initial Deposit

The minimum initial deposit required by AG Markets is $250. This is a reasonable amount to start trading with, however other brokers, like IG (initially a UK brokerage that also holds a license with FMA), does not require any minimum deposit.

 

Commission & Spreads

This broker offers commission-free trading and variable spreads. According to its website, the spread for the EUR/USD starts at 0.8 pips, which sounds great. However, when we tried out AG Markets’ practice account, we found out that the spreads are around 2.2 pips for the EUR/USD pair, which is above the average range of 1.0 – 1.5 pips for this pair.

 

In comparison, IG provides spreads averaged 0.8 pips on EUR/USD on its commission-free accounts. You may check out and compare real-time spreads of 15 leading brokers here.

 

Leverage

The maximum leverage level offered by AG Markets is 1:400, which is considered high, yet most brokers usually offer leverage ratios between 1:200 – 1:400. IG, for instance, provides leverage up to 1:200.

 

We advise traders to operate carefully with high leverage levels, because the higher the leverage, the greater the risk of losses, which may even exceed initial investments.

 

Trading Platform

 

As we have mentioned above, AG Markets offers the good old MetaTrader 4 (MT4), available in all forms and shapes.

 

This platform is globally popular for its innovative, on the go trading capabilities, variety of built-in indicators, advanced charting tools, automated trade options (EAs) and extensive back-testing environment. Here is a list of more forex brokers offering MT4 platform.

 

AG Markets’s MT4 web platform. Click to enlarge.

 

Promotion

AG Markets offers various bonuses:

 

- 100% trading bonus (up to a maximum of €/$5,000) to clients with deposits of at least €/$ 1,000. Trading volume requirements apply. For example, If you have deposited $1,000, you get $ 1,000, but you have to trade 200 lots for at least 3 months.

 

- Refer a friend bonus of 10% of the referral’s first deposit. Trading volume requirements apply: you and are required a minimum trade of $20,000 per each $1 bonus.

 

Methods of Payment

 

AG Markets’ clients are offered the following modes of payment: Credit/debit cards, bank wire transfer, e-wallets Skrill, Neteller, SafeCharge, AlgoCharge, MegaTranfer, RegularPay, MoneyNet International, AstroPay, Multibanco and Oxxo.

 

Conclusion

 

AG Markets is looks like a decent broker operating under the licensing and regulation requirements of New Zealand. However, we find its spreads quite high. To sum up the above:

                                                                                                                                            

Pros Cons
Regulated broker High spreads  
MT4 available No choice of trading platforms
No commission fees  
Bonuses available  

 

Forex
Latest news about AG Markets
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Cyprus CySEC MT4, MT5,
cTrader
$300 Review Website
Seychelles FinaCom MT4 $10 Review Website
UK, Cyprus, Bulgaria FCA, CySec, FSC Web $150 Review Website

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Traders` reviews for AG Markets

Loss of investments / Pérdida de inversiones

Perdí unos $54,000 dividido en dos ocasiones. De haber invertido $16,050 ahora tengo $1.87. Son unos estafadores profesionales. Y te siguen pidiendo dinero. Los que manejaron mi cuenta son Wilson Fernández y Diego López de Nueva York.

Translated with Google:


I lost about $ 54,000 divided twice. If I invested $ 16,050 I now have $ 1.87. They are professional swindlers. And they keep asking for money. Those who handled my account are Wilson Fernandez and Diego Lopez of New York.

Francisco Manuel Dexter Bosch 06/17/2017
Forex