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AGM Group Review - is it scam or safe?

AGM Group Review - is agm-invest.com scam or good forex broker?

RATING: 1 / 0 REVIEWS AGM Group
AGM Group is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit  Min. trade size  Max. leverage Spread
Micro  $250 0.01 1:500 From 1 pip
Standard  $500 0.01 1:300 From 1 pip
Premium  $25,000 0.1 1:100 From 0.6 pips + $6/€5 per round-turn standard lot
VIP  $100,000 0.1 1:100 From 0.2 pips + $6/€5 per round-turn standard lot

 

Forex brokerage AGM Group offers its clients 4 trading account types and trading on the MT4 platform. If you are wondering whether investing with this broker is a good idea, make sure you read this review prior to signing up and depositing any money. We have major concerns regarding AGM Group

 

Also, keep in mind that this broker is not associated with CySEC-regulated broker AGM Markets, despite the similar sounding names. 

 

 

AGM Group Advantages

 

Competitive spreads, up to 1:500 in leverage

As you can see from the account types & conditions table above, AGM Group’s offer seem attractive. The broker’s spreads are competitive, even on the most basic account type, and the high leverage levels provided will suit all trading strategies.

 

 

Click on the image to zoom in.

 

Besides, when we tested the broker’s MT4 in demo mode, we found the benchmark EUR/USD spread floating around 1.5 pips, which is not bad, as such trading costs are on the upper end of average in the industry. For more information on spreads, check out the link below.

 

 

>> Compare the spreads of some top-tier brokers in real time <<

 

 

MT4 supported

As it already became clear, AGM Group allows you to access the global financial markets via MetaTrader4 (MT4), a platform most traders know well and enjoy using. The reason for this is that this trading terminal has proved to be reliable, user-friendly, and equipped with all functionalities a trader needs. The MT4 is easily customizable, has great charting options, and is especially popular for its automated trading bots (Expert Advisors).

 

If you are one of the many preferring to use the MT4 platform, you’d better select another broker that supports it, as AGM Group is not licensed and not to be trusted.

 

 

>> Find the best MT4 brokers here <<

 

 

An array of CFDs

When we tested AGM Group’s MT4, we also saw that this broker offers wide range of financial instruments for trade. Its product portfolio features many forex pairs and various CFDs – on indices, commodities, stocks, and some of the most popular cryptocurrencies.

 

 

AGM Group Disadvantages

 

No address, no number, no regulation

AGM Group says to be owned and operated by AGM Limited. Any further information on this company, however, is not available on the broker’s website – there is no address, nor contact or registration number.

 

We found out that a company with the same name exists and is registered in the UK, but it is in the Mechanical or Industrial Engineering sector, and also has a different website. So we doubt that forex brokerage AGM Group has anything to do with it.

 

With no regulatory oversight we can’t be certain about the company behind the operation and whether it will fulfill its obligation towards clients. Therefore, we advise our readers to avoid offshore and/or unregulated brokers as a general rule.

 

Tries to mislead investors that it is associated with a legit broker

 

Furthermore, we believe that AGM Group tries to mislead investors that it is associated with a legit broker, and namely AGM Markets, which is licensed by the Cyprus Securities and Exchange Commission (CySEC).

 

 

On its website, AGM Group claims to be FCA compliant, and its Terms and Conditions mention the laws of Cyprus several times. While the Cypriot broker AGM Markets operates a number of websites, agm-invest.com is not in the list of approved domains, and in our opinion AGM Group isn’t related in any way to the Cypriot company.

 

Such attempts to mislead investors are clear-cut signs of trouble are the usual “tell” of a scammer.

 

MT4 provided by a shady company

Another worrisome fact about AGM Group is that its MT4 platform is provided by a third party, Solid Plus Ltd. This isn’t that unusual in the forex world, but we found out that the Italian regulator CONSOB has blacklisted this company.

 

 

Conclusion

 

Although the offer of AGM Group seems attractive at first sight, when one takes a deeper look, things get quite ugly. Obviously, tries to mislead investors it is legit, while it is not and shows typical signs of a scam. Presenting misleading information to traders is a major warning sign and we must state that potential clients of the brokerage are subjected to substantial risk.

 

As usual, our best advice to investors is to do business only with duly regulated brokers, licensed by trustworthy authorities. One such regulator is the Financial Conduct Authority (FCA) in the UK.

 

 

>> Trade with a FCA-licensed broker <<

 

 

Here are, in a few words, the key positive and negative features of AGM Group:

 

Pros Cons
Seemingly good trading conditions Tries to mislead investors that it is associated with a legit broker
MT4 supported No address, no number, no regulation
Many CFDs offered MT4 provided by a shady company

 

Latest news about AGM Group
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Traders` reviews for AGM Group

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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