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AGM Markets Review - Is it scam or safe?

AGM Markets - Is it scam or safe?

RATING: 3 / 9 REVIEWS ForexBrokerz AGM Markets


Trading Accounts


Account type Minimum deposit Minimum trade size   Maximum leverage  Spreads and commission 
Mini  $250  0.01 1:200 From 1.7 pips on EUR/USD
Standard  $1000  0.1 1:100 From 1.1 pips on EUR/USD + $6 per lot round turn

There are two basic accounts with this broker: Mini & Standard. Basically the cost of trading on the two accounts is similar, however, there is a significant difference in the minimum initial requirements set.

Keep in mind that micro lots are available for trade on the Mini account only, and CFDs can be traded solely on the Standard account type.

The Company. Security of Funds

Since 2011, AGM Markets serves retail and institutional customers from over 140 countries worldwide, offering trading in forex, index & energy CFDs, as well as precious metals.

AGM Markets Ltd., doing business as AGM Markets, is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). Accordingly, it is authorized to provide its services across the EU under the MiFID regulations.
CySEC applies certain rules to license holders, one of them being the requirement to hold a minimum of €730 000 in order to prove their financial stability. Furthermore, the commission requires client funds to be kept separately from the company’s operational assets, and licensed companies should regularly report to the regulator.

In addition, the Cypriot financial watchdog applies a compensation scheme as additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, where customers of authorized financial services firms may receive a compensation, amounting to a maximum of 20,000 EUR, in the event that the brokerage becomes insolvent or ceases trading.


The broker also has an Australian subsidiary, AGM Markets Pty Ltd. However, the Australian Securities and Investments Commission (ASIC) cancelled its license in November 2018 due to unethical conduct and unmanaged conflicts of interest.


Trading Conditions

Minimum Initial Deposit
AGM Markets accounts require a minimum deposit of $250, which is average. In comparison, leading EU broker XM requires only $5 from traders to start with.

Average Spreads & Commissions
This broker offers variable spreads, which differ by account category, however the cost of trading on both accounts appears to be the same. Spreads on Mini account starts from 1.7 pips on EUR/USD, while the ones on the Standard account starts from 1.1 pips and involves a commission of $6 (round turn). So, the pricing offered by AGM Markets is not very competitive, as spreads above 1.5 pips for the EUR/USD pair are considered high.

In comparison, XM offers average spread of 0.1 pips on EUR/USD + commission $5 per standard lot (per side) on its Zero account, accessible with just $100. You may look up and compare real-time spreads of 15 leading brokers here.

Maximum Leverage

The maximum leverage with this broker is offered on the MT4 platform and is 1:200, which is average, yet most broker offer more. Higher leverage levels may not only multiply traders` earnings on a small deposit, but also lead to heavy losses in excess of the initial deposit. Nonetheless, if you are willing to take the risk, many Cyprus-based brokers offer higher leverage than AGM Markets : XM – up to 1:888, FXTM and - up to 1:1000. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.

Trading Platform

Like most forex brokers, AGM Markets provides its services through the industry’s standard MetaTrader 4. It used to offer MetaTrader 5 too, but discontinued its support in February 2015.

Most experienced traders prefer the MT4 and usually newbies also find their way quite quickly around it. This platform offers a number of technical indicators, advanced charting package, numerous Expert Advisors (EAs) and extensive back-testing environment. Users are able to download ready-made or create their own EAs (if they have some coding skills), and can fully automate their trades.

Here is a list of more forex brokers offering MT4 platform.

Methods of Payment

AGM Markets offers its clients the following payment modes: bank wire, credit/debit cards and a number of e-wallets – Skrill, Sofort, Neosurf, cashU, POLi, QIWI, WebMoney.


AGM Markets is a well-regulated broker, offering a wide range of financial products on the MT4, however we find the spreads too high and leverage levels mediocre. In a nutshell, here are the advantages and disadvantages with regards to this broker.


Pros  Cons
Well-regulated  High spreads 
MT4 available  Mediocre leverage levels
  No choice of trading platforms 


Latest news about AGM Markets
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for AGM Markets
















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Avoid this broker as will call you each day even if you don't want to trade

Very aggressive policy, they are calling you each day despite of GDPR regulations and the right to be forgotten. Their platform don't shows you any option to delete the account and to get in touch with their support you will need to pay per each minute. I would recommend to avoid this company.

Alin Oltean 01/14/2020

AGM are dishonest

Dishonest. They have just tried to take 844.22 from my credit card instead of paying me my money. Rude and talk to you like you are simple.

Carol Bott 12/20/2019

Agm Invest scammers

Hello my name is luigi and i deposit 5K on this web site
Www agm- invest@com
They never permits me to withdraw my profit they are scammers

Luigi 01/04/2019

Cannot withdraw money

Investors be aware as I've been waiting for more than five months to have my money withdrawn but they wouldn't let me. I've provided all requested documents to them. Each time I enquired about it, they kept saying they're working on my withdrawal!

Trinh Thuc Vu Bui 10/19/2018

AGM Markets - Do not trust them.

I have had experience with AGM Markets Pty Ltd and lost a huge amount of money as many Australians have with them. They are negligent in dealing with new traders and do not train you appropriately. I contacted ASIC and Financial Ombudsman. Please contact them now if you have had the same experiences. The FOS have made the decision and found them totally negligent in my case. They had 30 days to pay my money back. They have not contacted me, I had to contact them and was told by the case manager she was overseas. Will they pay me back now the determination has been made in my favor, we will see.

D Curnow 09/22/2018

Don't mix

Please don't mix two different companies together. This is a review of AGM Markets LTD which is Cyprus company and regulated by CySEC. An you all left your comments about Australian aGM Markets PTY LTD

Alexander Ruchnov 09/13/2018

Fund withdrawal

I have requested repeatedly for the remaining funds in my trading account to be transferred back to my bank account. They respond with "it is in the hands of our finance department" which has been the standard answer for the last three weeks. I am not looking to recoup the money I lost, I knew the risk, I want to remove my remaining funds from my account. Is going ASIC the next course of action?

David King 04/04/2018


I was given an account manager who via team viewer helped me around the platform but in doing so wanted me to open my banling so she could see how much money I have. Not happening! Also every time I made a trade the phone would ring UP TO 7-8 TIMES A DAY. So I asked to close account was asked for more paperwork but wouldnt tell me what so after a guessing game was told it was accepted BUT STILL WAITING FOR MY MONEY!!!!!!! AM GOING TO ASIC TO LODGE A COMPLAINT

Carol Johnson 02/07/2018

Trade Financial - alarm bells

Opened an account with Trade Financial, AGM is the parent company.
After opening the account received an email requesting a copy of drivers lic and credit card details. (alarm bells rang) tried to withdraw my money with no luck . No Australian contact details and no response to my emails other than demanding my Credit Card details and Drivers Lic front and back. I know of several others unable to get their money back

Trevor Miles 01/16/2018

OT Capital - the Australian company of AGM markets

After viewing an advert for Bitcoin trading I was contacted by OT Capital which is an Australian company of AGM markets After my account manager installed Meta trader 4 on my computer I started trade with $500 but was told this amount was too small after exteeme pressure from this account manager and his supervisor I transferred more money unaware that the team viewer was still in use and account manager could see my bank accounts when opening trades I was instructed to use larger multiplier to increase my profits but of course this increased my losses each time I made a profit the phone would ring to force me to open more trades keeping margins tight in the end I lost $40,000 because of poor advice or directions unable to make profits above overnight costs and losses this company did not disclose that they were a front for a Cyprus based company their conduct was unprofessional and forceful disclosure was not adequate and profit of their own company was their only concern
I was extremely stupid to trust their guidance on my first venture
I have sent comp,aints to ASIC the Finance Ombudsman and ACCC but do not see at 63 years ofage ever seeing my life savings again

Michael Woodford 01/14/2018


Withdraw the complaint of misleading information the bitcoin code, the broker in question has agreed to reimburse the deposited funds and close the account due to the misunderstanding of the matter. The complaint was filed without predudice and on receipt of funds and closing of the account the matter will be settled amicable.

Bruce Kennedy 11/29/2017

Missleading advertising for trading The Bitcoin Code

I wish to trade on The Bitcoin Code. I go to website and complete application, I pay $500 and then get email say account activated, show
credit $500 broker 1 and activate icon which I turn on for auto trade, nothing. then I get compliance email from Trade Financials and find out my $500 is in an account with them. There financial advisor English not the best and I question if they compliant and have a AFC licence. Not impressed so I want my account closed and the money refunded other wise will file complaint with ASIC relating to trading licence AFSC422662. I not want to trade with them, I already accounts with IG, Westpac and Interactive Brokers. I wanted to have an account with The Bitcoin Code with set on auto trade.

Bruce Kennedy 11/28/2017
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