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AMP Global (Europe) Review - is it scam or safe?

AMP Global (Europe) Review - is ampglobal.eu scam or good forex broker?

RATING: 3 / 1 REVIEWS AMP Global (Europe)
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Trading Accounts and Conditions

 

Trading account Minimum deposit Minimum trade size Maximum leverage Spread
Standard  $100 0.01 1:200 from 1 pip*

 

*As announced on the broker's website.

 

AMP Global (Europe) offers trading in forex, CFDs and exchange-traded futures on the MetaTrader 5 platform. It has Standard, Islamic (swap-free) and corporate accounts, but we didn’t spot any differences between them in the trading specifications.

 

 

AMP Global (Europe) Advantages

 

Tight regulation, part of a global group 

The best thing about AMP Global (Europe) is its solid regulation and the fact that it is a part of a well-established global group. The company behind the brand, Amp Global Ltd., is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 360/180. Moreover, it belongs to international forex and futures group AMP Global.

 

 

The other prominent member of the group, Chicago-based AMP Global Clearing is a US futures commission merchant (FCM), authorized by the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA) since 2010.

 

As some of you probably know, only a few forex brokers have remained actively operating in the US market. Most of them closed up shop moved their business elsewhere due to the heavy regulation. It seems that AMP Global is no exception to that.

 

MetaTrader 5 offered

No wonder AMP Global (Europe) offers its services on MetaTrader 5 (MT5), as AMP Global Clearing focuses on exchange-traded stocks and the MT5 is designed specifically for that. MetaQuotes’ latest trading software is a solid multi-asset platform equipped with advanced trading features. Its charting is basically as good as those of its predecessor, the MT4, and also offers automated strategies (EAs), hedging, numerous technical analysis indicators, customization options, etc.

 

 

>> Other MT5 brokers <<

 

 

Good spreads announced on website

The spreads indicated on AMP Global (Europe)’s website are quite attractive – starting from 1 pips on majors. Such cost of trading is on the lower end of average in the forex industry. However, when we tested the broker’s MT5 in demo mode, the spreads turned out to be a lot higher. You can find more information about this in the Disadvantages section below.

 

Reasonable minimum deposit, solid leverage

In order to open an account with AMP Global (Europe), one has to deposit $100, which is a reasonably low amount to start with. Besides, clients of the broker are able to use leverage up to 1:200, which will suit most trading styles. Yet, we remind you that trading on margin involves higher risk of loss.

 

All trading strategies allowed

Another positive feature of this broker is that it allows all trading strategies, including hedging, scalping, news trading, and EA (Expert Advisor) trading.

 

 

AMP Global Disadvantages

 

High spreads on demo accounts

When we tested AMP Global (Europe)’s MT5 in demo mode, we found the spread on the most liquid for pair, EUR/USD, floating around 2.4 pips, which is significantly higher than the spreads announced on the broker’s website. Such spread is also higher than the average in the industry.

 

 

AMP Global (Europe)’s MT5 in demo mode. Click to zoom in.

 

 

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

 

 

Conclusion

 

Overall, AMP Global (Europe) seems like a good choice of a forex brokerage: it is licensed in Europe (Cyprus), supports the MT5, allows all trading strategies. Besides, it is a part of the AMP Global Group. One thing that bother us is the fact that the spreads on demo accounts don’t match the broker’s claims and are significantly higher than the average in the industry.

 

Nonetheless, the safety of any investment should always take priority over the cost of trading. That being said, the regulatory environment in Cyprus is quite solid. CySEC-licensed brokerages have to meet certain capital adequacy requirements, to keep clients’ funds in segregated accounts, to report transactions on a regular basis, to provide negative balance protection, as well as compensation scheme coverage (to a maximum of €20,000).

 

 

>> Find the best brokers in Cyprus <<

 

 

Let’s sum up the above:

 

Pros Cons
Tight regulation, part of a global group High spreads on demo accounts
MetaTrader 5 available  
Good spreads announced on website  
Reasonable minimum deposit, solid leverage  
All trading strategies allowed  

 

Latest news about AMP Global (Europe)
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Traders` reviews for AMP Global (Europe)

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

 

 

Bad choice

I've got real account.It's bad broker with "frozen" data of futures.Execution of orders? How we like it. You want to complain, please, we have your complaint somewhere deep. Customer support? And who cares, during the European session we are already free. I generally advise against. It's clear that the broker's entry into the Europen market was done with haste.

Mariusz 01/10/2019
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