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ArgoMarkets FX Review - is it scam or safe?

ArgoMarkets FX review - Is argomarkets.com scam or good forex broker?

RATING: 3 / 1 REVIEWS ForexBrokerz ArgoMarkets FX
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ArgoMarkets or ArgoMarkets FX is an authorized representative or a white label of Notesco Pty Limited – an Australian forex and CFD broker, licensed by the Australian Securities and Investments Commission (ASIC) – one of the most reliable financial regulators in the industry. 

 

So basically the forex pairs and the selection of CFDs offered with three account types, leverage of up to 1:500 and the MetaTrader4 platform, are provided by Notesco Pty Limited, which was formerly known as GVS (AU) PTY LTD,  IRONFX (AUSTRALIA) PTY LTD and ETX CAPITAL PTY LTD – those are all former names of the same company.

 

Trading account  Min. deposit Max. leverage Spread

Standard Account

$1 1:500 1,8 pips
PRO $15 Account $200 1:500 0,3 pips + $15 per lot
PRO $10 Account $2000 1:500 0,3 pips + $10 per lot

 

ArgoMarkets FX Advantages:

 

Solid license

 

As we noted ArgoMarkets FX, which is the trading name of Argomarkets Ltd, is an authorized representative of Notesco Pty Limited, which on its part is regulated by the Australian Securities and Investments Commission (ASIC).

 

ASIC has a reputation for strictly overseeing all brokers under its jurisdiction. All ASIC brokers have to file regular reports, to allow external audits, to provide clients with a negative balance protection, to keep their money in a protected, segregated from their own, trust account and also to maintain at all times a minimum operational capital of at least 1 000 000 AUD.

 

All that should give traders peace of mind, when trading with a properly regulated Australian broker. 

 

Leverage as high as 1:500

 

After the regulatory authorities in the European Union, the US, Japan and Canada capped the maximum leverage allowed with forex transactions, currently you can enjoy leverage as high as 1:500 only with offshore brokers and brokers regulated in Australia. And because we do not recommend you to trade with offshore brokers, here you may check our list of brokers, regulated in Australia as well:

 

>>Brokers regulated in Australia<<

 

Good selection of CFDs and forex pairs

 

When we tested the trading platform with a demo account we counted 54 currency pairs, many of which minor or exotic like USDRUB, USDCNH, USD TRY, USDCZK, USDPLN, USDHUF, USDSGD, USDSEK and USDNOK. And we found also a nice selection of CFDs on crypto coins including Bitcoin, Ethereum, Ripple and Litecoin, 21 major indices, silver, gold, oil and natural gas. But if you like the idea of trading crypto coins, here you may also check our list of brokers trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Various payment methods

 

ArgoMarkets FX accepts payments in various ways – major cards like VISA and MasterCard, bank wire and several e-wallets like DotPaym, FasaPay, Neteller, Sofort, Skrill, Yandex Money and QIWI. However, as ArgoMarkets FX does not accept crypto coins, here you may check our list of brokers, where you may pay with bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

MetaTrader4 supported

 

Notesco supports the MetaTrader4 and that is another piece of good news – the platform dominates the markets ever since its launch in 2005. MT4 is highly reliable, intuitive, fast, featuring advanced charting tools and almost a hundred market indicators and customizable trading bots, with the help of which one can easily run automated trading sessions. So here you may check our list of brokers, supporting the MetaTrader4 as well:

 

>>MT4 Brokers<<

 

No minimum deposit requirement

 

For their Standard Account  ArgoMarkets FX dose not require a minimum deposit and that is in line with the best practices in the industry - with big names like FBS and IG you can start trading with virtually a couple of dollars as well.

 

ArgoMarkets FX Disadvantages:

 

Relatively high spreads

 

As tested with a Demo account the bench mark EURUSD spread floated around 1,8 pips and that, we should note, is a bit higher than the level traders would usually regard as acceptable. Bear in mind that spreads are considered attractive only if they start below 1,5 pips.

 

Here we should note as well that with the PRO $15 Account and  the PRO $10 Account spreads start as low as 0,3 pips, but with a trading commission of 15 USD and 10 USD per lot respectively, which basically adds another 1,5 pips or 1 pip to the actual spreads. 

 

So with the PRO $15 Account the actual spread is again 1,8 pip as with the Standard Account, while with the PRO $10 Account it is 1,3 pips, which sounds good, but here the minimum deposit requirement is much higher - 2000 USD. In any case, here you may check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Conclusion:

 

ArgoMarkets FX is a white label of Notesco Pty Limited, which is a reliable broker, properly licensed and authorized by ASIC in Australia. They offer leverage as high as 1:50, MetaTrader4 and a nice selection of currency pairs. On the downside we should note the somewhat higher spreads. Still, ArgoMarkets FX and Notesco are brokers we can recommend.

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Traders` reviews for ArgoMarkets FX

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