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AUGS Markets Review - is it scam or safe?

AUGS Markets review - Is augsmarkets.com scam or good forex broker?

RATING: 3 / 0 REVIEWS AUGS Markets
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AUGS is an Australian broker, licensed and authorized by the Australian Securities and Investments Commission (ASIC) – one of the leading global financial regulators, along with the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). You can find more details about AUGS in the following review.

 

Trading account Min. deposit Max. leverage Spread

Standard Account

$1 1:100 1,5 pips

 

AUGS Advantages:

 

Sound regulation

 

AUGS is owned and operated by AUGS Markets Pty Ltd, a company based in Sydney and regulated by the Australian Securities and Investments Commission (ASIC) – one of the best respected authorities in the industry. 

 

 

An Australian Financial Services License as well as all licenses issued by the official financial regulators in Europe, the US and Canada, guarantees that brokers are following strict financial and ethical rules by filing regular reports, allowing external audits, keeping all clients funds in a segregated, protected form creditors, trust account, providing their with a negative balance protection and maintaining at all times a certain minimum operational capital – in the case of ASIC 1 000 000 AUD. Besides, here you may also check our list of brokers regulated in Australia:

 

>>Brokers regulated in Australia<<

 

Leverage of up to 1:100

 

This is another advantage with all Australian brokers. Since the the European Securities and Markets Authority capped the maximum leverage allowed with forex transactions at 1:30 and 1:20 for most other CFDs, following similar steps by the authorities in the U.S., Canada and Japan, Australia remained the last major regulatory destination where brokers are still free to offer virtually unlimited leverage. And wile we do not recommend you to trade with offshore brokers (which also may offer attractive leverage), ASIC regulated brokers like AUGS are both perfectly safe and are able to offer you higher margin trade.

 

No minimum deposit requirement

 

This is in line with the best practices on the market as most brokers do require a minimum deposit of about 250 USD. We should note however that some big players like FBS and IG also allow their clients to start trading with virtually a couple of dollars.

 

Acceptable spreads

 

As we tested  AUGS trading platform with a demo account the bench mark EURUSD spread floated about 1,4 pips – 1,5 pips and this is certainly fine with a standard account. As we already noted  AUGS offers just one account type without a minimum deposit requirement. Still, here you may also take a look at our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Over 30 currency pairs and a number of CFDs

 

The list of trading instruments AUGS offers is also decent – 31 forex pairs, some of which minor or exotic like USDSGD, USDHKD and USDCNH, as well as CFDs on 10 indices, gold, silver and oil. As no crypto assets are available however, here you may also check our list of brokers trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

MetaTrader4 available

 

We certainly welcome the choice of a trading platform as well. MetaTrader4, which is developed by MetaQuotes Software, is by all means the most widely used trading platform in the industry and has dominated the market for the better part of the past 15 years or so. 

 

 

The platform is reliable, light and with a user friendly interface. It also supports algorithmic trading sessions with the help of specially designed, customizable trading bots, called Expert Advisors. And for your market analysis you can also count on over 50 also customizable market indicators and some advanced charting tools. You can check here our list of brokers supporting MT4 as well:

 

>>MT4 Brokers<<

 

The service is available in Chinese

 

Along with its English version AUGS website is available also in Chinese, as the company probably targets Chinese speaking customers as well.

 

AUGS Disadvantages:

 

Few payment methods

 

As it turns out  AUGS accepts payments with credit and debit cards, as well as bank wire, but not popular e-wallets like Neteller and Skrill. And because we do not see an option to pay with crypto coins, here you may also check our list of brokers, accepting payments with bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

Conclusion:

 

With its ASIC licenses AUGS ranks among the reliable brokers. As for the trading conditions, a definite advantage is the relatively high leverage, the decent spreads, as well as the MetaTrader4 – a trading platform we definitely like. A disadvantage however are the few payment methods available and that may prove to be a problem for customers not based in Australia, because of the higher bank transfer charges.

Latest news about AUGS Markets
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Traders` reviews for AUGS Markets

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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