AGEA Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Man, let me tell you about what this AGEA is - this platform is sketchy as hell! They aren't even regulated and they're constantly trying to get people to sign up and deposit money. I've seen their cheesy ads all over the web and almost fell for it. Stay away from this platform, it's a scam waiting to happen!
AGEA, a Montenegrin broker established in 2005, has garnered mixed reviews from traders and experts alike. The broker offers a proprietary trading platform called Streamster, alongside the well-known MetaTrader 4 (MT4). However, it operates under limited regulatory oversight, which raises concerns about its trustworthiness. Many users have reported issues with withdrawals and platform functionality, leading to a generally negative perception of the broker.
Note: It is important to consider that AGEA operates under different entities in various regions, which may affect the level of service and regulatory compliance experienced by users. This review aims to provide a balanced perspective based on the latest information available.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 4 |
| Customer Service and Support | 6 |
| Trading Experience | 5 |
| Trustworthiness | 3 |
| User Experience | 4 |
| Additional Features | 5 |
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user feedback, expert opinions, and factual data regarding broker services.
Founded in 2005, AGEA International AD provides trading services primarily in Forex, commodities, and indices. The broker operates its services through two main platforms: Streamster and MetaTrader 4 (MT4). While Streamster is designed for ease of use, MT4 offers advanced features for experienced traders. However, AGEA lacks robust regulatory backing, being primarily regulated by the Commission for Capital Markets in Montenegro, which is not widely recognized compared to other major regulatory bodies.
Regulated Geographic Areas: AGEA is regulated in Montenegro but lacks oversight from major financial authorities like the FCA or ASIC, which raises concerns about its operational integrity.
Deposit/Withdrawal Currencies/Cryptocurrencies: AGEA supports multiple currencies including USD, EUR, GBP, and several others. However, it does not offer cryptocurrency trading directly, which may limit options for traders interested in digital assets.
Minimum Deposit: The minimum deposit to open an account with AGEA is as low as $1 for the Streamster account, making it accessible for beginners. However, for a standard MT4 account, the minimum deposit is $100.
Bonuses/Promotions: AGEA offers a $5 no deposit bonus for new users, which can be attractive for those hesitant to invest large sums initially.
Tradable Asset Classes: The broker provides access to Forex pairs, commodities, and indices, but the total number of assets available is limited compared to other brokers. Users have reported that the selection is lacking, particularly in comparison to competitors.
Costs (Spreads, Fees, Commissions): AGEA's spreads start from 1.2 pips, which is relatively high compared to other brokers that offer tighter spreads. Additionally, there are withdrawal fees, with a $7 charge on the first withdrawal through non-wire options, and a $10 fee for wire transfers.
Leverage: The maximum leverage offered by AGEA is up to 1:500, which is attractive for traders looking to maximize their positions but also increases the risk of significant losses.
Allowed Trading Platforms: Traders can choose between the Streamster platform and MT4, each catering to different trading styles and preferences. However, the Streamster platform has received criticism for its functionality and user experience.
Restricted Regions: While AGEA is available in many countries, it may not accept clients from certain regions, including the United States.
Available Customer Service Languages: AGEA offers customer support in multiple languages, which can be beneficial for its diverse global client base.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 4 |
| Customer Service and Support | 6 |
| Trading Experience | 5 |
| Trustworthiness | 3 |
| User Experience | 4 |
| Additional Features | 5 |
Account Conditions (5/10): AGEA's low minimum deposit is appealing, but the limited account types and lack of transparency regarding trading conditions diminish its score.
Tools and Resources (4/10): The tools available on the Streamster platform are basic, and the absence of comprehensive educational resources is a significant drawback for new traders.
Customer Service and Support (6/10): While customer service is available through live chat, many users have reported slow response times and inadequate support, impacting their trading experience.
Trading Experience (5/10): The trading experience on both platforms is mixed, with users reporting issues like lag and unresponsive order execution, particularly on Streamster.
Trustworthiness (3/10): The lack of robust regulatory oversight and numerous user complaints about withdrawal issues severely impact AGEA's trustworthiness.
User Experience (4/10): The overall user experience is hampered by platform issues and a lack of clear information, leading to frustration among traders.
Additional Features (5/10): While AGEA offers a demo account and a no deposit bonus, the absence of advanced trading features and educational resources limits its appeal.
In summary, while AGEA presents some attractive features for beginner traders, its limitations in regulatory oversight, asset selection, and user experience raise significant concerns. Potential clients are advised to proceed with caution and consider alternative brokers that offer stronger regulatory protections and a broader range of services.
