AGM Markets Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
Business
License
CYSEC Revoked 
oh my gosh, this company AGM Markets has put its domain name on sale for 11k. However, I didn't seen any exposures on wikifx, which could be something nice, since it appears that no one had been scammed.
AGM Markets has garnered significant attention in the online trading community, but the reviews tell a complex story. While some users appreciate the platform's features and trading options, a troubling number of complaints raise serious concerns about its reliability and regulatory status. Key findings suggest that while AGM Markets offers a range of trading instruments and utilizes the popular MetaTrader 4 platform, issues surrounding user withdrawals and regulatory compliance have led many to question its legitimacy.
Note: It's important to recognize that AGM Markets operates under different entities across various regions, which may affect regulatory oversight and user experience. This review aims to present a balanced perspective based on multiple sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 4 |
| Trading Experience | 5 |
| Trustworthiness | 2 |
| User Experience | 3 |
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user feedback, expert opinions, and factual data regarding broker operations.
Founded in 2011, AGM Markets is a Cyprus-based forex and CFD broker that has attracted a global clientele. The broker primarily utilizes the MetaTrader 4 platform, which is well-regarded for its user-friendly interface and robust trading tools. However, AGM Markets has faced significant scrutiny due to its regulatory status, which has been revoked by the Cyprus Securities and Exchange Commission (CySEC). This raises questions about the safety of client funds and overall trustworthiness.
AGM Markets offers a variety of trading instruments, including forex pairs, commodities, and indices, but lacks coverage in cryptocurrency trading. The minimum deposit required to open an account is $250, which is relatively standard in the industry.
AGM Markets was previously regulated by CySEC, but its license was revoked in February 2022 due to non-compliance issues. This has led to numerous warnings from regulatory bodies, including BaFin in Germany, which categorized AGM Markets as a potential scam. As a result, traders should exercise extreme caution when considering this broker.
AGM Markets accepts deposits in USD, EUR, and GBP, and offers various payment methods, including credit/debit cards and bank transfers. However, withdrawal processes have been reported as slow, with many users expressing frustration over delayed transactions and unfulfilled requests.
The minimum deposit to open an account with AGM Markets is $250. While this is not unusual for the industry, the lack of a micro account option may deter some novice traders looking for lower entry points.
AGM Markets does not appear to offer significant bonuses or promotions, which is common among brokers that operate under strict regulatory scrutiny. This lack of incentives may impact its attractiveness to potential clients.
AGM Markets provides access to a range of asset classes, including over 45 forex pairs, commodities, and indices. However, the absence of cryptocurrency trading options may limit its appeal to traders interested in digital assets.
The broker's spreads start at 1.3 pips for major currency pairs, which is considered relatively high compared to industry standards. Additionally, users have reported various fees associated with withdrawals, which can add to overall trading costs.
AGM Markets offers leverage up to 1:200, which is relatively standard. However, high leverage can amplify both profits and losses, making it essential for traders to manage risk effectively.
AGM Markets primarily offers the MetaTrader 4 platform, which is widely recognized for its functionality in forex trading. The broker previously supported MetaTrader 5 but discontinued this option, limiting traders to MT4's features.
Due to its revoked regulatory status, AGM Markets may not operate legally in several jurisdictions, including the UK and the US. Traders in these regions should be particularly cautious and consider alternative, regulated brokers.
AGM Markets provides customer support in several languages, including English, Russian, and Arabic. However, user reviews indicate that the quality of customer service is inconsistent, with many complaints highlighting slow response times and inadequate support.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 4 |
| Trading Experience | 5 |
| Trustworthiness | 2 |
| User Experience | 3 |
Account Conditions (5/10): AGM Markets offers a minimum deposit of $250 but lacks a micro account option. The absence of competitive bonuses may deter new traders.
Tools and Resources (6/10): The broker provides access to MetaTrader 4, which is a robust platform, but lacks educational resources and advanced trading tools that some competitors offer.
Customer Service and Support (4/10): User experiences indicate that customer service is slow and often unhelpful, with many reports of delayed responses to withdrawal requests.
Trading Experience (5/10): While the platform is user-friendly, issues with trade execution and withdrawal processes have marred the overall trading experience for many users.
Trustworthiness (2/10): The revocation of its regulatory license and numerous complaints about withdrawal issues severely impact AGM Markets' trustworthiness.
User Experience (3/10): Overall user feedback is negative, with many traders expressing frustration over the broker's operational transparency and withdrawal practices.
In summary, while AGM Markets offers a variety of trading options and utilizes a popular trading platform, significant concerns regarding its regulatory status and user experiences suggest that traders should proceed with caution. The combination of high spreads, poor customer service, and a lack of regulatory oversight raises red flags that potential clients should carefully consider before investing.
