Looking for a Forex Broker You Can Count On? Read our AGM Markets Broker Review
Since 2011, AGM Markets has been offering its services to clients located in more than 140 countries worldwide. AGM Markets is a popular Forex broker, with headquarters in Limassol, Cyprus, that is licensed and regulated by CySEC, to provide investment services to clients located in EU member states, as well as a number of other countries. They operate in accordance with the latest Directive MiFID, which will give you peace of mind. It offers traders the opportunity to trade Forex with low cost and with tight spreads, whatever size your orders. There are a number of attractive features, including:
- Cutting edge trading platforms, including the latest MetaTrader 5, as well as the popular MT4
- Mobile trading with the MT4 platform
- Tight spreads ensuring the lowest trading costs possible
- Leverage of up to 1:500
- A wide range of trading instruments, including commodities
- Customer support in a number of different languages
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A range of different account types to choose from
With AGM Markets there are a number of choices, a Standard or a Mini account, as well as a Premium account or a Standard ECN. Depending on your own individual needs, there should be an account to suit most types of trader. The Standard account is designed to suit traders with larger trading volumes, while the Mini account is more for the beginner, and those who prefer low-volume trades.
Mini account – Minimum deposit is 250 to 1000 USD/EUR/GBP. Floating spreads start at 1 pip, and the maximum leverage is up to 1:500. Minimum lot size is 0.01, and scalping is allowed. Margin calls are 100%, while stop out is 75%. There are no commissions.
Standard account – Minimum deposit is 1000 to 5000 USD/EUR/GBP, and floating spreads start at 0.90 pip. Maximum leverage is up to 1:500, and minimum lot size is 0.1. Scalping is allowed, and hedging permissible using the MT4 platform. Margin calls are slightly higher at 120%, while stop outs are 100%.
Premium account – The minimum deposit for this account is 5000 to 25000, in either USD/EUR/GBP. Floating spreads from 0.60 pip and leverage is 1:200. Minimum lot size is 0.1. Scalping and hedging is allowed. This account is only available using the MT4 trading platform.
Standard ECN account – As you might expect there is a commission charged with this type of account which is $6 per lot traded. Maximum leverage is 1:200, and minimum lot size is 0.1.
For all account there is the option of a personal account manager, market execution with no dealing desk, training in the use of the platform, technical analysis, and a wealth of educational material including videos and PDFs.
AGM Markets offers MT5 as well as MT4
It’s never much of a surprise to learn a broker offers the MetaTrader 4 as its main trading platform. After all, it has become one of the most popular platforms currently available. It is able to cater to the needs of newcomers as well as seasoned traders. It has proved to be very user-friendly, and is no surprise that many traders prefer to use it over all the other options.
However, AGM Markets did take the MetaTrader experience one step further with the introduction of MetaTrader 5. But we have to advise our readers that from February 2015, MT5 is no longer available at AGM Markets.
No problems with customer service
The quality of customer service is an important consideration for anyone looking for the best Forex broker. And you shouldn’t be too disappointed with AGM Market.s. Their customer service desk is open 24 hours a day, 5 day a week. There is a dedicated phone line, an email option with a number of different addresses depending on your query, as well as the option for a live chat. You also have the choice of requesting a call back, which is bound to be an attractive option if you don’t live in Cyprus.
Many of the most common questions are answered on the FAQs page of their website, and if you want to learn more about the world of Forex trading there is an educational section. This includes a helpful guide to all the basic information, as well as in depth insights into fundamental and technical analysis.
A number of payment methods are supported, although some may consider the options rather limited. Bank transfers, credit and debit cards, as well as e-wallets, are the only options. Adding funds to your account should take no longer than one day, but making a withdrawal could take a little longer, depending on the method, and the provider.
On the whole, we couldn’t find much to turn us against AGM Markets. They are a reasonably good broker that makes use of cutting edge technologies, and offers reliable and trustworthy Forex services.