AG Markets Review Scam Complaint
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AG Markets or Advanced Global Markets limited was established in 2013 by Carlos Ferrer, who is the current CEO of the company. The brokerage firm is headquartered in New Zealand but also has offices in Mexico. The company Advanced Global Markets Ltd is not registered in the Financial Service Provider Register (FSPR) and claims to be regulated by Financial Markets Authority, whereas Financial Markets Authority has included the broker in the list of suspected scams.
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About the AG Markets:
AG Markets is a Forex and CFD broker who provides various types of trading accounts depending on the initial deposit, namely Basic, Standard, Trading, AGM Pro, and Premium. All of these accounts provide commission free trading, variable spreads, and leverage up to 1:400. Coming to the trading conditions of the company, AG Markets requires an initial deposit of $250, which is pretty reasonable. However, other regulated brokers offer lower initial deposit. The leverage offered by the broker is 1:400, which is a high leverage ratio. High leverage ratio involves greater risk and many legit brokers provide leverage ratio of 1:200. Leverage ratios should be carefully considered before investing as it decides the risk level involved in the investment.
AG Markets offers MT4 platform which is now an old platform, as its successor MT5 has been introduced and many leading trading firms are using MT5 platform. They brag about the features of MT4 to attract people and convince them that this platform has the most advanced features. Though the platform is globally popular for its innovative trading capabilities, variety of built in tools, advanced charting indicators, etc. But, its successor owns all these features in more advanced form along with some new and updated tools. To lure traders AG Markets offers attractive bonuses, like, a 100% trading bonus of up to $5000 to clients who deposits at least $1000. But there is a condition that the client has to trade 200 lots for at least 3 months, which is not considerable. AG Markets provides its clients various mode of payments, bank transfer, credit/debit cards and major e-wallets are also provided.
Is AG Markets legit or scam?
AG Markets is an unregulated broker who has also been added in the list of scam brokers by Financial Markets Authority. Therefore, it is a scam broker who in not authorized by any financial regulating authority, so it is advisable to not invest with this broker.