AM Markets promotes trading in forex and multiple CFDs using the reputable MetaTrader4 platform and states that it is a regulated and well-respected foreign exchange broker. However, upon further inspection, it becomes clear that AM Markets lacks oversight, its assertions cannot be verified, and there is little useful information present on its website which appears to have been hastily assembled from its original Chinese language version. Read this complete AM Markets Review to know more about AM Markets scam.
Website – https://ammarkets.com/en/
Address – NA
Regulation – Unregulated
Warned By – Not recommended by review website like Fraud Brokers
Domain Age –
| Domain Name | ammarkets.com |
|---|---|
| Date Registered | October 27, 2019 |
| Domain Age | 3 years, 7 months, 20 days, 15 hours, 38 minutes, 57 seconds |
Is AM Markets legit or a scam?
AM Markets claims to be regulated in Canada, however, this is not the case. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) does exist, but it does not regulate markets in any way. Instead, the Investment Industry Regulatory Organization of Canada (IIROC) is responsible for regulating the markets in the country. IIROC requires brokers that operate under it to participate in guarantee funds that would provide up to $1 million to clients affected if the company were to go out of business. Additionally, AM Markets website does not have an address or contact information, which is a major indication of a potential problem.
Trading Platform
AM Markets offers access to the renowned MetaTrader 4 trading platform, a tool highly regarded for its superior automated trading capabilities and straightforward design. We were able to download and try it out with a demo account. The third-party provider is an entity called The Trading Empire Ltd., of which we know nothing.
Deposit and Withdrawal Methods
AM Markets deposit page notes that it accepts bank transfers, which are often favored by scammers due to their final, non-refundable nature. This may be a way for AM Markets to limit the opportunities their customers have of getting their money back since the broker has not listed its Withdrawal policy in its Terms and Conditions. Concerning withdrawals with AM Markets, however, there are only two certainties: they won’t be cost-effective or straightforward.
Spreads and leverages
The broker offers an extremely risky leverage of up to 1:500, as AM Markets is not a legitimate financial service provider. It is important to have a basic understanding of what leverage is when trading in forex. Leverage gives traders the capability to open large trades with just a minimal deposit, but it can also result in larger losses. Therefore, it should be utilized with great caution.
Is it possible to make money using AM Markets?
You should not be under any illusion that you will make money with a broker like AM Markets, which is unregulated and has no credibility. Furthermore, the website does not have a registration page or an option to create an account, which leads us to believe that AM Markets is purposely hiding the registration process to select its clients; this is another indication of the dubious nature of the broker.
How does the AM Markets work?
It is blatantly clear that AM Markets are running a fraudulent operation using the same standard tactics. Starting with an online website, those targeted by the scam are asked to create an account, providing their phone number without realizing how much this aids the scammers. Subsequently, they are bombarded with incessant calls asking them to deposit money.
Conclusion
If you find yourself in a situation where you have been defrauded by AM Markets or any other type of scam, including foreign exchange, cryptocurrency, romance, or phishing scams, then you can take action against the offending brokers. All that is required is for you to fill out a complaint form on our website and receive free guidance from our specialists who will help in recovering your money.
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