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Is Amega Scam or Legit Broker?

No, Amega should not be considered a reliable option because it lacks robust regulatory oversight. The broker is governed by the Financial Services Commission of Mauritius. It is widely acknowledged that entrusting investments to offshore brokers carries significant risks and may result in financial losses.

  • Signing in with offshore brokers is considered risky because they typically lack the stringent regulations and oversight provided by top-tier authorities such as CySEC, ASIC, and FCA. These strict regulatory bodies ensure that traders operate within a highly secure environment, thereby minimizing the chances of financial losses or other potential issues that could arise.

About Amega
🏢 Registered inthe Financial Services Commission of Mauritius
🗺️ Type of LicenseOffshore
🛡️ Is Amega safe to trade?No
🗺️ Recommended LicensesFCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is Amega?

According to the website, Amega has been operating for about a decade offering a range of services. The broker enables access across various markets: Forex, Shares, Indices, Commodities, Metals, and Energy. Amega offers commission-free trading. With the broker clients conduct trading on the MT5 platform. Besides, traders have access to technical analysis and an economic calendar. Amega also provides educational material for beginner traders.

Nevertheless, after conducting a more in-depth investigation of the broker, we uncovered certain facts and issues that should be carefully considered before deciding to sign up with the broker.

  • Regulation issues: Amega is an offshore broker registered by the Financial Services Commission of Mauritius with the GB22200548 license number. However, it’s important to note that the broker lacks substantial licenses, making its services appear risky and less dependable. When selecting a broker, regulatory status is of paramount importance, as ensuring the safety of funds remains the top priority in Forex trading.
  • Feedback from fellow traders: A reliable method for gaining insights into a broker is to examine reviews from actual traders. In this regard, Amega is not in the best position, as its reviews are either highly positive or exceedingly negative. The noteworthy aspect is that it lacks consistency in feedback, resulting in an overall low trust score within the market. Consequently, it may not be the most favorable choice for potential investors.
  • Withdrawal issues: Among other complaints, one of the main issues is the lack of the withdrawal process. Many clients indicate either a problem in the withdrawal, which often causes loss of funds or other issues that block profitable trading. 

Overall Amega Ranking

Based on our research, we have identified significant reservations regarding Amega’s reliability and its compliance with regulatory standards. Therefore, we are unable to provide a favorable rating for Amega.

  • Amega Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.
RankingAmegaTrading 212Go Markets
Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading ConditionsTrading Environment

Amega Alternative Brokers

Given the concerns regarding the reliability and security of Amega, we strongly advise traders to explore alternative options that offer more robust regulations and improved trading conditions. Below is a list of reputable brokers that provide trustworthy choices and a secure trading environment for your consideration:

Deposits and Withdrawals

Amega offers a range of funding methods: Visa/MasterCard, Qiwi, Epay, B-pay, Sticpay, FastPay, Skrill, Payeer, Bank Transfer, etc. The broker does not specify a certain minimum deposit amount. Depending on the payment method, the funds appear on the account almost instantly. 

  • The broker claims about straightforward withdrawal process. During working hours, withdrawal requests are approved almost instantly.
  • To enable withdrawals, the withdrawal method must be the same as the deposit method.
  • In light of the numerous complaints concerning the inadequacy of the withdrawal process, we strongly encourage traders to carefully assess the potential risks associated with investing with this broker.

Account Types 

Amega offers only one account type. This means, the broker limits trading opportunities and features into a single account type. The minimum deposit seems to be $20, although the broker also mentions there is no deposit amount specification, and the minimum amount depends on the payment methods. Amega offers a high leverage of 1:1000. Spreads start from 0.1 p.

  • Amega also offers Islamic accounts – special accounts created for Muslim clients.

Amega Review Conclusion

Based on the data we have gathered about Amega, there are significant reservations regarding the broker’s credibility. Amega’s lack of serious registration (it has Mauriutus registration only) raises substantial concerns. Additionally, the numerous negative client reviews are serious grounds for concern.  Further, the services and trading conditions are average, thus it is certainly advisable to give preference to tightly regulated brokers with good standing in the market and transparent trading conditions. 

To avoid risks typical in trading with unregulated or offshore brokers, we always recommend choosing a reliable broker that holds licenses from reputable authorities like FCAASIC, or CySEC. Many regulated brokers are both reliable and have exceptional offerings, such as BlackBull MarketsGo Markets, and HFM.

  • Overall ranking and experience for Amega is Negative

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One response to “Amega”

  1. Big scamers who are evil they are lying they are not trading they still money from poor people,i hate them

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