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Is AMarkets Scam or Legit broker?

AMarkets is not one of the secure Forex Brokers since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

• It is not safe to trade with AMarkets as it is an offshore broker. AMarkets is registered by the Financial Services Authority (FSA) of Saint Vincent, registration No. 22567 IBC 2015. AMarkets is a member of The Financial Commission, an independent external dispute resolution (EDR) organization.

What is AMarkets?

AMarkets is a Forex and CFDs broker that provides trading through the MT4 and MT5 trading platforms. Providing brokerage services in the CIS countries, Asia and Europe, AMarkets focuses on offering high-quality services and comprehensive support to its clients and partners.

• However, in terms of regulation AMarkets is not safe at all. The fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements for the company operation. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets, and more. Read more about St. Vincent and the Grenadines regulation by the link.
• According to the website, AMarkets is a Member of the Financial Commission, which settles disputes between financial market participants, and protects each of our clients with the Commission’s compensation fund, for up to 20 000 EUR per case. Even though FinaCom is a well-respected organization, it is a self-regulatory organization that cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide necessary protection to the client.

Overall AMarkets Ranking 

Our research showed multiple issues in respect of the regulation and reliability of AMarkets, we do not rank positively AMarkets, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• AMarkets 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.

AMarkets Alternative Brokers

Based on the AMarkets safety and regulations issues we found during our research, we suggest much better Alternatives to AMarkets with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• Dukascopy –  Excellent for Shares, Futures Trading
• XM – Broker with Low Minimum Deposit
• Interactive Brokers – Good for Stock Trading

AMarkets in India

AMarkets has no mention of complying with any Indian regulators on its website. The broker does not hold any license from the regulatory body in India. This means, that the investments with the broker might be at risk. 

AMarkets in the USA

The United States is one of the countries that is not accepted by AMarkets. As per U.S law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for AMarkets, you are only permitted to trade with the U.S-regulated platforms.

Deposits and Withdrawals

The minimum deposit to start trading is $100/€100. To be able to fund your trading account, you have to complete the identity verification (Also read about Fortrade minimum deposit). 

• AMarkets does not charge any additional commission on withdrawal in its favor. When withdrawing funds from your account, you only pay transaction fees charged by the payment system. The payment system might also deduct the fixed commission on withdrawal.
• The broker offers the following payment methods: VISA, MasterCard, Bank Transfer, ADVcash, Skrill, WebMoney, Perfect Money, FasaPay, Neteller, and TopChange. 

Apps

AMarkets offers its traders MT4 Mobile and MT5 trading options for both iOS and Android. With smartphones, forex traders no longer need to be tied up to their desks, spending hours watching their trading screens. Instead, they can monitor the markets through their mobiles whenever they are. Mobile trading with MT4 allows you to have complete control over a trading account and trade from anywhere 24/5.

• The MetaTrader 5 (Check the best MT5 brokers here) custom trading app condenses the core features of the desktop platform into a simple and user-friendly smartphone interface. Trade on the go in your iOS or Android device and access current price quotes, analyze data with customizable candlestick and line graphs with the tap of a finger.

Demo Account 

AMarkets offers a demo account so you can try the AMarkets platform with virtual trading before you put down a payment. A demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option. Also, check FBS Broker Review which offers a Demo account.

AMarkets Review Conclusion

Even though the trading offering might seem attractive, in our opinion, you may find something more interesting among the regulated brokers. But an offshore status of the company does not guarantee the provision of services at the necessary level of client and funds protection. For that reason, we would advise choosing the broker more carefully and checking its regulation status first. The reputable firms that hold FCA, FINMA, or other licenses are established by international standards, protecting clients at every step and even compensating the trader in case things go wrong with the company. Thus, sign in with reliable brokers, such as  Pepperstone and TMGM.

• Overall ranking and experience for AMarkets is Negative

Is ExpertOption Scam or Legit Broker?

ExpertOption has been suspected as a scam broker. It is an offshore registered entity with no proper regulation. In addition, there are negative reviews mostly about payouts once the trading amounts are increased. However, since the company is not registered in the EU it does not provide or target clients from the jurisdiction, therefore didn’t receive any official claims or warnings.

What is ExpertOption?

ExpertOption claims to be the leader in the online trading industry through its offering to trade binary options with a trust of more than 8 000 000 clients at their background.  This broker has been around since 2014 and has over 55 million accounts opened since. As it is an international platform, the website is available in 15 different languages. Expert Option offers a wide range of assets to trade including stocks, forex, commodities, and cryptocurrency.

• ExpertOption is owned by EOLabs LLC., which is an offshore company registered in St. Vincent and the Grenadine. The fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements for the company operation. That means, the broker is not regulated, not overseen, and does not comply with strict international rules that provide protective measures to the traders.
• The broker also claims to hold the activity with supervision by the FMRRC organization (Financial Market Relation Regulation Center). Although FMRRC is an independent self-regulatory agency that was created to provide a level of regulation for derivative dealers and brokers it has no connection with the Central Bank of Russia, the official regulatory body in Russia, and has very few legal powers in regard to regulating FMRRC regulated brokers.
• The markets, which are targeted by the broker include those who mainly work with initially low deposits since the company limits deposits to a maximum of $3,000. The potential clients include Russian ones, as the website also uses the .ru domain, and the Indian region clients since the customer services also include Hindi-speaking support.

Overall ExpertOption Ranking 

As our research showed multiple issues in respect of regulation and reliability, we do not rank positively ExpertOption, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• ExpertOption 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.

ExpertOption Alternative Brokers

Based on the ExpertOption safety issues we found during our research, we suggest much better Alternatives to ExpertOption with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

• eToro – Best for Copy Traders
• XM – Broeker with Low Minimum Deposit
• Interactive Brokers – Good for Stock Trading

ExpertOption in India

Expert Option is legal in India (Find out top forex brokers in India). There is no mention of any possible legal issues between Indian traders and the broker.

ExpertOption in the USA

The company doesn't provide services to citizens and residents of the USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, North Korea, Puerto Rico, Singapore, Bangladesh, Indonesia, Russia, Iran, and Yemen.

Deposit & Withdrawal

ExpertOption has a minimum deposit of just $10 on their Micro account. This type of account is usually used for beginners traders. The minimum investment amount on the platform is as low as $1.

• ExpertOption offers many different payment methods including all major credit cards (including Visa and Mastercard), cryptocurrency, and most major e-wallets including UnionPay, WebMoney, Skrill, Neteller, Perfect Money, Yandex Money, Fasapay, and QIWI.
• The minimum withdrawal amount on the platform is also quite low, only 10 USD. The broker usually processes the withdrawals within 2 business days. To withdraw money, ExpertOption offers the same payment methods that are used for deposits such as credit cards, E-Wallets, cryptocurrency, etc.

Apps

The ExpertOption platform is accessible via mobile and desktop apps. Its mobile app is available on iOS and Android and can be downloaded at the Google Play Store or Apple Store. The desktop app is compatible with Windows or Mac.   

Demo Account

ExpertOption offers traders the opportunity to practice strategies and become familiar with the platform with their demo account option. Traders can use this demo account with a balance of $10 000 virtual money in order to be able to evaluate the benefits of the trading platform.

ExpertOption Review Conclusion

As we have concluded from our research ExpertOption is not a good choice for conducting trades due to its unregulated services and the high-risk operation which targets numerous clients. Dealing with an offshore broker most often results in becoming a victim of scams. 

Therefore, it is better to choose among the brokers that are complied with the industry-leading authorities and governmental entities that are backed with customer protection and the provision of legitimate financial services. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and choose brokers such as Pepperstone and TMGM.

• Overall ranking and experience for ExpertOption is Negative

Is Titan FX Scam or Legit Broker?

It is not safe to trade with Titan FX, as it is an offshore broker (Forex Broker). Titan FX is owned by Titan FX Limited which is an offshore company registered in Vanuatu and claims to be registered with a Vanuatu Financial Services Commission (VFSC) license.

• Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial established capital which is $2,000 only, pay a fee, and within 2-3 months, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as RCM FX, EssenceFX, and more. 
• As to the broker’s VFSC license, from our source, it costs €24,000 per year to become a member. However, there is no handbook or guidelines for brokers to run their businesses. Therefore, there is zero protection for traders. We have a detailed article explaining the risk of trading with brokers from Vanuatu. 

What is Titan FX?

Titan FX is a foreign exchange broker serving both institutional and retail clients across the globe. Titan FX offers a CFD trading environment to our customers. CFDs include FX currency pairs, stock indices, metals, and energy. Titan FX customers can trade those CFD products using MetaTrader 4 and MetaTrader 5 (for PC, Apps, or Web Trader). Titan FX was created in 2014 to provide a stable no dealing desk forex broker to service a global client base.

• Its veteran management and support team comprises highly experienced forex and fin-tech professionals with combined decades of experience providing the best possible trading conditions and client support to both retail and institutional clients. The broker offers high leverage on all currency pairs (Check out our list of High Leverage Forex Brokers), zero pip spreads, and zero latency (See 0 Pip Spread Forex Brokers). This all sounds quite good, but let’s have a closer look at Titan FX. 
• Titan FX has previously been registered and regulated in New Zealand, but the license was suspended. According to the website, the company has offices in New Zealand and the United States, however, this same website states "United States, New Zealand or Vanuatu residents are welcome to browse our website but please note due to regulatory limitations we are unable to accept any United States, New Zealand or Vanuatu resident as a client." This means Titan FX is not regulated in the mentioned countries and is not allowed to offer its financial services in other countries due to the lack of regulation. 
• In addition, the broker has been blacklisted by Japan's Financial Services Agency (FSA). The website has targeted potential clients across the globe, including Japan, so the FSA was right to pay attention to the broker: "being a licensed investment entity overseas does not automatically translate into authorization for the Japanese market."

Overall Titan FX Ranking 

Taking into consideration the issues with regulations and safety of Titan FX, we do not rank positively Titan FX, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• Titan FX Overall Ranking is 3 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.

Titan FX Alternative Brokers

Based on our revelations in respect of Titan FX unregulated nature, here are much better Alternatives to Titan FX with good regulations and favorable conditions. We select Good Brokers and reliable options for your comparison below: 

• OANDA – Good for Currency trading
• InteractiveBrokers – Good for US Trading and Trading of Real Stocks
• Trading 212 – Good for Beginners

Titan FX in India

Titan FX allows Indian traders to open accounts and trade. However, Titan FX has no mention of complying with any Indian regulators on its website. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

Titan FX in the USA

The United States is one of the countries that is not accepted by Titan FX. As per U.S law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for Titan FX, you are only permitted to trade with U.S-regulated platforms. 

• Other restricted countries: Aland Islands, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, United Kingdom, Germany, Greece, Hungary, Ireland, Italy, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, China, Hong Kong, Israel, Macao, Singapore, United Arab Emirates, Turkey, Canada.

Deposits and Withdrawals

The minimum deposit to open an account in Titan FX is $200 for all available accounts. Titan FX does not charge any account maintenance fees on inactive accounts. You can fund your trading account using our Secure Client Cabinet and through a wide variety of payment options: Visa, Mastercard, AMEX, Neteller, Skrill, STICPAY, Local Japanese Bank Transfer, and bitwallet.

• Withdrawals are normally automatically processed within 1 business day, however, receipt of funds into your account can depend on the withdrawal method used as it may rely on the payment being processed by your payment provider. Titan FX enables clients to withdraw funds from their forex trading account via the following: Visa, Mastercard, Neteller, Skrill, STICPAY, Local Japanese Bank Transfer, bitwallet.

Apps

Titan FX offers its clients the world’s leading trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as a Mobile trading applications. With the Titan FX Metatrader application, available for iPhone, iPad and Android, you can control your account, trade in financial markets and use 30 technical indicators for market analysis, as well as get financial news and emails. It also includes real-time quotes of financial instruments, the full set of trade orders, including pending orders, full trading history with search.

Demo Account

All Titan FX clients have access to their customised version of the industry standard trading platform, MetaTrader 4 and MetaTrader 5 (MT5 Forex Brokers).

The broker gives an opportunity to trial the platform for free with a demo account, valid for 30 days and with USD$50,000 of virtual funds included. Other equity amounts and account currencies are available by request. Its demo account uses a live price feed from Titan FX servers and is as close to the real trading experience as you can get. Whether you want to expand your trading knowledge or prove your trading strategy, MetaTrader platforms from Titan FX are the perfect tool.

Titan FX Review Conclusion

Overall, there is not a sustainable trust to the delivered Titan FX trading environment since there are many complaints from the broker’s clients along with the official statement from the regulator.

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.

• Overall ranking and experience for Titan FX is Negative