Forex trading is a fast moving and ever-changing endeavour that requires a certain level of expertise and competence. Therefore, it is of the utmost importance to choose a reputable and competent forex broker to trade with. However, the process of discovering which brokers to deal with can be quite daunting and overwhelming, which is why we strived to make this process easier for you by reviewing the AG Markets broker. AG Markets (AGM) is a reputable forex and CFD trading brokerage that was established in 2013. The company is owned and operated by Advanced Global Markets Ltd and has its company’s headquarters located in Auckland, New Zealand. The brokerage is a registered member of the Financial Services Providers Register of New Zealand (FSPR) under licence number 4674959. AG Markets is a well-known forex broker in New Zealand, but does it offer competent and reputable services? Let’s find out in the following review.
The AG Markets trading brokerage offers their clients only 1 trading platform – the MT4 platform (MetaTrader 4). While this may be the only trading platform available to AG Markets clients, it is an immensely popular and exceptional trading platform. It’s the most popular trading platform to date, and provides traders with all the complex tools and features for in depth trading and analysis. However, the platform is not perfect and comes with its own faults. Some brokers offer their own proprietary platforms with additional features and advanced tools, while AG Markets does not. However, the MetaTrader 4 platform serves traders well enough, which is why it’s the most popular trading platform in the world.
AG Markets has utilized MetaTrader 4’s full capabilities in all the forms possible. The brokerage offers their traders an intuitive MT4 WebTrader platform which can be used on numerous laptops any time any where. They also provide traders with the downloadable application for both Mac and PC computers. As well, mobile MT4 applications can be used on both Android and Apple smart phones and tablets for when you’re trading on the go.
AG Markets supports the trading of various assets and instruments, the most popular being forex trading. In addition to forex trading, the brokerage supports the trading of indices, precious metals, commodities and stocks. Let’s see what’s offered in these markets below:
- Forex Trading: 20 forex pairs are available for trading. Among the pairs all the Majors, Minors, and some Exotic forex pairs are available. Each pair offers leverage of 200:1, and spreads as low a 0.8 for Major pairs.
- Indices: There are 14 Indices to trade in the Global, National, and Sector indices markets.
- Precious Metals: Traders have access to the trading of 5 special metals which include gold, silver, palladium, platinum and copper.
- Commodities: Energy assets available for trading include crude oil, natural gas, heating oil, coal, diesel, ethanol and some other crude oil derivatives.
- Stocks: A variety of stocks are available to trade as a CFD’s (contract for difference).
AG Markets offers customer support in a variety of ways. Traders can receive support through their online form, live chat, email, or through telephone. The support methods available are supported in four languages being English, Spanish, French, and Portuguese. While their support options are plentiful, they seem to be lacking in quality and promptness. Many customer reviews have stated very slow response time and quality of the support. However, AG Markets offers extensive educational material geared to inform and educate traders on the markets, trading, and their MT4 trading platform. As well, they feature an extensive FAQ page and educational videos.
Security and Fairness
AG Markets is registered in the Financial Service Provider Register (FSPR), as well as licensed and regulated by the Financial Markets Authority (FMA). This registration and regulation ensure the brokerage is compliant with various regulatory guidelines that ensure the safety of client’s funds and trading practices. For instance, all the client’s funds are segregated from AG Markets. As well, they follow anti-money laundering laws and produce periodic audit reports. AG Markets is known to be safe and secure as the FMA promotes best practices and releases updates and reports of fraudulent brokerages.
AG Markets Pros
- The broker is registered and regulated by reputable authorities.
- The familiar MT4 trading platform is used and loved by many. As well, online and mobile MT4 trading platforms are available.
- No commission fees with this broker as fees are calculated on spreads.
- Bonuses and promotions are available upon signing up.
- Extensive education resources, complete with videos, guides, FAQ, and articles.
AG Markets Cons
- Some of the trading instruments can have high spreads.
- No choice for trading platforms, only 1 available.
- Customer support promptness is lacking.
As far as we can tell, AG Markets is a legitimate and reputable broker backed by a reputable regulatory agency in New Zealand. The trading platforms available are limited to 1, but is an outstanding platform to use. Customer support could use some improvements but have numerous contact methods available. The trading instruments available are satisfactory and offer decent spreads for most. Traders seeking a reputable broker based in New Zealand will be quite satisfied with AG Markets.