Amega Review & Ratings - Forex Broker

Amega Review

Excellent trading platform
Reasonable trading fees

Questionable past
Not licensed or regulated
Poor customer support
Limited array of tradeable assets

AMEGA is a Russian online trading brokerage that facilitates the trading of forex and CFDs on a variety of tradeable assets. The AMEGA brokerage is not international and actually has a narrow scope of traders that consists mostly of traders from Russia and parts of Asia. AMEGA only provides their services in two languages being Russian and English and is therefore a very specific trading brokerage as to the clients they serve. AMEGA is owned and operated by Amega Ltd. and is based offshore in the Marshall Islands with their headquarters located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960. As AMEGA is located offshore, they are not licensed or regulated by any reputable regulatory authorities. Therefore, can the AMEGA online trading brokerage be trusted and how are the trading services they provide? In the following review we delve into these questions and more as we discover the truth about AMEGA and shine light on the quality and extent of their trading services and whether or not they can be trusted.

Trading Platform

Perhaps the most aspiring aspect of the AMEGA online trading brokerage is their sophisticated MetaTrader 5 (MT5) trading platform. The MT5 trading platform is the new and improved platform by MetaTrader, the most popular and preferred brand of trading platforms in the world. The MT5 trading platform is highly advanced yet intuitively designed making for a seamless trading experience for both beginner and experienced traders. The platform differs from it’s predecessors by better facilitating the trading of multiple asset types all under one trading account and one trading platform interface. Now, traders can trade thousands of financial assets and have access to multiple order types, a complete charting package, and one click trading directly from the charts. Furthermore, traders can participate in automated trading by implementing Expert Advisors (EAs) which are advanced algorithmic trading signals that identify opportunities and trade on your behalf. All in all, the MT5 trading platform utilized by AMEGA is truly phenomenal and is sure to impress nearly every kind of trader.

Another thing worth mentioning is, not only is the MT5 trading platform available for download across all desktop computers including Windows, Mac, and Linux operating systems, but it’s also available for free download from the Apple App Store and Google Play Store on iOS and Android mobile devices. The platform maintains much of the same functionalities as the desktop platform but allows traders to take it with them in their pocket.

Exchange Markets

AMEGA deals strictly in the forex (foreign exchange markets) with the tradeable financial assets of currency pairs and it’s crosses, metals, and futures. Overall, the extent of tradeable assets is extremely limited. As well, the brokerage has conflicting information published on their site as they claim to offer the trading of stocks but in fact do not. All in all, it appears that AMEGA is still getting their bearings strait and working on delivering a full product offering. As of now, the brokerage appears to be rather incomplete with the extent of financial assets and trading services they provide.

Fees and Commission

AMEGA’s trading fees are based on the type of account and tradeable asset chosen by the trader. The fees and commission do vary between account types but are overall fairly wide compared with the industry standards. Traders do not incur fees by the broker for any deposits or withdrawals, however the payment provider used may charge fees. As for other account associated fees, no other fees are disclosed. See below, the trading fees associated with each type of trading account.

Mini Account

Fixed spreads from 3 pips
Zero commissions

Premium Account

Floating spreads from 0.5 pips
Zero commissions

Swap Free Account

Fixed spreads from 3 pips
Zero commissions

Security and Fairness

Upon researching and testing out the AMEGA online trading brokerage, we came across absolutely no information regarding the company and their history. Also, AMEGA is not a licensed or regulated trading brokerage which raises some red flags for us. The broker also doesn’t disclose any of the security measures they take or security technologies they implement. Also, the brokerage is located offshore and appears to have undergone some major changes in which company owns and operates the broker. All in all, the history and reputation of AMEGA is questionable and does not exude confidence in trading with them.

Support

As far as customer support goes, it is very limited as email is the only primary method of contacting support representatives. Other forms of contact include Facebook, Telegram, Skype, Viber, and a couple other Russian social media channels. Support representatives are available Monday to Friday from 9:00 – 17:00 GMT +3. Also, customer support is provided primarily in the Russian language or broken English. In addition to the customer support methods mentioned here, traders can check out the website’s FAQ page for an extensive list of questions. However, the answers to all questions are very concise and uninformative.

Conclusion

The AMEGA online trading brokerage appears to be a viable broker to trade with at first glance, but after in-depth research into the brokerage and their services, it’s clear that AMEGA falls behind much of the competition. For instance, AMEGA is not a licensed or regulated online trading brokerage and they are located offshore. As well, the broker has a very narrow tradeable products offering, limited customer support, and a questionable past. All in all, if you plan on trading with the AMEGA online trading brokerage, be sure to proceed with extreme caution.