What We Tested
- Account type: Standard Account ($300 starting balance for test)
- Platform: MT5 Desktop
- Trading period: 3 months, 55 trades executed
- Pairs tested: EURUSD, Crypto CFDs
- Withdrawal tests: 2 successful (Skrill, Bank Wire)
- Support tests: 4 inquiries via live chat
Testing focused on verifying the spread consistency and evaluating the reliability of the integrated copy trading platform.
Regulation & Safety
AMarkets relies on mid-tier offshore regulation for its primary global entities:
- FSC (Mauritius) – Tier-3 regulation. Offers basic oversight but limited fund protection.
- VFSC (Vanuatu) – Tier-3 regulation. Minimal oversight for non-Mauritius clients.
Spreads & Execution
| Pair/Asset | Standard Avg Spread | ECN Avg Spread | Commission (ECN) |
|---|---|---|---|
| EUR/USD | 1.8 pips | 0.4 pips | $8.00/lot RT |
| GBP/USD | 2.2 pips | 0.6 pips | $8.00/lot RT |
| Crypto CFDs | Variable | $0 | Wide spreads apply |
Standard Account spreads are very wide (commission-free). ECN Account commission ($8 RT) is high compared to industry leaders.
Execution Model and Quality
- Execution Model: Market Maker (Hybrid/Dealing Desk)
- Fill Reliability: Acceptable speed, but wide spreads increase cost immediately.
- Cost: High due to wide spreads and uncompetitive ECN commission.
Execution is functional but not competitive. The wide spreads on the commission-free account make it highly expensive for day trading.
Uncompetitive Trading Costs
The total cost of trading at AMarkets is significantly higher than necessary in the retail market:
- Standard Account: 1.8 pips EUR/USD spread costs $18 per lot (3x higher than fair spread-only brokers).
- ECN Account: $8 RT commission is $3.50 more than the industry-leading commission rate.
Traders using AMarkets are paying a premium for a service that offers lower regulatory safety and poorer execution than competitive ECN brokers.
Account Types & Fees
Standard Account
- Min deposit: $100
- Spreads: From 1.8 pips
- Commission: $0
- Best for: Beginners who prefer commission-free simplicity.
ECN Account
- Min deposit: $200
- Spreads: From 0.0 pips
- Commission: $8.00/lot RT (High)
- Best for: ECN traders (despite high commission).
Other Fees
- Deposit fees: $0 (all methods)
- Withdrawal fees: Yes (Varying fees apply to e-wallets, crypto, and bank transfers).
- Inactivity fee: None
- Swap rates: Standard overnight financing applies; Islamic accounts available.
Deposits & Withdrawals (Tested)
Funding supports common methods, but withdrawal fees are a significant negative factor:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card/Debit Card | $200 | 1 business day | Varies | Fees often apply. |
| Bank Wire | $500 | 3-5 business days | Varies | External fees apply. |
| Skrill/Neteller/Crypto | $100 | Same day (4 hours) | Yes (1%-3%) | Fees commonly applied. |
Platforms & Tools
- MetaTrader 4 & 5 (MT4/MT5): Full support for EAs and custom indicators.
- Copy Trading: Proprietary social/copy trading platform integrated.
Our Take: Platform support is standard, focusing on universal compatibility and integrated copy trading.
Customer Support (Tested)
AMarkets offers multilingual 24/5 support:
- Live Chat: 24/5, responsiveness is average.
- Quality: Customer service is functional but lacks the deep product knowledge of Tier-1 competitors.
Support is adequate for basic inquiries but does not compensate for the weak regulatory status.
PROS
- Zero inactivity fee.
- MT4/MT5 support for EAs.
- Integrated Copy Trading platform.
CONS
- Primary regulation is Tier-3 (FSC Mauritius) — high regulatory risk.
- Very wide spreads on the Standard Account (1.8 pips min).
- High commission on ECN Account ($8.00 RT).
- Withdrawal fees apply to many methods.
Who Should Use AMarkets?
- Great fit: Copy traders who are comfortable with high costs and weak offshore regulation.
- Not ideal: Anyone prioritizing Tier-1 safety (FCA/ASIC), or any cost-sensitive active trader (costs are too high). Avoid.
Final Verdict
AMarkets offers an average trading environment, severely hampered by high trading costs and reliance on weak Tier-3 offshore regulation (FSC Mauritius).
The 1.8 pip spread on the Standard Account is high, and the $8.00 RT ECN commission is uncompetitive. This broker's fee structure guarantees higher costs than necessary.
The regulatory weakness and poor cost-to-value ratio place AMarkets in the 'Below Average' category.