Overview of AM Tradex
AM Tradex is a company based in Saint Vincent and the Grenadines, operating for approximately 1-2 years. The regulatory license held by the company is deemed suspicious, as it lacks oversight or supervision from reputable regulatory authorities. As a result, trading with AM Tradex carries significant risks, including concerns about fund security, operational transparency, and overall credibility. Potential clients should exercise caution and consider alternative options regulated by recognized authorities for enhanced protection.
The company offers a wide range of market instruments, including derivative trading with various currency pairs, access to global indices, trading in precious metals, commodities, and individual company shares. Traders can choose from three account types, each with different features and minimum deposit requirements. The trading platform provided is XOH, which offers a user-friendly interface and access to a broad array of instruments. Leverage options are available up to 1:500, allowing traders to amplify their positions relative to their invested capital.
AM Tradex provides customer support through multiple channels, such as email, live chat, and contact forms, catering to different regions. However, reviews on WikiFX have raised concerns about the company's involvement in a pyramid scheme and difficulties faced by users in withdrawing their funds. Overall, potential clients should carefully weigh the risks and consider regulated alternatives when evaluating AM Tradex as a trading platform.
Pros and Cons
AM Tradex offers a range of potential advantages and disadvantages for traders. On the positive side, the broker provides access to over 200 market instruments, allowing for diverse trading opportunities. Traders can also make use of a demo account to practice their strategies before engaging in real-money trading. The XOH trading platform is user-friendly and offers spreads starting from 0.1 pips. Additionally, traders can utilize leverage up to 1:500 to potentially amplify their trading positions. However, it is important to note that AM Tradex operates without valid regulation, which raises concerns about the security of funds and transparency of operations. There have been complaints regarding a potential pyramid scheme and difficulties with fund withdrawals. Additionally, there is limited information available on specific market instruments offered by the broker, and no education resources are provided for traders.
Is AM Tradex Legit？
AM Tradex is currently operating without valid regulation. This means that the broker is not subject to oversight or supervision by any reputable regulatory authority. As a result, there are significant risks associated with trading with this broker. It is important to exercise caution and carefully consider the potential consequences before engaging in any financial activities with an unregulated entity. The absence of regulation raises concerns about the security of funds, transparency of operations, and overall credibility of the broker. Therefore, it is advisable to explore alternative options that are regulated by recognized authorities to ensure a higher level of protection and peace of mind.
Market Instruments
AMTradex offers over 200 market instruments for trading:
Derivative Trading:
AMTradex offers a variety of derivative trading options to its clients. These include over 38 major, minor, and exotic currency pairs. These pairs encompass various combinations such as USD/EUR, JPY/USD, GBP/USD, USD/ZAR, and EUR/TRY. Derivative trading in currency pairs allows investors to speculate on the price movements of different currencies, offering potential opportunities for profit.
Indices:
AMTradex provides access to 9 global indices, allowing traders to participate in the performance of major stock markets worldwide. These indices represent the overall performance of a specific group of stocks from a particular region or sector. Some of the indices available for trading include the S&P 500, NASDAQ 100, and France 40. Trading indices provides investors with exposure to broader market trends and allows for diversification within the stock market.
Metals:
AMTradex enables trading in precious metals, including gold, silver, platinum, and copper. Precious metals are considered safe-haven assets and are often sought after during times of market volatility. They can serve as a hedge against inflation and currency fluctuations. Traders can speculate on the price movements of these metals and potentially profit from their changing values.
Commodities:
AMTradex offers trading opportunities in various commodities, including oil, gas, and agricultural products. These commodities play a crucial role in global economies and are subject to supply and demand dynamics. Trading commodities allows investors to take positions based on their expectations of price movements in these markets. Examples of tradable commodities include crude oil, natural gas, corn, wheat, and soybeans.
Shares:
Traders can choose from over 150 shares to invest in, allowing them to participate in the performance of individual companies. These shares represent ownership in the respective companies and can provide opportunities for capital appreciation and dividends. Examples of available shares include those from renowned companies such as Apple, Microsoft, and Amazon.
Pros and Cons
Account Types
AMTradex offers three account types, including the Standard Account, VIP 1 Account, and VIP 2 Account, each catering to different trading preferences and investment levels.
Standard Account:
The Standard Account offered by AMTradex requires a minimum deposit of $500. It provides floating spreads starting from 1.4 pips, with no commission charges. Traders can utilize leverage up to 1:500 and trade order volumes ranging from 0.01 to 100 lots. The platform used for this account type is XOH, and there are no limitations on the maximum number of open positions. Execution is carried out in the market, and a swap-free option is available for stock trading.
VIP 1 Account:
For those looking for a higher-tier account, the VIP 1 Account requires a minimum deposit of $5,000. It offers more features, including floating spreads starting from 0.6 pips. A commission fee of $10 is applicable. Leverage of up to 1:500 is available, along with the ability to trade order volumes ranging from 0.01 to 100 lots. The trading platform remains XOH, and there are no restrictions on the maximum number of open positions. Execution takes place in the market, and a swap-free option is provided for stock trading.
VIP 2 Account:
The VIP 2 Account is designed for traders with a higher level of investment, requiring a minimum deposit of $20,000. This account type offers spreads, starting from 0.1 pips. A reduced commission fee of $6 is applied. Traders can utilize leverage up to 1:500 and trade order volumes ranging from 0.01 to 100 lots. The platform used for this account is XOH, and there are no limitations on the maximum number of open positions. Execution is carried out in the market, and a swap-free option is available for major forex, metals, and stock trading.
AMTradex also offers a demo account feature, allowing traders to practice and familiarize themselves with the platform before engaging in real-money trading.
Pros and Cons
How to Open an Account？
To open an account with AMTrade, follow these simple steps:
Visit the AMTrade website and click on the “Open Live Account” or “Open Demo Account” option.
Fill in the required information in the registration form, including your first name, last name, email address, and date of birth.
Select your country from the provided options.
Enter your phone number, including the country code.
If you have a referral code, enter it in the designated field.
Choose the platform you wish to use, such as “Standard A.”
Read and agree to the Terms and Conditions.
Complete any additional security verification, such as typing the displayed text or solving a captcha.
Finally, click on the “Sign Up” button to submit your account registration.
Leverage
AMTradex provides leverage options for traders across its account types. The leverage offered by AMTradex can reach up to 1:500, allowing traders to potentially amplify their trading positions relative to their invested capital.
Spreads & Commissions
AMTradex offers different spreads and commission structures depending on the account type. The Standard Account features floating spreads starting from 1.4 pips with no commission charges. The VIP 1 Account provides spreads starting from 0.6 pips and a commission fee of $10. For the VIP 2 Account, traders can benefit from spreads starting from 0.1 pips and a reduced commission fee of $6.
Minimum Deposit
AMTrade's official page states a minimum deposit requirement of $10. However, it is important to note that this minimum deposit may vary depending on the chosen account type. The Standard Account necessitates a minimum deposit of $500, the VIP 1 Account requires $5,000, and the VIP 2 Account mandates $20,000 as the minimum deposit amount.
Deposit & Withdrawal
AMTradex offers two methods for transferring funds, following internal and regulatory procedures to facilitate safe processing. Local Bank Transfers are available, with a potential wait time of up to two days depending on the bank. Online Banking users may receive same-day payments. Withdrawal fees are applicable, with a 2% charge on amounts withdrawn via methods like Skrill and Neteller. International payments and different currencies are automatically converted to the live exchange rate of AMTradex's XOH trading platform at the time of withdrawal. To maintain security, AMTradex only accepts withdrawals made in the account holder's name, prohibiting third-party transactions.
Withdrawal from the AMTradex account is a standard procedure that can be initiated during weekdays. Requests are usually processed within 24 hours.
Pros and Cons
Trading Platforms
XOH Trading Platform: The XOH Trading Platform offered by AMTradex provides a range of features and tools to enhance the trading experience. It offers an easy-to-use interface with charts that include over 40+ indicators, adjustable working areas, and customizable templates. The platform also incorporates a built-in news feed and advanced filtering tools to assist in making informed trading decisions. With XOH, traders can access a wide variety of instruments, with over 5,000 options available. The platform is designed to be user-friendly, making it suitable for both experienced traders and those new to the trading world.
The XOH Trading Platform combines powerful functionality with simplicity, offering market news that aids in both technical and fundamental analysis. Traders can easily manage charts using their own templates and gain insights into top movers and market sentiments. The platform also emphasizes transparency, providing users with clear information on fees, volumes, and margins. Furthermore, XOH offers a mobile trading experience through its iOS and Android applications, allowing traders to access the platform on the go.
Pros and Cons
Trading Hours
AMTradex provides traders with the options to engage in online trading throughout the day, capitalizing on the opening and closing times of major financial centers worldwide. With sessions like the New York market (01:00 pm - 10:00 pm GMT), the Sydney market (10:00 pm GMT onwards), the Tokyo market (00:00 am - 9:00 am GMT), and the London market (8:00 am - 05:00 pm GMT), traders can access a continuous cycle of trading opportunities. However, it's important to be aware that extended trading hours can introduce heightened volatility and unpredictable market conditions, necessitating a cautious and well-informed approach to risk management.
Customer Support
AMTradex provides customer support through various channels, including email, live chat, and contact forms. Their contact details are listed for different office locations, such as Hong Kong, London, SVG Headoffice, and Vietnam. This allows customers to reach out to the company based on their preferred location or region.
The availability of multiple contact options demonstrates their willingness to cater to customers' diverse needs and preferences. Whether through email or live chat, customers can seek assistance or clarification regarding their queries or concerns. The inclusion of a contact form on their website also provides an additional avenue for customers to reach out and receive prompt responses.
For example, customers can send an email to the provided email addresses specific to their region, such as hk_support@amtradex.com for Hong Kong or uk_support@amtradex.com for the United Kingdom.
Moreover, AMTradex acknowledges the importance of addressing customer inquiries comprehensively. They encourage customers to provide detailed information when filling out the contact form. In addition to traditional contact methods, AMTradex has a presence on social media platforms such as Facebook, LinkedIn, and Twitter.
Reviews
According to the reviews on WikiFX, AMTradex has received two exposures in total, with complaints of being involved in a pyramid scheme. The main issue highlighted is the difficulty faced by users in withdrawing their funds. Users reported that despite making new deposits for withdrawal, the company failed to process their requests and even forced them to engage in a large number of transactions without granting the withdrawal.
Conclusion
AM Tradex, currently operating without valid regulation, presents potential opportunities for traders seeking access to a wide range of market instruments. The broker offers over 200 market instruments for trading, including major, minor, and exotic currency pairs, global indices, precious metals, commodities, and shares from renowned companies. Traders can benefit from the three account types, each catering to different trading preferences and investment levels. The XOH Trading Platform, with its user-friendly interface, advanced charting tools, and mobile trading capabilities, enhances the overall trading experience. Moreover, AM Tradex provides customer support through various channels, including email, live chat, and contact forms, showing their willingness to cater to customers' diverse needs and preferences. However, it is essential to consider the risks associated with trading with an unregulated broker and the reported complaints about withdrawal difficulties when making decisions about engaging with AM Tradex.
FAQs
Q: Is AM Tradex a legitimate broker？
A: AM Tradex is currently operating without valid regulation, posing significant risks to traders. Caution is advised.
Q: What market instruments can I trade with AM Tradex？
A: AM Tradex offers over 200 market instruments, including currency pairs, indices, precious metals, commodities, and shares.
Q: How do I open an account with AM Tradex？
A: Visit the AM Tradex website, fill in the registration form, choose an account type, agree to the Terms and Conditions, and submit your registration.
Q: What is the leverage offered by AM Tradex？
A: AM Tradex provides leverage options up to 1:500, allowing traders to amplify their trading positions.
Q: What are the deposit and withdrawal methods at AM Tradex？
A: AM Tradex offers local bank transfers and online banking for deposits and withdrawals. Withdrawal fees and security verification are applicable.
Q: What trading platform does AM Tradex use？
A: AM Tradex utilizes the XOH Trading Platform, offering advanced features, customizable charts, news feeds, and mobile trading options.
Q: What are the trading hours at AM Tradex？
A: AM Tradex allows trading throughout the day, aligning with the opening and closing times of major financial centers globally.
Q: How can I contact customer support at AM Tradex？
A: AM Tradex provides customer support via email, live chat, contact forms, and office-specific contact details for different regions.
Q: What are the reviews of AM Tradex？
A: According to WikiFX, AM Tradex has received complaints regarding a pyramid scheme and difficulties with fund withdrawals.
Q: Should I trade with AM Tradex？
A: Trading with AM Tradex poses risks due to the lack of valid regulation. It is advisable to consider regulated alternatives for better protection and peace of mind.
2023-07-30 22:32
2023-03-16 13:38
