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The WikiFX Score of this broker is reduced because of too many complaints!

AMUNDI

China|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://dya.amuud.com

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https://dya.amuud.com
The WikiFX Score of this broker is reduced because of too many complaints!

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No valid regulatory information, please be aware of the risk!

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No restriction on the broker account. Support service provided by WikiFX

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Broker Information

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Company Name

鋒匯集團

Company Abbreviation

AMUNDI

Platform registered country and region

China

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-03-01
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 7 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

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Expose

    AMUNDI · Company Summary

    Aspect Information
    Registered Country/Area China
    Company Name AMUNDI
    Regulation Unregulated
    Minimum Deposit $1
    Maximum Leverage 1:1000
    Spreads Variable, influenced by market conditions
    Trading Platforms MetaTrader 4 (MT4) and SalmaFX Trader mobile app
    Tradable Assets Forex, CFDs on Indices, Cryptocurrencies
    Account Types Single type: STP Account
    Demo Account Available with $10,000 demo margin
    Customer Support Limited or not specified
    Payment Methods Bank transfer, Fasapay, NETELLER
    Educational Tools Limited or not specified

    Overview

    AMUNDI, based in China, operates as an unregulated brokerage firm, which raises significant concerns about investor protection. While it offers a low minimum deposit of $1 and a high maximum leverage of 1:1000, the lack of regulatory oversight is a major drawback. Spreads are variable and influenced by market conditions. The trading platforms include MetaTrader 4 (MT4) and a mobile app, but the absence of regulatory compliance and reports of its website being down and associated with scams or fraud are alarming. Educational resources are also limited, and customer support is either limited or unspecified. Traders should exercise extreme caution when considering AMUNDI as their trading platform.

    basic-info

    Regulation

    AMUNDI operates as an unregulated brokerage firm, lacking oversight and regulatory safeguards. This exposes investors to higher risks, including potential fraud and fund mismanagement. Individuals considering AMUNDI or similar unregulated brokers should be cautious, conduct due diligence, and consider regulated firms for better investor protection.

    regulation

    Pros and Cons

    Pros Cons
    • Offers a range of trading instruments
    • Operates as an unregulated brokerage firm
    • Low minimum deposit of $1 for the STP Account
    • Limited customization options due to the absence of account tiers
    • High maximum leverage of 1:1000
    • Relatively outdated MetaTrader 4 (MT4) trading platform
    • Availability of a Demo Account for practice
    • Lack of customer support and educational resources
    • Various deposit methods, including instant options
    • Reports of website downtime and fraud/scam allegations

    AMUNDI presents both advantages and disadvantages for traders. It offers a range of trading instruments, low minimum deposits, high leverage, and a demo account for practice. However, its unregulated status raises concerns about investor protection. The use of an outdated MT4 platform and the absence of customer support and educational resources may deter traders. Additionally, reports of website downtime and fraud allegations warrant caution when considering this broker.

    Market Instruments

    AMUNDI offers a range of trading instruments, including:

    1. Forex (Foreign Exchange):

      1. products
      2. Forex trading involves the exchange of one currency for another, such as EUR/USD (Euro/US Dollar) or EUR/GBP (Euro/British Pound). Traders speculate on the price movements of these currency pairs.

    2. CFDs on Indices:

      1. CFDs (Contracts for Difference) on indices allow traders to speculate on the price movements of stock market indices like JPN225 (Japan 225), AUS200 (Australia 200), GER40 (Germany 40), UK100 (UK 100), and ESTX50 (Euro Stoxx 50).

    3. Crypto (Cryptocurrencies):

      1. Crypto trading involves digital currencies like BTC (Bitcoin), ETH (Ethereum), and XRP (Ripple). These cryptocurrencies are used for various purposes, including digital transactions and investments.

    Account Types

    AMUNDI offers a single trading account type known as the STP Account, which caters to traders of various experience levels. However, it's important to note that AMUNDI does not offer multiple account tiers, which may limit customization options for traders seeking specific features or benefits.

    STP Account Details:

    • Minimum Deposit: $1

    • Maximum Leverage: 1:1000

    • Demo Account: Available

    • Demo Margin: $10,000

    • Customization: Limited

    • Suitable For: Traders of Various Experience Levels

    STP Account Features:

    1. Affordable Entry: The STP Account has a low minimum deposit requirement of just $1, making it accessible to traders with varying budgetary constraints. This affordability can be particularly attractive to novice traders.

    2. High Leverage: The account offers a high maximum leverage of 1:1000, potentially allowing for amplified positions in the market. However, it's important to understand that higher leverage also entails higher risk.

    Demo Account Option:

    AMUNDI also provides traders with the option to open a Demo Account, which is suitable for beginners. This demo account offers a risk-free environment for practice. However, traders should be aware that the demo trading experience may not perfectly replicate real market conditions and is often designed to encourage traders to transition to live trading.

    In summary, AMUNDI primarily offers the STP Account for live trading, while the Demo Account is available for practice purposes. Traders should carefully consider their trading needs, risk tolerance, and understanding of leverage before engaging in live trading.

    Leverage

    leverage

    AMUNDI provides a generous maximum trading leverage of up to 1:1000 for its STP Account, enabling traders to manage positions worth up to 1000 times their initial deposit. It's crucial to recognize that while high leverage can magnify potential gains, it also carries a substantial risk of losses. To safeguard their capital and engage in responsible trading, traders must exercise caution and employ effective risk management strategies when using such elevated leverage. A thorough understanding of leverage mechanics and associated risks is imperative before incorporating it into their trading strategies.

    Spreads and Commissions

    Spreads: AMUNDI offers variable spreads, meaning that the spread's width can vary based on market conditions. These variable spreads are influenced by factors like market volatility and liquidity. Traders should be mindful that while variable spreads can offer narrower spreads in favorable market conditions, they might widen during periods of heightened volatility.

    Commissions: AMUNDI specifies a trading commission of 0 USD, indicating that there is no explicit commission fee applied to trades. Instead, the broker likely derives its revenue from the spread, meaning that traders indirectly incur a cost through the difference between the buying and selling prices, known as the bid-ask spread.

    Deposit & Withdrawal

    AMUNDI offers three primary deposit methods: bank transfer, Fasapay, and NETELLER. Each method has its own characteristics:

    Bank Transfer: This method is secure but typically takes 1 - 5 business days to process deposits, and it does not involve any commissions.

    Fasapay and NETELLER: These options allow for instant deposits with no associated fees.

    For withdrawals, you have the same choices:

    Bank Transfer: Withdrawals via bank transfer and Fasapay may take a bit longer to process, but they come with no withdrawal fees.

    NETELLER: NETELLER offers regular withdrawals with no fees. Additionally, there is a Wire Transfer option available with a 0.2% commission (minimum $30).

    It's important to note that all deposit and withdrawal methods use the “Current Exchange Rate.” For the most up-to-date information and details, it is advisable to refer to their official website.

    Trading Platforms

    trading-platform

    AMUNDI relies on the MetaTrader 4 (MT4) trading platform, a widely recognized industry standard known for its comprehensive tools suitable for traders of all skill levels. However, it's worth noting that AMUNDI's use of MT4 may be considered somewhat outdated compared to more recent trading software options.

    Furthermore, it's important to highlight that AMUNDI operates as an unregulated entity, which raises concerns regarding the reliability of their services, especially in terms of adhering to best execution practices.

    For mobile trading, AMUNDI offers the SalmaFX Trader mobile app, which closely resembles MT4. However, doubts may exist about its competitiveness due to AMUNDI's loss of licensing status.

    In summary, AMUNDI's primary trading platform remains MT4, but traders should exercise caution due to regulatory concerns. Exploring alternative platforms may be advisable for those seeking a more secure and up-to-date trading experience.

    Customer Support & Educational Resources

    AMUNDI appears to have limited or no customer support and educational resources available for its clients. This could potentially be a drawback for traders who value access to customer assistance and educational materials to enhance their trading knowledge and skills. When considering this platform, individuals should be aware of the lack of such support and resources and assess whether they are comfortable with this limitation.

    Summary

    AMUNDI, an unregulated brokerage firm, lacks oversight and regulatory safeguards, exposing investors to higher risks, including potential fraud. Their single STP Account offers high leverage, but caution is needed due to regulatory concerns. The MT4 trading platform is outdated, and doubts exist about their mobile app's competitiveness. AMUNDI's customer support and educational resources are notably limited. Furthermore, their website being down and reports of fraud or scams raise significant red flags. Traders should exercise extreme caution when considering this platform.

    FAQs

    Q1: Is AMUNDI a regulated brokerage?

    A1: No, AMUNDI operates as an unregulated brokerage firm, which means it lacks oversight from financial authorities.

    Q2: What trading instruments are offered by AMUNDI?

    A2: AMUNDI offers Forex, CFDs on Indices, and Crypto trading instruments.

    Q3: What is the minimum deposit required for the STP Account?

    A3: The minimum deposit for the STP Account is $1.

    Q4: Does AMUNDI offer a demo account for practice?

    A4: Yes, AMUNDI provides a Demo Account with a demo margin of $10,000.

    Q5: What deposit methods does AMUNDI support?

    A5: AMUNDI supports deposit methods including bank transfer, Fasapay, and NETELLER, each with its own processing characteristics.

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    Sheng85235
    more than one year
    AMUNDI is an unregulated forex broker and I see that its website is no longer open... for the worse, there are several complaints against this company. I hope they can get their money back as soon as possible.
    2023-02-14 18:08
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