AG Markets Review
AG Markets Review
AG Markets provides various trading accounts, depending on the initial investment. All of them offer variable spreads, commission-free trading, leverage up to 1:400 and the option to trade in micro lots on the MetaTrader 4 platform.
The Company. Security of Funds
Advanced Global Markets Ltd.
AG Markets is a Forex and CFD broker that was established in 2013 by its CEO, Carlos Ferrer. It has its headquarters in New Zealand and offices in Mexico.
The company behind the brand, Advanced Global Markets Ltd., is registered in the Financial Service Provider Register (FSPR) and as such is regulated and supervised by the Financial Markets Authority (FMA).
Forex brokers regulated in New Zealand are required to adhere to a set of standards. Under the FMA client money rules, they must segregate all retail client funds from their operational ones. What is more, they have to follow anti-money laundering regulations.
Besides, FMA releases periodic updates and press releases about the state of financial markets and the warnings about potential scams, unregistered business, and deregistered brokers.
Minimum Initial Deposit
The minimum initial deposit required by AG Markets is $250. This is a reasonable amount to start trading with, however other brokers, like IG (initially a UK brokerage that also holds a license with FMA), does not require any minimum deposit.
Commission & Spreads
This broker offers commission-free trading and variable spreads. According to its website, the spread for the EUR/USD starts at 0.8 pips, which sounds great. However, when we tried out AG Markets’ practice account, we found out that the spreads are around 2.2 pips for the EUR/USD pair, which is above the average range of 1.0 – 1.5 pips for this pair.
In comparison, IG provides spreads averaged 0.8 pips on EUR/USD on its commission-free accounts. You may check out and compare real-time spreads of 15 leading brokers here.
The maximum leverage level offered by AG Markets is 1:400, which is considered high, yet most brokers usually offer leverage ratios between 1:200 – 1:400. IG, for instance, provides leverage up to 1:200.
We advise traders to operate carefully with high leverage levels, because the higher the leverage, the greater the risk of losses, which may even exceed initial investments.
As we have mentioned above, AG Markets offers the good old MetaTrader 4 (MT4), available in all forms and shapes.
This platform is globally popular for its innovative, on the go trading capabilities, variety of built-in indicators, advanced charting tools, automated trade options (EAs) and extensive back-testing environment. Here is a list of more forex brokers offering MT4 platform.
AG Markets’s MT4 web platform. Click to enlarge.
AG Markets offers various bonuses:
– 100% trading bonus (up to a maximum of €/$5,000) to clients with deposits of at least €/$ 1,000. Trading volume requirements apply. For example, If you have deposited $1,000, you get $ 1,000, but you have to trade 200 lots for at least 3 months.
– Refer a friend bonus of 10% of the referral’s first deposit. Trading volume requirements apply: you and are required a minimum trade of $20,000 per each $1 bonus.
Methods of Payment
AG Markets’ clients are offered the following modes of payment: Credit/debit cards, bank wire transfer, e-wallets Skrill, Neteller, SafeCharge, AlgoCharge, MegaTranfer, RegularPay, MoneyNet International, AstroPay, Multibanco and Oxxo.
AG Markets is looks like a decent broker operating under the licensing and regulation requirements of New Zealand. However, we find its spreads quite high.
AG Markets Review Conclusion
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