AMFX claims to be a leading forex broker located in London. Am-fx.com claims that new traders stand the chance to win an iPad. If this interests you, join us below as we take an in-depth look at the features am-FX. com allegedly offers. The review covers aspects of its licensing, its account types, its leverages, its withdrawal, and deposit methods. Read through our review to see what we and other experts have to say about this broker.
Table of Contents
AMFX Trading Platform
AMfx claims provide access to the MT4 trading platform where they offer assets like Forex, CFDs, and Precious metals(Gold and Silver) with competitive spreads and flexible leverage.
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They offer the option of a demo account in case you feel the need to test anything out before opening a live account.
The website didn’t impress us; it looked unprofessional and poorly designed.
AMFX also claims that their new traders stand the chance of winning iPads. We find this claim to be very unlikely and shady.
AMFX Account Types
This broker has three account types,
The Micro, Premium, and DMA
The Micro has a minimum deposit of $500, an amount that is twice as high as the acceptable minimum
The Premium provides a leverage of 1:400 for a minimum deposit of $1,000
The DMA provides a leverage of 1:100 for a minimum deposit of $25,000.00
Is AMFX Licensed?
This broker claims that AMFX and AMFX Prime are trading names of SVS Securities Plc. Registered in England and Wales no. 04402606. And it claims to be located at 110 Fenchurch Street, London, EC3M 5JT.
They say that they are authorised and regulated by the Financial Conduct Authority in the UK, under registration number 220929 and a Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.
After checking the database of the FCA, we couldn’t find their name. In fact, the FCA had earlier in 2015 issued an alert for their original website. AMFX decided to keep the name and change their domain name.
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Accounts
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
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BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
This broker is obviously a scam and run by scammers. We do not advise anyone to trade with them as doing so will surely result to you losing your money.