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AMEGA: dubious reputation, lack of regulator, and account verification failures

The popularity of trading companies has been growing rapidly in recent years. It goes without saying that a reliable broker is a key element of successful trading. Investors trust someone with their money and they have to be sure that the company will guarantee its safety. The number of brokerage firms increases every year. Unfortunately, the high demand for this type of service did not go unnoticed by scammers. Nowadays, unscrupulous sham companies deceive traders by stealing their money and depriving them of legitimate financial profit.

In this article, we will tell you about the dubious reputation of AMEGA, namely about the regulator, reviews of other traders, and queer verification procedure.

About company

On the company's website, there is the "Regulation" section but without any information about the place of registration, regulatory authorities, or the history of brand development. There is also a lack of information in the "Contacts" section – only email addresses, links to social networks, and a feedback form. We were unable to find the address of the main office or phone numbers of the company. It means that this broker is likely to be another "Forex kitchen" that hides its location and does not even care about creating any brand story to lure clients.

On the Internet, there is information that the broker entered the financial market for the first time in 2018. Reviews of cooperation with AMEGA start to appear also in 2018.

AMEGA does not provide e-commerce services to residents of the Republic of Seychelles, the Republic of the Marshall Islands, the United States, or some other countries.

Notably, the company offers its customers a generous bonus program. AMEGA bonus programs are mentioned in all online reviews devoted to the broker's work. The company's entire news feed is full of big bonus announcements. Currently, a 150% bonus for the first deposit and a 100% bonus for each deposit are offered.

Some time ago, AMEGA also offered a $222 No Deposit Bonus that was quite popular among traders. Presently, there is no information about it on the website. Take a look at the reviews on the Internet:

Alexander Shah, 18.12.2018
Pros: account bonuses, convenient Windows and LOS platforms, prompt and polite support team
Cons: -
I'm a novice trader. I decided to embark on a journey to the forex world with AMEGA. On one of the forums, I saw an offer about the $222 No Deposit Bonus promotion. I was quite interested to learn more as I had long wanted to try myself as a trader. After I registered and received the bonus, I started learning the basics of trading, read the useful information, and watched many videos about it. The AMEGA-FOREX website provides both beginners and experienced traders with a lot of necessary materials, technical analysis, and expert opinion. From the very beginning of working with this broker, almost all orders were closed in a plus thanks to the fast order execution on both Windows and LOS platforms. As a result, I have only positive emotions after cooperation with AMEGA. So, I am really happy to discover this firm.

Emin Aliev, 20.12.18
Hi everyone! I’d like to thank AMEGA for giving me an opportunity to multiply my capital significantly thanks to a $220 No Deposit Bonus. Apart from it, the broker offers low spreads and easy ways to quickly withdraw money.

Crazy Life, 20.12.2018
Pros: quick order execution, fast website in comparison with other brokers
Cons: -
I fully appreciated trading with this broker, especially fast order execution. Now I earned my first money without large investments thanks to a 222$ No Deposit Bonuses to new clients. What is more, the broker gives a wide choice of trading accounts. The company's conditions are at a high level. I'm looking forward to further cooperation with the broker!

Curiously enough, these reviews are rated five stars. It is only the smallest part of the positive comments about cooperation with the broker. Did we unfairly accuse the broker of dishonesty despite so many satisfied traders?

Vladimir, Russia 02.03.2018
I read about this company on the Internet. Most of the comments are positive.

However, things are rather different from what was stated in those reviews. The fact is that some traders said that the broker gave $222 bonuses to client accounts with a promise that they could withdraw it if they left a positive review about the company. Could you expect such a trick? Of course, the broker's actions were criticized by many independent forums. Moreover, traders should also smell the rat: only think, more than $200 for one positive comment is too generous, isn’t it? There is no need to be a fortune teller to predict that investors will be unable to withdraw the bonus. Furthermore, we came across a lot of negative comments from traders. Importantly, many of them were left by the same people who wrote a laudatory review a month earlier. There were comments stating that the bonus program worked and the $222 bonus credited the trader's account. However, the number of such reviews is scarce. Besides, they seem far-fetched. Here are negative comments about the company:

Igor, Russia 22.07.2020
This is a company without a license or a regulator. I made a deposit but I could not withdraw my money. I don’t even want to remember the humiliating verification procedure when I literally had to hold a passport in hand near my face. I went through that humiliating procedure and they did not allow me to open an account. They just stole my deposit. I’m pretty sure that those swindlers cheat the money from traders rather than help them make a profit. Don't trust this company! There are plenty of regulated brokerage firms.

Ivan, 23.07.2020
I cannot get my money back. On the forums, many people complain about this problem but all messages are deleted by AMEGA managers. Unfortunately, I was tricked by fake positive reviews about this crooked enterprise and became a victim of scammers.

Sergey, 20.08.2019
Don't be fooled by No Deposit Bonuses. They won't let you withdraw it. You will be unable to pass the verification procedure and thus open an account. Stay away from these scammers!
Vladimir Sitalo, 01.07.2019
You cannot pass through the full verification. AMEGA comes up with more and more excuses! Is there anybody who has passed the full verification?

AMEGA verification procedure

You may have probably noticed that many investors complain about difficulties arising at the verification stage.

To withdraw money from the AMEGA website, you need to confirm your identity. Yet, a lot of traders cannot do it as they face insurmountable difficulties. What does the broker require?

Scanned copy of the passport and other documents. However, when the client provides necessary documents, the company's representatives say that there are some problems with the docs.

Yuri, 02.04.2019
I have sent them my passport photo five times! Nevertheless, each time the answer is the same: "you need to provide a color passport photo: the first page and the page with the registration must be submitted in high resolution. All letters and numbers must be clearly legible." I checked each document before sending. Everything was according to their requirements.
Igor, 15.03.2019
Verification was canceled. It is impossible to pass a new one. They require a passport photo. I have sent it many times. However, for some inexplicable reasons, my photo does not comply with the requirements. I decided that I’d rather stay away from this dubious enterprise. I would advise you to do the same.

They Constantly change the verification rules. The company's manager asks the trader to send a photo with the passport in hand or a photo of the document itself on a white background with a timestamp.

Before doing so, please remember that it is unsafe to reveal your personal data to suspicious brokers without registration. Don't you think it is odd that the company itself hides its address and other necessary information, but it obliges traders to disclose personal data?

Conclusion

It is not so difficult to raise the profile of the company with fake reviews. This is why many scammers do it without a moment of hesitation. They promise traders mountains of gold in exchange for a positive comment. Many laudable comments attract other gullible traders. However, it will not last forever. Sooner or later, without receiving the bonuses, traders will flood the Internet with negative comments. Do not rush to open an account with a broker after reading the tempting promises, you should look at the "Regulation" section as well as get acquainted with the main information about the company's activity. If the broker has no regulator and some brand history, you should stay away from such con organizations. By no means should you open an account with such a broker.

Apparently, the notoriously famous $222 No Deposit Bonus was the limitation of AMEGA’s creativity and fantasy as the company did not launch some other bonus contests.

The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
Author: Laurie | Date 2021-01-12
After depositing money at Amega, I was asked to verify my account. It required various documents which I duly submitted. But then these documents were rejected due to various reasons. So I had to submit many other documents but none were accepted. As a result, my account was not verified and I was not allowed to trade. Worst, I was not allowed to withdraw my funds because I need to verify my account first.
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Author: Huseyin | Date 2021-01-07
I believed all those positive reviews that I found online. I thought that Amega was a legitimate and reliable broker that is why I did not hesitate to open an account with them. I regret this decision so much because I feel like I have been too careless. I lost $500 on this fraud broker and now, I don't know if I can still trade again.
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Author of amega_dubious_reputation: Bruno | Date 2021-01-22
Same here, man. This is my first time to invest in the Forex market and I was only defrauded. I know that I was careless and I did not do enough research but there were a lot of great reviews about this company online. Now I understand that it is really hard to trust any company especially when money is involved.
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Author: Amaltom | Date 2020-12-28
I also received the offer of $222. I hate to admit it but I also left a positive review on the broker in the hope that I could get the bonus. Sadly, it was all a trick for the broker to have a pleasant image online. Not only did I deceive myself, I probably have also encourage someone else to trade with them with my fake positive review.
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Author: Thakorn | Date 2020-12-21
The verification process at Amega is just impossible. When I deposited my money, I already went through a verification process. I submitted all the necessary documents and it was approved. But then when I decided to withdraw my funds, the broker asked me to submit the documents again to verify my identity. This time, they kept rejecting the documents that I submitted. I already gave them all the valid documents but they still did not approve it. I think they just really don't want to release the money of their clients.
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Author: Srujana | Date 2020-12-14
Amega granted me a bonus when I deposited to them. It gave me a false impression that they are on their clients' side. This was nothing but a scheme to gain our trust and they did it effectively because when they encouraged me to deposit more funds, I easily agreed. In total, I lost $650 on this fraud broker.
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Author: Amadou | Date 2020-12-07
When I saw this broker, I immediately did not like it. Their website lacked so many information. It is as if they really have nothing to write about. Indeed, there was nothing to put in their website because this company is a fraud. They defrauded many people but thankfully, they have been exposed now and won't be able to deceive more people.
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Author: Tzuriel | Date 2020-12-02
No real broker would give out bonuses and make it available for withdrawal right away. Legitimate brokers offer bonuses but they come with terms and conditions and would only be available for trading at first then the profit would could be withdrawn. With this alone, it is already evident that AMEGA was trying to trick their clients! It's frustrating because they target novice traders whose desire is only to make some extra profit.
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