RatingFX: independent rating of Forex brokers
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.
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
Emin Aliev, 20.12.18
Crazy Life, 20.12.2018
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
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
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.
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?
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.
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