On-line since: About the company: AmigaFX is a brand of eToro (Europe) Limited, which is a part of the eToro group. Company. Security of Funds Apart from eToro (Europe) Limited, the group comprises eToro (UK) Limited, which is authorized and regulated by the UK’s FCA, and eToro Group Limited regulated in Belize. Cyprus is becoming more and more popular place for forex and binary options brokers. CySEC applies certain rules and requirements to Cyprus Investment Firms and monitors their compliance. First of all, brokers must hold at least €730,000 in order to prove their good financial standing. Besides, they must regularly report to the Commission and keep customer funds in segregated accounts. As another guarantee for the clients’ funds security, all CySEC-regulated companies are members of the Investor Compensation Fund. It means that traders will get a compensation of up to 20,000 EUR if the company goes bankrupt. Trading conditions AmigaFX offers their clients a unified account type with a leverage of up to 1:400 and fixed spreads, as well as the possibility to trade micro lots. Besides, an Islamic account is available with a minimum deposit of $1,000. AmigaFX renders additional services such as rapid withdrawal and access to the online Forex course and trading signals. Minimum deposit Traders should invest $50 minimum to open an account with AmigaFX and it is considered to be a relatively low for the initial deposit. However, there are brokers who require even less - $1. Spreads and commissions The broker has only fixed spreads: 3 pips on EUR/USD, and this is more than average (2 pips). As most fixed-spread brokers, AmigaFX does not charge commission; it gets its remuneration through the spread. Leverage The maximum leverage offered by AmigaFX is 1:400, which is a quite high ratio. Nevertheless, most brokers ensure similar or even higher leverage levels, for example, up to 1:1000. Trading platforms The most popular MetaTrader 4 (MT4) trading platform is not available. Instead, AmigaFX has a range of their own platforms: eToto WebTrader, eToro OpenBool and eToro Mobile Trader. AmigaFX WebTrader is a web-based platform with a simple design. It offers a full set of easy-to-use trading instruments. As one of the advantages, the AmigaFX traders can use the social trading system. Traders publish information about their deals, and other users can view the trading history and copy new deals with just one click. Payment options AmigaFX supports the following payment options: bank cards, wire transfers, PayPal, Money Gram, Western Union, Skrill, Neteller and WebMoney. Advantages:
Disadvantages:
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I am disappointed to trade with the Amiga Fx. As always I found a poor execution, which delayed 30 to 40 sec. Also, I have seen that the pricing chart are different from live market quotes, probably 10 to 20 pips. So I got big slippage and can't place an order in my desired position. I think Amiga Fx didn't like our getting profit, as till now I had loss $715. even they cancelled my withdrawal request ten times. Really they were an unprofessional broker for me! Now I realize that I can't recover my losses and withdrawal any profit ever. So no more to trade with them.
AmigaFX is a good broker. I can say that was pleasantly surprised in the end of year with bonuses of this broker. Honestly speaking, I never thought that these bonuses are real. But this broker proved me that they are really credited $500 as a bonus and I can easily use them. I like honest people, and honest company!
I opened a standard account in this broker 2 months ago, in my opinion spreads and lot I have nothing to complain but I also hope the profit will increase because now I only get 5% in every trading. This broker had me blame myself for going into trading, they are so against their clients, they do not execute any take profits, minimum deposit too high they have a bad trading quality. When I deposited $500, and I earned profit $305. I withdrew $300, but this broker made me hard in withdrawing. Thus, I waited 3 days, but I still got no money in account. Therefore, I contacted to their support, and they always said that they were checking my request. It has been over 1 month, and I got nothing.
I have traded on the AmigaFX platform and. I say they are okay. As I didn't get any issue and I am doing Scalping trade. I have found a lot of tradings tools included in their platform. Till now I've withdrawn $200 profit through Skrill. So I am pleased with the service of AmigaFX.
I love the fact that trading at AmigaFX is very affordable and productive. They provide a stable platform with useful tools and the range of their trading instruments is wide. However, they still need to work on their customer relations. The support team are not very pleasant to speak with. Some of them sound so impatient when I have questions. That is a dismay.
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