AMIGAFX

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Advantages:

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Disadvantages:

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About company:

AmigaFX is a brand of eToro (Europe) Limited, part of the eToro group.

Company. Fund security

In addition to eToro (Europe) Limited, the group includes eToro (UK) Limited, which is authorized and regulated by the UK FCA, and eToro Group Limited, which is regulated in Belize.

Cyprus is becoming an increasingly popular destination for Forex brokers and binary options brokers. CySEC applies and enforces certain rules and requirements for Cypriot investment firms. First of all, brokers must have at least 730,000 euros in order to prove their sound financial position. In addition, they must regularly report to the commission and keep customer funds in segregated accounts.

In addition, another guarantee of the safety of funds is the fact that companies regulated by CySEC are members of the Investor Compensation Fund. This means that in the event of a broker's bankruptcy, traders will receive compensation in the amount of up to 20,000 euros.

Trading conditions

AmigaFX offers its clients a single account type with up to 1: 400 leverage and fixed spreads, as well as the ability to trade micro-lots.

In addition, this broker has an Islamic account available with a minimum deposit of $ 1000.

AmigaFX offers additional services such as expedited withdrawals, access to electronic Forex rates and trading signals.

Minimum initial deposit

To open an account with AmigaFX, traders must invest a minimum of $ 50, this is considered a small amount for the initial deposit. However, there are brokers who offer trading from $ 1.

Spreads and commissions

This broker only offers fixed spreads: 3 pips for the EUR / USD pair, which is above average (2 pips). Like most brokers with fixed spreads, AmigaFX does not charge a commission, but makes money on the spread.

Leverage

The maximum leverage level offered by AmigaFX is 1: 400, which is considered a high value. However, many brokers offer similar or even higher leverage levels, for example up to 1: 1000.

Trading platforms

The most popular trading platform MetaTrader 4 (MT4) is not available from this broker. Instead, AmigaFX offers its clients a set of proprietary platforms: eToro WebTrader, eToro OpenBook and eToro Mobile Trader.

AmigaFX WebTrader is a web platform with a simple design. It offers a complete set of easy-to-use trading tools.

As one of the benefits, AmigaFX traders can benefit from the social trading system. Traders publish their trades and other users can view trade history and copy new trades with a single click.

Ways of payment

AmigaFX offers the following payment methods: credit / debit cards, wire transfers, PayPal, Monay Gram, Western Union Skrill, Neteller and WebMoney.

Pros:

regulated broker; social trade; fixed spreads.

Minuses:

high spreads; ECN trading is not available.

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Can the broker AMIGAFX be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. AMIGAFX received a rating of 1 out of 5 on our resource.