In this AG markets review, we’ll give you the truth about this site. You’ll then be able to make an informed decision.
Here’s the thing about scammers:
They are careful to hide the truth about their true intentions behind eye-catching names and exciting incentives.
Once they have the money out of your pockets, they will use tricks to ensure that you lose it and frustrate your efforts to get it back. Brokers such as Go365 and ITRADER continually use such shady tactics to notoriously scam traders.
If you have been a victim of this maliciousness, don’t fret it. You can schedule a free consultation right now and possibly get your money back.
There are many evil-intentioned companies out there with online brokers taking the lead.
A candid AG Markets review
Here, we’re not just pouring out aimless emotions. We’re tabling cold hard facts.
We will read between the lines of their terms and policies and identify any loopholes. We will give a thorough and unbiased look at their promotions and assess their regulation. And, of course, we’ll have a look at what other customers are saying about the company.
Let’s get started.
The AG Markets Façade that is Likely to Mislead You
One glance at the AG Markets website, and you will get the impression of a legit trading platform that promises to be your ticket to financial freedom.
But if you dig deeper, you will notice that there is nothing legit about the company.
Here is an overview:
AG Markets is under Advanced Global Markets Inc. It is registered with the Financial Service Providers Register (FSPR) No. 4674959. They also operate under IBC No. 21668 in Saint Vincent and the Grenadines, which allows them to trade internationally.
The company is located in New Zealand.
They offer Forex trading with over 50 currency pairs, metal trading, cryptocurrencies, CFD trading, and energy trading. The company provides an MT4 trading platform.
There are six account types – basic account, standard account, trading account, AGM – PRO account, premium account, and platinum account. You can also open a $50,000 demo account to test your skills and learn.
They provide an educational center where clients can learn about trading and tools such as an economic calendar and indicators. But the resources in this area are quite limited.
Withdrawal of funds takes five to six days, and the company does not charge any commission.
They have various options through which you can contact the support staff. You can make a call, initiate a chat, or send an email.
Is AG Markets Properly Regulated?
The answer is a resounding NO.
AG Markets cannot offer its services in the US and New Zealand. This is strange since it is located in New Zealand. You have to be regulated by the Financial Markets Authority (FMA) to operate a trading platform in the country. And the company has failed to meet this requirement.
They do not shy from mentioning this appalling fact on the website.
If a company cannot serve the clients in the country where they are based, who else can they serve? Are they legit?
Like we mentioned, the IBC and FSPR registrations are only a mask to hide the scam that is AG Markets. Without proper regulation, there is no government authority where an aggrieved customer can make a complaint.
The Red Flags
Besides the apparent lack of proper regulation, there a few other things we will look at in this AG Markets review that will open your eyes.
1) An Enticing (But Misleading) Bonus
AG Markets provides a bonus to all new depositors. The size of the bonus depends on the size of your deposit. Here’s a breakdown:
- 10% for investing $250 to $499
- 20% for $500 to $1,499
- 30% for $1,500 to $4,999
- A personalized bonus for any deposit above $5,000.
We call this an empty enticement, as we will see in the withdrawal policy captured below. This money belongs to the Advanced Global Markets broker and can be canceled at any time.
In case you fall into the ‘bonus’ trap and sign up, your money will be non-refundable after 24 hours. This means that if you later realize the company is a fraud, it will be too late, and you stand to lose your hard-earned money.
The bonus is intended to lure unsuspecting individuals into giving up their cash.
2) Poor Reviews
Before committing your money to any company, you should always look at the experience of other customers.
If more people are complaining about the company than those calling it legit, keep off.
And this is the case with AG Markets.
A look at AG Markets review on Trustpilot and Forex Peace Army makes it clear that this is a scam.
3) Too Many Errors
We said we would be thorough in this AG Markets review. So, we cannot overlook the numerous grammatical errors on the website.
For a trading company that deals internationally, you would expect a well-polished website. But sadly, this is not the case with AG Markets.
From the news sector to the terms and conditions and policy statements, the errors are mind-boggling. To think that the company has been in operation since 2013 confirms that this is a scam. If they were operating a legit trading platform, these errors should be corrected by now.
A legitimate company that is concerned about their customers’ experience will invest money in a world-class website. They will ensure that their website represents the company’s core values.
Such a brand will work hard to earn the trust of their clients because they are confident about their trustworthiness. And AG Markets does not fall in this category of companies.
AG Markets Review: Final Verdict
We will not sugarcoat it; this candid review proves that AG Markets is a scam.
The lack of proper regulation is enough reason to stay away from these brokers. But there is more. Negative reviews from reliable review websites and numerous errors on the website are major red flags.
The juicy bonus is tactfully placed to encourage you to sign up, and once you realize it’s a scam, you can no longer withdraw it.
Before signing up on any trading platform, carry out some due diligence. Thoroughly read through:
- The terms and conditions
- The withdrawal and deposit policy
- The risk policy
- Any other legal document in the site
If you have already lost your money, you can get a free consultation from experts in the field and get guidance on ways to recover your money.