Amenda Markets is a pure DMA broker that features on its trading platform forex pairs and precious metals. Amenda Markets is a trading name of Amenda Markets AS IBS, a corporation that is regulated and overseen by the FCMC in Latvia. The broker charges on a popular currency pair EUR/USD a minimum spread of 0.2 pips*. Trading with real funds is possible with a minimum deposit of €200 (or equivalent in other currency). The Amenda Markets website is available in English and Latvian.
What do we cover in our Amenda Markets Review?
|General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about the broker
- Website address: https://amendafx.com/
- Leverage: up to 1:30
- Instruments: Forex, precious metals
- Minimum deposit: € 200 (account base currency USD, EUR, GBP, JPY)
- Demo account: Yes, free of charge
- Methods of deposit and withdrawal: Wire Transfer
Amenda Markets Trading Platform
For FX and CFD trading, Amenda Markets offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. The trading platform gives access to 48 trading instruments.
Amenda Markets Fees (spreads)
As any other CFD broker, Amenda Markets charges a spread fee. For the most current spread charges, please visit the Amenda Markets official website. Here is a spread comparison table that contrasts Amenda Markets spreads with popular industry competitors.
*Spreads recorded on 20.03.2020 at 12:16 GMT. Data about spreads were taken from the website of the broker (https://amendafx.com/spreads/). **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.
Amenda Markets regulation
Amenda Markets AS IBS is authorized and regulated by the FCMC in Latvia, license No. 06.06.11.506/420.
The FCMC regulation gives Amenda Markets the right to provide cross-border services to other members of the European Economic Area.
Advantages and disadvantages
Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce Amenda Markets.
Amenda Markets Pros
- Hedging and scalping supported
- Competitive fees
- In some cases, negative spreads as low as minus 1,5p
- As of 20.03.2019, only 54% retail customer lose money with Amenda Markets
Amenda Markets Cons
- Deposits and withdrawals are possible only via bank transfer
To sum up the Amenda Markets Review
Amenda Markets adheres to strict regulatory guidelines of the FCMC. The broker offers very competitive spreads, which can be according to the broker’s website as low as negative -1,5. The company features a popular trading platform Mt4, on which it is possible to trade over 40 assets. The only bigger disadvantage I see at Amenda Markets is that they support only bank transfers, apart from that, Amenda Markets is definitely a forex broker to keep an eye on.
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