Exposing the facts: TU experts publish an AMP broker review

Looking for the right Forex broker may appear like a daunting task, but the wealth of information available to answer important questions is never ending.

Traders Union has updated its review of AMP Futures among 383 companies recently assessed and ranked by TU analysts for January 2024. In this article TU experts reveal the main features of AMP broker and conduct a comprehensive comparison.

AMP broker review by Traders Union

Traders Union has recently reviewed AMP Global, a Chicago-based Forex broker known as one of the highly regulated platforms in the Forex market. Licensed to operate by the Cyprus Securities and Exchange Commission (CySEC), a trusted tier-1 financial body,

AMP Global has been establishing a credible presence in key financial markets including North America, South America, and Europe since 2010. Its primary clientele is currently in the US (15.31%), Italy (14.37%), Russia (12.89%), Mexico (10.54%), and Colombia (7.97%). 

According TU’s AMP broker review, the broker is categorized as a moderate-leverage broker and observes a ratio of 1:100 for Forex. This level brings down the potential for a significant amount of losses, especially for novice traders who may find high leverage companies attractive even without real knowledge of what they are getting into.

Additionally, the broker currently offers an affiliate referral program which allows traders to earn passive income from recruiting new users into using AMP Global.

Pros and cons of using AMP broker

One important advantage in using the broker is its membership in the Investor Compensation Fund, acting as a safeguard for client funds in unforeseen circumstances or disputes.

However, analysts caution that the platform is better suited for experienced traders due to its higher minimum deposit which currently stands at $100. 

Here's a quick summary of AMP Global advantages and disadvantages:

Advantages

●      Investor Compensation Fund membership for client protection

●      Its license from tier-2 licensing body CySEC enhances credibility

●      Users are given flexibility to use various trading strategies

Disadvantages

●      High minimum deposit requirement of USD/EUR/GBP 100

●      Lack of zero spreads and micro (cent) accounts

●      Absence of trader contests or bonus opportunities

Traders Union has assigned it a TU Overall Score of 5.14 out of 10.00, ranking 87th among 383 assessed companies assessed during the period. While generally considered a reliable broker, potential users are advised to exercise due diligence for a smoother trading experience.

A look into evolve markets

Another Forex broker recently assessed by Traders Union is Evolve Markets. TU analysts have personally gone through the process of registering a new account with the platform to see details of its unique features, fee structures and leverage and spread ratios.

Established eight years ago, the company is a high-leverage platform with a leverage ratio of 1:1000 for Forex, 1:500 for commodities and indices, and 1:100 for cryptocurrency and stocks.

This setup enables traders to engage in larger bets relative to their initial margins, aiming for substantial profits within a short timeframe, while enjoying the benefits of the platform’s no minimum deposit requirement.

Evolve markets major issue: lack of regulatory support

Despite its apparent advantages, the broker received a low score of 1.45 out of 10.00 in regulation and safety.

This is due to the lack of approval from prominent licensing bodies – it holds only one license issued by the MWALI International Services Authority, a regulatory entity not recognized among the top-tier licensing bodies globally.

Traders Union has assigned Evolve Markets a TU Overall Score of 6.30 out of 10.00. It placed 68th among 383 evaluated companies during the period and those within this score range are considered to carry moderate risk.

AMP Futures vs. FXTRADING.com

Based on the finance portal’s matrix, brokers with scores between 5.0 to 6.99 are mid-level companies considered mostly reliable but experts remind traders to check them more carefully, especially in terms of licensing record, before opening an account.

An article about AMP Futures has been published by Newsbtc, drawing on the insights provided by Traders Union experts. According to the data from this article, both Evolve Markets and AMP Futures are moderate-risk companies requiring additional research before putting one’s full trust on them.

Traders Union recommends checking FXTRADING.com for those looking for a more trustworthy platform. The broker is licensed by the Australian Securities and Investment Commission (ASIC), a tier-2 regulatory body whose coveted endorsement speaks of a stellar track record.

Leverage on the platform can go as high as 1:500, depending on one’s risk appetite for the day, while minimum deposit is kept affordable at $50.

On the other hand, experts noted that finding the right broker will depend largely on one’s trading style and investment goals. A thorough research, regardless of a clean track record, is always advised.

To sum it up

In summary, AMP Global and Evolve Markets are both moderate risk Forex brokers with their own advantages and disadvantages. AMP Global is a more credible platform with CySEC license and Investor Compensation Fund membership, but it`s high minimum deposit may not be suitable for beginners.

On the other hand, Evolve Markets offers high leverage and no minimum deposit, but its lack of regulatory support from top-tier bodies raises concerns.

In general, the choice of broker depends on one’s trading style and risk appetite. Those looking for a more trustworthy option, FXTRADING.com which holds an ASIC license and has an affordable minimum deposit is a good platform to check out.

About the author

The article was written by Oleg Tkachenko, an economist-analyst and risk manager at Traders Union. He specialises in commodities, Forex, stocks, and non-standard investment markets.