AMPTrading. Can you use these brokers?
It is important to make sure that you are using the right brokers when you are trading. The thing is that there are so many brokers that aren’t legit and that are just online scams that you should be careful of. This is why you should make sure that you are using the right brokers.
AMPTrading is one of the brokers that are available online. The thing that you might want to know is if they are legit or not. Our review will show that there are many irregularities about them, that are making them not recommended at all. And, that we don’t recommend them for trading.
AMPTrading is situated in London. They are known as forex and CFD brokers with a couple of cryptocurrencies that you can trade.
They do offer a legit address, a couple of telephone numbers and an email address. However, this is the only things that they are offering. There is no other information about them or the founders of the company. Making us think that this might not be a legit company. Something that was strange to use is the fact that their name is really close to the highly recommended brokers AMP Global Group. In fact, there is no connection and the name is obviously misleading. This is something that you should be careful of if you want to make sure that you are using the right broker and not AMPTrading.
Are they regulated and registered?
Something that you should ask before you can make use of any broker is if they are registered and regulated. This is the most important part of selecting a broker for trading. AMPTrading isn’t registered or regulated. This means that they are really not recommended to be used.
When a company isn’t regulated, there is no one that is making sure that the brokers are staying legal in their terms and conditions and with trading in general. And, this is why AMPTrading isn’t recommended by us. They aren’t regulated or even registered.
Something that traders might find great is the account options that you have with AMPTrading. They offer four different accounts with different features and benefits.
It is important to make sure that you are choosing the right account. This is why it is recommended that you research each account before you register to an account. Something that you should look at is the minimum required a deposit and other fees that you should pay. Comparing it to other brokers, this is quite high fees and deposits that you should pay.
The platform that they are using
This is important to know that they claim to use MT5 as their platform. This is a great platform and the newer version from MT4. However, this is only claims. There is no proof that they are really using MT5 as their platform.
They don’t offer a demo account, so we can’t test the platform to see if they are really offering this to their traders. But, according to research, their name doesn’t come up with the MT5 website for brokers that are using MT5 as their platform.
Regulation claims to be dodgy
When you are looking at their regulation and rules about trading with them, you will find that it is not standard. In fact, this is different and a lot dodgier than with other brokers. This means that you should be really careful when you are interpreting the regulations.
The regulations have different meanings and this can cause trouble for you when you want to withdraw your money from the brokers.
High deposit and other high fees
It is important to know that they are asking really high deposit before you can start trading. And, with the other fees that you need to pay before you can start trading, this is a huge amount of money to spend on brokers that you can’t really trust. And, you will not know if you can get your money withdrawn back to you.
There are other, more trustworthy brokers that you can use that doesn’t require these high fees and high required deposit. A place where you know your money is going to be safe. And, with AMPTrading, you can know that your money isn’t going to be safe.
The FCA has official warnings out for AMPTrading. This is because of their misleading name. They have a similar name as a company that offers legit and high-quality trading. If traders don’t know which one to use, they might use the wrong, unregulated one. This can cause the trader to lose money.
For those that don’t know what the FCA is, this is the Financial Conduct Authority. And, they don’t recommend AMPTrading to be used. And, they warn traders to not get confused with the name from this broker and the legit broker. Regulators aren’t recommending them as brokers as well. This is because they aren’t regulated or registered.
If you think that you can use AMPTrading without any problems, then you should think again. There are many reasons why you should not make use of AMPTrading. It is better to search for more recommended and trustworthy brokers. This is one of those brokers that you should stay away from.