After their license was withdrawn, AGM Markets was not unregulated by two regulatory institutions. Both CONSOB and the CySEC formally withdrew their permits from the platform. This was after the platform failed to meet its obligations arising from investors’ claims. The platform blocked withdrawals and will soon file for bankruptcy. So again, we see a platform that couldn’t offer transparency in terms of investment. Here’s a closer look at AGM MARKETS REVIEW.
The Italian trading platform was once of the fastest-growing trading platforms a while back. But unfortunately, it seems greed got the better of AGM Markets, and started stealing from clients. For example, once you deposit funds, the funds would go to a private bank account.
Although the funds would reflect on your trading platform, no withdrawal was possible. This is because the platform seemed to have created dummy accounts for new clients. And these clients have to report their experience to regulators.
CONSOB and CySEC were quick to react after investigating the platform. Unfortunately, it was found wanting, and their license was formally withdrawn in early February. We don’t understand why the platform is still accepting new members.
Such platforms shouldn’t be online. We hope that authorities will move quickly and remove it from all search engines. More and more investors are losing funds thinking the platform is legit. We have to put an end to it.
NOTE: When investing in the markets, it’s best to go for volatile markets. Investors are winning big each day with crypto investments, thanks to volatility. That’s why we must insist on investing in credible assets such as coin staking and Masternoding.
AGM Markets is the last platform you would want to invest your funds. Instead, the platform plans to take all your funds. We suspect it’s already planning its exit with a huge deposit bonus. The platform will devise ways to entice more deposits before shutting down.
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Experts recommend you research a platform first before signing up. That includes checking with regulators to confirm whether the store is complaint. You also need to know the experiences of other users before signing up.
There are four investment plans available on the AGM Market trading platform. These include Micro, Silver, Gold, and Platinum. Each of these plans offers investors a different way of investing and trading.
Let’s take a closer look at each of these investment plans;
There’s an undisclosed welcome bonus available with the Micro account. After opening an account, depending on the balance, the platform might offer a 10 percent discount. Others have received less than that.
You have to deposit €5,000 to get started with the silver account. However, there’s a welcome bonus of 30 percent with this account. Members also get a trading commission of 20 percent with no limit on trading assets.
The gold account holder has a minimum acceptable deposit of €25,000. Members enjoy a welcome bonus of 20 percent and a commission of 30 percent. In addition, the platform promises €50,000 in tax refunds.
It’s the most exclusive account, with investors having to deposit €50,000. The account mainly targets institutional investors. There’s a welcome bonus of 20 percent and commissions of up to 50 percent. In addition, members get a tax refund of €100,000.
One thing’s for sure, and these accounts tell us little about the account features. So, for example, we don’t know the leverage set for trading assets or the spreads. And this poses a problem, especially so when investing with crypto assets.
Regarding trading assets such as forex, regulators are clear about the acceptable leverage. For example, in Europe, the maximum acceptable leverage is 1:100. Regulators in the United States offer retail traders maximum leverage of 1:50.
More often than not, we see platforms exceeding this limit. An excellent case is agmarkets.net which doesn’t comply with regulations. We see a platform exceeding leverage to 1:500 for forex trading assets.
Most naïve investors will quickly sign up thanks to the high bonus amounts. We know for sure that these are traps set for such investors. Even regulators are against platforms that offer bonuses, and for a good reason.
These platforms will hold you hostage, when you attempt to withdraw funds. The platform will insist that you pay in full the offered bonus. And that means the bonus is not a bonus but a platform loan.
The platform should distinguish itself as a banking institution of bonuses are loans. These are the features that make regulators fight such platforms. Even the high commissions promised won’t come in handy.
There are four classes of trading instruments available on the platform. These include crypto, forex, indices, and stocks. In addition, the platform offers several crypto assets paired against leading currencies such as BTC/USD and ETH/USD.
Forex pairs are the center of attraction on the platform. There are over ten major currency pairs to choose from. These include EUR, GBP, JPY, and USD. However, forex trading is the main activity on the platform.
Indices available on the platform include NASDAQ 1OO and S&P 500. These indices provide day traders with a platform to earn profit from trading global commodities. Traders also impact the prices of products on a worldwide scale.
Stock trading has been around for decades. The platform offers a bunch of shares from leading companies. These include shares from global entities such as Google, Tesla, Volkswagen, etc. It’s a perfect way to trade and earn stable profit margins.
Maxigrid Limited is the parent company owning AGM Markets and Dualix. Both of these platforms don’t have a formal trading license. The owners of the two platforms have gone underground, and regulators are looking for them.
We saw a platform that failed to list the names of people responsible for funds. And that makes it nearly impossible to recover funds from such stores. Only regulators can help by getting a court order restricting any movement of funds from owners.
You won’t get to find any positive comments from an independent source regarding the platform. If you do, it’s probably when the store has a reputation when it has a valid trading license.
And this goes to show that the platform’s license plays a vital role in furnishing members with credibility. Make sure to stay away from the platform or risk losing everything. You need to stay away from the store or avoid losses.
AGM Markets doesn’t have a valid trading license. The platform’s license was revoked by CONSOB and CySEC, as indicated above. Unfortunately, your funds are far from safe as no regulator will come to your aid.
Make sure to check with regulators and confirm whether a store is compliant. Some worthy regulators worth mentioning include ASIC, BaFIN, CFTC, FCA, NFA, and the SEC. These regulators work to ensure everyone follows set regulations.
Don’t expect any contact or support from the store, especially now they don’t have a license. Despite having a live chat agent available, the response is slow. Emails also don’t get any answers, and the platform doesn’t have a phone number members can call.
Please stay away from AGM Markets as it doesn’t have a license.
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