The United Kingdom’s Financial Conduct Authority has issued a warning against Amelia Fx Trade in October 2023
If you are looking for a reliable and trustworthy forex broker, you might have come across Amelia Fx Trade. This is a relatively new online platform that claims to offer high-quality trading services and attractive features. But is Amelia Fx Trade a scam or a legit broker? In this review, we will examine the pros and cons of this broker and help you decide whether it is worth your time and money.
What is Amelia Fx Trade?
Amelia Fx Trade is an online forex broker that was launched in 2021. It is owned and operated by Amelia Global Ltd, a company registered in St. Vincent and the Grenadines. The broker claims to have a license from the Financial Services Authority (FSA) of St. Vincent and the Grenadines, but this is not a reputable regulatory body and does not provide much protection to traders.
Amelia Fx Trade offers over 200 trading instruments, including forex, commodities, indices, stocks, and cryptocurrencies. It also provides various trading platforms, such as MetaTrader 4, MetaTrader 5, WebTrader, and mobile apps. The broker claims to offer low spreads, fast execution, high leverage, and multiple account types.
What are the advantages of Amelia Fx Trade?
- A wide range of trading instruments to choose from
- Access to popular and user-friendly trading platforms
- Multiple payment methods, including credit cards, e-wallets, and cryptocurrencies
- A dedicated customer support team available 24/7 via phone, email, and live chat
- A free demo account to practice trading without risking real money
- Educational resources and market analysis to help traders improve their skills and knowledge
What are the disadvantages of Amelia Fx Trade?
- Lack of proper regulation and oversight from a reputable authority
- High minimum deposit requirement of $250
- High withdrawal fees and commissions
- Limited information about the company’s background and history
- Negative reviews and complaints from some customers online
- No negative balance protection or compensation scheme
Is Amelia Fx Trade a scam or a legit broker?
Based on our research and analysis, we cannot recommend Amelia Fx Trade as a reliable and trustworthy broker. There are too many red flags and risks involved in trading with this broker. The lack of proper regulation is a major concern, as it means that the broker is not accountable to any authority and can operate in an unethical and fraudulent manner. The high fees and commissions are also a deterrent, as they can eat into your profits and make it harder to withdraw your money. The negative feedback from some customers online also suggests that the broker has poor customer service and may not honor its promises and obligations.
Therefore, we advise you to avoid Amelia Fx Trade and look for a more reputable and regulated broker instead. There are many other brokers that offer better trading conditions, security, and transparency. You should always do your due diligence before choosing a broker and make sure that they have a valid license from a respected regulator, such as the FCA in the UK, CySEC in Cyprus, ASIC in Australia, or NFA in the US.
What to Do If You’ve Lost Money with Amelia Fx Trade?
If you have been scammed by Amelia Fx Trade or any other broker, you’ll want to seek assistance from cryptocointrace.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Cryptocointrace.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.