Absolute Global Markets (AGMarkets) Review

Absolute Global Markets or AGMarkets is a Swiss broker introduced in 2019 that offers CFD trading in currencies, commodities, indices, stocks, and metals. It does not operate under any jurisdiction and not much is known about its actual location, therefore traders must think twice before signing up with them.

Is Absolute Global Markets Legit?

Upon careful review, we discovered that AGMarkets is one of the many unreliable brokerages due to the following reasons:

Firstly, the website barely gives off any corporate information. While a physical address in New Zealand is provided on the site, the broker refused to disclose the actual company behind their activities.

Second, its terms and conditions stated that they are operating in accordance with the Bulgarian governing laws and not New Zealand. This implies that AGMarkets is not even following government policies at all.

In addition to those details, the broker has been included on the warning list of Switzerland’s financial regulator, the Swiss Financial Market Supervisory Authority (FINMA).

That simply means that AGMarkets doesn’t have a legit license from official financial authorities to hold its services and it only intends to scam its clients.

Should I Register with Absolute Global Markets?

AGMarkets offers six different account types: Easy Start, Trader, Pro Trader, Premium, Lux, and Royal. Naturally, prices for each account vary, with the first three options ranging from $250 to $5,000 dollars while the latter ranges from $20,000 to $100,000.

While there are huge leaps in prices, these aren’t exactly suspicious on the get-go. However, if users read each of them more thoroughly, they’ll find that some of the accounts offer the same benefits. In fact, the $100,000 account has the same features as the $5,000 option.

Furthermore, the platform claims to use the MetaTrader 4 (MT4) trading platform, but it turns out that the account is provided by a third party operating under Pentacle Group Ltd. which is another offshore broker operating under considered scam broker, Chrono FM.

There was also the lack of DDoS protection and SSL Encryption. Both concerning facts prove that the platform is highly unreliable. Such lack of security makes investors easily susceptible to hackers that can take over their accounts and steal their personal information.

Based on what we have discovered, we believe that traders are better off looking for another broker to entrust their hard-earned money with.

Absolute Global Markets: Deposit and Withdrawal

Looking into its withdrawal conditions, there are certain parts of AGMarkets’ policies that we’ve already seen in other unlicensed brokers, and that is the withdrawal fee of 10% if a trader doesn’t hit a turnover of 200.

That condition is just made for the purpose of keeping investors from withdrawing their money immediately. Legit brokers don’t impose such trading volume requirements, just so they can delay the withdrawal process.

There’s also the company email, where scammers can easily decline to answer. AGMarkets can quickly respond to traders asking to deposit and then discard another email requesting for a withdrawal.

Many traders have warned that once you’ve deposited any amount in the platform, it will be the last you will see of your money.

Additionally, keep in mind that account bonuses, such as AGMarkets’ 100% deposit bonus, are often a ruse done by unregulated brokers.

Bottom Line – Is Absolute Global Markets Legit or Scam?

Overall, AGMarkets is just another one of those unlicensed brokers whose only purpose is to take money from traders. A legit, professional brokerage firm should be able to practice transparency, consistency, and expert support in its own platform.

While AGMarkets can tell investors that they are a reliable broker, it’s their sketchy services and lack of regard for those they steal that is a sure tell sign that there are many platforms to choose that is especially not theirs.