Amex Financials – Can You Trust Them?

| Publish date: 05/18/2020 (Last updated: May 18, 2020 06:17 AM)
Share

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

Amex Financials - DO NOT TRADE WITH THIS PROVIDER
2.6/10
$100
Minimum Deposit
X

updated 2020

Amex Financials offers you the following account types:

  • Starter Plan: The minimum deposit you are required to make is $500. You also get a 5% deposit bonus and a 10% referral bonus.
  • Basic Plan: The minimum deposit for this account is $2,000. You are awarded a 7.5% deposit bonus and an 11.5% referral bonus.
  • Pro Plan: The minimum deposit is $5,000. You also get a 10% deposit bonus and a 12.5% referral bonus.
  • Premium Plan: You need to deposit at least $10,000 to trade on this account. You get a 12.5% deposit bonus and a 15% referral bonus.
  • Executive Plan: The minimum deposit for this account is $25,000. You also get a 20% deposit bonus and a 20% referral bonus.

There are no trading conditions mentioned on this broker’s website, so we cannot provide you this information.

Try these regulated brokers if you want to start trading cryptocurrencies

Plus500 Review - Regulated broker
Plus500CY Ltdauthorized & regulated by CySEC

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

 

Website URL: https://amex-financials.com

Founded: 2019

Regulations: No Regulation

Languages: English, Google Translate languages

Deposit Methods: Cryptocurrencies, Western Union, MasterCard, Visa, Skrill, Neteller, Bank Wire, PerfectMoney

Minimum Deposit: $500

Free Demo Account: No Available

Number of Assets: Unknown

Types of Assets: Binary Options and Cryptocurrencies

Trading Accounts and Conditions

Amex Financials offers you the following account types:

  • Starter Plan: The minimum deposit you are required to make is $500. You also get a 5% deposit bonus and a 10% referral bonus.
  • Basic Plan: The minimum deposit for this account is $2,000. You are awarded a 7.5% deposit bonus and an 11.5% referral bonus.
  • Pro Plan: The minimum deposit is $5,000. You also get a 10% deposit bonus and a 12.5% referral bonus.
  • Premium Plan: You need to deposit at least $10,000 to trade on this account. You get a 12.5% deposit bonus and a 15% referral bonus.
  • Executive Plan: The minimum deposit for this account is $25,000. You also get a 20% deposit bonus and a 20% referral bonus.

There are no trading conditions mentioned on this broker’s website, so we cannot provide you this information.

Amex Financials – Advantages

There are no advantages to dealing with this broker, so we have left this part of our review blank.

Amex Financials – Disadvantages

Here is the long list of serious disadvantages for this broker:

  • Anonymous Broker

You will be dealing with an anonymous broker if your contract with Amex Financials. This broker has not provided any details about the company that owns and operates them. All we have are some post office box addresses in North Carolina, US, and Wales, UK, and two phones numbers – one for the US and for the UK.

Interestingly, if you Google these addresses, they are exactly the same as those mentioned on another broker’s website – called ElevatedFXTrade. The layout for both brokers’ website is also exactly the same.

This indicates that Amex Financials belongs to a scammer that has created numerous trading websites that entrap unwary traders.

Plus500
$100
Minimum Deposit

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

 

AvaTrade
$100
Minimum Deposit

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

 

  • Unregulated Broker

Considering the fact that this broker claims to based in the US and the UK, Amex Financials would need to be regulated by the UK’s Financial Conduct Authority and be registered as a futures commission merchant (FCM) and retail foreign exchange dealer (RFED) on the US’s Commodity Futures Trading Commission (CFTC).

Furthermore, to be able to offer financial services in the US, a broker also needs to be a member of the National Futures Association (NFA).

We checked the NFA’s as well as the FCA’s online registers to see if this broker was registered by them. Of course, we did not find this broker listed on either regulator’s registries.

This basically means that Amex Financials is offering its services illegally on both sides of the pond.

  • Guaranteed Profits in 30 Seconds

This promise is by far one of the most ridiculous we have ever heard of. Amex Financials promises its customers that they will be earning 86% in 30 seconds of you having made a deposit!

The market reality is that most traders lose their money on the market. In fact, a large number lose their entire deposits while trading. And regulated brokers are obliged by law to reveal the percentage of their clients who have lose their money trading on their platforms. This percentage varies between 75% and 85%.

So, this promise by Amex Financials is nothing but a pipe dream to lure traders into giving them their money.

  • Trading Bonuses

Amex Financials offers its customers trading bonuses, which is yet another indication of a scam. The problem with such promotion is that they come with unfair conditions – you are not allowed to withdraw your funds unless you meet an unattainable trading volume target.

  • High Minimum Deposit Requirement

Amex Financials requires you to make a minimum deposit of $500 to start trading on their platform. This is more than 2 times the market average, which ranges from $100 to $250. And there are some well-reputed brokers who only need you to make a minimum deposit of as little as $5 to start trading with them.

  • Binary Options Broker

Amex Financials claims to offer trading in forex and other asset classes, however, when you examine their trading structure more closely, they are actually binary options brokers.

Binary options have been banned in most regulated markets due to the extremely high risk they carry. In Europe, the ESMA (European Securities and Markets Authority) banned binary options trading in 2018. And in the US, only CFTC regulated exchanges are allowed to offer binary trading options.

So, basically, Amex Financials is not just offering illegal financial services, even its product offerings are illegal!

  • No Demo Account, Web-Based Trading Platform

Amex Financials states that it offers its clients a safe web-based trading platform, however, we weren’t able to assess it for ourselves since they do not offer a demo account.

We also tried registering for an account to see what their platform looked like, but we were unsuccessful, so we cannot give any feedback about this broker’s trading platform.

This itself is another red flag. Most brokers offer you the MetaTrader 4 platform, or even the latest version, the MetaTrader 5 platform. Both these platforms have excellent features such as charting options, technical indicators and even automatic trading robots.

Conclusion 

Amex Financials is not a broker to be trusted; it has all the features that mark it as a scammer. It is operating illegally in two different jurisdictions, it shares its corporate with another website (which also appears to be a scammer), offers binary trading options, trading bonuses and makes ridiculous promises about unrealistic profits.

We recommend that you steer clear of this broker.

Amex Financials

2.6

User Experience

3.2/10

Payment Options

2.5/10

Security

2.5/10

Support

2.2/10

Reputation

2.5/10

Pros

  • None

Cons

  • Anonymous Broker
  • Unregulated Broker
  • Guaranteed Profits in 30 Seconds
  • High Minimum Deposit Requirement
  • No Demo Account, Web-based Trading Platform

Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:

Plus500
$100
Minimum Deposit

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

 

AvaTrade
$100
Minimum Deposit

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

eToro
$200
Minimum Deposit

eToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Share

Related Posts

SmartHubFX Review – Is this Broker Safe?
Website URL: https://www.smarthubfx.com/ Founded: 2017 Regulations: Yes Languages: English…
Kyptobot – Can You Trust Them?
Website URL: https://kryptobot.online/ Founded: 2013 – 2019 Regulations: Unregulated…
XBTElite – Can You Trust Them?
Website URL: https://xbtelite.com Founded: 2020 Regulations: Unregulated Languages: English,…

Leave a Comment