AMB Prime Review: this is the name of a Forex broker that is located in Cyprus. Is ambprime.com a scam Forex broker or a legit one?
While going through the website, the broker claims to be based in the Cyprus. As we are well aware, all Forex brokers based in Cyprus are to hold licenses from the CySEC. This is mandatory for any legal broker there. We find that the company that owns the broker, AMB Prime Ltd, is registered with the Cyprus Securities and Exchange Commission.
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It offers traders one price feed for FX and CFDs as well as a demo account. Traders are also invited to contact the experts of the broker for Premium Liquidity Solutions.
It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
Some of the benefits to be gained from choosing the company mentioned on the page are listed below:
Liquidity to any platform via a customized API
MT4 bridge available for free
Customized pricing set-ups
Advanced technology solutions
Strong Capital Adequacy ratio
Segregated client funds held in BARCLAYS UK
Full post-trade transparency
Dedicated technical guidance and support
AMB Prime Trading Platform
It is mentioned that AMB Prime trading software is operated on a MetaTrader 4 platform available to all their clients.
Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.
These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.
Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.
Trading instruments offered to traders are: 60+ currency pairs, CFDs on stocks, indices and precious metals. We find that it does not offer crypto option to clients. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.
Maximum leverages can reach up to 1:30 and while this is may not seem generous, it reduces danger. High leverages can lead to huge loss of funds as well. Spreads are not mentioned which we find discouraging.
Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.
Deposit and Withdrawal methods on AMB Prime
The means of making payments and withdrawals are not stated also. We find that of e-Wallets are likely to be missing, which is discouraging.
This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.
Minimum deposit required is placed at $250 which is within the obtainable average of $100 – $250 among brokers. Withdrawal charges are not stated for this broker. Sometimes it is better to mention if they apply or not. We do not even find any terms and conditions; this is a shady thing. Traders are expected to sign up for something with unclear conditions.
This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.
We do not find trading bonus offers and this is a good sign. Many scam brokers use trading bonus to prevent traders from withdrawing when they want giving them unrealistic restrictions.
Is AMB Prime Licensed?
Yes. AMB Prime is a duly registered Forex and CFD broker under the Cyprus Securities and Exchange Commission (CySEC). It is encouraging to find this and traders are advised to always consider trading with registered brokers.
Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.
To get in touch with the broker or a customer care agent call: +357 25024000 or email email@example.com
Since this is a registered Forex broker, we advise clients to check if it meets their other requirements before investing with it. We do not find the missing spreads information encouraging as well as the payment methods. AMB Prime should fix these issues for better rating in the future.
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