Important Information About AGEA Forex Broker
Located in Montegegro, AGEA, formerly known as Marketiva, operates on global markets and offers online trading services on Forex, Indices, Commodities, CFDs. Established in 2005, the broker is not regulated by any recognized authorities but claims to comply with the requirements of Markets in Financial Instruments directive (MiFID).
Registration and Account Types
New account with AGEA can be opened by filling out the registration form. Once approved, you can log into your Account via the broker’s website. You are not permitted to open multiple accounts, however your master account can contain several subsidiary accounts with different platforms available.
Islamic accounts (interest free or swap free accounts) are available for traders of Islamic religion to trade without extra charge in compliance with Islamic religious believes.
The account transaction history can be viewed in Account Center under Billing Options. Once you make the first deposit, all the transactions will be recorded in the billing table for your future reference.
Upon the registration, you select a user template, which offers a certain subscription package. The package you select is copied to your account with the applicable charges involved. You can change/edit and cancel your subscriptions at the Account Center section. The payment for the subscription services are non-refundable and are renewed automatically unless you manually cancel it or there are no available funds in your account.
Newbies are welcome to practice with demo account wired with $10,000 virtual cash. All the features of Standard Account are presented by default. Demo account is available only for 30 days.
Standard account has a minimum of $100 balance limit and the trade size ranges from 1,000 to 2,000,000.
Account is suitable for small amount trading in cents with USD 10 - 5,000 balance limit. Leverage is up to 1:500 with trading size ranging 1,000 - 500,000.
Commissions of 2 USD are charged for Forex and $10 for Commodity for 100,000 notional value. All orders are directly routed to our liquidity providers (Straight-Through-Processing). The leverage is up to 100:1.
There are no restrictions and requirements on deposits and AGEA allows new traders to begin trading with as little as $1, without any complicated registration procedures.
During the account opening process AGEA asks you to select a user template. Each template listed contains certain subscription package in itself. When you select a template and create your new account the subscriptions contained in the template will be copied to your new account.
The broker has very high withdrawal fees, which is quite unusual compared to other forex brokers today:
Wire transfer has ridiculous $14 charge fee for every transaction.
Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money withdrawals have one-time fee of $7.
The broker should consider updating their payment method list and especially removing Liberty Reserve from the available payment methods, since Liberty Reserve has long been shut down due to fraud and arrest of its founder (Mr. Budovsky). It is alarming that while broker claims to provide “outstanding and save trading services”, it doesn’t remove the payment method, which has been proclaimed to be among cybercriminals.
AGEA reviews several of its trading platforms with its services, features and limitations.
This is an easy-to-use trading platform suitable for new traders. There is a multi-channel chat installed into the interface where traders can discuss the market conditions and other issues in real –time.
Streamster has live and virtual trading options, which allows the traders to test and analyze the market before they make a real move.
All the necessary account features, such as administrative tasks, fund transfers, deposits and withdrawals can be performed directly through the platform.
Steamster is available in Desktop, Web and Mobile versions.
AGEA offers most advanced, flexible and well-acknowledged trading platform MetaTrader 4, most suitable for traders with at least the basic experience. The platform brings all the necessary tools and resources for market analysis and automated trading with Expert Advisors.
With built-in indicators and chart templates traders can determine trends, define shapes and identify entry and exit points. For advanced traders, there is a programming language MQL4, which can be used to design and create your own expert advisors and indicators via personal algorithmic scripts.
Minimum deposit requirement is just $1. The account currencies include: USD, EUR, JPY, GBP, CHF, CAD, AUD. Minimum trade size is 0.01 lot. Spreads start as low as 2 pips on major currency pairs. Leverage ranges from 1:100 to 1:500 depending on the account type.
There are 17 currency pairs to choose from with 5% margin requirement.
The Broker Website is available in 7 languages including English, Indonesian, Malay, Spanish, Portuguese, Russian and Chinese.
AGEA broker doesn’t not accent US traders.
Promotions and Bonuses
Right now all the new accounts receive non-deposit bonus of $5. This is unique offer on the market, since none of the brokers today offer a free treat.
During AGEA review, we managed to find the contact number of the broker, but didn’t have a chance to test the quality of the broker’s representatives. There is no email address for some reason, and you can only get in touch with the broker via online chat or online fill-in form.