AAG Markets Review – 5 things you should know about aagmarkets.com

AAG Markets Review – 5 things you should know about aagmarkets.com

Beware! AAG Markets is an offshore broker! Your investment may be at risk.


IG USForex.com

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


AAG Markets looks just like another forex broker trading in commodities, cryptocurrency, forex and indices. First impressions from the company website are that you’ll be ready to trade in second which is confirmed when it took us no time to open a live account.

AAG Markets Regulation and safety of funds

On the company’s website footer, we see that the address of AAG Markets is in St. Vincent and the Grenadines which is an offshore zone. The Financial Services Authority (FSA) in St. vincent and the Grenadines (SVG) has issued an official warning that they do not regulate forex brokers which may as well signify that this broker is scam.

A good rule of thumb is to be aware that forex brokers are not reliable to be trading with because they do not provide any guarantee for the safety of your funds. Should you choose to trade with one, you must be informed that if the broker goes bankrupt or shuts down the website, then your funds will be lost!

We suggest that you research and select for your trading deals a broker from one of the well-established jurisdictions around the world. A broker from EU or UK might be the best choice because in those jurisdictions all measures are taken to prevent scammer from sneaking in. For example, to be registered and regulated, forex brokers must have an initial capital of no less than 730,000 EUR  and they must contribute to a compensation scheme from which in case of bankruptcy clients will be compensated. The compensation for brokers regulated by FCA is up to 85,000 GBP per client and if the broker is regulated by CySEC, then the compensation is up to 20,000 EUR per client. Traders cannot ask for better conditions than this. And in addition to that, regulated brokers from these jurisdictions must also report their transactions on a daily basis to avoid shady deals. No scammer will offer you this type of guarantee for the safety of your funds, so choose wisely!

AAG Markets Trading software

MetaTrader 4 is the trading software offered by AAG Markets to its clients. On the screenshot below, you can get an idea about this platform. On the left, you see the menu for the currency pairs along with their bid/ask price and beneath is the navigator for the different trading tools and instruments. The middle of the screen is reserved for the display of the currency pairs charts. In the image below you see 4 charts containing different currency pairs, but their number (and design) can vary as per the needs of the trader. If we look at the currency pair in the top left chart, EUR/USD, we’ll find out that the spread for this currency is 2 pips which is within normal boundaries. If you look again in the account type information, you will see that if you choose to open the Raw Spread account, then you’ll pay service fee between $3.50 and $10 after the first 50 round turns. For the Standard and VIP account, there is no service fee.

However, if you look at the leverage info for the different account types, you’ll find out that it is rather high – 1:100 for all three accounts. High leverage, without any doubt, contains high risk for losing money in forex transactions given the fact that well over 50% of the traders lose funds in transactions. This fact may actually help you to stay away from brokers that offer such high leverage. For your information, regulated brokers in EU have restrictions on leverage and cannot exceed 1:30 and in the US, leverage cannot be over 1:50. These are measures to prevent traders from taking risks with their funds.

AAG Markets has made an excellent choice by offering the MetaTrader 4 trading platform which, along with MetaTrader 5, is number one choice for over 80% of the brokers. And this is not done by any chance, MT4 and MT5 offer a lot of advantages to its clients. For example, traders can benefit from the auto trading option or the VPS and the code base customs scripts. There is also the app market that makes a lot of difference, as well as the financial calendar. Traders can also use trading signals for a subscription fee. However, keep in mind that if the company is scam, an excellent trading platform is not enough to nullify the risk of losing money.

AAG Markets Deposit/Withdrawal methods and fees

If you choose to trade with AAG Markets, you’ll have a choice of 3 accounts – Raw Spread, starting at $1,000, Standard – $1,000 and VIP starting at $100,000 (screenshot below). We find the minimum initial deposit of $1,000 to be rather high. Legitimate and regulated brokers wouldn’t ask for such big initial deposit.



On the company’s website, it looks like you have a payment choice between VISA, MasterCard, Skrill and Neteller, but when you open an live account and want to deposit money, you find out that the available payment options are a variety of cryptocurrencies, wire transfer and credit card. Skrill and Neteller are no longer payment options. In the context of the payment methods, we want to draw your attention that your choice may have implications later on, should you decide to close your account with this company, so please ready carefully the last section of this review.

Withdrawal seems like a pretty straightforward procedure and if a request is made before 2 PM, it is processed the same day. There is no mention what the minimum withdrawal amount is.

In the account type information (screenshot above), you’ll also see that for the Standard and VIP accounts, the company provides bonuses but in the Terms and Conditions document, it it not specified what the conditions for receiving a bonus are. Anyway, you should be very cautious if you are offered a bonus. First of all, bonuses are not client’s funds but company’s and meeting the usually heavy requirements that are attached to them may prove to be very daunting and difficult to fulfil undertaking. Legitimate and regulated brokers do not offer bonuses to their clients.

How does scam work?

Scam works in different ways. It could be either that you receive an unsolicited telephone call or you see one of these flashy ads on the Internet or the social media promising you a quick and easy profit. Scammers will promise you the sky and the earth until you give way to temptation and deposit money. Once you give them money you get caught in the scammers’ mouse trap and the cheese in the shape of a big fat money fall is gone! It may take some time before you realise that you are being scammed. Scammers are smooth talkers and they are masters of deception. They will give you some excuses as to why the big profit hasn’t come yet and will try to lure you to make even a bigger investment because according to them, the more you invest, the more you profit. After you have been waiting for awhile and you finally come to your senses, you realise that you are being scammed. All you want now is to get your money back and get out of there. However, the scammers won’t make it easy for you! They will try to delay you so that you miss the deadline for applying for chargeback.

What to do if scammed?

There are a few things that you must do immediately – file for chargeback if you have paid using a VISA or MasterCard. Those two payment providers allow you 540 days time frame within which you may file for chargeback.
However, the chances are grim if you have used bank transfer or Bitcoin as a payment method. There is no chance you’ll be able to recover your money.
In such desperate situation, some so-called ‘recovery agents’ may approach you with offers to recover your money for a fee. Be cautious as you may be dealing with another type of scammers. Always check the information about the recovery agency – make sure it is legitimate and transparent in the public eye. Also, some scammers publish personal comments after our review about how they have been scammed and how they found a recovery agent who helped them get their money back. Do not trust such comments and do not use the published contact info in them as it will lead you to another scammer!
And lastly, a reminder to cancel your credit card if you have given your CVV code to the scammers and erase any software from you PC that gives scammer access to your personal data.

Rich Snippet Data
Review Date
Reviewed Broker
AAG Markets
Broker Rating

Top Forex Brokers

Broker Country Rating Min. Deposit Website
US 5/5 $50 Click for a special offerWebsite
USA 5/5 $250 Click for a special offerWebsite
UK, Cyprus, Belize 4.94/5 $5 Click for a special offerWebsite
Australia 4.93/5 $100 Click for a special offerWebsite
UK, Australia 4.85/5 $50 Click for a special offerWebsite
Cyprus, SVG 4.8/5 $100 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like

General Investment Partners Review – 5 things you should know about generalinvestment-partners.com

General Investment Partners are a forex broker company