AmazingTick Review: Is This Broker Safe For Your Funds?
AmazingTick company has been operating since 2022 under the ownership of Rupex Limited. With headquarters in Canada, you expect this broker to be fully transparent and legitimate.
Yet, there are some things that don’t make sense. In any case, this AmazingTick review presents you with the main reasons to look for another broker. But also with bonus tips about tools like AI Analysis Bot that you could use to improve your results.
|Company Type||Active trading firm|
|Legal name||Rupex Limited|
|Financial Authorities Warnings||No official warnings|
|Contacts||Web form, e-mail|
|If a withdrawal is possible||Yes|
|Fees||From 1.6 pips spreads; a $5 commission|
|If Active on Social Media:||No|
|Activity areas||Japan, Cyprus, Singapore, China|
|Main threats||Lack of transparency|
|Main perks||MT4 platform, Canadian regulation|
Legal Information: Is AmazingTick Brokerage Legit?
As mentioned, the ownership of this brand belongs to Rupex Limited. Indeed, this company is listed in the MSB (FINTRAC) register. However, the firm doesn’t have Tier 1 regulation in Canada, which is the IIROC.
What’s concerning, neither do they have any other Tier 1 licenses. For example, FCA, ASIC or BaFin. Not to mention the JFSA (Japan) or MAS (Singapore) where the company mainly operates. On the positive side, the company has at least some kind of license.
AmazingTick Trading Features
One of the leading features this company offers is automated trading. In general, something that nobody likes. Primarily, because traders don’t have control over their accounts and funds, which is a huge disadvantage.
Account Types Available With AmazingTick
In general, account types with this company don’t reveal much about it. Practically, you get unclear trading conditions and zero advanced features. This is not something you expect from a regulated broker. Anyway, you can choose
- Standard account – from 1.6 pips spreads / $0 commissions
- Professional account – from 0.0 pips spreads / $5 commissions per round-turn lot
Important to note that the minimum deposit requirement is not revealed. Neither does the company mention a demo or an Islamic account.
What Trading Software Does The Company Offer?
Regardless of your trading experience, MT4 will always be in our hearts. With all of its features and customization options, it’s always going to be traders’ favorite. Yet, you must keep in mind that the reliable software doesn’t make the broker reliable as well.
In any case, you can use Expert Advisor, copy trading and auto-trading features. Still, to use all of these, you need to have some kind of experience.
Trading On A Mobile and A Demo Account?
In general, the standard part of the offer with the MT4 is a demo account. But also, iOS and Android apps. However, none of the trading conditions will be known to new clients.
AmazingTick brokerage doesn’t provide that risk-free feature to its customers. Unlike the FP Markets broker whose review you can find here.
As can be seen, AmazingTick investment firm is missing quite an important instrument class. That is cryptocurrencies. With their high volatility and popularity, these are dealbreakers for some investors. Instead, the company offers:
- Forex: GBP/USD, JPY/AUD, EUR/SEK
- Indices: FTSE100, CAC40, DowJones
- Shares: Netflix, Walt Disney, General Motors
- Commodities: gold, natural gas, crude oil
Generally speaking, every broker wants more traders in their pool. For that reason, brokerages bring many different plans for their clients to earn more money. But of course, this is all to get more new clients after all. In the case of AmazingTick, the partnership options are:
- Introducing Broker
- White Label
Of course, every one of these programs brings more benefits to a client. But make sure to test the broker out yourself before you make any recommendations. Otherwise, there’s no point. However, we are sure that after testing the AI Analysis Bot, you will forget about these exhausting options.
Funding Methods And Withdrawals
One of the worrying facts in the company’s T&Cs is their funding policy. Allegedly, the company reserves the right to make deposits or withdrawals from the client’s bank account. Of course, if the client accepts the agreement, which is always the case.
After all, it’s quite disturbing to see that the firm doesn’t have transparent processing time or fees. Even though they charge a 3% administration fee for withdrawals on inactive accounts. On top of it, there is a $50 inactivity fee.
For a regulated company they have quite poor contact options. In fact, they don’t provide any quick-response service. Instead, you can reach them via e-mail and a web form.
Sadly, their support is only available on business days. Keep in mind many other brokerages have way more options. Not to mention better working hours.
Final Verdict: Could This Be The Right Choice?
Without Tier-1 regulations, every brokerage could be suspicious. Since 2022, there have been no reviews about the AmazingTick company. If that’s a sign, decide for yourself. In any way, besides their MT4, there are not many positive things.
Staring with their non-transparent trading conditions and withdrawal policy. So, if you are looking for a safe trading environment, you should keep looking. A perfect example can be found in our TradeMarkets review.
How Can I Make Money While Trading Online?
Generally, the only way is to use shortcuts. Otherwise, you have to spend years of education and practice to get to a profitable level. That’s why our AI Analysis Bot is a perfect tool for every trader. All the knowledge you need is combined into a simple signal. Yet, our clients control their money and not any untrusted software.
Which is the key benefit of this tool. Once you realize how much you can trust it, your results could easily become impeccable. We encourage you to contact our experts and see how it all works. After all, the first meeting doesn’t cost you anything. Therefore, you have nothing to lose. Contact us now!
What Is AmazingTick?
AmazingTick is a Canadian brokerage offering FX and CFD trading services since 2022.
Is AmazingTick Regulated?
In fact, yes. The company is listed in the FINTRAC register. However, they don’t have IIROC or any other Tier 1 licenses. For recommendations of top-tier regulated companies, contact us.
What Are The Account Types Of AmazingTick?
The company only offers standard and pro accounts. Yet, none of these could compete with the benefits of the AI Analysis Bot. Get in touch now to find out more.