Updated on January 19, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding AGAM due to the issues we've identified.
Is AGAM Scam or Legit Broker? ▲
Upon our thorough investigation into AGAM, we have determined that it is a Non-Regulated Broker. This crucial discovery raises significant concerns about the safety and legitimacy of trading with AGAM. We have not found any evidence of regulatory authorization or registration of the broker's address, leading us to believe that the company is highly suspicious and may be operating its services from a completely different, undisclosed location. Given the absence of regulatory oversight, we must emphasize that it is NOT SAFE to engage in trading activities with AGAM. Regulatory bodies play a pivotal role in ensuring transparency and protecting traders from potential fraud, and the lack of such oversight in AGAM's operations is a red flag.
Atlantic Global Asset Management, commonly referred to as AGAM, positions itself as a joint-stock investment fund company, focusing on various financial services including investments, capital and asset management, preparation of companies for IPO, and fintech developments. According to its official website, AGAM claims to operate in 35 countries, primarily in developed Asian markets, with its company address listed in Cabo Verde. AGAM also claims ownership of a large Asian bank, purporting to ensure transaction security and processing.
However, our investigation reveals a concerning lack of license or authorization from any global financial regulatory bodies, which is essential for legal operation and client protection in the financial services industry. Despite its claims, AGAM has been flagged by various regulators, including BaFIN in Germany, FCA in the UK, and FSMA in Belgium, for offering financial services without appropriate authorization. These warnings highlight the significant risks associated with dealing with unlicensed entities like AGAM.
In conclusion, based on our comprehensive review and analysis, we strongly advise against opening a trading account with AGAM. The lack of regulatory oversight and authorization from respected global authorities raises serious concerns about the broker's legitimacy and the safety of traders' investments. We recommend that traders seek out brokers that are regulated by reputable bodies such as the FCA in the UK and ASIC in Australia. Engaging with regulated brokers ensures adherence to strict rules and protections, contributing to a more secure trading environment.
Our latest findings indicate that the AGAM website is currently inactive, which suggests that the broker has ceased its trading offerings and is not operating at this time. Despite this, we urge traders to exercise caution and remain vigilant to avoid any potential proposals or engagements with AGAM. The inactivity of the broker's website, combined with the absence of regulatory compliance, reinforces our recommendation to steer clear of AGAM and prioritize trading with regulated and reputable brokers.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
AGAM Review 2024
