Armada Markets Review
Country: Estonia (EU)
Regulated by: Ministry of Economics (Estonia).
Foreign exchange license no: VVT000289
Precious metals brokerage license no: KHK010800 & KJK043569
Armada Classic Account:
minimum deposit: $100
minimum lot size: 1k (micro lot)
maximum leverage: 1:500
EURUSD spread range: 0.6-1.2
Armada Exchange Account:
minimum deposit: $300
minimum lot size: 1k
maximum leverage: 1:500
EURUSD typical spread: 0.2 pips
Commission: $4 per roundturn lot traded
STP / NDD – Armada Markets is partner of LMAX – multilateral trading facility that matches buyers to sellers, within an anonymous trading venue
Armada Markets Spread:
Variable spread, from 0 pip on EUR/USD
Armada Deposit/Withdrawal methods
Bank Wire, Credit card, Skrill (MoneyBookers)
Armada Trading Platforms:
MT4 – desktop, iPhone, Android and Smartphone versions
What we think about Armada Markets
Armada Markets is an Estonian forex broker that offers super tight spreads and extremely fast execution. We know that from first hand – we signed up for the broker’s Welcome account and got a free starting capital of 15 Euro to trade with.
The Welcome account is not the only way to get some free money off Armada – you can also do that by being a super-duper-good trader: every month the broker picks a trader with high profits and great money & risk management skills, and awards them with $500. If you don’t get picked as “Trader of the Month”, you can always refer some friends and get $15 for every one of them who signs up.
Even though you can start practically for free, Armada Markets is not targeting absolute beginners, hence the lack of an educational resources section on the site. Truth to be told, more experienced traders won’t find any training wheels either – at least not on the broker’s site. However, the platform that Armada offers is MT4 and there you have all the technical and fundamental analysis tools that you need, including one-click trading.
Armada Markets is a true ECN broker, and it offers both positive and negative price corrections (e.g. positive and negative slippage). It is a preferred member of LMAX Exchange, and offers access to liquidity from Citi Bank, NatWest, Swedbank, etc.
The one thing that is tricky about Armada Markets is its regulation. The broker is registered in Estonia – one of the countries that recently voted yes on a financial transaction tax (known also as Tobin tax), which may force the broker to widen its spreads – but until that happens, Armada remains a pretty good choice for a trading partner.
Armada Markets Review Conclusion
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