Review on Agenamarkets1
Agena Markets claims to be an STP (Straight Through Processing) forex/CFD broker, based in Montenegro. They advertise more than 200 tradable instruments (forex pairs, indices, metals, energies, shares, etc.), use of the MetaTrader 5 (MT5) platform (desktop, web, mobile), raw spreads, 24/5 support, and promotional bonuses (welcome bonus, refer-a-friend, etc.). Their marketing emphasizes fast execution, multiple account types, trading tools (economic calendar, analysis, signals), and instruments of choice for both novice and experienced traders.
Yet, multiple independent reviews, broker watchdogs, and users have flagged serious issues. Notably, Agena Markets does not appear to hold valid regulatory licenses in Montenegro or elsewhere. They are not listed in the official regulator’s registry in Montenegro. Their regulatory status is listed as “No License” on sources that monitor brokers. Several sites mark its Operating Status as SCAM. Also, user complaints (particularly in Turkey via Şikayetvar) point to withdrawal issues, misleading trade advice, unexpected fees/spreads, aggressive solicitation, and difficulties getting funds back. Some promotions (e.g. big bonuses) seem designed to lure deposits rather than benefit traders.
Overall, while the site presents a lot of features you’d expect from a broker, the evidence weighs heavily toward it being unsafe and very likely a scam.
Notable Keypoints to note on agenamarkets1
User complaints, especially about withdrawals On Turkish complaint site Şikayetvar, many users report difficulties withdrawing, delays, being pressured by “investment advisors,” high spreads / unexpected costs, and in some cases losing money due to stop-loss / swap / spread manipulations.
Very low trust scores from watchdogs On WikiFX, the broker gets a score of ~1.28/10, listed as “No License.” WikiFX Also BrokersView says “Operating status: SCAM.”
No valid regulatory license Agena Markets claims to be based in Montenegro, but verification in the Montenegro Capital Markets Authority (or equivalent) shows no such listing. Regulatory oversight is essential for financial safety.
Transparency gaps Many critical details are vague or missing: minimum deposit is unclear, exact spreads/fees are not clearly published, ownership is not well documented, regulatory history is missing.
Regulatory Absence & Misleading Location Claims
The site claims to be “registered in Montenegro” but verification with the Montenegro regulator’s registry yields no record of Agena Markets or its affiliated entity. That means they are operating without legal authorization if they are claiming to offer regulated financial services. This is a major red flag: any reputable broker should clearly display its regulatory license, license number, authority name, and be verifiable independently. Agena fails this test. Trust Indicators are Negative Across Multiple Independent Sources
When multiple broker-review watchdogs, user complaint platforms, and financial safety tools all flag the same issues, it is unlikely to be coincidence. The site gets very low ratings (1.28/10 on WikiFX; “Operating status: SCAM” on BrokersView). These aren’t minor criticisms—they are serious warnings.
User Complaints of Withdrawal Problems & Unfair Practices
Many users report that they could deposit, make trades (or be pressured to make trades), but then when it came to withdrawing profits (or even sometimes invested capital), the company delayed, imposed unexpected fees/spread increases, used high swap charges, or simply ignored / did not honor requests. Complaints include misdirection by “investment advisors,” being encouraged to deposit more to keep open positions, manipulative practices. These are common characteristics of scam brokers.
Promotional Offers That Appear Designed to Trap
Welcome bonuses, referral bonuses, account transfer bonuses are commonly used by brokers. But in many scam cases, these bonuses come with heavy strings attached (high volume requirements, no withdrawal until much trading is done, spread/commission markup, etc.). Agena Markets advertises a 30% welcome bonus, etc. Those might look appealing, but often result in traders finding they cannot withdraw or are penalized heavily.
Lack of Fee / Spread Transparency
They claim “raw spreads,” but do not show specific numbers or precise conditions. Without knowing what the spread is, what commission is charged, what swap / overnight fees are, etc., it’s impossible to judge cost of trading, or whether the trades are profitable. Opaqueness here is a risk.
Marketing vs Reality Mismatch
The site claims many features: over 200 instruments, raw spreads, STP execution, MT5 platform, etc. These are typical of serious brokers—but when combined with lack of regulation and user reports of bad behavior, it's likely that not all these claims are delivered in good faith. Some features may be there superficially, but execution or terms may be unfair.
High Risk of Loss / Irrecoverable Funds
Because the broker is unregulated (or at least claims that regulation but isn't verifiable), users have little legal recourse in case something goes wrong. If the broker disappears or refuses withdrawal, there's no regulatory body to complain to. You may lose funds permanently.
All of this leads to the conclusion that Agena Markets is not operating at the level of trustworthy brokers. It may be structured to take deposits under the guise of trading, promote profits, then make withdrawal difficult.
