AppleTrade Review – Facts About AppleTrade.De Broker
As quickly as they registered, that fast they vanished. AppleTrade broker is one more in the line of anonymous scam sites.
Since some regulators warned traders against this broker, they shut down their website. This brand was owned by Appletrade Ltd based in Ireland.
To find out how to stay protected from these or other scam brokers in the future and what signs of a scam are, check out this AppleTrade broker review. Here we will cover all the lies this investment scam said and all the things they did.
|Broker Status:||Unregulated scam broker|
|Blacklisted as a Scam by:||FMA|
|Broker Owner:||Appletrade Ltd.|
|Online Trading Platforms:||WebTrader|
|Crypto Asset Trading:||Yes (BTC, ETH, XRP)|
|CFD Trading Option:||No|
|Available Trading Instruments:||Forex, Commodities, Indices, Shares, Cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
AppleTrade Regulation and Fund Security
AppleTrade is another broker with a clever name that cannot be explored too much. Once you search for the name, it’s so generic that you will get Apple company and their payment options. However, we were able to discover that the alleged owner of the broker is Appletrade Ltd from Ireland.
A simple search through the Irish Financial Regulator register showed us that broker regulation doesn’t exist and the company is not even registered there. We can assume the broker was established offshore since offshore regulators don’t care too much about unregulated brokers.
The Austrian regulatory body FMA discovered illegal operations conducted by AppleTrade and issued an official warning. As per this warning, despite AppleTrade claims to be based in Ireland, this broker has no EU regulations and cannot provide financial services in Austria or any other EU country.
AppleTrade Trading Software
Since the broker’s website is no longer active, we’ve checked a lot of AppleTrade reviews looking for information regarding the platform and trading conditions. As per these reviews, the trading platform irresistibly looks like MT5, but without some main features.
Another issue, besides the features, was the leverage. The broker was offering leverage of 1:888, proving that it cannot be regulated. All the EU regulators are limiting the leverage up to 1:30 for the Forex market in order to reduce risks.
Available Account Types at AppleTrade
AppleTrade offered four different account types to its clients. Those accounts included the following ones:
- Bronze $500
- Silver $1,000
- Gold $5,000
- Platinum $25,000
The higher-tier accounts come with additional perks, such as access to a personal account manager and lower spreads. However, given the broker’s poor reputation and lack of regulation, investors should be careful.
Sadly, this broker doesn’t provide access to a demo account. While some licensed brokers offer at least a micro account, this is unacceptable for experienced traders.
Deposit and Withdrawal Process
AppleTrader broker offered the following deposit methods:
- Visa or Master credit or debit card
- Wire transfers
The minimum deposit of $500 is higher than expected. Especially considering AppleTrade’s reputation. However, information on the related fees and processing time for withdrawal requests is not readily available. As a result, you have so many negative AppleTrade reviews.
How the Fraud Was Perpetrated
You probably have heard of these types of scams, and it all starts once you leave your personal data on some sketchy website. Once they get a hold of it, the non-stop calls will begin, all in order for you to give them your money.
Not only do they hide the most basic info like the necessary documentation, but they also do not give any trading software you can use for actual trading. On top of that, there is no mention of any fees anywhere.
If you make some profit on their so-called platform, their agents will give you a call saying you need to invest more and if you do so there will be an enormous profit you will likely make. There is also the story that if you don’t invest more, you will lose all of your profits, which of course would never happen with a legit broker.
In case you have been scammed by AppleTrade or any other fraudulent broker, getting your money back is possible! We would also be thankful if you can share your experience with us since we can help you report your scammers to the authorities.
In this AppleTrade review, we tried to show you some tactics many phony brokers use to look more legit. They often provide false addresses and claim to be based in Europe when in reality they are no more than an offshore scam.
It also comes as no surprise that they are claiming to follow legal guidelines and have licenses for providing online financial services. Which is once again all false.
The next red flag is that the minimum required is $500 even for beginners and there is no demo account for you to try. This is outrageous and you shouldn’t overlook the fact that legit brokers will ask for as little as $5.
FAQs About AppleTrade Broker
Is AppleTrade a Regulated Broker?
Absolutely not, they are just another lousy scam that is trying to steal your money.
Is My Money Safe at AppleTrade?
No, your funds and personal data is not safe with this scam broker that follows no regulations.
What Is The Minimum Deposit at AppleTrade?
The minimum deposit required for new or existing AppleTrade clients is $500.