Athens Markets Review: Stay Away from This Fraudulent Broker

In the pool of shady, fraudulent investment scams, Athens Markets doesn’t stand out that much. They offer pretty much the same thing as many other scam brokers, so figuring out that they are not a real deal is very easy.

The company is a part of the group called Athens Markets LTD registered in the British Virgin Islands. Athens Markets has existed since 2022 and should comply with the country’s FSA regulations.

Of course, in order to be able to provide their services to the clients of the European Union, they need to be regulated by Tier 1 regulators. However, from experience, we know that offshore companies are never regulated by any of the renowned regulators. Their goal is often to hide something or to be below the radar.

Because there is a lot to cover, read this Athens Markets broker review to learn more about this fraudulent brokerage and all the shady tactics they use to swindle you.

You should also look out for BitOpps and SevenSeasFX. They are also scammers just looking to take all your money. 

License and Regulations of Athens Markets

When you are in the investment business, having a regulation is a must. Not only is this important for a company but it’s also important for clients safety and safety of their funds.

With that said, we had to check Athens Market and their alleged regulation. And that’s what we did. First we checked the domestic regulatory body, FSA from the British Virgin Islands. It was no surprise that results were disappointing and we can confirm that they don’t have a license for trading FX and CFD markets.

Additionally, we are always checking Tier 1 regulators. That’s why companies tend to have those licenses besides domestic ones. Unfortunately, we couldn’t find any information in FCA, BaFin, FCA or ASIC database about the Athens Markets broker.

Athens Market is a broker that doesn’t provide clear trading and basic conditions. A fresh company without any reputable background from the British Virgin Islands. On top of that, they don’t have a license for that business from any regulator.

Trading Platform Available at Athens Markets 

As we mentioned earlier, offshore companies, such as SevenSeasFX, tend to hide information. Not only did they not provide a minimum deposit required, but they also didn’t provide anywhere what platform they are using. After a lot of digging, we found that they are using MetaTrader5. Honestly, there was no logical reason why not to disclose that information since that is the most trusted trading platform.

MT5 is an industry standard and provides a wide range of features. From advanced charts and indicators, social and EA trading, copy trading and many more.

This software comes with an app that can be downloaded on any device. It’s especially important to be available on a phone or tablet.

Athens Markets Account Types

In comparison to other trading scams, Athens Markets broker has a very poor choice of account types. They are offering only 2 account types which include the following: 

• Athens standard
• Athens pro 

The Standard account has unfavorable trading conditions starting with spreads from 1.5 pips, while the Pro has from 0.01 pips. On the other hand, the Pro account has flat-rate commissions and the Standard account has zero commissions.

The only good thing is that they provide a Demo account but unfortunately you can’t even access it. This leads us to believe they just plastered the Demo account button which doesn’t even do anything. In other words, they will push you to open a real account so they can take your money as soon as possible.

Deposit and Withdrawal Methods

Just like many other things regarding the Athens Markets broker, they also missed to  provide any information about depositing methods. According to their FAQ section, the only available option is Bitcoin. Usually, legit companies offer a card or wire transfer but that is not the case with Athens Markets.

We also saw from many Athens Markets reviews that people got scammed only through crypto wallets. As we have seen, they were not releasing money that clients made. The only reason why scammers prefer cryptos is traceability and encryption. Crypto transfers are the riskiest option available simply because you don’t have proof of that transaction.

Offshore Brokers Fraudulent Tactics

We said it many times before but investment scams can differ a bit. Nonetheless the core remains the same. All these scammers lurk for the personal information people left on online ads and once they come in possession of it, the constant emails and calls will start.

Scam brokers are always unregulated but often claim to be or are just registered somewhere offshore, which helps them remain anonymous. If you open an account with such an entity, you should expect endless phone calls. 

Scammers will constantly try to approach you and make you deposit money as quickly as possible. Remember that urgency is always a bad sign, so it’s probably a scam if someone calls you twenty times per day, asking for money.

Keep in mind that even if the broker claims to have a license, like this one does, the regulation numbers they provided can be fake and need to be checked as well.

Athens Markets Summary

Our Athens Markets review was made so you can get familiar with yet another offshore broker that is trying to lure in its clients with a not-so-legit looking website. The reality, on the other hand, is much different, as this is just another unregulated firm claiming to follow legal guidelines and offering online financial services.

As for deposit amount, this info is not even stated on the brokers website which is just a huge red flag. Lastly, there is a demo account that cannot be accessed at all which did not surprise us that much. These are all quite worrisome facts and a good enough reason to avoid this broker altogether.  

In conclusion, we recommend you stay away from this cyber fraud and work with some of the well-recognized and reliable brokers we recommended.

FAQs About Athens Markets Broker