Disguising themselves as firms that care is the new trend for scam brokers. Such a business model is hugely frowned upon and at the same time, made heavy profits for scam brokers. A lot of trading firms are reluctantly copying these models so that they can fool more and more brokers. One such firm is ActivTrades. With countless loopholes, the firm goes around forcing the people towards a guaranteed loss. Since many people don’t know the technicalities, the broker takes advantage of the situation like a snake would and eats the trader inside-out.
The following review will unravel all such specifics of ActivTrades, who has been fooling people since 2001.
Risks sit on the top floor with ActivTrades:
The broker mentions that all the firm’s supported financial products are subject to financial risks, with the added fact that the trader himself is responsible for any of the losses that incur. The broker runs away from the duty of a protector that a trader expects its broker to be. Also, the broker mentions that not everyone can trade. It is a job made for specific people. We cannot understand what the broker means by this because this is a complete lie. Anyone with the right knowledge can make money off of the market.
ActivTrades Review : Scam as we see it.
The broker’s registration number does not make any sense because one, the broker is already divided into branches with one of the branches situated in the Bahamas. This makes the broker liable to tight offshore regulation. The authorities regulate the broker in the Bahamas. The place in itself is not considered very safe for trading in terms of regulation. The broker claims to be registered in the UK, despite being registered in the Bahamas.
It looks like the broker wants an increased trading volume from places where people know little about trading. Nevertheless, such situations create the scam vibe in the minds of people. Such a broker should be barred immediately, and people should move theory business elsewhere.
The parent company is also claimed to have a regulation in the UK. it is still unclear to us why does the broker need so many registrations under one single name? A genuine reviewing authority would not recommend the firm to anyone.
The shady launch:
The trader should know when the involved brokerage firm saw the face of the market. ActivTrades makes two claims about its inception. One. when it says that the firm was registered in 2002 and one when it says that the firm was registered in 2005. Any investor will naturally feel cheated because the website fails to provide sufficient proof about when it began. The broker claims that it has been in the market since 2001. A broker that has been around for so long should at least come forward and declassify such claims. In case if they are right, then the broker should not be entertained any further.
The broker falsely claims that its business is expanded to thousands of assets. This is a bluff or a false claim since the broker again does not provide any proof for it. It is very hard for traders to believe this claim, and such queries should be immediately resolved.
The broker claims that it provides services in more than 100 countries and gives no proof for this claim. The broker mentions that the tools it offers are very smart but limits them in a restricted manner.
So, making tall claims such that are not in good taste. ActivTrades mentions smart tools, but you do not see any after spanning through the website.
The broker says that the spreads begin from 0.5 pips, but a lot of brokers provide lesser spreads which actually go ahead and profits the trader.
This minimum threshold is maximum for a lot of traders. The broker needs to immediately bring down this minimum requirement because they stop traders from accessing the profit the market is able to deliver.
In simpler terms, the broker should stop eating out from the trader’s plate and start making more clean money.
The broker asks for one euro per traded CF. in one single line the broker claims this and also the fact that for its UK subsidiary, the fees is 0.10 % per transaction. The firm very bluntly exploits the trust a trader puts into it by making such two-faced statements right on the face of the trader.
Mobile trading: A hassle-induced and lagging environment:
The broker’s claim that its mobile experience is good enough, falls on the face when a trader actually uses it. None of the platforms works like the trader wants them to. Instead, the user has to first learn their way around the platform, which has a lot of restrictions for a diverse trader.
The most important factor in trading is the timing with which trade is placed. When the trading platform is made, a particular focus has to be given on how much optimised the platform is. The broker forgets that the less heavy coding languages like android cannot support a trading platform but still provides a platform on the language. The bids placed are a slow process, and it takes more than a millennia to adjust the trading position. By now, it is safe to say that the broker does not pay any attention to its traders. Thus, a trader is on its own.
Direct execution: Not really.
The idea of direct execution is fancy, but it is not rightfully applied in ActivTrades.
The software is a glitch in itself and makes the execution very hard. It feels like human intervention is needed most of the time. And by the time an actual functioning brain (not to be misinterpreted for a customer care rep.) enters, the trade opportunity is long gone. The user can’t even make a complaint because, in the end, the job was done by a robot.
Customer care; Be careful from them.
The broker willfully accepts that it will take almost half an hour to respond to a distress call. It’s a call made in the time of distress and 27 minutes can end a trader’s career. The overall customer care is a pathetic excuse for the same and cannot be relied upon.
Waiting for so long is hazardous to a trader and taking so much time for a cal means that it would take much longer time on the live chat. This is not what people expect from service providers, and this service is absolute trash.
The broker is a complete scam as we see it. It fails to provide reliable services to its traders and makes sure that the trades remain faulty. By doing this, the broker makes way for more and more incoming money. ActivTrades should not be entertained any further. We recommend our traders move their financials to more diverse brokers like PrimeFin, TradeATF etc. these brokers have been in the game for a very long time and have seen a lot of ups and downs. At the same time, have been standing with their chest out in the market, these brokers make sure that the trader does not feel cheated and is not moved by volatile markets. Such brokers protect their traders and treat them like one big family.