Arakkal Markets Review
Scammers lack credibility. Depending on the country that a platform originates from they must deposit a certain amount of capital. The amount is used to compensate clients in case of unforeseen risks like facing bankruptcy. Arakkal Markets is not reporting its trading activities to anyone.
Arakkal Markets brags that it has several trading instruments. Traders are urged to take advantage of the market volatility. The scheme presents over 800 CFDs. The firm is also trading precious metals and forex. It boldly claims to be related by the best financial bodies In the market. However, this is a mere bluff as the scheme is operating illegally.
The venture also claims it provides the best security measures for clients’ funds and data. Ponzi schemes never care about the experience that traders get. They will defraud you and never contact you again. We also do not know the kind of trading conditions to expect from the firm. Con artists will claim one thing and end up disappointing investors.
Arakkal Markets is also presenting promotions to traders. Lucrative opportunities of Ponzi schemes associate hidden charges. You may not see it at first. Ensure that you read the terms and conditions to avoid last-minute surprises. Moreover, the regulatory bodies are against investment schemes offering bonuses. Fraudsters nonetheless will allegedly hold regular contests to only make you deposit money.
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Arakkal Markets claims its only purpose is to improve the trading experience of its clients. They also claim to have a tight spread and low margins. The broker claims it does not work with third parties. The withdrawal and deposit are autonomous as the firm is using smart contracts.
The platform claims it only opens safe deals. They run their business in full transparency. How can we trust this is an open scheme when the information of the founder is missing. Moreover, we do not know the qualification of the individuals handling the funds of traders. The scheme also advertises fat commissions to the people that help them get more investors.
Arakkal Markets also state that it uses a decentralized platform. Hence, the data of investors is inaccessible to hackers. Your biggest worry should be trusting con artists. They can do the unthinkable without giving a hoot about traders. The broker state it is cost-effective. Middle-men are eliminated and this helps to yield more returns.
The entity brags it offers an award-winning trading interface. The trading environment that the scheme presents is not ideal. The many years that the scheme brags it has been in the industry are nowhere to be seen. They lack the perfect knowledge of the market.
Arakkal Markets Trading Conditions and Accounts
Arakkal Markets assures investors it is a safe and reliable scheme. The venture claims it uses ethical trading conditions. The firm is using the no-e-quote, and no-rejection policy. They execute the trade in seconds. The scheme claims it has an MT5 trading platform.
Unfortunately, this is another false statement as the download link is broken. The entity offers a spread of 3 pips. This is beyond what the regulatory bodies permits. The company has three trading accounts. The minimum amount that you can deposit is $500. Their scheme is overcharging clients.
Arakkal Markets has a leverage of 1:300. The limit is more than what the regulatory bodies permits. If you are starting out start with low limits as the risks are minimal. Given that we are yet to see anyone that have withdrawn funds from the scheme refrain from doing business with the company.
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Withdrawal and Deposits
Arakkal Markets is a venture that does not provide sufficient information regarding the withdrawal and Deposits. We do not know the payment methods that the entity is accepting. It could be because they are using means that do not allow clients to issue a chargeback.
The account dormancy policy is also missing. The entity will only steal your money and start asking for hidden fees. Walk away while you still can and look for a reliable platform. Rarely do con artists payout.
Regulatory Status of Arakkal Markets
Arakkal Markets is a scheme that does not care about the regulatory bodies. The broker is operating from SVG. The country has a financial body but earlier this year issued a statement they do not supervise online investment activities. Nonetheless, this has not stopped fraudsters from falsely claiming to operate legally from the country.
Investing with companies that have regulatory bodies saves you from much trouble. The law requires that investment firms segregate the funds of investors in a separate account. It helps in ensuring the funds of clients are safe and the withdrawal process is also swift. Transparency is also required. In case things go wrong you can easily issue a chargeback. You will hardly see a company with a license manipulating prices.
However, scammers lack credibility. Depending on the country that a platform originates from they must deposit a certain amount of capital. The amount is used to compensate clients in case of unforeseen risks like facing bankruptcy. Arakkal Markets is not reporting its trading activities to anyone.
Contact Details and Customer Support
Arakkal Markets avails an office address, a phone number, and an email address. Offshores schemes will only respond when they need more money from their victims. However, once you realize they have been stealing from you all communication shall be cut.
Trade with reputable investment firms that understands the importance of having a responsive support team. You will earn real-time returns and have the assurance that in case of any trouble the issue will be handled professionally.
The Domain Insight
Arakkal Markets is a platform that has been in the market since May 2020. The domain name is expected to expire in 2023. Unfortunately, they do not have a trading history and this is the main reason you should refrain from doing business with them. The information of the founder is also not available. They are getting traffic of 7,693,680. It also portrays that investors are not interested in the service of the bogus scheme.
Are Funds Safe in Arakkal Markets?
No, the broker is not providing investors with the safety of funds. It is not licensed by a reputable regulatory body. The scheme is thriving in anonymity. if there is nothing to hide then all the relevant information would be accessible to the public.
It is also impossible to earn returns with a murky business. The possibility of being scammed is high. Moreover, the trading conditions of this Ponzi scheme are not disclosed. The requirements for the withdrawal of the bonuses are missing. We tried to see what clients that have used the services of Arakkal Markets before have to say. Unfortunately, there are no tangible reviews.
Arakkal Markets is a company that will soon be out of the market. The people that are managing the broker are anonymous. There is nothing that proves the venture is trading. They also fail to provide information regarding the withdrawal information. A scheme that has such many red flags will never give back your funds.
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