According to statistics, about 70 percent of traders investing in the CFDs market lose their money. These statistics only refer to traders who placed their trades with legit brokers but incurred losses due to wrong speculations, volatility, or unprecedented turns in the market. However, those who lose to fraudulent brokers are about the same statistics. How? You may ask. It’s simple; the investors fell prey to brokers like Atlantisglobaltrade.

 Regarding investment in digital assets, we cannot insist enough on the importance of caution. With unscrupulous brokers on the rampage, you cannot afford to take chances on your investment’s security or viability. While you cannot entirely dodge the risks in this market, you can at least ensure that you mitigate them by investing only with a valid crypto options broker.

Achieving this might take a prying eye to identify fishy brokers. Also, investors must be familiar with glossy advertising that scammers use to lure them into their traps. This can help them avoid making costly investment blunders by choosing the long broker. Remember, a broker is as good as its regulation, and the more stringent the regulator is, the better for investors.

The subsequent review has a reference frame against which you can gauge brokers. Moreover, it reveals the warning signs we found on this website, informing our conclusion that the broker is unfit for forex investment. Therefore, before engaging this broker, consider the following review.

Atlantisglobaltrade.com Review

This is a binary options provider posing as a forex or CFD broker. Clients of such brokers place bets on whether the price of a certain asset will go up or down in a certain timeframe. If right, they will receive some returns; if incorrect, they will lose everything they invested. Despite claiming over 13 years of operational experience, the whois database disapproves this as it shows the broker registered its domain on 7 August 2022. This also nullifies its claims of winning several awards in 2020 and having over 10M customers.

We also spot a high-yield investment program (HYIP) component because the broker states that they have rewards totaling over 100M. Always be wary of brokers advertising too-good-to-be-true returns. According to the website, the broker claims to give access to various trading instruments, including cryptos, forex, indices, equities, commodities, and futures.

The alleged benefits of investing with this broker include research and education insights, trading tool variety, elaborate customer support, and global services. Moreover, investors can purportedly monetize their skills, as they get paid every time another user copies their trades.

Contact Details

The broker claims to have offices in several locations, including the UK, South Africa, Bahamas, and Mauritius. However, claiming to be in the UK is an outright lie, as this country doesn’t allow binary options services. The broker’s contact page also seems to suggest that it has offices in the US. This, again, is impossible, given the broker’s dubious nature. The broker can only thrive in unregulated forex jurisdictions.

There is a telephone contract on the broker’s website. Fishy or not, desist from contacting this broker. If you do so, you will give it more room to manipulate you. Remember, these brokers mostly cold call you in an attempt to onboard you. Stay away!

Deposit & Withdrawal Policy

Atlantisglobaltrade claims to accept credit or debit cards, bank transfers, cryptos, and e-wallets. However, its deposit menu only accepted wire transfers and cryptos (Bitcoin, Ethereum, Doge). Crypto payments are the darling of illegal brokers as they make it convenient to steal from you. This is because the transactions are entirely anonymous.

According to the website, the minimum deposit is $1. However, this was misleading since the broker could only take a minimum of $25. Regardless of the low minimum deposit, you should refrain from investing with the broker as it is illegal. Also, this could be an enticement to deposit to this broker. Investors can only withdraw via cryptos, another proof that the broker doesn’t comply with the AML policies typical of offshore entities.

Atlantisglobaltrade Regulation

Most financial regulators outlaw the binary options trading approach, and some even outright forbid it in their countries. This is because most binary options brokers actively manipulate prices to make users lose. 

This broker tells a chain of lies regarding its regulation. Atlantisglobaltrade allegedly holds licenses in the UK, the Bahamas, and Mauritius. The latter of these claims might be the simplest to refute. For one, the broker’s trading model is outlawed in the UK. Thus, we can confidently dispel these claims, as a binary options broker cannot obtain a license. To compound the matter, the FCA has warned the public against this broker, exposing it as a clone. 

As for Mauritius and Bahamas, these offshore zones have been in the limelight for the wrong reasons, including international scandals and illicit financial services and flows. This is because offshore regions have little to no oversight, especially on the financial frontiers. Upon checking with Mauritius SFC, we came short. We also discredited its claim to be in South Africa as the broker’s credentials were missing from the Financial Services Conduct Authority (FSCA) database.

Investing with unregulated brokers is a considerable risk. The broker can squander your money anytime, and you can do nothing. Moreover, you will not get compensated when (not if) the broker vanishes with your money. Lastly, trading with an illegal broker precludes legal action. This is because offshore brokers present jurisdictional constraints, making it hard to prosecute them.

Trading Conditions

Atlantisglobaltrade has not attached any legal documentation. This is not an oversight you will find with legit brokers. On the contrary, they ensure that T&Cs are well articulated. The expectations of both parties are clear from the outset.

Unlike forex brokers that use spreads and leverage, binary options broker use payouts. This refers to the percentage added to your wager for correct predictions. A large payout likely indicates shady deals. Most binary brokers have payouts ranging from 70 to 80%. It is typical for 90%-plus percentages, which though alluring, reveals that unethical tactics will be at play. Atlantisglobaltrade has a payout of 90 percent.

Also, the broker claims to have an insurance policy that covers clients up to $500000 in case of insolvency. However, investors should not mistake this for the financial services commission’s compensation fund. Indeed, we highly suspect this is another ploy to lure you to the broker.

Atlantisglobaltrade Trading Software

Hundreds of brokers use the MT 4 trading platform, which has become the industry standard for the Forex market. Traders can open and terminate forex positions without worrying about the stability of their platform, thanks to the platform offering cutting-edge technology and improved security. This platform includes more than fifty pre-installed technical indicators.

More tools and capacities are available than in any other trading program. Additionally, you can construct bespoke scripts from scratch or use the building blocks provided by the platform. Nevertheless, you must confirm that the broker you work with is authorized.

Despite promising an MT5 trading platform, what we found was a bad joke of a trading platform. There are absolutely no additional features or charting or analytical tools. Only three instruments are available for investors to buy or sell (EURUSD, BTCUSD, and USDCAD). The broker also mentions copy trading services to allow novice traders to copy professional traders. However, this presents yet another loophole to deceive investors that it is investing their money.

Verdict

Atlantisglobaltrade fumbles at convincing us that it is a worthwhile broker. Claiming UK and SA licensure while it can’t prove authorization to operate is self-defeating. The broker’s lack of regulation draws our attention to its lack of regard for laws and investors’ interests. In addition, the broker’s lack of transparency beats the investing logic. Why would you risk investing with a broker lying about its business model?

Although binary trading options are not a popular investment venture, it is legal in some countries. As much as we don’t recommend it, you can still trade if you want to. A viable investment goes hand in hand with accountability and oversight. Fortunately, there is a foolproof way to ensure you are not a scam victim. This is through confirming a broker’s licensure with the respective agency’s registry. A match implies you are dealing with a valid crypto options broker, and the opposite is true.

 

 

 

 

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