Caution Investors Arptrade.com – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements.
Overview:
Arptrade.com is a website that claims to be a leading online trading platform that offers access to over 250 financial instruments, including forex, commodities, indices, stocks, and cryptocurrencies. The website also claims to provide advanced trading tools, educational resources, competitive spreads, and fast execution. However, arptrade.com is not authorized or regulated by any reputable financial authority, and the FCA has warned the public that it is operating illegally and may be involved in scam activities.
Regulation and Compliance:
One of the most important factors to consider when choosing a broker is whether it is regulated by a reputable financial authority, such as the FCA in the UK, the ASIC in Australia, the CySEC in Cyprus, or the NFA in the US. Regulation ensures that brokers comply with high standards of security, transparency, fairness, and customer protection. Regulated brokers are also required to segregate client funds from their own, participate in compensation schemes, and submit regular reports to their regulators. Arptrade.com does not have any of these features, and it is not licensed or registered by any authority. This means that it is operating illegally and can manipulate prices, withhold withdrawals, close accounts, or disappear with your money at any time.
Customer Reviews:
Another way to assess the credibility and reputation of a broker is to look at customer reviews and feedback from other traders who have used its services. Arptrade.com has very few reviews online, and most of them are negative. Many customers have complained that arptrade.com is a scam that does not allow them to withdraw their money, charges hidden fees, provides poor customer service, and uses aggressive marketing tactics. Some customers have also reported that arptrade.com has contacted them using fake names and phone numbers, and has tried to persuade them to deposit more money or reveal their personal information.
Products and Services:
Arptrade.com claims to offer a variety of products and services to its customers, such as:
– A web-based trading platform that is compatible with all devices and browsers
– A mobile app that allows trading on the go
– A demo account that allows practicing trading with virtual money
– A range of account types that cater to different levels of experience and investment
– A selection of payment methods that include credit cards, bank transfers, e-wallets and cryptocurrencies
– A 24/7 customer support team that can be reached via phone, email or live chat
However, these claims are not verified or supported by any evidence, and they may be false or misleading. Arptrade.com does not provide any information about its trading conditions, such as spreads, commissions, leverage, margin requirements, or execution speed. Arptrade.com also does not disclose its ownership, location, or contact details, which raises further doubts about its legitimacy and transparency.
Location:
Arptrade.com does not reveal its physical address or country of origin on its website. The only contact information it provides is a phone number with a UK country code (+44) and an email address ([email protected]). However, these details may not be genuine or reliable, as arptrade.com is not authorized or regulated by the FCA or any other UK authority. Moreover, arptrade.com may be using a virtual phone number or a proxy server to hide its real location or identity. Therefore, it is impossible to know where arptrade.com is based or who runs it.
Customer Service:
Arptrade.com claims to have a 24/7 customer support team that can be reached via phone, email, or live chat. However, many customers have reported that arptrade.com’s customer service is very poor and unresponsive. Some customers have said that arptrade.com’s phone number does not work or goes unanswered, while others have said that arptrade.com’s email address does not reply or send automated messages. Some customers have also said that arptrade.com’s live chat feature is either offline or unavailable most of the time.
Is Your Money Safe in an Unregulated Company?
The answer is no. If you deposit your money with an unregulated company like arptrade.com, you are exposing yourself to a high risk of losing it all. Unregulated companies are not bound by any rules or regulations that protect your rights as a customer. They can manipulate prices, execute trades against you, refuse withdrawals, charge hidden fees, or close your account without warning. They can also run away with your money without leaving any trace or recourse. You will not be able to file a complaint or seek compensation from any authority or scheme if you fall victim to an unregulated company’s scam.
Defensive Measures Against Fraudulent Brokers:
If you want to avoid being scammed by fraudulent brokers like arptrade.com, you should follow these defensive measures:
– Do your research before choosing a broker. Check its regulation, reputation, reviews, products, services, and contact details. Verify its license and registration number with the relevant authority. Avoid brokers that are not regulated or have negative feedback from customers.
– Be wary of unsolicited calls or emails from brokers that offer you unrealistic or too-good-to-be-true deals. Do not give out your personal or financial information to anyone you do not know or trust. Do not click on any links or attachments that may contain malware or phishing scams.
– Start with a small amount of money and test the broker’s platform and service. See how fast and easy it is to deposit and withdraw your money. See how fair and transparent the trading conditions are. See how responsive and helpful the customer support is. If you encounter any problems or red flags, stop trading and withdraw your money immediately.
– Use secure and reputable payment methods that allow you to dispute or reverse transactions in case of fraud. Avoid using methods that are irreversible or untraceable, such as wire transfers, cryptocurrencies, or prepaid cards.
– Keep records of all your communications and transactions with the broker. Take screenshots, save emails, record phone calls, and keep receipts. These may serve as evidence if you need to file a complaint or seek legal action against the broker.
Conclusion:
Arptrade.com is an unauthorized entity that claims to offer forex and CFD trading services. The FCA has issued a warning against this broker and advised investors to avoid it. Arptrade.com is not regulated by any authority, and it may be involved in scam activities. Arptrade.com does not provide any information about its trading conditions, ownership, location, or contact details. Arptrade.com has very few reviews online, and most of them are negative. Arptrade.com’s customer service is very poor and unresponsive. Arptrade.com’s products and services are not verified or supported by any evidence, and they may be false or misleading.
If you want to trade forex or CFDs online, you should choose a regulated and reputable broker that offers security, transparency, fairness, and customer protection. You should also follow some defensive measures to protect yourself from fraudulent brokers like arptrade.com. You should do your research, be wary of unsolicited offers, start with a small amount, use secure payment methods, and keep records of your dealings with the broker.
