Caution Investors – Caution Investors Australiantrader – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Overview:
Australiantrader is a website that claims to provide online trading services for forex, stocks, commodities, indices, cryptocurrencies and more. The company claims to have offices in London, UK, and Perth, Australia, and to operate under the name of Australiantrader Ltd. However, there is no evidence that this company is registered or regulated by any reputable authority in either country. In fact, the Australian Securities and Investments Commission (ASIC) has issued a warning against Australiantrader, stating that it is not licensed to provide financial services in Australia and that it may be involved in a scam.
Regulation and Compliance:
One of the most important factors to consider when choosing an online trading platform is whether it is regulated by a reputable authority that can protect your rights and interests as an investor. Regulation ensures that the platform complies with certain standards of security, transparency, fairness, and customer protection. Regulated platforms are also required to segregate client funds from their own, to use reputable payment methods, and to provide dispute resolution mechanisms in case of any issues.
Unfortunately, Australiantrader does not meet any of these criteria. The company is not regulated by any authority in the UK or Australia, nor does it have any affiliation with any other regulated entity. This means that there is no guarantee that the company is legitimate, that it follows any rules or ethics, or that it will honor its obligations to its customers. Furthermore, the company does not provide any information about its legal status, ownership, registration number, or address on its website. The only contact details provided are two email addresses and two phone numbers, which may not be reliable or responsive.
Customer Reviews:
Another way to assess the credibility and reputation of an online trading platform is to look at the feedback and reviews from other customers who have used it. This can give you an insight into the quality of the platform’s products, services, features, customer support, and overall performance. However, you should also be careful about the source and authenticity of the reviews, as some platforms may use fake or paid reviews to boost their image or to discredit their competitors.
In the case of Australiantrader, there are very few customer reviews available online, and most of them are negative. Many customers have complained about losing money with this platform, being unable to withdraw their funds, being pressured to deposit more money, being misled by false promises and advertisements, and being ignored or blocked by the customer support team. Some customers have even reported that they have been scammed by Australiantrader and that they have filed complaints with the authorities.
Products and Services:
Australiantrader claims to offer a wide range of products and services for online trading, including:
– Forex: The platform claims to offer access to over 50 currency pairs, with low spreads and high leverage.
– Stocks: The platform claims to offer access to over 1000 stocks from various markets around the world, with low commissions and high leverage.
– Commodities: The platform claims to offer access to over 20 commodities, including metals, energy, and agricultural products, with low spreads and high leverage.
– Indices: The platform claims to offer access to over 15 indices from various markets around the world, with low spreads and high leverage.
– Cryptocurrencies: The platform claims to offer access to over 10 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, with low spreads and high leverage.
However, there is no evidence that these products and services are actually available or reliable on this platform. The platform does not provide any details about its trading conditions, such as the minimum deposit amount, the minimum trade size, the margin requirements, the fees and charges, the execution speed or the slippage rate. The platform also does not provide any information about its trading platforms or tools, such as whether it uses MetaTrader 4 or 5 (MT4/MT5), whether it offers web-based or mobile trading options, and whether it provides any educational resources or market analysis tools.
Location:
Australiantrader claims to have offices in London, UK, and Perth, Australia. However, there is no proof that these offices actually exist or belong to this company. The address provided for the London office (Tower 42, 25 Old Broad St) is a well-known location for virtual offices that can be rented by anyone for a fee. The address provided for the Perth office (Level 18, Central Park) is also a location for virtual offices that can be rented by anyone for a fee. Therefore, it is possible that Australiantrader does not have any physical presence in either country and that it is using these addresses to mislead its customers.
Customer Service:
Australiantrader claims to provide 24/7 customer service via email and phone. However, many customers have reported that the customer service team is unresponsive, unprofessional, rude and unhelpful. Some customers have also reported that the customer service team has tried to pressure them to deposit more money, to accept bonuses with hidden terms and conditions, or to give them access to their personal or financial information. Some customers have also reported that the customer service team has blocked their accounts or phone numbers after they requested to withdraw their money or to close their accounts.
Is Your Money Safe in an unregulated company?
The answer is no. If you invest your money with an unregulated company like Australiantrader, you are exposing yourself to a high risk of losing it all. There is no guarantee that the company is legitimate, that it follows any rules or ethics, or that it will honor its obligations to its customers. There is also no guarantee that the company will protect your personal or financial information, that it will segregate your funds from its own, or that it will use reputable payment methods. There is also no guarantee that you will be able to withdraw your money at any time, or that you will be able to get any assistance or compensation in case of any issues.
Conclusion:
Australiantrader is an unlicensed online trading platform that claims to offer a variety of products and services to Australian investors. However, there are many red flags and risks associated with this company that you should be aware of before investing your money. The company is not regulated by any authority in the UK or Australia, nor does it have any affiliation with any other regulated entity. The company does not provide any information about its legal status, ownership, registration number or address on its website. The company does not provide any details about its trading conditions, platforms or tools on its website. The company has received many negative reviews and complaints from customers who have lost money with this platform. The company has also been warned by the ASIC as a potential scam.
Therefore, we strongly advise you to avoid this platform and to look for a more reputable and regulated online trading platform that can offer you a safe and secure trading experience.
