Welcome to the world of trading, a great place to earn some additional income. But beware! Just like a coin, trading too, has two sides. Make sure to choose the right one. There are a lot of scammers out there whose only goal is to take your money and disappear in a puff of smoke. Unfortunately, this is easier than it seems, but this shouldn’t affect your decision to start trading.
On the contrary, we encourage you to do so, just be careful when choosing the broker. If you’ve stumbled upon this specific company then this article is for you. The Absolute Markets review is a must if you don’t want to end up losing your money to a scam. Read carefully and take notes.
Absolute Markets broker was established in 2021 in Saint Vincent and Grenadines. On the website you can find the information that the company was created by three partners who have more than 10 years of experience with many trading brokers. On the other side, the names and portfolios are non-existent.
Shady. Moving on, the website overall looks good and simple, it contains most of the relevant information about the company and its services. Until you start digging deeper and you will see why. Let’s start with regulations.
To add to the foregoing, we strongly advise you to ignore brokers such asCapital Forex Live,DGTL Trade, andNovaTechFx.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | absolutemarkets.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | N/A |
| Headquarters Country: | Saint Vincent and Grenadines |
| Foundation year: | 2021 |
| Supported Platforms: | MT4 |
| Minimum Deposit: | $50 |
| Cryptocurrencies: | BTC, ETH, XRP |
| Types of Assets: | Forex, Indices, Commodities, Cryptocurrencies |
| Maximum Leverage: | 1:1000 |
| Free Demo Account: | Yes |
| Accepts US clients: | No |
Is Absolute Markets a Secure And Regulated Platform?
No, the Absolute Markets broker is not regulated. We’ve found no trace of this broker with FCA, nor ASIC or BaFin Licenses. The company doesn’t even have Tier1 Regulation. However, they claim to be licensed by the FSA of Saint Vincent and the Grenadines.
Why is this ridiculous? No broker can be regulated by this financial authority because the FSA does not regulate Forex brokers, nor it can monitor its activities. This is one of the reasons why many scammers are opening their companies in that specific country.
They don’t have to answer to any authority in case things go wrong, and things will go wrong. For clients of course. If a broker claims they have regulations when they actually don’t is not very trustworthy and safe. All being said, we have kind advice: Avoid this broker!
How Unsafe Is An Unlicensed Broker?
The regulation is one of the first things you should check before signing in with any company, let alone when you’re investing money. License is there to serve clients. Regulated companies take many measures when it comes to protecting their members from potential bankruptcies. Those brokers must do everything by the book. For example, client’s money must be segregated from company’s money.
Why is that important? The withdrawals are faster and the companies can not use their client’s money for their own investment. Also, one of the things that can prove a company’s financial stability is a minimum operational capital that must be maintained by every licensed broker. In the UK and the EU that amount is 730 000 EUR. It is important to mention negative balance protection as well, which means that you can not lose more money that you initially invested.
These are some of the benefits you are getting when registering with a legit trading company. If you go ahead and decide that Absolute Markets trading is for you, say goodbye to these safety measures.
Absolute Markets Offers MetaTrader 4 Platform
MetaTrader 4 is relatively easy to use and there are many tools and options for market analysis and risk management control. This is a fine trading platform, when it’s working. We’ve tried to test it out with a demo account option and guess what? The software couldn’t be tested. The company’s owners claim to have more than 10 years of experience in the trading world? Yet the trading platform is not working and the company is not regulated. Sounds absurd, right. Well, not for a scammer.
All About Absolute Markets – Accounts Types, Minimum Deposit and Leverage
The Absolute Markets company is offering four account types:
- Micro
- Variable
- ECN
- VIP ECN
The minimum amount for deposit is $50 and the maximum is $5000. For all the accounts leverage goes up to 1:1000. This extremely high leverage is insane and dangerous. Because it can lead to bigger losses and that is why it has been restricted in many jurisdictions. If a broker is regulated you are not allowed to have a leverage higher than 1:30. Do you still believe the Absolute Markets broker is a licensed corporation?
Please remember the names of theWiniCoin,Swiss FX, andFundsProMaxand stay away from them! Before investing, always check the history of online trading organizations!
What Payment Methods Does The Broker Accept?
When it comes to depositing, Absolute Markets is offering a wide range of methods. Clients can make a deposit via:
- Visa
- Mastercard
- Transfer
- Cryptocurrencies
The only problem is that the company is not allowing withdrawals via card. Why? Getting a chargeback on a wire transfer is almost impossible, let alone with crypto transactions who are irreversible. Absolute Market has scam written all over the place.
Absolute Markets Bonuses and Referrals Program – As A Method Of Fraud
Bonus is encouraging, but don’t fall for this. The company is offering bonuses and at the same time failing to present one in the Terms and Conditions section. Accepting a bonus like that means that you will be asked to reach unrealistic turnover before you can make a withdrawal request for a given bonus or any amount from your account. Please note that such promotions are banned in regulated companies.
Scammed by Absolute Markets Broker? – Let Us Hear Your Story
If you already have experience with Absolute Markets and you are reading this after working with them, you are probably looking for a way to recover the money you’ve lost. Being scammed is very stressful, we know it all too well. Unfortunately these things can happen, but don’t despair there is something that you can do. Let us know!
But What Is A Chargeback?
Join us today! Click on the link below. This is completely free of charge. We can help you get your money back.