Are you searching for a reliable broker in and around Germany for trading purposes? You may ask your friends and relatives to get an idea. But, there will be one saying in common: “do not trade with Acatrades!.” They are notorious for many reasons. And in my review, I’ll explain why that’s the case.
Acatrades Does Not Hold a Valid License
Whenever you are trading, you need to invest a suitable amount of money from your side. Isn’t it a good idea to deal with brokers having a good reputation in the market? Acatrades, also known as Acatic Investment, is unfortunately, an unlicensed FOREX broker. It has its head office in Frankfort in Germany and it claims itself as a broker having global recognition almost all around the world.
Also, their business models revolve all around the trading of cryptocurrency. It is high time to note that they always make fake promises to lure customers. As a broker, you must stay alert. As per my Acatrades Review, there are many people who are still waiting for their money.
Do Not Invest Money With Them
Without having a proper understanding of the flaws of the company, it is very much risky to carry on trade with the same. People planning to carry out their trade activities must refrain from carrying out any transaction with Acatrades. Newbies in the innovative world of trade must take help from experts to prevent themselves from such suspicious brokers.
You may come across some exclusively convincing statements by the aggressive marketing team, but better take time to finalize the deal. It will be an intelligent step to go through the review section at the fullest for understanding the agenda. How to distinguish between a scammer and a genuine broker?
How Can a Website Indicate a Scammer?
Yes, simply by studying the website in detail. First and foremost, a scammer will have no genuine contact details mentioned on the website. The same applies to Acatrades. It means that traders will not be able to catch hold of their money at any cost after making their payments. Also, they will hardly come across any update.
After research, I noticed that Acatrades holds an invalid license number from Bafin. Bafin is the highest authority that deals with financial services in Germany. As they have come to know about the same, they are constantly chasing the broker for committing such a big blunder.
High Initial Investment is Another Big Flaw of This Scammer
Acatrades holds genuine support from MT4, but still, it is really difficult to believe this particular broker. The sky-rocketing initial investment is another symptom that it is a big scammer. The minimum investment is $5,000 that is beyond the current market trend. Whenever you will come across something exceptional, a doubt will strike your mind.
Terms and conditions vary a bit from one broker to another. But they need to be crystal clear. The same is not the case with Acatrades. The terms are mentioned in an unclear manner, thus creating lots of confusion. If you start carrying out your operations without having a proper understanding of every term, then you will truly be at risk of losing a hefty amount of money.
Acatrades does not hold a legit license to operate in the field of trading. As a result, it holds in my Acatrades Review that this broker is below average. Also, it has a low rating.
Let us peep in some positive sides in association with Acatrades to understand why people fall for this fraudster so easily.
Reasons Why People Fall Prey of Acatrades
- Availability of MT5 – Acatrades utilizes MTS5 in the best possible manner. It is the latest software by MetaQuotes. It ensures ease of usage and promises some exclusively useful features like easy charting, support for automated trading via experts, customization and many more.
Also, MTS enables traders to execute their trades on variable financial markets. That too through a single account! The spread on USD/EUR floats all-around 0.3 pips along with a negligible commission.
- Low cost of trading – Trading cost is another important point that will help you to distinguish between a broker and a scammer. As per my Acatrades Review, Acatrades has low trading costs. Still, trading with this broker is very risky. It will be a good idea to check out the pricing of top-notch brokers.
- High range of financial assets – Another benefit in association with Acatrades is its rich and highly diversifying portfolio of products. It covers many pairs of FOREX along with numerous CFDs.
Still, it will be a better idea not to trade with Acatrades as it is a scammer. Instead, you must carry on with your research to come across a list of reliable and trustworthy brokers.
Disadvantages of Acatrades
Do you know why top government agencies prevent traders from shaking hands with Acatrades? Firstly, it holds a false claim by the top financial authority. The broker always tries to mislead investors in various ways by presenting false promises.
Additional disadvantages of Acatrades include the following:
- Messages are unclear – Messages by Acatrades are never clear. If you are in a hurry, then you may be at risk of losing a higher amount of money. All points are inclusive of some luring offers with false claims.
- Conditions for trading are not precise – It is another obvious demerit of scammers including Acatraders. There is no trading condition available in the website. Also, the ones present are not clear in terms of meaning. It is the lack of clarity and transparency of this FOREX broker that leaves a very bad impression in the minds of traders.
- False profit – Profits on a monthly basis that Acatrades promises to its traders are totally false. It promises to pay between 3% and 6.5%, but does not pay a single penny. None of the genuine companies guarantee any steady returns in the highly competitive world of online trading.
It is a fact that the weightage of disadvantages is much higher than the list of advantages. How can you trade free mindedly with this broker? Will you ever dare to play with your precious money? Not at all! Better take time to research thoroughly so that you do not fall prey to any scammer.
Lastly, Acatrades is a Shady Broker!
It is clear from the fact that Acatrades is no doubt, a shady broker. It has an exposure as a false claimer and is under strict surveillance by numerous financial regulators. Though it targets investors belonging to Europe, but has not been successful in making a good name as a broker.
Acatrades does not hold any position in terms of turnover. It will be better not to carry on with the operation of trading with such a fraudster broker. Instead, one must go with a reliable broker in the FOREX industry. It must have a valid license by top financial agencies that include the CySEC, FCA and many more.
Choice is yours! Also, take the pain to inform about this scammer to all your nearest and dearest friends.This review (Acatrades) was originally published at The Skeptic Tank. To read the full review, go to – www.skeptictank.org/acatrades/