Arotrade Review – 5 things you should know about arotrade.com

Arotrade Review – 5 things you should know about arotrade.com

Beware! This is an offshore broker! Your investment may be at risk.

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Arotrade is forex and CFD broker, offering a good variety of currency pairs and CFDs on commodities, indices, stocks and even crypto coins with a choice of five account types, on proprietary web based platform. The crypto CFDs include popular coins like Bitcoin, Ethereum, Ripple, Litecoin and Dash.

As tested with a demo account the benchmark EURUSD spread was fixed at 3 pips, which is basically twice higher than what traders usually consider acceptable with a standard account. Arotrade allows leverage of up to 1:200 with all account types.

The minimum deposit requirement is 250 USD for the starting Basic Account and goes up to 25 000 USD with the Platinum Account.

Arotrade regulation & safety of funds

Arotrade is a trading name of SPEED SOLUTIONS Ltd. – a company based in Belize and regulated by the local International Financial Services Commission (IFSC). However, all client transactions are being processed by SPEED PA LTD – another company, based in Bulgaria.

Although the IFSC is considered more reliable than phony regulators such as the financial supervision commissions on Vanuatu or the Seychelles, Belize regulatory regime is quite liberal and is still far form the standards set by well respected financial watchdogs like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

Among other requirements FCA and CySEC regulated brokers have to participate in clients compensation schemes, under which traders can receive part of their capital back, in the event their broker is unable to pay.

With FCA brokers that sum can reach 50 000 GBP, while with CySEC brokers the insured amount is up to 20 000 EUR.

Arotrade deposit/withdrawal methods and fees

Arotrade accepts a variety of payment methods including e-wallets like PaySafe, Neteller, Skrill, WebMoney, QIWI, Yandex and AstroPay, bank wire and major credit and debit cards like VISA and MasterCard.

As we mentioned the minimum deposit requirement is 250 USD, but rises up to 25 000 USD with the premium accounts. Have in mind that Arotrade charges 3,5% service fee on all withdrawals.

How does the scam work?

Although scams could be quite diverse, the most widely used scenario goes like this:

You will happen to watch a video add on one of those robo scam websites like Bitcoin Revolution or Bitcoin Method, that will tell you how easily you can make a pile of cash, if only register and invest with an innovative trading app or software.

After leaving your e-mail and phone, you will be transferred to the page of a unregulated, offshore broker, where you will be invited to deposit just 250 USD and start making money right away. Your first trades might prove to be quite successful. That, however, will happen not necessarily because you have made great trading decisions, but simply because your account will be manipulated.

And then you will receive a call from a “senior account manager”, who will explain, that if you want to make some real cash, you simply have to invest more – what about 10 000 USD for a start. Chances are you will invest those money as well.

In the beginning everything will look fine and you may even continue to “profit”, until the day you decide to withdraw some of your cash. It will suddenly turn out you can not. Withdraw conditions will be linked to some minimum trade volume requirement and most probably to the welcoming bonus you have accepted, when you opened your trading account in the first place. Of course, it could be something else, but the bottom line is you will not be able to withdraw anything.

Be aware that at some point the scammers will try to trick you to send them copies of your ID and a proof of address (your latest electricity bill for example). They will say they need those documents, because of the anti-money laundering regulations. The truth however is, if you send them personal information voluntarily, they will have a much stronger case, when you file for a charge back with your credit card company.

Also, do not be fooled to install Team Viewer under any circumstances. Scammers may try to trick you to do that under the pretext to help you with the installation of some software or with the funding of your account. If you install the program, you may be sure bad guys will get to your credit card number and online banking password and will try to steal money form your bank account directly.

What to do if scammed?

Finally, if you have fallen victim to a scam, immediately file for a charge back with your credit card company. Note, you will be able to do that only within the first six months after you have made the deposit.

If by any chance you have given away your credit card number or banking details, or if you have agreed to install Team Viewer, immediately block your credit card, delete Team Viewer and change the password for your online banking service.

In the unfortunate event you have lost money to scammers, do not loose even more by seeking the service of the so called recovery agencies. You will simply be asked to make an upfront payment and basically that will be the end of the story.

Rich Snippet Data
Review Date
Reviewed Broker
Arotrade
Broker Rating
11stargraygraygraygray

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65 Comments

  1. i have also just been scammed they are giving all sorts of excuses not to give me a refund

  2. I lost alot of money trading via arotrade. My advise to you – Withdraw/leave! as soon as you can. Do not listen to any ‘potential trade opportunities’ advice.

    1. Hi Lawrence this is rethabile I hope you can read my story about arotrade.i have just deposited my last my 250 and please I need to withdraw immediately what do I do? Please reply

      1. don’t send your document to verify. they will use your credit card to charge back more. Finally they say you click”terms and condition”. bad luck. report to credit card company to report the unauthorized transaction

        1. ZAP, should i do if sent those document to verify? Should i block my card and report to the police. I will left once they verified my account. Because as per them they said have to verified account in order to close the account? Is it true?

  3. For those who have been scammed,please lodge a police complaint with your country police.They will liase with Interpol and do the needful.I have lodged a report after loosing 6000USD in a matter of few days.The investigation is still going for two months now.Please lodge a report and pass on the message to all the victims.

    1. I received call from by a women fronm arotrade yesterday 29/11/2018. And they want me to join with them, but i refuse to do that

    2. Bro Aravind M, are you from Malaysia?

    3. i closed my trade and still have usd 2100, now i want to withdrawal it, they said its will reflecks to my bank account in 5 business days with wire transfer, still wait and today is 8 business days already..

      1. bro hisam did u get ur money back?

        1. Hi ken, are you from Malaysia and has made an investment with AroTrade?

      2. Hi, Hisam. How long it takes to approve the withdraw?

  4. Don’t deposit any money with Arotrade company. they are scammers.. they stealing money

  5. i had a bad experience with arotrade they are true scammers

  6. Mduduzi Alex Mhlongo

    Arotrade is recruiting to trade with them. Can I have an advice please

  7. Alfred Mafuyekwa

    Thanks for your advice good people. Me I was contacted by Mr Sean from that arotrade company for 4 months now saying that I must deposit 250 USD and i Will get a bonus of 250. I was going to deposit it today but I thank God for getting this advice.

  8. Arotrade trading platform is too transparent, those people in Arotrade know what you doing and they can manipulate your trading platform system. In other word say that you investment for ‘buy’ on that day should gain profit after the the market value is above your open rate but due to some reason you still not gain any profit until your final you lost your money. First thing you should know, when you have opened your trading account they will call you asking you immediate to trade and get some money even though you refuse bcoz you need more time to learn about online trading and you like to go for demo account. I am telling you that, they will do by force asking you to do trading directly and earn money quickly and saying that they will guide you time to time. In online trading you yourself will have to do all the work and give full commitment on what you have trade. This is truly SCAM.

  9. I hv just been cheated of $54k usd. They keep asking unto to up n when they ask me to buy in any trade, it will just keep going down!! N they would say its market correction. Must hold out. N the stupid account manager Kristy Leroy keeps asking me to top up n when I refused she would call n start shouting at me over the phone that I am not listening to her! She caused me a lot of losses!! This is really very upsetting! I lost so much money n still they date to scold me?!??! What nonsense??? N I’m trying to withdraw my last bit of whatever $ I hv left and they are making things so difficult! Says need account manager to verbal approve my withdrawal?!!? Who r they to decide if I can take out my money or not?!? It’s my money!!
    I want to bring them up to the Bulgaria authorities. Anyone can advise how we can get them? I know my money is gone! How stupid of me to trust them? But I want justice done n I don’t wish to see more n more people being cheated!!! How can this company do this?!??!!

    1. Dear Faith – I am so sorry to hear your story – there are so many of scams going around – but this one takes the cherry on the cake. They are a bunch of cheaters and I have had the same experience with them – until I send Paul Trumen to hell and back yesterday. May they all make a turn there very quickly!!!

  10. I have been cheated too, the other day this account manager told my girlfriend to mind her own business when she asked what happened to the previous manager who is apparently not known, caused us 250usd. now they convince me to make up for the money I lost. what a scam

  11. I too received call from an unknown +504 number upon creating an account with Arotrade. I told them i want to explore what Arotrade is all bout first. They tried to convince me to provide credit card details for $250 investment. That’s when i felt something not right as they are asking for immediate investment. I cut the call off. phew!

    1. Hello same thing, they still call me using different number can help how to deactivate the account

  12. What a real scam is this Arotrade they took my 250usd and transaction was done immediately on the spot and just after finding out the reviews I quickly told them I’m no more continue with them I need to be reimbursed back my money and the lady called emmma told me I can not get back my full 250usd because there are charges from the company and I have to follow up procedures and believe I did all of those bullshit procedure but still haven’t got my money back.PLEASE DO NOT FALL FOR THIS IT IS A REAL SCAM

    1. Lots of complains.. very bad and big scam. Very bad company…

    2. Angeline Chin

      Yes I encountered the same also now I am trying very hard to withdraw my money but the account manager named Emmma said need the approval from and she insist me to invest continue do trading only she will release my invested money. She is threatening me right now. Everyday called me at least more than 10x times per day very irritating. I just want to get back my balance from the trading account and close the account why is it so difficult? Anyone can help to recommend me any debt recovery agent? Sincerely and faithfully assistance is required.

  13. I just signed today and from the conversation i had with 2 different people i knew it was a big mistake this is Fraud in big F. Had like 8 mails asking me scan and send my ID,credit card and bank statement of my home or electricity bill …. this is big time fraud. I went to their site try to withdraw the amount i just put 1h before and it show account not valid. Anyone know how get his money back.

  14. They will take your money! Don’t get fooled by “trading opportunities”. You deposit – trade – loose your money – guess where your money stay: with AroTrade.
    They are a non regulated company. No money guaranteed.
    You can report them to the Belize financial commission. IFSC. Submit a complaint here: https://www.ifsc.gov.bz/contact-us/

  15. Oh my god I just invested more then 1000 dollars with them. How c as n I get back my money

    1. submit a withdrawal request. you can see the withdrawal button in the platform. i just did the same…

      1. I don’t see any amount to withdraw even if my balance still 500

    2. Thabang William

      Hi there
      Did you get your money back from arotrade.

  16. i am from Singapore and work in financial services. this company is no-where regulated. they have an offshore license which means nothing. total scam.

    1. How and where to report this scam and is there any chances of getting back our money, at least half of the invesment.I have invest USD 5000.00

      1. Please don’t give them a single cent I lost over 140k usd.

  17. Martin Williams

    I was alsom scammed up to the point of platinum and I think I got $645 back of $25000 . How can I retrieve any of the money. This took place when I refused to deposit more money to move to the black account, I was directed to a junior trader and he made me lose the remaining $17000 I had left after margin calls which first the senior trader suggested I do and as soon as she put me through to the junior trader he made me close positions which caused the margin calls after which I deposited another $3000, but all was lost by the next morning and I was left with the $645.

  18. I am South African. There are no senior or junior traders here. THIS IS A SCAM TO TAKE YOUR MONEY. Make a complain here: https://www.ifsc.gov.bz/?page_id=48

  19. This is a total scam!!!!!!!!!!!!!! the company’s official name is SPEED SOLUTIONS Ltd. AroTrade is their trading name. I lost $5,000!!! i just submitted a complaint to https://www.ifsc.gov.bz/?page_id=48

  20. I made a €250 deposit last week and now I’m reading this reviews. I don’t care about the €250 but do you recommend to just stop with arotrade and ignore all the calls and e-mails? I already blocked my credit card account and hope they don’t try to charge me anymore. I didn’t send them the varification documents, so what happend next? What should I do? Thanx for any advices.

    1. i suggest you ignore their calls. they will find all sort of excuses to call you…did the same with me …they will ask you to upload your documents which is fine but they will ask you for a withdrawal verification call which is against the law!!! does your bank call you when you go to an ATM and make a withdrawal? i recommend making an official complain to http://www.ifsc.gov.bz/?page_id=48

    2. I just quit by email and they gave me my deposit of €250 back. Indeed they charged €30 due to administration fee which is actually not okay but in order to all those problems to the deletion of my account totaly okay and I’m happy that the madness has stopped. For your advice, I loaded my deposit by creditcard what was probably the reason for an easy refund without verification of my person. Good luck guys!

      1. How you cancel and get back the deposit? Just send them the email that you would like to cancel the trading and they responded nicely or how? please advice.

      2. how did u email for cancelling without verifying ur account??… pls explain

  21. I also registered with Arotrade,they kept calling me to deposit $250 and I refused. I asked them if they have an office in SA. Please guys to avoid being scammed – Verify the broker first, request for their license, with that license number please check with their provider to see if they are indeed registered. If you are in South Africa, please trade with the local brokers- at least they have a fixed address- where you can go to their offices and toyitoyi and report to the police. You will surely get your money back. I can recommend the good one in SA if you contact me offline.

    1. Which one legit Cindy?

    2. Can you give me a good broker name in south africa please

    3. Hi Cindy
      Can you give the South African broker as I was this close to deposit with arotrade
      Puseletso

  22. Hi nite nite well boy I was scammed my money too how do I make a report I”m from Trinidad and Tobago these people are the worst taking people hard earn money I was scammed $500 us dollars

  23. Thanks God… They were just talking to me now. But the lady was insisting to get my credit card details, I gave her many excuses like I will talk to my husbands and friends, I need to read more, I need to think about it, but she was really insisting to have the credit number before any thing. Here, I felt there is something wrong.

    1. Im already giving my credit card details but im not deposit the money yet. What can i do to cancel this trading or maybe protect my credit card?

  24. Hello i just scam this arotrade how can i back my money

  25. Stay away from AroTrade scam! Make a complain to the authorities
    http://www.ifsc.gov.bz/?page_id=48

  26. Was about to make the bad decision…thank God, i read this first.

  27. You will never see your money again with AroTrade. I have lost $5,000, put a lawyer to do an investigation, we found out the company is registered somewhere offshore. Scam. Scroll down to the bottom of the page, you will see their details, you then can report!!!!! Big mafia!

  28. Please can some one advise 02 April,2019 I have lost USD 26000 by Arotrade scam . I have complained to credit card company few amounts on hold by bank. How can i get back my hold money please advise . DO i need to shut my arotrade account . DO i need lodged a complied to legal . Can some one guide me how to get back my money

  29. Make a complain to http://www.ifsc.gov.bz/?page_id=48
    this is the authority which their company is registered

  30. Someone called me today to explain everything about AROTRADE for me,infact I was fully convinced not knowing they are scammers. Tnks so much guys for reviewing the secret about them.

  31. Stay away from AroTrade scam! Make a complain to the authorities. Follow the link. Their company is called SPEED SOLUTIONS Ltd. AROTRADE ITS JUST A TRADING NAME/BRAND!
    http://www.ifsc.gov.bz/?page_id=48

  32. This is a scam. I initially invested $250 to start trading after a lot of calls from account manager and he convinced me to invest . Now after my investment, l received a call again to invest more and that they will give me 100 Percent bonus . Then l invest $3000 again . All the money is lost, l never thought someone could scam me of my money . I regrets that this happened to me .Now l cant withdraw any amount my your account. Please dont believe the account manager when he says you can transfer to them and immediately withdraw. Consider your money lost once you transfer it over. I tried withdrawing profit as well as initial investment. Both were unsuccessful. The account manager (freddy.lee)is no longer in contact anymore and also no reply from their billing department. All the money l invested in their website was lost . To have lost $3250 to scammers is the biggest mistake l ever made .

  33. It’s totally a scam, I invested for opening an account with USD 250, auto trade function with Bitcoin Profit, I provided my ID, and Credit Card details. What my decision after reading all review from here:-

    1. Call my bank and block the card for replacement together with the online account. Cut all the possible connection between bank and them
    2. Withdraw current balance in Arotrade, which USD 200 – USD 30 fees = USD 170+/- .
    3. Awaiting Account Manager to verify the withdrawal process (Will act as still don’t know anything)
    4. Don’t even committed to anymore investment amount
    5. Not estimate to get back the money (luckily it is just USD 250, and learnt a bad experience) never ever trust investment from internet, gdmf!

    1. Shuhaib muneer

      can you help me. i Already deposit $1500. how can i get the money back from this people.

  34. This broker scammed me $3000 . From May, 2018 they never give me withdraw! Beware of this broker. Please do not deposit your precious money here. If you do so I guarantee you’ll loose all.

  35. It is Big Scammer AROTRADE be aware..scammer scammer u are all burn to hell.

  36. Hello every one.. I was getting calls from Arotrade agent named Andrew Scott he is insisting me to deposit the amount of 250 US dollars and start trading and earn from the next minute and I was going on giving him excuses for not depoaiting… now after reading all the reviews I thank all people here who has taken the time and saved me from thi fuc**** scam by Arotrade… thank a lot guys…

  37. Stay away from AroTrade scam! Make a complain to the authorities. Follow the link. Their company is called SPEED SOLUTIONS Ltd. AROTRADE ITS JUST A TRADING NAME/BRAND!
    http://www.ifsc.gov.bz/?page_id=

  38. I opened in April 2019 an online trading account with Arotrade. The Arotrade personnel was very friendly and well trained to manipulate people, like me. I am just a working class guy, earning money from real working, while Arotrade is working different, they just want to screw you.
    I started to do my own bids and I was successful, accepting profits of around 500 USD. Then I received a call from David Morgan, introducing himself as my Arotrade account manager and he give me some recommendations, which worked out at this time. Later, David Morgan recommended to place bids (mostly currencies) and they got stacked for weeks, as all of the currencies went the other way around. Later, David recommended to place bids into selling silver, but immediately after placing the bids, the problem started, the trading went completely the other was around for two bid (7,000 and 15,000 USD). I received call from Arotrade (different people, but using the same arguments) to add more investment, I did add some more money and then, I did not have more money, because I did not even wanted to put all my savings into risk, but I still did spent the money in the hope to save my investment. Arotrade did not provide any risk management consultation, because Arotrade is making their profit, if I loose or win, they don’t care at all. Arotrade could have saved at least part of my investment by performing risk management, but Arotrade did not care at all.
    I tried once to withdraw money at a time, where there was still money on my account, the Arotrade billing department informed me that they need first the approval from the Arotrade account manager and thereafter 3 to 4 business days more to process the withdrawal, Arotrade was aware that I am loosing and so, they delayed and later canceled my withdrawal request, another smart move.
    Arotrade used the tactics that in case the account manager could not achieve to get more investment from me, another Arotrade employee called me, to tell me that he/she is now the one to save me, but only asking for more investment.
    Based on Arotrade’s recommendations, I lost 80,000 USD last night.
    I hope that Arotrade’s employees are happy that they meet their company’s goal, that they received their bonus and that the destroyed another life. Well done and I hope that they are knowing how to make their money by srewing honest peoples, I hope what goes around comes around and that Arotrade personnel will experience this in their own life.
    Please, don’t use Arotrade in case you are earning your money in a honest way which means that you have to work for your money, Arotrade will just take it away from you.

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