AppTrader review – 5 things you should know about

AppTrader review – 5 things you should know about

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



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Warning! AppTrader is an offshore Forex broker that’s selling financial products and services on regulated markets without the proper authorisation. The fact itself doesn’t necessarily turn a broker into a scam scheme, but the breach of the financial laws means that the entity is conducting illegal activities, so yes, you have to stay away. What makes us strongly recommend that the traders should avoid AppTrader is the fact that it’s already been scrutinised by the financial authorities in Europe. Find out which is the regulator that blacklisted this broker in the full AppTrader review.


AppTrader is an offshore Forex broker that’s purportedly owned and operated by an SVG company. It’s a problem for the traders because St. Vincent and the Grenadines is one of those offshore jurisdictions that’s known for the shortage of adequate financial control. In fact, SVGFSA- the financial authority in the Caribbean island do not even issue Forex licenses, which makes the SVG brokers risky to trade with. The lack of rules and regulations means lack of customer protection, and the clients might even lose their money to scam. Not surprisingly, SVG is filled to the brim with scammers, and the absence of control is the single most important factor that attracts fraudulent enterprises.

But the biggest problem for AppTrader is that AMF (the French financial regulator that license the Forex brokers) put them in their warning list! A warning issued against is the final proof that the traders should avoid the broker that’s been blacklisted. Your funds are not safe if you make a deposit with AppTrader because it’s an unlicensed offshore Forex broker that cannot guarantee the safety of your funds. You can have a look at the warning at the bottom of the section.

Do not trust anonymous and offshore Forex brokers, but stay safe by choosing legit and regulated entities, such as the European ones because of the financial safety that they can guarantee. Many customer protection measures were agreed and implemented in Europe to make the system safe and stable for the traders. These include a minimum capital requirement of 730 000 EUR; segregation of the clients’ funds; negative balance protection of the accounts; predefined stop-out levels and other that we’ll mention later in the review. But most importantly, money protection schemes were put in place to further contribute to the health of the system.

ICF under CySEC in Cyprus and FSCS under FCA in the UK is the notable deposit insurance funds that were inaugurated in Europe. In Cyprus, you can make a claim of up to 20 000 EUR per client and in the UK the traders are guaranteed of even up to 85 000 GBP per client, in case a Forex broker faces difficulties to meet its financial obligations. If it were an offshore entity, however, it would simply disappear, and you would lose all of your investments, instead of making profits elsewhere!


AppTrader offers some web-based trading platform that’s seemingly developed by themselves. It’s a problem for the traders because such platforms are unstable and unreliable, but most importantly, these might be prone to fraud and price manipulation. Have a look at their platform at the end of this section. Beware!

We recommend the regulated MetaTrader4 or MetaTrader5 Forex brokers to the traders because MT is the best retail Forex platform available on the market and it’s free to use. It’s stable and also feature sophisticated trading tools such as Expert Advisors, Algo trading, Complex indicators and even a marketplace where the traders can buy or use for free third-party-developed trading solutions.

The EUR/USD spread is the mind-boggling 5 pips, which is exceptionally unfavourable a difference between Buy and Sell. It AppTrader a costly broker and that significantly reduce the profit potential. The industry standard is 1 pip or below, so the traders should avoid AppTrader simply because of the massive spread alone.

The leverage level is a different story because AppTrader fails to give any information about the possible levels that apply. Warning! Hidden leverage levels! We couldn’t find what the leverage is, and also there isn’t an option to adjust the ratio to your own preferences which is a major red flag to note! The leverage is important because it allows the traders to multiply the size of their position, meaning that it’s possible to enter the market with significantly less money. But the prospects come at a cost because the risk of loss increases dramatically, and if misused, the leverage might cause losses that are difficult to recover. The risks involved made EU, UK and Australia (from the spring of 2021) force a leverage cap of 1:30 on the market as a customer protection measure, while USA and Canada agreed on 1:50 as the maximum allowed ratio.


The minimum initial deposit is $250, which is in line with the offshore brokers but more than twice higher than the regulated brokers’ standards- $100 on average.

The single funding method possible is Credit/Debit card. Standard payment methods such as Wire Transfers, Skrill, Neteller or Bitcoin are not available to make a deposit, and this fact certainly limits the traders.

No minimum withdrawal requirements set and also there are no fees specified, but the company reserves the right to impose transfer fees. It’s an unfair clause because they might invent all kind of fees that they want on the run. Most of the legit brokers in comparison do not charge any transfer fees.

An account becomes dormant after 12 months of inactivity, but no inactivity specified either. In the same manner, AppTrader reserves the right to introduce fees and they even state that the traders will be informed explicitly about the charges that should be paid!

Bonuses are abundant, including Deposit Bonus starting from 30%, e-mail verification bonus, phone verification bonus and others. The Deposit bonus bounds with separate terms and conditions. It’s said that the trader should execute a minimum trading volume of 10 times the amount of the bonus in 30 days, which is yet another unfair clause! If the requirements are not met, the bonus and the profits gained will expire, which means that the traders might end up losing its time to gain profits that the broker’s going to pocket!

The traders should know that the bonuses are not free money, but a leverage tool instead, and on top of that, the requirements that bound worsen the trading conditions significantly. EU and UK prohibited the trading incentives on the regulated markets, but at the same time, the bonuses became one of the most beloved marketing tools for the scammers. So the traders should always avoid brokers offering trading incentives such as bonuses or promotions!

Last, but not least. There are plenty of negative reviews in the Android and iOS app markets, but also a complaint to CFTC (one of the US financial authorities) about AppTrader. Avoid this broker; it’s a fishy enterprise whatsoever!


A group of scammers usually operates many different scam brokers, scam websites and call centres. Sometimes they will simply rely on the quantity; they will publish tens or hundreds of websites and will wait for traders and investors with little or no experience to bite. Nowadays, it’s very cheap to create one, and it looks like a profitable strategy, as they carry on doing it.

The scam itself is a criminal activity. Mostly, the scammers are hiding behind offshore companies and brokers while trying to remain anonymous and difficult to trace. There is no or very light FX regulation in jurisdictions such as the Commonwealth of Dominica, the Marshall Islands or St. Vincent and the Grenadines, making them some of the most popular destinations for shady and illegal enterprises. Regulation means customer protection and safety! The CySEC and FCA regulated brokers are not going to pocket your money and run away without a trace left behind. The offshore brokers, on the other hand, might simply disappear tomorrow and you’ll be left with losses that might be impossible to recover. Beware!


No one is immune to scam, and anyone can fall into the trap. Scammers are always looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you necessary instructions to follow and will help you, if possible, recover your money.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!

It’s very important not to rush blindly trying to recover your funds because many scam recovery agencies and individuals are stalking, aiming to double scam the victims. These will most likely ask for an advanced payment, but will do nothing to help you recover your losses!

Share online your experience; it’s important to protect others, as well. Be responsible!

Rich Snippet Data
Review Date
Reviewed Broker
Broker Rating

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US5/5$50 Click for a special offerWebsite
USA5/5$250 Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5 Click for a special offerWebsite
Australia4.93/5$100 Click for a special offerWebsite
UK, Australia4.85/5$50 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite

1 Comment

  1. This company extorted and misused my money. It’s a dishonest company
    Ta firma wyłudziła i sprzeniewierzyła moje pieniądze. To nieuczciwa firma

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