Beware! AntariGroup.com is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
AntariGroup.com comes with a decent website, we give it props for that. In reality, the website is nothing more than a cover-up operation to conceal what really is going on. The truth of AntariGroup.com, and hundreds if not thousands of broker just like it lays in the details. Luckily for our readers, we are experts at scrutinizing the very last minuate, and as such present you a review of AntariGroup.com in which we have revealed the most crucial aspects that one must consider before investing in it, if at all! Please read on.
The process of registering was a mess, and not visually but operationally. It kept giving us errors, and then after a couple of attempts, it said that both our user name and email address were in use, which would logically mean that we had registered without knowing.
However, when we tried logging in, to our genuine surprise, we entered a user area. The client portal itself was nothing special and was on the sloppy side of things, but at least AntariGroup.com has one.
We easily accessed a lackluster trading platform and were able to read of it the following available trading assets: forex currency pairs, stocks, indices, commodities, and cryptocurrencies. The EUR/USD spread was 2 pips on average, which is just the right amount before things start getting unfavorable to traders. The leverage is capped at 1:500, and 1:1000 for VIP users. Note that high leverages can be dangerous!
The website of this broker can be accessed in English exclusively.
ANTARIGROUP.COM REGULATION AND SAFETY OF FUNDS
The one thing of importance that we learn is found right at the bottom of the terms and conditions where we learn that the parent firm – AntariLLa Management Inc – is located in Seychelles. The Seychelles Financial Services Authority (FSA) is one of the most important offshore regulators, and it does take FX regulations more seriously than almost all other offshore FX overseers. It does not regulate AntariGroup.com, and so the broker is operating in the nation illegally.
Next on our agenda is the footer. AntariGroup.com comes with a long footer where we learn only one thing of importance.
This clause states that users will have to check if the broker is regulated in their own jurisdictions, which is the most common way of saying that the company is not licensed. The assertion is confusing, and self-contradicting, but is smart in that it can fool users.
Finally, AntariGroup.com is officially blacklisted by the Financial Services and Markets Authority of Belgium, which acts as the last straw to our list of reasons all stating the same message: the broker is UNLICENSED, and a risk to all investments!
To deposit in an unlicensed broker is the equivalent of throwing your money away for no reason. We always say that the first thing to do when dealing with any broker is to check for a license; this should be your priority! Usually, we would go for either an FCA or CySEC regulated brokers or other respected overseers. These regulators all employ harsh rules and impose very severe penalties on those brokerages that do not abide by the scrupulous rules. Furthermore, some agencies, like the FCA and CySEC, include reimbursement schemes to all users of brokers under their wings. These compensation funds schemes, as they are called, are put into action once broker cannot pay their clients back to bankruptcy. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
ANTARIGROUP.COM TRADING SOFTWARE
There is nothing special about the web trader provided here. It’s just another scammer broker one.
For some reason, the platform was incredibly laggy and thus very frustrating to use. As you can see from the snip, our user name had not been loaded up after the page had been opened for more than an hour. Not to mention that the charts are provided by the notorious TradingView, a third-party chart provided that does nothing but create an alluring illusion.
ANTARIGROUP.COM DEPOSIT/WITHDRAW METHODS AND FEES
Once we logged in, we could get a hold of the real payment conditions. Or so we thought until the payment area produced an error message.
So all payment info is taken from the website. The minimum investment requirement is €250, and the payment methods are not really revealed anywhere. The terms and conditions hint at cards and bank transfers, but this is as far as the info pool goes.
We find a very small section in the T/Cs claiming that both deposits and withdrawal are issued fees. What these fees actually area has not been disclosed. Withdrawals are processed within 3 days.
Overall, the payment info is limited and untrustworthy. The latter can be applied to the broker as a whole! Do not invest here!
How does the scam work?
The straightforward way into an investment scam is through the thousands of online ads that flood our browsers and social media sites. These are those familiar ads that promise impossible returns and luxurious lifestyles as a result of investing.
Succumbing to such ads will lead to either the scammer investment site, or to an intermediary source with close ties to this and other fraudulent websites.
In either case, the user will be asked to provide a phone number and probably an email address. The purpose of these is for the reps of the scam to be able to contact the client and push for initial investments. This is the first wave of the fraud, and is usually done by the rookie team.
The second wave is the pros, sometimes those behind the whole scam. These are charming and cunning individuals, whose communication skills can potentially result in the users to invest a second, or third, or even fourth time.
Basically, the scam continuous until the client realizes that she is being scammed. At that moment, when she wishes to withdraw or has questions for the scammer, it is already too late.
The culprits will easily ignore all requests or stall them. There are times when unlicensed brokers even terminate entire accounts, and on rare occasions entire websites are closed!
What to do if scammed?
The safest way to get your money back is to file for a chargeback using your credit or debit card provider. MasterCard and VISA have a chargeback period of 540 days. However, this only applies if you have deposited through a card.
Wire transfers are more difficult to reimburse, although some banks may have a specific plan for such times, so we advise users to directly contact their banks and ask them for help. What’s crucial is for users to change their bank account user names and passwords as soon as possible.
As for any funds invested through a cryptocurrency wallet, be sure that they are lost! Crypto transfers are untraceable!
And finally: never trust recovery agents or agencies. These are fraudsters who will ask for money in return for nothing. Do not trust these!