Beware! ApextFund.Pro 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.
ApextFund.Pro is an absolute mess and a complete scam! This so called broker is not even a broker but a simple website that solicits users, and nothing more. There is absolutely no reason to invest in this entity, and the following review will tell you why. For one, this broker is a complete copy of hundreds of past fraudsters, and that just shows you how little effort has been put into making it.
We registered with ease, and what we were met with only showcased how bad of a broker this really is, if you can call it a broker. The user area was extremally dubious, not to mention glitchy of all the time and utterly useless.
The main reason for this was the complete lack of a trading platform. There is nothing to trade with here, and as far as the trading conditions go, there are none, no matter what the broker claims on its site, which to begin with isn’t anything. There are no spreads, no leverages, and no tradeable asset.
APEXTFUND.PRO REGULATION AND SAFETY OF FUNDS
ApextFund.Pro is pretty straightforward when it comes to its legal status. It is unregulated beyond a doubt, and it does not do a good job of hiding that.
It actually excels in the nonsense it claims. We are referring to the New York address given away as a contact address, suggesting the broker to be located in the United States, which at this time and age will never happen. ApextFund.Pro here has lied completely and without remorse.
In order to be regulated in the US, that is, to be fully legalized there as an FX entity, a broker must pass through the two most notorious regulators in the world: the CFTC and NFA. Seeing as only a handful of brokers are able to keep up with their requirements, all multi million dollar companies, we can proclaim that ApextFund.Pro is definitely not one of these. So the US statement as a whole is a lie!
Finally, we cannot avoid the fact that there are no legal docs, which puts the user is the most dangerous position of all where he or she is not protected by anything or anyone, leaving the broker to come and grab as much as it wants.
Do not invest in this unregulated broker. ApextFund.Pro is a scam and a risk to all!
It would be a big shame to lose all that money to scammers. By registering and investing in an unlicensed broker, you are indirectly throwing your money away for a completely futile and illicit cause. There is no reason to do so. That is why we urge our readers to rely on European, UK, US, or Australian brokers, or any licensed entity for that matter. Licensed entitles are covered by hundreds of requirements, many of them apply financial compensation schemes, and anti fraud practices. In other words, they are the exact opposite of what this broker and others like it stand for.
APEXTFUND.PRO TRADING SOFTWARE
In the user area you will find nothing but a mess of a third party chart that does absolutely nothing in terms of trading. It looks good and complicated but that is pretty much all that it does. It serves its purpose well though; many users will take it for a legit web trader.
Without a software, ApextFund.Pro there is nothing here for users. This firm is not even a broker, making it even less worthy of your time.
APEXTFUND.PRO DEPOSIT/WITHDRAW METHODS AND FEES
From the client area we find that the user can only invest by means of a BTC wallet, where there is no minimum requirement. Just so you know, if you didn’t, that all crypto investments made with unregulated brokers are virtually untraceable and therefore lost. The ability to invest as low a sum as you want is also a part of the risk factor.
The withdrawal area reveals that there are 5 crypto wallets available to withdrawal from as well as a bank transfer option. This goes against anti money laundering rules, for the deposit methods are different form the withdrawal ones.
And that’s all the payment detail we have. There are no fees discussed which does not mean that there are no withdrawal or other fees. It’s crucial to not invest in this scammer broker!
HOW DOES THE SCAM WORK
Generally, the first step to being in a scam, whether a user is aware of it or not, is to bridge the crucial gap that exists between a user and a broker. With legit entities rarely does this go beyond the limits of formality, whereas with scammers they will try to behave as close friends, and will try to sell you as much as they possibly can.
It easy to fall prey to their sweet talk, because as financial instruments grow more complex, so do scammers, and there are surprisingly advanced swindle techniques that will leave you empty handed faster than you know. So make sure to think before you act, and to ask for professional guidance if necessary.
Contact usually begins at the online ads level, and expands to the telephone line relatively fast, depending on how good the scammer is and how susceptible he or she is to manipulations.
The ultimate goal is reached once a scammer successfully causes an initial deposit to be invested. Once this happens the user has become the victim, and from then on the fraudsters will try to retain the client for as long as possible, draining him/her along the way.
On average, it takes 2 to 3 deposits for a user to realize that something very unlawful is happening. By that point however, the broker will cut all communications with the user and will deny all withdrawal requests.
WHAT TO DO IF SCAMMED
The most common action to take is to file for a chargeback, but this happens only if the user has invested with a credit or debit card. That’s why you don’t get many investment frauds taking card payment nowadays. But the good news is that, if money was invested via a card, the chargeback period for MasterCard and VISA is 540 days.
Wire transfer deposits are harder to get back, and the only thing we recommend is contacting the bank to sort things out if possible. Oh, and make sure to change you bank account user name and password ASAP!
Crypto transactions are lost for good, unfortunately. As cryptocurrencies become more numerous and the systems underlining them more complex, scammer are taking full advantage of these aspects, and the end results are very lucrative. So, never trust unregulated brokers with crypto payments.
And then, we have to mention the other type of scammer, the recovery agents. These are either third party fraudsters or extensions of existing swindles, and will provide the seemingly impossible service of tracing your lost money. All they need is a fee for their effort, a sum of money that will be lost once paid.