Auto Premium Trades review – 5 things you should know about

Auto Premium Trades review – 5 things you should know about

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Beware! Auto Premium Trades 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.


Auto Premium Trades tries to convince us that it represents an award-winning and globally recognised forex and CFD broker. This is a typical online scam, illegally using the details of a legitimate company. The purpose of this website is only one – to cheat inexperienced people out of their money. Let’s take a detailed look at why it’s in your best interest to stay away from Auto Premium Trades.


The most important information about a financial services provider is its regulatory status. Licensed brokers provide detailed information about which company runs them, where it is based, which jurisdictions it is authorised in and which regulatory bodies oversee its activities.

On the homepage of this website we see two statements. One is that the owning company is called Auto Premium Trades Limited and is based in an offshore area – the Seychelles.

But this company cannot be found in the Financial Services Authority of Seychelles database. There is no evidence that this legal entity actually exists.

The other claim is that Auto Premium Trades is a trading name of TopFX Ltd, a company licensed in Cyprus. But a check of the Cyprus Securities and Exchange Commission (CySEC) registry shows that TopFX uses a different domain.

We have also come across other bogus brokers illegally using the registration details of this Cyprus company – for example, Live Capitol and Optionstradefx.

Licensed companies are also required to provide a comprehensive set of legal documentation. Auto Premium Trades does not have Terms and Conditions, Customer Agreement or Privacy Policy. We have no way of knowing exactly who we are dealing with and what terms we are agreeing to when we register for an account. Under such circumstances, it would be an obvious mistake to put our money on the line.

Instead, it is advisable to approach one of the licensed brokers that are truly regulated by institutions such as CySEC.

There are many advantages to working with such brokers because they must comply with all the requirements of the European Securities and Markets Authority (ЕSМА). They must maintain a minimum net capital of at least EUR 730 000, which guarantees that the company is financially stable and has a serious long-term approach. When clients deposit money in their trading accounts, they are kept segregated from the broker’s operating funds in separate bank accounts. Thus the clients’ money remains shielded in case of mishaps like a broker’s bankruptcy.

All brokers licensed in Cyprus and other EU countries are members of the Investor Compensation Fund, which may cover a maximum of EUR 20,000 per person in the event of broker insolvency. EU forex brokers are required to report their clients’ transactions on a regular basis. This requirement is designed to improve investor protection and promote market integrity and transparency.


The Auto Premium Trades website mentions the advanced trading platform cTrader, but the links to download the software are not active.

After signing up for an account, we only get access to a very poor imitation of webtrader with a non-functional menu for placing orders.

But even if Auto Premium Trades had a more convincing platform, that would not make this website credible. Fake brokers use trading software to mislead their victims that their money is really being invested. But this trade is entirely sham.

If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used trading platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.


The website claims that Auto Premium Trades offers trading with raw spreads close to zero and a very low commission of 2.5 USD per lot. But this information is copied from the website of the real broker that Auto Premium Trades imitates. As we have seen, Auto Premium Trades does not even have proper trading software.

Auto Premium Trades  also claims to offer leverage up to 1:500. This is further evidence that this website could not truly represent a broker operating in Cyprus.

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The European Securities and Markets Authority (ESMA) and accordingly all EU regulators limit leverage to 1:30 for major currency pairs, 1:20 for non-major pairs, gold and major indices, 1:10 for other commodities and non-major indices, and 1:2 for cryptocurrencies.

When you visit the website of a legitimate broker you will find proposals for different types of trading accounts suitable for investors with different preferences, as well as detailed descriptions of trading parameters – minimum deposit, order execution method, tradable financial instruments, leverage, spread, swap, etc. Many leading companies in the industry allow you to start trading with a very low initial deposit, often under 100 USD.


Auto Premium Trades only allows the deposit of funds via cryptocurrencies. This is typical of financial fraudsters. They prefer crypto transactions because they do not allow the defrauded to request a refund.

While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet  withdrawal terms.


Many people are looking for ways to make money passively, but do not have the necessary knowledge to invest in the financial markets themselves. This makes them a target for the many online scammers posing as brokers. If you come across some of them and give them your contacts, you will be contacted by skilled scam artists who will assure you that they can take on the incomprehensible aspects of investing for you. You will only be required to invest and take profits.

But when you try to collect even just a fraction of your money, it will turn out to be impossible. Your supposed profits will suddenly evaporate, or you’ll find that you have to meet impossible traded volume requirements first. Fraudsters often insert huge withdrawal fees into client agreements amounting to 10%, 20% or even more. You won’t be able to hold scammers accountable because they hide behind fake names and shell-companies offshore. Scammers also typically use non-refundable payment methods.


First of all, you should be very careful not to fall straight into the clutches of other scammers. Another common scam is to promise money recoveries from fake brokers for an upfront fee.

If you used a credit or debit card for the transactions, you can charge a chargeback. Visa and MasterCard have a long period in which they allow such requests – 540 days. But keep in mind that fraudsters can dispute if you have provided them with a copy of your ID and proof of address. It would also be helpful if you alerted the authorities in your country and other people online to the activities of the scammers.

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