Beware! Azimuth Trade 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.
Azimuth Trade’s biggest pro is its looks which also act as a luring device for novice users. Make no mistake; Azimuth Trade is a risky broker and an unregulated one. Just read the review to find out how bad the broker really is, even if it does not look like it.
AZIMUTH TRADE REGULATION AND SAFETY OF FUNDS
Despite the website visuals, which do seem well adjusted to lure users in, Azimuth Trade is very low on legal information. When we say low, we mean that there is absolutely nothing to tackle, no legal information, and no contact details. Usually, when it comes to this, we stamp the broker with an “anonymous” label and move on. But that would be irresponsible, because to be anonymous is to be incredibly risky, even more so than your typical scammer broker.
Anonymity is synonymous with unregulated and the lack of honor. Not only are anonymous brokers completely untraceable, but they are all illegal and unlicensed. No regulator would tolerate such behavior.
We always claim that anonymous brokers are the most dangerous bunch because they allow themselves to behave in any way they see fir to serve their purpose. And that purpose is, of course, to misappropriate as much money as they can get away with stealing.
In other words, Azimuth Trade is unregulated and a risk to all. To make it all just that much worse, we found an official warning issued by the National Securities Market Commission of Spain, the main regulatory there, and one of Europe’s finest. It’s obvious now that Azimuth Trade is a scam and a risk to all investors.
Illegal and unregulated brokers spell trouble every single time! They have nothing to offer, unless you count heartache and frustration. These companies are created and run as elaborate scams (not all of them) and they are short-lived as a result of complaints and regulatory actions. But in between the creation of a scam and its downfall many users will lose their money with very little chance of a refund. This money will be redirected to various offshore and untraceable accounts and will serve the scammers to fund their own lavish lifestyles and future scammer projects.
So, really there is no reason to invest or even interact with unlicensed brokers. If you want to experiences the real FX trade, then look no further than any European, UK, US, or Australian-based brokers. These are regulated and fair institutions that treat each customer with care and respect.
AZIMUTH TRADE TRADING SOFTWARE
Azimuth Trade offers its traders a common web trader offered by a ton of other scammers, making thins software quite useless and overused. We have talked about this one hundreds of times in the past, and its looks aside, it really is not worth using it, especially considering how scammer Azimuth Trade is.
Aside form some basic features, users won’t have much to do here. It’s kind of sad, because we do find some potential in the web trader, but we are yet to see it being used by a majority of legit brokers. At least 95 percent of its users are scammer brokers.
For now, our readers should stick to either the MT4 or the MT5, the world’s top trading platforms.
AZIMUTH TRADE TRADING CONDITIONS
Azimuth Trade offers a common registration and user area template that is very popular among the scammer broker community. Using such templates cuts a scammer broker efforts by a third at the least, making their thieving jobs even easier.
From the web trader we got a EUR/USD cost of trade of 3 pips, which is in no way appropriate for any broker to offer because it is not lucrative to users in any way.
The available financial instruments are forex currency pairs, cryptocurrencies, commodities, shares, NFTs, and indices, and the maximum leverage available to users is capped at 1:100. But still the broker remains untrustworthy; check these high leverage brokers instead.
AZIMUTH TRADE DEPOSIT/WITHDRAW METHODS AND FEES
The user area reveals that the minimum deposit requirement is $250, which is quite a standard one, but is actually beginning to get outdated with more and more broker offering lower deposit requirements. Of course, here we refer to legitimate entities, not scammer ones like Azimuth Trade.
The available payment methods we saw were credit cards and a bunch of cryptocurrency wallets. We remind readers that investing in scammer via a crypto wallet leads to an untraceable transaction.
Furthermore, there are unrevealed withdrawal fees, plus additional fees, none of which have been undisclosed, meaning that they might be launched at any time, at any price.
Azimuth Trade is a scam and a risk to all.
How does the scam work
For years now the scammer process has been, more or less, based on the same simple principle: that of solicitation. Of course, users can also stumble randomly on a scam but this happens very rarely.
Scammers rely mainly on exaggerated advertisement campaigns and phishing tactics, that is to say cold-calling techniques, to recruit their users. On the ads front, users are lured with very striking online ads about unbelievably lucrative opportunities for investments accompanied by imagery of luxury. The client is prompted to provide a contact email and a phone number.
The contact will be established in either case, and the user will be lied to and manipulated until he or she is lead to invest. If you fail to be succumbed to the broker’s sweet talk at some point the representative will stop calling you. But until then, you will be surprised as to the exhaustive repertoire of deceits and lies these scammer have. Essentially, they will try everything to convert you to their shady cause.
A users who has invested will be prompted to deposit at least one more time, but this time a larger sum with allegedly higher chances of hitting it big on the trade game. Obviously the illicit firm in question is making all these claims up; most of them don’t even have trading software!
The time will eventually come when the client will feel cheated, but by then it is usually too late. The broker will either cut all contact with the user, shut down its site, or simply stall the withdrawal request indefinitely.
What to do when scammed
The safest bet at getting your money back is to file for a charge back with your credit or debit card provider – the chargeback period for MasterCard and VISA is 540 days. However, this can only happen if you have invested via a card, or an e-wallet supporting card payments.
Bank transfers are way harder to trace, and the only hope you have is to call the bank itself and try to figure out a reimbursement strategy. But there is no guarantee that this will work. What we can advise if you fall into this state is to immediately change your bank account password and username.
Then there are the crypto transactions which are untraceable and therefore lost for good. So, whenever you see a crypto based payment method with an unregulated broker make sure to stay clear!
Last but not least, we have the recovery agents or agencies which are total scammer of their own. They promise a full refund in return of a one time payable fee, and no small one at that. As soon as this is paid they will disappear without a trace.
