Beware! Apex-Marketintel is an offshore broker! Your investment may be at risk.
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Apex-Marketintel is a website aimed at people looking for “stable, reliable, guaranteed weekly income”. But Apex-Marketintel’s goal is not to provide its clients with that kind of income, which sounds too good to be true. This website is actually designed to scam people who are looking for passive income but lack experience and knowledge of the financial markets. In this review, we will look at how to recognize such scams and how to choose a trustworthy broker.
Apex-Marketintel Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
If a financial services provider is legitimate, you will find on its website clear and detailed information about the company that owns and operates it, where it is based, and what licences it has. Genuine brokers also provide access to a comprehensive set of legal documentation. The availability of such information does not guarantee that it is not false or misleading. But the absence of these elements is very indicative that in all likelihood you are dealing with scammers.
Apex-Marketintel does not disclose which company is behind the website and does not provide access to Terms and Conditions or Customer Terms and Conditions. If you don’t know exactly who you are dealing with and what terms you are agreeing to it would be a clear mistake to put your money on the line.
The website lists a contact address in the United States, which is undoubtedly false. Such an anonymous website could not legally offer financial services in one of the most tightly regulated jurisdictions in the world.
If you have decided to invest in financial instruments you have a choice of much more trustworthy options. Depending on your location, it is advisable to choose a company that is regulated by an institution such as Commodity Futures Trading Commission (CFTC) in the US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).
Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds. In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.
Apex-Marketintel Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
After registering an account, we gain access to a supposed trading platform, which turns out to be a non-functioning imitation of trading software. It is not even an imitation of a forex trading platform, but one for binary options trading, a type of trading that is associated with numerous scams, which is why it is banned or heavily restricted by most financial regulators.
Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used 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.
Apex-Marketintel Trading instruments
Apex-Marketintel claims to offer trading in cryptocurrencies, indices, forex, energy and shares. But as we have seen, this website has neither the legal authorization nor the software necessary to do so.
Apex-Marketintel Spreads and cost of trading
Apex-Marketintel promises very low spreads, but we have no reason to believe that this blatant scam offers real trading.
Apex-Marketintel Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
On the homepage, we see claims that Apex-Marketintel offers very high leverage up to 1:1000 for forex and 1:100 for cryptocurrency trading.
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. Higher levels of leverage are only offered to professional clients who trade entirely at their own risk.If you are willing to take the risk of trading with high leverage and benefit from bonuses and promotions, the best option is to invest through an offshore division of an established brand.
Apex-Marketintel Deposit and withdrawal methods
|Deposit time||Withdrawal time||Price|
|Crypto||24 hours||24 hours||Fee depends on crypto|
Apex-Marketintel promises over 20 payment methods, but again this does not match the truth. In the deposit options we see only cryptocurrencies.
Scammers prefer cryptocurrencies because these transactions are not subject to refunds. Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.
If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.
Apex-Marketintel Minimum deposit
Apex-Marketintel requires a minimum deposit of 500 USD. For a significantly lower amount, you could open a trading account with a genuine and duly licensed forex broker.
Apex-Marketintel Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Apex-Marketintel||Not specified||Not specified||Not specified|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
Since Apex-Marketintel does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.