Aries Trades review – 5 things you should know about ariestrades.com

Beware! Aries Trades is an offshore broker! Your investment may be at risk.

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The Aries Trades website looks very familiar to us, but not because it is the established forex broker it claims to be. The reason is that Aries Trades  is almost identical to other suspicious websites we have reviewed, such as Btrades. In this review, we will show you in detail why it would be a mistake to trust Aries Trades with your money and how to find a legitimate broker to invest through with peace of mind.

Aries Trades Regulation and safety of funds

The first red flag that we’re dealing with a fraud is Aries Trades’ complete anonymity. The website does not list a legal entity name and does not provide access to Terms and Conditions and Client Agreement.

When you visit the website of a legitimate broker you can expect to find clear and detailed information about the company that owns and operates it, where it is based and what regulatory regimes it is subject to. Licensed financial services providers are also required to provide a comprehensive set of legal documentation.

Aries Trades claims to be based in the United Kingdom.

However, a check of the local financial regulator’s register reveals a warning to investors that Aries Trades is not licensed.

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK.

Aries Trades Trading software

After registering an account we did not get access to any trading software. Aries Trades does not appear to have the technical capacity to provide the services it claims.

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).

Aries Trades Trading instruments

Aries Trades claims to offer an odd mix of financial services, including forex and binary options trading.

As we have seen, Aries Trades does not have the license or technological capacity for this to be true. Binary options is a very simple way to trade the financial markets, but it is this simplicity that makes it prone to scams and exploits. Binary options trading is banned in a number of major markets, including the UK.

Aries Trades Spreads and cost of trading

Legitimate forex brokers offer a variety of trading account types tailored to the needs of clients with different capital and investment intentions. These brokers also provide clear and detailed information on trading parameters – leverage, spread, commissions, order execution method, etc. Instead, on the Aries Trades website we see promises of guaranteed daily returns.

A genuine broker will not and cannot promise you guaranteed profits. In fact, licensed companies are obliged by regulators to warn their clients about the high risk of losses when trading financial instruments.

Aries Trades Maximum leverage

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 FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders. If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Aries Trades Deposit and withdrawal methods

The Aries Trades deposit menu was not available for non-verified accounts. But we are willing to bet that Aries Trades uses only crypto transactions. Scammers prefer cryptocurrencies because these transactions are not subject to refunds. 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.

Aries Trades Minimum deposit

Aries Trades requires a minimum investment of 100 USD. For the same or even lower amount you could start trading through a licensed and established forex broker.

Aries Trades Withdrawal requirements

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.