ATBmarketsPro review – 5 things you should know about atbmarketspro.com

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

RECOMMENDED FOREX BROKERS

Visit Site

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

ATBmarketsPro invites us to upgrade our trading by becoming clients of this broker. But the website does not provide any evidence that it is a legitimate financial services provider. We have every reason to believe that this is nothing more than another online scam. Let’s take a detailed look at why you shouldn’t trust ATBmarketsPro with your money and what more credible options you have to start trading the financial markets.

ATBmarketsPro Regulation and safety of funds

The first thing to look for in a forex broker’s website is which legal entity runs it, where it is based and what regulatory oversight it is subject to. Licensed companies are also required to provide a comprehensive set of legal documentation.

We do not find any identifying information on the ATBmarketsPro website. It is unclear which company is behind this website and where it is based. There is no Client Agreement or other binding documentation. If you don’t know exactly who you are dealing with and what the terms of the deal are it would be an obvious mistake to put your money on the line.

Our suspicions that ATBmarketsPro is a scam have been confirmed by the Belgian Financial Services and Markets Authority (FSMA). Regulator has blacklisted this website.

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 Investments 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.

ATBmarketsPro Trading software

After registering an account, we get access to a pretty basic web trading platform that doesn’t feature extensive customization options or advanced functionality. We’ve seen the exact same platform being used by multiple fake brokers we’ve encountered. Scammers are using rigged trading software to fool their victims into believing that their money is really being invested and even turning a profit.

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.

ATBmarketsPro Trading instruments

ATBmarketsPro’s trading software includes currency pairs, stocks, indices, commodities and cryptocurrencies. But we have no good reason to believe this trading is real. It is in your best interest to invest in financial instruments only through licensed and established forex brokers.

ATBmarketsPro Spreads and cost of trading

ATBmarketsPro promises an industry average spread of 1.5 pips. But given that this trade is undoubtedly fictitious, there is no real significance to whether it is profitable.

ATBmarketsPro Maximum leverage

ATBmarketsPro advertises leverage up to 1:500.  This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. All leading regulators limit leverage for retail traders.

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.

ATBmarketsPro Deposit and withdrawal methods

On the website we see credit card, wire transfer and Bitcoin logos, but the deposit menu itself is not active. Experience has shown that fake brokers routinely advertise conventional payment methods, but actually steer their potential victims towards cryptocurrency transactions. This not only guarantees them anonymity, but also deprives the defrauded of the option to request a refund or chargeback.

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.

ATBmarketsPro Minimum deposit

ATBmarketsPro specifies a minimum deposit of 250 USD, which is the industry standard. But this means that for the same amount you could open a trading account with an established and duly licensed forex broker. Some of the leading brands in the industry offer Micro and Cent accounts with a very low entry threshold that are suitable for novice investors.

ATBmarketsPro 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.