In this Athens Market forex review, we will discuss the legitimacy of this popular forex trading platform. We’ll take a look at regulations, customer reviews, and the quality of their offerings in order to gain an understanding of whether or not this is a safe and transparent platform for traders. Finally, we’ll present our thoughts on the overall use case for Athens Markets.
Athens Market is located in the British Virgin Islands and is owned by Athens Markets LTD group. The website of the broker can be found at https://athensmarkets.co/. They should adhere to the nation’s FSA rules as they have existed since 2022. Using the reputable MT5 trading platform, they offer FX and CFD trading services. However, we are aware from past experience that offshore businesses are always speculative. They frequently want to conceal something or blend in. If you would like more information, you can read this complete Athens Markets review.
Website – https://athensmarkets.co/
Address – British Virgin Islands
Warning – Not recommended by review websites like Scam Helpers
Regulation – Unregulated
According to the legal documents, the broker is supposedly registered in Saint Vincent and the Grenadines, which appears to be the key allegation in this case. But for the broker, this merely confirms that it is now a recognized offshore entity. Because Saint Vincent, a country in the Caribbean, lacks a forex regulator and permits fraudulent businesses to operate there as well, it is similarly unregulated there. This propensity makes Saint Vincent and the Grenadines a haven for scammers.
Athens Markets forex claims that they are registered in the British Virgin Islands also put us in a difficult situation. The British Virgin Islands Financial Services Commission, however, which would be in charge of overseeing the company if it were indeed registered in the Virgin Islands, is not mentioned. Since we couldn’t find any proof of it in the regulator’s database, it is not.
A wide variety of financial products are available from Athens Markets Trading Broker. They provide:
- CFD trading is risky in general, but it’s considerably riskier when you use unauthorized leverage. This is the case with the broker at Athens Markets. Even if they use a reputable platform, it doesn’t matter if the broker is a fake con.
Athens Markets claims to provide MT5 trading software on its website. With hundreds of features opening up the doors to the amazing potential for everyone, this software is the most well-liked and powerful one. However, because Athens Markets forex is unregulated and a danger, we do not advise using it with this particular broker.
Mobile Trading App
Through a dedicated MT5 app, users of Android and iOS devices can log in to their brokers. Keep in mind that you are dealing with an illegal trade company and resist the urge to be seduced by their attractive appearance.
The selection of account types offered by Athens Markets broker is extremely limited when compared to certain other trading firms. They are just providing two types of trading accounts:
- Athens Standard
- Athens Pro
Spreads for the Standard account start at 1.5 pips, while spreads for the Pro account starts at 0.01 pips. In contrast, the Standard account has no commissions and the Pro account offers flat-rate commissions. Overall, nothing extraordinary. Expect the unexpected because leverage is never acknowledged.
Deposit and Withdrawal Methods
Without first validating our accounts, the user area were unable to retrieve any payment information.The majority of the payment information did come from a return policy, albeit we are unable to tell how much of it is fact and how much is fabrication.
Therefore, under the refund policy, the broker has the right to extend the processing period, which is frequently accomplished utilising the first-come, first-served principle. Because multiple methods, including cards, banks, and cryptocurrencies are mentioned throughout the laws, the payment methods are ambiguous. We are also advised that the broker does not charge payment costs. Also, there was no minimum deposit disclosed on their website.
Athens Markets website is devoid of any details regarding their trading terms, including spreads, leverage ratios, minimum deposits, etc. Such a lack of openness is always concerning.
Thankfully, we were able to test the broker’s MT5 in a demo setting and saw that the EUR/USD spread was hovering around 1.6 pips, which isn’t a bad deal. There are, however, much better brokers out there than Athens Markets that provide smaller spreads.
Additionally, we discovered that the broker offers leverage up to 1:500. Although these levels are typical among offshore brokers, they are typically regarded as being too risky for ordinary traders, which is why many financial regulators have implemented leverage limitations.
Free Demo Account and Bonuses
Any regulation prohibits bonuses, so they are not permitted. It appears that Athens Markets only adheres to this one guideline. At least their website makes no mention of it. However, it’s not ruled out that you might receive a bonus offer while trading with them as a tried-and-true enticement.
Any business that uses MT5 frequently provides a demo account. This is fantastic news for Athens Market. On a demo account, however, you are using fictitious money to play. Trading with your own money is nothing like this.
Customer reviews and ratings are the most important factors before investing with a broker. It shows whether a broker is legit or a scam. Every Athens Markets review we looked at included some negative feedback from customers. Those who were dissatisfied with their service came from the US, Canada, the UK, and the Netherlands.
It’s possible that some other nations, such as Mexico, South Africa, or European nations, are complicit in this fraud. So, whatever your origin, exercise caution!
Athens Markets is an offshore and unregulated scam broker. This unlicensed broker claims to provide trading services in FX and CFDs. But all the claims and offers made by Athens Markets are fake. If you are a victim of an Athens Markets scam or any other scam like a forex scam, cryptocurrency scam, investment scam, binary options scam, romance scam, gift card scam, etc, you can file a complaint against a scam broker. Fill out a complaint form on our Scam Helpers website, and our experts will provide a free consultation and assert in the fund recovery process.
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