AllTrading Markets Review
The trend of online trading was already popular for decades, but its hype has intensified in the last decade or so. The introduction of cryptocurrencies has played a role here, as have the flexibility and numerous money making opportunities it offers. There are thousands of people all over the world who have profited from the financial markets via online trading and it is natural for you to want the same. Of course, this means having to choose a broker first and this is easier said than done. The sheer numbers are enough to flummox anyone. Fortunately, this AllTrading Markets review can help.
How? The purpose of the review is to give you an idea of what to expect when you decide to use AllTrading Markets for your trading needs. Yes, it is essential for you to do this due diligence before taking a decision because you don’t want to end up with a platform that’s not suitable for you. In addition, you want to steer clear of scams that are quite common in the financial markets. It is incredibly easy for anyone to setup a website and offer you their services, but whether they are legitimate or not has to be determined.
Considering the number of scams that have occurred in the online space, it is better to be safe than sorry. Sure, you will have to make some effort initially, but it will benefit you in the long run because you will be able to make a decision that works in your favor. When you find AllTrading Markets in your list of online brokers, it is best for you to check the following review because it shows that this platform is up to no good and you definitely don’t want to sign up with them:
Lack of Regulation
If you check out the tips and recommendations provided by experts for choosing a broker, you will notice that nearly all of them suggest that you opt for a regulated one. This means they will be monitored by a regulatory organization and will be answerable to them. Likewise, it will follow proper standards and rules, which means you can expect fair and secure services. Is AllTrading Markets regulated? When you visit their website, you will notice that they provide an address of Lithuania.
Lithuania is a member of the European Union, which means that AllTrading Markets should be regulated by a European authority for providing its services in the region. Yet, there is no mention of regulation on their website, which means either they are lying about their address, or are operating illegally from Lithuania. In both scenarios, this shows that it is not a reliable brokerage and you should avoid it altogether.
Makes Profiting Impossible
Another prominent thing that you will soon learn about AllTrading Markets is that they make profiting impossible for their clients. The first thing you should note is that they are offering a trading bonus to their clients, something that no regulator in the EU permits, which means brokers based in the EU cannot offer them. Yet, you will find these bonuses available here and this is a big red flag.
Secondly, you just need to check the ‘Non-Deposited Funds’ section of the Terms and Conditions outlined by AllTrading Markets on their website. As per this policy, the profits made by traders are divided into two different categories; first is of profits that are based on the AllTrading Markets’ bonuses and they are not eligible for a withdrawal until the trader achieves a specific trading volume. The second category is of profits that you make with your own deposits.
While they have not specified the trading volume that traders would have to achieve for making a withdrawal, suffice it to say, it would be practically impossible. This is the reason why bonuses were banned by regulators in the first place because they were a way of exploiting clients. It means that you will not be able to achieve the trading volume that AllTrading Markets wants you to do. But, this will also stop you from withdrawing any other profits or money as well because, while the profits are divided into two categories in the policy, there is no way to separate them in your trading account.
All funds are kept in a single trading account, which means you will not be allowed to withdraw at all. It is certainly not something you would expect from a legitimate and reliable broker.
A quick look at the AllTrading Markets website shows that they offer 100% leverage, which is quite confusing. What does this mean? It could mean two things; either the leverage available is 1:2, or it is 1:100. No clarification is provided, which means you have no idea what you will sign up for.
High Minimum Deposit
You are asked to deposit a minimum of $500 to open a trading account on AllTrading Markets. If you check out most brokers, you will find that they are now allowing their clients to open micro accounts for $10. If they do ask for a higher deposit, it is not more than $200 to $250, but here you are asked to pay twice that. Plus, they only offer you wire transfers and Bitcoin as payment methods, which are not eligible for chargeback and this makes them incredibly risky.
No Proper Trading Platform
Last, but definitely not the least, you will not find a suitable trading platform provided at AllTrading Markets. They are claiming to offer a web-based trading platform on their website, but no demo is available. Even if you have no trading experience, you should be aware that legal and professional brokers offer either the MT4 or the MT5 trading platforms, as they are the top ones in the market and offer the right tools and technology. Yet, you will not find any of these options available here.
After you have gone through this detailed review about AllTrading Markets, it is not difficult to conclude that it is not a good broker for anyone.