Atomic Trade Review – Scam or Legitimate?

Atomic Trade Review

The number of online brokers you have to sort through to find one you can use for your trading needs can overwhelm just about anyone. A look at just a couple of them can leave people confused and unsure about which one to opt for because they have similar offerings and are touting the best services.

You cannot take their word for it because scams are also a reality. Choosing a company at random is not a good move either because it could be a scam hiding in the midst of legitimate brokers. Yes, this is something very common, as you will learn in this Atomic Trade review.

Then, how do you avoid such platforms? There is no magic formula that you can use to eliminate fraudulent companies and it can actually be difficult to get rid of them because they do their level best to convince you that they are the perfect choice.

They deliberately create a package that most traders who are starting out will find appealing and this gives them a huge pool of victims because there are countless people making their way into the financial markets.

Unless you want to become the next victim, your priority should be to learn the truth about a broker. This means finding out if it is a scam, or a legitimate company that you can trust.

It might require you to put in some time and effort, but as it saves you from disaster in the long run, it can be worth it. Otherwise, you might end up falling for some of the tricks that these fraudulent platforms play and regret your decision. You do not want to make that mistake, so you should dig deep into its offerings.

You can do the same with Atomic Trade that presents a minimalistic and stylish website and all relevant information seems to be in order. But, you have to take an in-depth look into Atomic Trade before you determine its legitimacy. Ready to do so? Let’s get started:

Licensing and regulation

If there is one thing that can distinguish between legitimate and scam companies, it is their licensing and regulatory status. The former are likely to have a license from the regulatory authority of the region where they are based in.

The latter are unlikely to do so because it would reveal the truth about them. Genuine companies will always be upfront about their licensing and provide you relevant information that you can use to verify the details as well. This is all you need for your peace of mind, but it turns out that Atomic Trade cannot be helpful here.

Even though you will find that Atomic Trade claims to be based in the United Kingdom, it does not seem to have a legitimate forex license and this is a major concern.

In order to operate in the UK, a broker needs to have a license from the Financial Conduct Authority (FCA). You can check their online register for Atomic Trade and you will not come up with the broker. This means the purported London address on its website is unlikely to be genuine.

If it does exist, this does not help with Atomic Trade’s credibility because it means the company is operating illegally and no legitimate platform would ever make that mistake because they can get into trouble. You can conclude that it is a virtually anonymous broker that you cannot deem legitimate.

The trading platform

The lack of regulation is only the beginning of the problems that you will discover at Atomic Trade that provide you proof that you are not dealing with an authentic company. The next indication that you will come across is when you check out the trading platform the brokerage is offering to you.

Even if you are beginner trader, you are probably aware that the platform is the most crucial feature in the trading process because without it you cannot make any transactions.

It also provides you the tools that are needed and the technology is also important because it can affect your speed. Rather than offering you one of the professional trading platforms like the MT4, or the MT5, you are given a web trading platform at Atomic Trade that does not offer anything of note.

It is a lackluster and oversimplified platform that cannot be relied upon for a professional trading experience. It is common amongst many scam brokers, as they have to maintain their illusion of a legitimate firm.

Terrible trading conditions

The trading conditions are directly linked to your profits, so you need to know what kind you will be provided. As it is already obvious that Atomic Trade is not a worthy broker, you can expect terrible trading conditions.

The problem is that it does not really mention conditions outright, something legitimate brokers would not do because their aim is to be transparent.

Nonetheless, when you check out the trading platform offered at Atomic Trade, you will notice that it boasts spreads as high as 5.4 pips, which are outrageous.

They are almost 6 times higher than most competitive brokers, which means that Atomic Trade is not a competitive platform at all. Why would you sign up with a company that does not let you profit?

High minimum deposit

It is the norm for an online broker to ask its clients to make a minimum deposit for opening an account, but the amount they ask for can vary. These days, there is a lot of competition in the market, so many brokers are asking for deposits as low as $10 to let people open micro accounts.

Therefore, it comes as a major shock when you check the minimum deposit requirement that Atomic Trade has set for its clients; $2,500.

This is just too high because even the standard deposit amount is not more than $250. But, Atomic Trade wants you to deposit 10 times the amount and this again shows it is not a professional platform.

The Verdict

The details you uncover when you check Atomic Trade out show that it is not a legitimate brokerage and is just a scam trying to rip people off.