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Amelok Review: Amelok.com Bullish Broker Scam

Amelok Review: Amelok.com Bullish Broker Scam

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Amelok (Amelok.com) is a broker using celebrities to market their scam services. Some of the celebrities on the platform found on the platform include Harry Kane and Lewis Hamilton. Harry Kane is a professional soccer player who plays for Tottenham. Lewis Hamilton is the Formula 1 WORLD champion. These scam brokers are using their faces to act as ambassadors of the platform. Investors have fallen hard for this scam. Read this detailed and transparent AMELOK Review and get the truth.

Amelok Review

About Amelok

Information regarding the broker’s online reputation or trading background is not available. None of the brokers and investors we contacted in the UK has heard of the broker. The platform claims to be located in the UK and has a Russian default language. Amelok is using a cloned website’s information to attract investors. These are offshore brokers who are trying their luck in the EU market. And scamming investors is what they are good at.

To have a safe trading experience, it is best to have a reliable partner with tons of experience. These scam brokers may have created their website over 15 years ago and have no legal documents. What is shocking with Amelok is the fact that they have gone for years without getting a valid license. And this is an indication of the broker’s inability to pass the conditions set by regulators. It is why they offer unregulated services without insuring deposits made by investors.

Assets Found on Amelok

Amelok is offering a number of trading assets on their platform. These include CFDs, Commodities, Currencies, Cryptos, Energy, Futures, and Precious metals. The broker also has promotions as assets available on their platform. After clicking on the promotion’s page, information is on stock products. And this leads us to another problem with their website. It does not direct visitors to the said page. A good example is when opening an account. The account registration page shows an error message on the time we were conducting the investigation.

CFDs have been given a leverage of 1:100 which is fair. Such leverage is enough to drive every newbie trader to the site. The broker offers four types of Crypto coins on their platform. These include Bitcoin, Etherium, Litecoin, and Ripple. Futures on the other hand have a leverage of 1:20. The broker also claims to offer unique developments as part of their trading assets. Unique development is another word for getting an account manager. The broker offers unqualified agents to act as account managers.

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Business Owner

Global Limited Group Holding is the company listed as the owner of the website. Details of the company are missing from Company register in UK and Russia. And this is another indicator we are dealing with an anonymous online trading scam. Anonymity is associated with brokers who plan to steal from members. Due to their anonymous nature, it becomes hard to track down any funds. These types of brokers will not at any time handle transparent trading. They are a bunch of online tricksters.

Domain Register

The listed creation date is 22nd July 2005. The broker has been in the industry for over 15 years and does not have a valid license. These brokers target small investors who are trying out their hand at online trading. They have managed to stay below the radar until investors started complaining. With the complaints coming in from all parts of the globe, action has to be taken. Authorities will soon shut down the website to protect unsuspecting investors.

License Details of Amelok

The Financial Conduct Authority does not have a broker under this name. In Russia, we checked with the Financial Market Relations Regulation Center (FMRRC). They too do not have a licensed broker under the name Amelok or Global Limited Holdings Limited. And this is concrete proof we are dealing with a rogue anonymous broker.

Without credible license and registration certificates to show, it is clear they are unregulated. The entire website has no license information. A genuine broker will post details of their license credentials for all to see. It enables members to confirm the license details with relevant authorities. Clearly, Amelok is trying as much as possible to stay away from regulators.

Limitations of Amelok

Account Details

Amelok Account Details

Amelok is furnishing traders with three account types. The three accounts include Elementary, Standard, and VIP. Elementary account holders must deposit $500 to start trading. The industry has set $250 as the acceptable minimum deposit. A broker asking for higher amounts and is unregulated should not be trusted. Stay away from their accounts as they offer almost the same trading features.

Awards Listed

The broker has claimed to have won numerous awards. Some of the awards listed on the platform include Best Forex Provider 2015. The institution said to offer this award is Investors Chronicle and Financial Times. A look at their website reveals no such broker exists in their catalog. These scam brokers are using a reputable institution’s name to sell their merchandise. The awards are logos with no names engraved on them. And this is proof of the extent the scam artists have gone to entice unsuspecting investors.

Celebrity Endorsements

Amelok False Celebrity Endorsements

The two celebrities don’t know that their names are used in an online scam. Italian financial watchdog has issued a warning on such brokers who use names of celebrities. Harry Kane and Lewis Hamilton are both British nationalities whose names appear. If it was true, a video from the celebrities would have sufficed.

Contact and Support

When it comes to contacting the broker, they have listed an email and phone address. The bottom right hand side of the website has a chat box in Russian. It remains unclear whether the broker targets Russians to use the chat box. These scam brokers will require your contact details before initiating the chat. With your contact details with anonymous brokers, you start receiving hundreds of emails. The emails contain products you haven’t subscribed to. And this is proof we are dealing with a rogue broker.

Deposit and Withdrawal

These include Bitcoin, Maestro, MasterCard, Western Union, Wire Transfer, Visa, and others. Depositing takes less than five minutes and anyone in the world has access to one of the channels. Withdrawing funds with Amelok is what has become a headache to most investors. None of the new members have had the chance of withdrawing funds from the platform. The broker is not available for comment and is blocking these accounts.

Security of funds with Amelok

With the number of complaints rising by the day, it is clear funds are far from secure. The first issue in regards to safety is lack of security software to protect the website. Third parties can easily gain access to the platform. Hackers can send DDoS attacks and prevent anyone from accessing the website. Stay away from websites which offer no security to users.

Scam or legit with Amelok

Amelok Trading Platform

After checking all the facts, it is clear Amelok is a scam. Stay away from the platform and warn loved ones from accessing the platform. Ensure you mark all their emails as spam and don’t sign up with their affiliate programs. These are scam brokers who have nothing else to do than steal from newbie traders. With over 15 years in the game and lack a license, it shows the lack of seriousness from the broker. Steer clear of this broker and block any calls from their agents.

Final Thought

By adding the broker to our scam blacklist, we will have protected our readers. Use approved brokers when dealing with online trading.

Kindly continue reading our reviews for more on online trading goods and services.

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