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Atwell global is a company claiming to be a regulated broker offering financial services with strict adherence to ethical standards. You have probably heard that forex investment is an attractive venture that rewards well. However, you may not have heard that it is the riskiest investment despite being lucrative. The risk is attributable to the volatile market and scamming incidences.
In this article, we are going to focus on the latter. According to this company, clients can access over 600 trading instruments, including 55 currency pairs. Additionally, clients using the platform will conduct secure transactions where funds are segregated in a separate account.
Before you settle on a forex broker, it is prudent to conduct a background analysis of the said broker. The research will help you to establish whether the broker is a scammer or legit. In many cases, most brokers are not who they are, but they will use deceit to convince you to invest with them.
That is precisely the plan of Atwell global.com. In the subsequent review, we share some veiled and not-so-veiled signs that indicate that this company is a fraudster. In the meantime, check out these genuine forex trading companies. These are transparent and regulated platforms. They take the safety of customer serious.
This company boasts a client base of over 4 million and a global footprint in 150 countries. However, this track record is only achievable by brokers who have been in the market for a while but not newbies like Atwell global. Also, the company allegedly provides fast and secure payment methods when investors are depositing.
Moreover, the company offers tools such as a pips calculator and an economic calendar for traders. For those unfamiliar with forex, Atwell global provides a demo account for a demo before live trading.
Atwell global has not given details on the owners/ founders of the company. Consequently, knowing who you are dealing with as an investor is impossible. You cannot hold anonymous people accountable if things go wrong, and they do with forex scammers.
Lack of email or telephone contact makes it hard to get immediate feedback from the so-called customer support. Additionally, the location and contact details are missing from the website. The only option for you is to send them a message through a funny interface. Unfortunately, you cannot be able to keep a record of correspondence as there will not be a communication thread.
Be wary of this company. You need to ask yourself why the broker hesitates to give their address. In all likelihood, it is because this is an offshore broker, and the company does not want you to doubt its legality before they get hold of your money.
Whois data indicates that Atwell global was registered on 9 June 2022. The domain expires on 9 June 2024. It is suspicious that a company that just recently registered wants to be out of the market by 2024. Recall that the company claims it is in 150 countries, which is impossible for a company that is just 105 days old! This should not be a surprise, as such exaggerations are typical of scammers. They can not be in the market for long since their deception will blow their cover sooner than later.
Another thing we found creepy is that Atwell global withholds its identity from the public. It is not hard to guess why the identity is private- the company wants to remain anonymous in its underhand dealings.
Investors only engage with brokers who have a good reputation and are transparent on such essential details.
Atwell global has two investment plans. The standard plan has a minimum funding threshold of $100, while the ECN plan has a $100 funding threshold and $8 commission.
Investors should watch out for brokers with high trading volume requirements, as this signifies a broker’s intent to get as much as possible. While the minimum deposit requirement is not very high, remember you can get a legit broker and open an account with less than $100.
Atwell global offers investors a commission. Before you get excited, be advised that reputable regulators prohibit this practice. The commission is just an incentive to lure you, but it will work against you. This is because the broker will attach extortionate terms, requiring you to attain a particular level of trading to access the commission. Do not fall for the commission bait, as Atwell global will make you pay dearly through hideous conditions. It is in your best interests to avoid this scammer while you still can.
This company claims that the Financial Services Commission (FSC) Belize regulates it and has given a license number. It turns out that 000261/309 is the registration number for XM global(legit forex broker)! The blatant misrepresentation is unethical and signifies that the company has no ounce of truth in it- and all the information on its website is not an exemption. Moreover, this broker cannot be under FSC regulation due to its explicitly non-compliant conditions like offering commission.
Why is a broker claiming to be genuine find it hard to be under a regulation body? The only plausible explanation is that it does not respect the rule of law or your investment values. A broker would only lie about its licensure because it does not want to admit that it is unregulated. Moreover, being under a financial ombudsman require a broker to meet specific requirements, which Atwell clearly cannot meet. High chances are this is an offshore broker- the more reason to steer clear from it.
While trying to download the MT4, we found that Long Asia, another illicit company with a scamming reputation, provides the software. The company allegedly provides an MT4 trading platform. The platform is recommended as it meets industry standards.
The only way you will be safe from frauds like Atwell global is to only invest with reliable brokers offering genuine platforms and competitive trading experience. Before you trust them because of the MT4 software, remember such a shady broker is capable of manipulating the platform. In such a scenario, the broker requotes your executions or uses other strategies such as slippage and stop hunting.
The broker offers a 1:500 leverage and a spread of 0.1. While the spreads are within the acceptable range, we cannot say the same about the leverage. Unregulated brokers do not cap their leverage at the stipulated 1:30 because they want to entice you with the allure of insane profits. Before you fall for the leverage trap, remember that it predisposes you to an equally high magnitude of loss.
This important legal document sets clear expectations, rules, and engagement contexts. The missing terms & conditions are another disclaimer against this company. Why is such a crucial document not provided? Your guessed right- this broker is dubious.
The long and short of it is that this broker is a scammer. The company is economical with the truth, given the misrepresentations and omissions that lace its website. Ensure you choose the best forex trading companies to enjoy better trading conditions.
Also, the most dangerous brokers are offshore and unregulated, and this company fits the bill. Subsequently, your deposits are not safe with the broker as it shall swiftly swindle you leaving you penniless and frustrated. Your investment matters, so do anything except engage with this malicious broker.
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