Overview of Apex24Trade
Apex24Trade presents itself as a CFDs broker which founded in United Kingdom, but significant doubts cloud its legitimacy and safety for traders. Apex24Trade has not been regulated by any major authorities up to now.
Apex24Trade just provides access to a web-based trading platform, which cannot even be compared to industry standard Metatrader 5.
The broker accepts credit cards, PayPal, Skrill, wire transfers and crypto deposits. Additionally, the company has a very malicious set of Terms and Conditions.
Regulatory Status
There's no mention of a license on the Apex24Trade website. The regulatory status of Apex24Trade is highly suspicious and suggests it's not a legitimate broker.
Pros and Cons
Apex24Trade is a trading platform with several red flags. The biggest concern is that it's unregulated. Additionally, it's difficult to withdraw your funds due to high turnover requirements, and they lack transparency about key details like minimum deposit and platform features. The trading platform itself is also reportedly inferior.
Market Instruments
Apex24Trade might be avoiding regulations altogether and focusing on crypto CFDs as they are less restricted in some regions.
Leverage
Apex24Trade does not mention that once on its website – and its trading software is quite terrible and does not allow us to track the leverage available. It is quite possible that Apex24Trade does not actually offer leveraged trading at all – that is because the broker only deals in crypto CFDs. These assets are incredibly volatile and the majority of brokers offer rather small leverage on them – otherwise, a client could wipe their entire account with several trades going bad!
Trading Plarform
Apex24Trade provides access to a web-based trading platform, which cannot even be compared to industry standard Metatrader 5 – the former barely has any functionality, and the latter boasts the most sophisticated automated trading on the market! Still, here is what the platform looks like:
Deposit & Withdrawal
Apex24Trade accepts deposits starting from $500 – that is much higher than what the majority of brokers would take to open a micro account these days – $10 at most! The broker accepts credit cards, PayPal, Skrill, wire transfers and crypto deposits. Additionally, the company has a very malicious set of Terms and Conditions, with the following Bonus policy:
It states that, before withdrawals are possible, the client would have to execute a certain turnover requirement – 25 times the deposit and the issued bonus. Of course, this absurd amount is practically impossible to reach.
Customer Support
Apex24Trade provides four contact options to assist clients with different needs,but currently only three are valid:
Phone: Traders can reach Apex24Trade's team at 44.772.747.6551
Email: Alternatively, you can get in touch with Apex24Trade through email support@apex24trade.com.
Head Office: If you prefer to visit or send correspondence to their head office, the address is 302 Deansgate, Manchester.
Conculsion
While Apex24Trade advertises itself as a forex and CFD broker, a closer look reveals numerous red flags. The lack of regulation and potential for hidden fees raise serious concerns about the safety of your funds. Additionally, the unclear bonus structure and potentially limited trading platform suggest an unfavorable trading experience. There are simply no clear advantages to using Apex24Trade. If you're considering forex or CFD trading, choose a well-regulated broker with a transparent fee structure and a user-friendly platform to protect your investment and maximize your chances of success.
FAQs
Q: Is Apex24Trade a safe and reliable broker？
A: Credibility concerns surround Apex24Trade. The lack of clear regulatory oversight raises red flags, as it means there's no guarantee of fair trading practices or the security of your funds.
Q: What are the potential downsides to using Apex24Trade？
A: Several potential drawbacks exist. The bonus structure might make it difficult to withdraw funds, and the trading platform might be inferior to what other brokers offer.
Q: Are there any advantages to using Apex24Trade？
A: Unfortunately, there are no clear advantages identified. Reputable and regulated brokers offer a wider range of benefits, including transparency, security, and potentially better trading tools and platforms.
Q: What alternatives are there to Apex24Trade？
A: Many established and well-regulated forex and CFD brokers exist. These brokers will typically have clear terms, transparent fees, and user-friendly platforms.
Q: Where can I learn more about Apex24Trade？
A: While their website (https://apextrade24.com/) might offer some information, it's crucial to conduct your own research and compare them to regulated brokers with a proven track record.
