Thinking of getting into business with Abtfx Markets? Here is what you must know about this broker. Carefully read this review to find out if abtfxmarkets.com is the trading platform you will want to trade with.
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About Abtfx Markets Broker
Abtfx Markets is an offshore brokerage company with a lot of promises for traders. The broker location shows — Business Center Siafi 1/1 Limassol, 3041 Cyprus.
There are different account types broker offers. See below.
To clarify, in spite the trading instruments Abtfx Markets claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
abtfxmarkets.com: Reasons to Avoid This Broker
Firstly, abtfxmarkets.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because Cyprus Securities and Exchange Commission (CySEC) does not recognize the broker.
Secondly, we noticed abtfxmarkets.com has no demo account for traders. Since traders can’t test broker on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, Abtfx Markets mentions that forex traders are subject to a fee on any withdrawal. As for the processing time, it takes 3 to 5 working days.
Also, the broker charges $25 for an inactive account of 6 months.
Minimum Deposit
Abtfx Markets minimum deposit is pegged at $250 according to the account type.
As for the payment methods, the broker mentioned Debit/Credit card, Bank Wire Transfer and other online methods. But, you should not consider making any payment with this broker because it is a risk. So beware!
Abtfx Markets Platform
Abtfx Markets offers web based platform and not MT4 or its successor MT5 (Industry standard trading platform) which gives us more reason not to take this broker serious.
As for the leverage, it can get up to 1:400. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Abtfx Markets Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is abtfxmarkets.com a Reliable Broker?
No, abtfxmarkets.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
