Altosmarket is a forex broker that is supposedly regulated by the Vanuatu Financial Services Commission. In the review below, we take an in-depth look at the features altosmarket.com allegedly offers. This review basically answer the questions: is Altos market Fx legit? Is altosmarket good? The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about Altos market Forex broker.
Table of Contents
Altos markets Trading Platform
Although the website looks professional and well-designed, we discovered that this broker doesn’t broker support neither the MT4 nor the MT5 trading platform.
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They use a web based platform to offer assets such as Forex (with leverages up to 1:50.), ETFs, crypto, commodities, and indices.
Altos Markets Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.
After thoroughly checking we discovered that this broker has
Altos Markets Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
The payment section only provides a bitcoin method for funding. We do not advice you to send any to them as transactions with bitcoin are hard if not impossible to trace or reverse
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal.
Is AltosMarket Licensed?
Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.
Through the provided information on the website, we learn that this broker claims that it licensed under Vanuatu Financial Services Commission.
First of all it is not, and even if it was, Vanuatu Financial Services Commission is not as efficient as regulatory bodies such as the FCA in UK, or CySec in Cyprus
Traders should always ascertain if a broker is licensed before investing in them. They should check regulatory bodies such as the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others. broker.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
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Conclusion
We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with altosmarket.com as they don’t give any information concerning if they are a regulated broker.
Altosmarket.com is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.
