AstroMarket Review: Everything You Should Know About astromarket.net
Whether you are looking for a crypto, forex, or any other broker, regulation is crucial. If the broker goes out of business, there is no way of knowing what can happen to your funds and unregulated brokers don’t have any kind of compensation.
Our AstroMarket review will show you that not everything is as it seems, especially not AstroMarket. Another broker that conceals the truth is TradeSmart1 so make sure you check him out.
Who Is AstroMarket?
AstroMarket Limited was a broker registered in Cyprus but lacked regulation from CySEC. The website was operated from a high-risk country according to ScamAdviser.
AstroMarket offers CFDs trading, however, before any broker in Cyprus can accept forex and CFD traders as clients, they must become authorized by the Cyprus Securities and Exchange Commission (CySEC).
|AstroMarket||Reliable Broker Must Have|
|Legal name||AstroMarket Limited||Transparently displayed in the disclaimer or legal documents|
|Regulation||Unregulated||Within your legal jurisdiction – local regulator|
|Registered in||AstroMarket247 Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus||Your country or the country whose license applies in your legal jurisdiction|
|Established||N/A||The older the domain – the higher the possibility the company is trustworthy|
|Website||astromarket.net||Domain should be from local or international zones, no .xyz, etc.|
|Financial Authorities Warnings||
|Contacts||N/A||Phone, email, social media, web form|
|If a withdrawal is possible||No||Yes|
|Fees||N/A||Transparent fees – list of spread and commissions|
|If Active on Social Media||No||Often present on social media|
|Investor Protection||None||Compensation fund|
AstroMarket is not a regulated broker, therefore, trading with them would pose a huge threat. Nations that the broker mostly operated from included Belgium and France so it is crucial to note that neither the Financial Services and Markets Authority (FSMA) in Belgium nor the Autorité des marchés financiers (AMF) in France regulated the broker.
Trading with regulated brokers can provide a sense of security due to the compensation fund. Furthermore, the fact that an authority is overseeing the broker’s operations can come in handy to prevent any scam attempts. Make sure to always remember that!
AstroMarket Broker Profile
There are many reports found online that the broker is a clone of several firms combined. Even though there is no proof of that, it wouldn’t be surprising considering the lack of reliability. Traders had the opportunity to enjoy the features of the Meta Trader 4 platform, which was possibly their only benefit.
Since trading with AstroMarket is no longer possible, it’s difficult to find a reliable source of information. Finding a reliable broker can be challenging, especially next to so many brokers similar to AstroMarket or PrismCapital. That’s why contacting a professional would be best so you can ensure a safe trading environment.
|Financial Instruments On Offer||
|Education or Extra tools||None|
Is AstroMarket Safe To Trade With?
AstroMarket is anything but safe. If we make a pros and cons list for the broker, the sad thing is, that the only pro would be the MT4 trading platform. Everything else about the broker raises concerns, including the lack of regulation and transparency. The leverage of 1:2000 is a huge red flag compared to other brokers, who commonly offer 1:200 or 1:500.
We understand how difficult it is to fall prey to scammers, however, you should know you’re not alone. We are here for you every step of the way until we take back what is stolen. You can book a free consultation, without commitment, and see for yourself. Reach out today!
How Is the Scam Carried Out?
There is no chance that an unreliable brokerage like AstroMarket would attract any traders without promising things they can’t keep. Brokers like this operate in a scheme, they keep calling you constantly trying to sell you stories about how depositing a large sum would bring you to an even bigger one. However, the only thing truthful about it is the depositing a large sum part because once you do, there is no going back.
Nations that were affected the most by the AstroMarket scam include Belgium, the Netherlands, Greece, Turkey, and France. Remember that reliable brokers would never call you promising impossible things. Due diligence and research are crucial and make sure you stay up-to-date at all times.
Deposits and Withdrawal Methods
Depositing and withdrawing your funds is no longer possible at AstroMarket. Since the brokerage is no longer operational, we can only assume that it left many traders without their funds. We don’t even want to think about withdrawals and how many issues traders faced with AstroMarket when requesting one.
Reliable brokers would never hide information regarding deposits and withdrawals. Any fees associated with the payment methods used must also be mentioned transparently on the website of the broker, along with the list of payment options.
Can I Make Money While Trading Online?
If you wish to make money while trading, never settle for brokers like AstroMarket. Instead of wasting your time on unregulated and fake brokers, dedicate it to finding a regulated, transparent, and reputable broker that is suited to your preferences. We understand it can be a hassle, so instead of doing all of that, you can also reach out and we will do the job for you.
By using our innovative AI bot, you can make your trading a lot better! Our AI bot carefully gathers and examines historical price information from a variety of charts and sources. It sorts through a ton of data to find market trends, patterns, and perhaps even opportunities.
That is why you need to know your financial state beforehand and make sure not to trade with something you’re unfamiliar with. If you reach out today, you can book a free consultation and there is nothing in trading that we can’t help you with, all you have to do is ask.
What Is AstroMarket?
AstroMarket was a brokerage company based in Cyprus, suspected to be a clone of several firms.
Is AstroMarket A Scam?
AstroMarket was certainly a scam and the best proof for that is the fact that the brokerage is closed.
How Can I Get My Money From AstroMarket?
Easy. If you used a credit or debit card to deposit funds, file a chargeback immediately. If you used another method, by reaching out right away, you will ensure the return of your funds. Book your free consultation now!