Athens Markets Review – Who Is Behind This Scam Brokerage?
Athens Markets Review, This broker is part of the group Athens Markets LTD registered in the British Virgin Islands. They exist since 2022 and should comply with the country’s FSA regulations.
They provide FX and CFD trading services with a trusted MT5 trading platform. However, from experience, we know that offshore companies are always speculative. Their goal is often to hide something or to be below the radar.
So, read this Athens Markets broker review to learn more about this investment scam and all the shady tactics they use to swindle you.
|Athens Markets LTD
|British Virgin Islands
Are You Safe at Athens Markets? Regulation and Security
First, in any trading business customers are looking for the safety of the funds. It can only be provided with regulation. Therefore, we checked the domestic regulatory body, FSA from the British Virgin Islands. The results were disappointing and we can confirm that they don’t have a license for trading FX and CFD markets.
Second, we are always checking Tier 1 regulators. Those are the most trusted ones all over the world. That’s why companies tend to have those licenses besides domestic ones. Unfortunately, we couldn’t find any information in FCA, BaFin or ASIC database about the Athens Markets broker.
Athens Market is a broker that doesn’t provide clear trading and basic conditions. A fresh company without any reputable background from the British Virgin Islands. On top of that, they don’t have a license for that business from any regulator.
Overview of Trading Platform
As we mentioned earlier, offshore companies tend to hide information. They don’t provide anywhere what platform they are using. After a lot of digging, we found that they are using MT5. There was no logical reason why not to disclose that information since that is the most trusted trading platform.
The platform itself provides a wide range of features. From advanced charts and indicators, social and EA trading, copy trading, and many more.
MT5 app can be downloaded on any device. It’s especially important to be available on a phone or tablet. Many traders are sometimes caught off guard by some good trading deals. Therefore, you need to act quickly. For any Android or iOS device, MT5 can be downloaded through the platforms store.
Athens Markets Account Types Available
Compared with some other trading companies, Athens Markets Broker has a very poor choice of account types. They are offering only 2 account types that include the following:
- Athens standard
- Athens pro
The Standard account has unfavorable trading conditions starting with spreads from 1.5 pips, while the Pro has from 0.01 pips. On the other hand, the Pro account has flat-rate commissions and the Standard account has zero commissions.
Deposit and Withdrawal Process
Unfortunately, this broker doesn’t provide any information about depositing methods. The only available option according to the FAQ section is Bitcoin. Usually, the company offers a card or wire transfer but that is not the case with Athens Markets.
From many Athens Markets reviews we saw that people got scammed only through crypto wallets. They were not releasing money that clients made. The only reason why scammers prefer cryptos is traceability and encryption. Crypto transfers are the riskiest option available simply because you don’t have proof of that transaction.
How The Fraud Was Perpetrated
Investment scams can differ, but in most cases, the fraudulent scheme is practically carried out in the same manner. They all lurk for the personal information people left on online ads and once they come in possession of it, the constant emails and calls will start.
Scam brokers are always unregulated but often claim to be or are just registered somewhere offshore, which helps them remain anonymous. If you open an account with such an entity, you should expect endless phone calls.
Scammers will constantly try to approach you and make you deposit money as quickly as possible. Remember that urgency is always a bad sign, so it’s probably a scam if someone calls you twenty times per day, asking for money.
Keep in mind that even if the broker claims to have a license, as this one does, the regulation numbers they provided can be fake and need to be checked as well.
Athens Markets Summary
Athens Markets review was conducted to get you familiar with yet another offshore broker that is trying to lure in its clients with a not-so-legit-looking website. But in reality, they are just unregulated firms claiming to follow legal guidelines and offering online financial services.
The minimum required deposit is not even stated which is just a huge red flag and there is a demo account that cannot be accessed at all. These are all quite unsettling facts and a good enough reason to avoid this broker altogether.
In conclusion, we recommend you stay away from this fraudster and work with some of the well-recognized and reliable brokers we recommended.
FAQs About Athens Markets Broker
Is Athens Markets Regulated?
No, Athens Markets is an unregulated scam broker operating with the sole purpose of stealing people's money.
Is Athens Markets a Trustworthy Broker?
Absolutely not. They hold no license or regulation whatsoever. They are an offshore company based in the British Virgin Islands.
What Funding Methods Does Athens Markets Accept?
When it comes to the deposit methods, Athens Markets just like many other scam brokers only offers cryptocurrencies.