Atomic Trade Review: Signs That This Broker Is a Fraud
Atomic Trade is allegedly a company based in the UK that offers its clients the opportunity to invest in forex and CFD since 2018. But of course, that is far away from the real truth.
After further investigation, it is obvious that this broker is operating offshore and the address is fake. And on top of that, in order to operate from the UK, they need to be regulated by none other than the main watchdog FCA. Yet they are not.
So that is why we decided to make this Atomic Trade review so we can shine more light on this investment scam. Besides a cool name, there is nothing else they can offer you.
|Company||Atomic Trade Ltd|
|Regulation||Unregulated scam broker|
Licensing and Security of Atomic Trade
This broker claims to operate from the UK and logically they should have a license for such services. Especially since the UK left the European Union where they strictly require an FCA license or TPR. Only with those documents Atomic Trade Trading can offer services to UK clients.
But yet, as we have mentioned, they don’t have any. We went through the FCA register to see if there is any mention of them anywhere but found nothing.
We also checked the registers of other Tier 1 regulators such as BaFin, ASIC, and CONSOB and yet again found nothing. This just confirms that the Atomic Trade is an unregulated brokerage.
However, we did manage to find two warnings issued against them by the Canadian regulatory bodies. Namely, the Canadian Securities Administrators (CSA) and Consumer Services Commission (FCSC) flagged Atomic Trade as a scam broker.
Additionally, avoid the Kot4x broker as they are also an unregulated offshore company.
Trading Platform Overview
The basic Web Trader that Atomic Trade offers is far away from the promises they have made and advertised about the amazing cutting-edge trading platforms.
Sure, their Web Trader looks nice but it doesn’t provide any functions that you have with the MetaTrader4 and MetaTrader5. You only have some rudimental indicators and graphs and that’s about it. It’s always for the best to opt for the regulated brokers that offer the industry standards MT4 and MT5.
Deposits and Withdrawals Methods
The funding methods are allegedly credit/debit cards and bank transfers, but we cannot verify this information as the deposit system was not working properly at the time. We are unsure if this was only then or if it’s a regular occurrence.
Either way, we still wouldn’t deposit with them. And in the case of the withdrawals, the Atomic Trade shares few specific details,but it does not reveal any restrictions or transaction fees. Nevertheless, the broker reserves the right to impose specific requirements, so we doubt that withdrawals can be unlimited or free of charge. Heck, we are unsure if you can even get your money back.
Atomic Trade Account Types Available
Atomic Trade listed that they offer six account types and those are:
- Starting – $2,500
- Basic – $10,000
- Standard – $50,000
- Bronze – $175,000
- Silver – $600,000
- Gold – $1.000,000
Hefty price for a minimum deposit if you ask us. But the broker didn’t stop there. They didn’t even provide a Demo account. This just means that the broker will push you to open a Real account so they can steal your money.
How Is Fraud Set Up?
The fraud is set up in the same manner as the one from the GC Option scam broker. These brokers will first try to get your information if you have left it on some of those internet ads that promise huge wealth overnight.
After this, their experienced telephone agents will call you nonstop in order to bridge the crucial gap that exists between a user and a broker. They will seem interested in your life, your problems, etc. until you crack under the pressure and invest.
It is easy to fall prey to their sweet talk and don’t be ashamed if that ever happened to you. It also takes more than one deposit for a user to realize that something very unlawful is happening. By that point, however, the broker will cut all communications with the user and will try to deny all withdrawal requests.
Getting your money back is possible and there is no need to feel ashamed about it. Feel free to reach us since we can help you report your scammers to the right place. And always read the reviews first.
Atomic Trade Summary
In this Atomic Trade review, we tried to warn you about this scam broker that failed to provide some of the most basic info, including the country they are from and the leverage they offer. They allegedly offer their clients an opportunity to invest in forex, commodities, shares and crypto, but this is also likely just a lie, same as everything else on their website.
The minimum deposit is $2,500 which is too high even for a scam broker. Lastly they have been issued a warning by two Canadian regulatory bodies which are CSA and FCSC.
As always we advise you to stay away from brokers operating anonymously and falsely claiming to be legit. Make sure to always read reviews before investing. And in case you need any help in getting your money back, reach out to us!
FAQs About Atomic Trade Broker
Is Atomic Trade a Regulated Broker?
No, Atomic Trade is an unregulated scam broker that has been blacklisted by two Canadian regulatory bodies.
Is My Money Safe with Atomic Trade?
No, your money will not be safe if you decide to work with this broker that is trying to scam you.
Does Atomic Trade Offer Demo Account?
Similar to other scam brokers, this one also does not offer a demo account probably out of fear of people finding out they are a fraud.