The Active Traders Review – Lies Behind This Broker

The Active Traders Review, Before we go into the details of why this broker is the most common type of scam broker, we will tell you right away to stay away from this company when it comes to investment. 

First of all, The Active Traders misrepresents itself as a regulated and trusted broker, which is not true at all. 

Not only is The Active Traders not a licensed company, but it is also blacklisted by the CONSOB, a well-known Italian regulator, which confirms that it is a scam. 

The trading conditions also do not comply with the regulations of the country in which this company is said to be located. 

Another red flag is the trading platform that Active Traders offer its clients. Read The Active Traders Review to the end and learn in detail about the shortcomings of this company, which are at every corner.

The Active Traders Regulation and Funds Security

We found the following information about the regulation of the company on their website. The site is operated by The Active Traders, a company registered at 39 Ripple Road, Barking, United Kingdom, IG11 7NT. 

Also, The Active Traders LTD is regulated by the regulatory body Companies House. 

If we were less familiar with the regulations required in the UK market, we might have fallen for this story. 

But The Active Traders is simply not a regulated company. Given that its alleged company headquarters are in the UK, the regulatory body that would have to issue a license to this company is the FCA. 

More precisely, The Active Traders does not have any legal rights to operate, because it does not have the license necessary to appear on the market with its financial services. 

The company also uses a registration number of a different firm called Active Trader which is a legitimate company that offers business support services.

Since this broker does not operate under any legal regulations, his margin offer is much higher than the prescribed one, which is 1:30 for this part of the world market and is mandated by the regulatory regime of the United Kingdom.

That is why The Active Traders has been the subject of a warning by the Italian CONSOB, in which they point out that this broker is a source of great danger to the funds of traders who use its financial services.

Warning from CONSOB and FSMA

Besides CONSOB, the FSMA of Belgium also issued a warning against the scam broker for illegally soliciting savings from the public. Furthermore, the terms and conditions section of their website states that all transactional relations between the company and the client are subjected to the laws of Dominica. 

Dominica is one of the top 10 offshore havens for shady brokerages such as this since they have very low regulations which allow businesses to operate with minimal interferences. 

Trading Platform Overview

The Active Traders has a trading platform built into the website. A very modest trading platform, when compared to industry standards like MetaTrader4 or MetaTrader5.

Apart from their trading platform having some basic charting tools, it cannot be said that it can meet the needs of modern traders. 

Automated trading is not available. You can find similar market tracking charts on the internet for free. Of course, we didn’t even expect The Active Traders to meet the standard expectations that traders have today. 

It is logical that such fraudulent brokers will not invest in their trading platforms. Their goal is not to have satisfied users, but to run their scam with as little investment as possible.

Options for The Active Trader’s Deposits and Withdrawals

The Active Traders accepts payments via debit cards and bank transfers. The minimum deposit with this company is as much as 300 euros, which is too much when we know that there are regulated brokers where opening a micro account includes a minimum deposit of no more than $10. 

When it comes to refunds, we have not been able to find any information, there is no information on the website about the withdrawal request methods. 

We assume that withdrawal requests are handled the same way, with the possibility that there are fees charged by The Active Traders to their clients. 

Usually, scam brokers set specific conditions for a withdrawal request to be approved in an attempt to prevent their clients from withdrawing their money.

How Does the Scam Carried Out

The scam carried out by The Active Traders company is no different from what other scam brokers are doing. All of them schematically approach the theft of their clients. 

The website, and often e-mail messages, serve as company advertising. They will often mention the welcome bonus.

After the client invests and creates an account, the company will do everything to prevent the client from withdrawing his funds, from setting specific unrealistic conditions that must be met, to deleting the client’s account. 

When such companies are exposed, and when enough warnings are given to them, their websites often disappear, but soon new fraudulent brokers appear, on new websites and under a new name. So sometimes the fraud doesn’t stop when we discover it.

The Active Traders Summary

The Active Traders is just one more scam in a sea of ​​others. It does not differ in any way from other bogus brokers, so feel free to check the points that we have listed here as critical with brokers that catch your eye. 

The Active Traders is an unregulated, non-transparent company when it comes to data and terms of business, offering a poor trading platform. Exactly what we would expect from a fraudster. 

We hope we were able to warn you in time. Be careful where you invest your money AND pay attention to the points made in our article because these are the key elements that separate scam brokers from legitimate ones.

FAQs About The Active Traders Broker