ATFX Review – Is it a Scam or Legit Broker?

Regulation and security

ATFX broker is co-owned by several entities. AT Global Markets LLC is registered in Saint Vincent and the Grenadines. AT Global Markets Ltd is registered in the UK and regulated under FCA. ATFX Global Markets Ltd is registered in Cyprus and by CySEC. AT Global Markets Intl Ltd in Mauritius and regulated under FSC.

In 2015, Positiva Markets was the first to establish the brand in Cyprus. The company was taken over by Hong Kong investors in 2015 and joined the ATFX group. The brand name was changed and there were several new offices. There are also 2 offshore entities. We can all agree that offshore entities should not be established unless they are complying with strict CySEC and FCA regulations.

The broker claims it follows ESMA rules when it comes to security, but it doesn’t give any indication of where funds are held or how they can be accessed in the event of company insolvency. You can view your balance on the MT4 trading platform.

Which countries is this broker allowed to work?

ATFX broker is able to operate internationally because it has multiple regulations. The FCA regulation allows the broker to operate in the UK. It can also operate in the EEA area based on its CySEC licence. It can provide financial services to third country residents if it is compliant with their trading rules as a CIF. ATFX broker is a representative of the following countries: Belarus, China (indicated), Indonesia, Malaysia, Moldova. Nigeria, Philippines. Qatar, Switzerland. Thailand. Ukraine. The broker is also FSC-regulated from Mauritius and can trade internationally wherever it is permitted to.

We recommend that you verify your affiliation before opening an account. An offshore regulation cannot have the same strength or influence as CySEC or FCA.

How do online trading scams work?

Since the Covid-19 pandemic, online trading scams have been very popular. Most people believe they know enough so they don’t need to be scammed. Scammers are always looking for new ways to trick people. Since the internet was created, scammers have been improving their schemes. They are also finding new victims.

How did it all begin? You receive an email or an advertisement on Facebook promising you thousands of dollars in a matter of weeks. It seems impossible to believe. It is worth the effort if you have a chance of making even one or two thousand. You know that you will never become a millionaire overnight. You want to live comfortably and improve your life. The person on the other end of the phone is confident and speaks to you in numbers as well as big words. You think that’s all.You’re in a great place. Now you can deposit your money and get started. After trading for a few days, you will see some good results. Then comes the big question: are you willing and able to invest a little more to improve your results? You see the profit and you know that this broker is reliable. Why not? It’s possible to make a little more money. Problem is when you want to withdraw that money. If you need to withdraw the profit, then take what is yours. The Forex broker will either make excuses for you or not bother to pick it up. This is when you realize that your money is gone. Next, what?

What is a chargeback?

Chargebacks are a way for your bank to recover funds from the merchant. We recommend that you contact us immediately to begin the process. We will have a free consultation to discuss how we can recover your money right away!

ATFX: Video

Below you will find a short video about ATFX. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about ATFX!