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AmeritForexTrade: A Scam Broker to Avoid in The Trading World
If you are looking for a reliable and legitimate broker to trade forex, you should stay away from AmeritForexTrade, a scam broker that has been exposed by several sources and authorities. AmeritForexTrade is an offshore broker that pretends to be registered in the UK and the US, but in reality, it has no valid license or regulation from any reputable body. It also has a history of deceiving and defrauding its clients, and has been blacklisted by the UK’s Financial Conduct Authority (FCA)1.
In this post, we will reveal the reasons why AmeritForexTrade is a scam broker, and why you should avoid it at all costs.
AmeritForexTrade is not regulated
One of the most important criteria for choosing a broker is to check its regulation and reputation. A regulated broker has to follow strict rules and standards to ensure the safety and security of its clients’ funds and data. A regulated broker also has to provide transparent and fair trading conditions, and offer compensation and protection schemes in case of insolvency or fraud.
AmeritForexTrade, however, is not regulated by any authority, and operates without any oversight or accountability. It claims to be registered in the UK and the US, but this is a lie. The FCA, the UK’s financial watchdog, has issued a warning against AmeritForexTrade, stating that it is an unauthorized entity that is providing financial services in the UK without the necessary permissions. The FCA also advises the public to avoid dealing with AmeritForexTrade, as it poses a significant risk of losing money1.
The US, on the other hand, has one of the most stringent and reputable regulatory frameworks for forex brokers, and requires them to have a license from the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC). AmeritForexTrade, however, has no such license, and is not authorized to offer its services to US residents or citizens.
Therefore, AmeritForexTrade is an unregulated and illegal broker that has no credibility or legitimacy. Trading with this broker means risking your money and personal information, without any guarantee or recourse.
AmeritForexTrade has unrealistic and misleading claims
Another sign of a scam broker is to make unrealistic and misleading claims about its services and performance. AmeritForexTrade does exactly that, by promising high returns, low spreads, and fast withdrawals, without providing any proof or evidence.
For example, AmeritForexTrade claims to offer a leverage of up to 1:1000, which is extremely high and risky. Such a leverage can amplify your profits, but also your losses, and can wipe out your account in a matter of minutes. Moreover, most reputable regulators have imposed a cap on the leverage that brokers can offer, to protect traders from excessive risk. For instance, the FCA limits the leverage to 1:30 for major currency pairs, and 1:20 for minor ones.
AmeritForexTrade also claims to offer spreads as low as 0.1 pips, which is too good to be true. Spreads are the difference between the bid and ask prices of a currency pair, and they represent the cost of trading. The lower the spread, the better for the trader. However, spreads are not fixed, and they depend on various factors, such as market volatility, liquidity, and demand and supply. Therefore, it is impossible for any broker to offer such low spreads consistently, and AmeritForexTrade is likely to charge hidden fees or commissions to make up for the difference.
AmeritForexTrade also claims to offer fast and easy withdrawals, without any fees or charges. However, this is another lie, as many clients have reported that they have been unable to withdraw their money from the broker, or that they have been asked to pay outrageous fees or taxes to do so. AmeritForexTrade also has a very vague and unfair withdrawal policy, which gives it the right to cancel or reject any withdrawal request, without any explanation or justification.
Therefore, AmeritForexTrade is a scam broker that makes false and unrealistic claims, to lure unsuspecting and inexperienced traders into its trap. Trading with this broker means exposing yourself to high risk and low reward, and losing your money and time.
AmeritForexTrade has a poor and shady trading platform
Another indicator of a scam broker is to provide a poor and shady trading platform, that does not meet the standards and expectations of the industry. AmeritForexTrade does exactly that, by offering a web-based platform that is not secure, reliable, or user-friendly.
The platform that AmeritForexTrade provides has no advanced tools, features, or indicators, that can help traders to analyze the market, execute trades, or manage risk. The platform also has no auto-trading or custom indicators options, that can enhance the trading experience and performance. The platform also has no mobile versions, that can allow traders to access the market from anywhere and anytime.
Moreover, the platform that AmeritForexTrade provides is not secure, as it does not have any encryption or protection measures, that can safeguard the data and funds of the clients. The platform also has no verification or authentication processes, that can prevent unauthorized access or fraud. The platform also has no demo or trial accounts, that can allow traders to test the platform and the broker before investing real money.
Therefore, AmeritForexTrade is a scam broker that provides a poor and shady trading platform, that does not meet the needs and preferences of the traders. Trading with this broker means exposing yourself to technical glitches, errors, and malfunctions, that can affect your trading results and satisfaction.
AmeritForexTrade has a high and unreasonable minimum deposit
Another warning sign of a scam broker is to require a high and unreasonable minimum deposit, that is not justified by the quality or quantity of the services or products that it offers. AmeritForexTrade does exactly that, by requiring a minimum deposit of $200, which is higher than the industry average of $100.
The minimum deposit is the amount of money that a trader has to deposit in order to open an account and start trading with a broker. The lower the minimum deposit, the better for the trader, as it means less risk and more flexibility. However, AmeritForexTrade requires a high minimum deposit, without offering any benefits or advantages in return.
AmeritForexTrade also has a tiered account system, which means that the more money you deposit, the more features and services you get. For example, AmeritForexTrade offers four types of accounts: Bronze, Silver, Gold, and Premium, which require a minimum deposit of $200, $1,000, $2,500, and $3,500, respectively. However, the differences between these accounts are minimal and insignificant, and they do not justify the huge gap in the minimum deposit.
Therefore, AmeritForexTrade is a scam broker that requires a high and unreasonable minimum deposit, that is not proportional to the value or quality of the services or products that it offers. Trading with this broker means risking a lot of money, without getting any return or reward.
AmeritForexTrade has a lot of negative reviews and complaints
The final and most obvious sign of a scam broker is to have a lot of negative reviews and complaints from its clients, who have been scammed or cheated by the broker. AmeritForexTrade has exactly that, as it has been exposed and denounced by many sources and authorities, who have warned the public to stay away from this broker.
For example, AmeritForexTrade has been blacklisted by the FCA, the UK’s financial regulator, who has stated that AmeritForexTrade is an unauthorized entity that is providing financial services in the UK without the necessary permissions. The FCA also advises the public to avoid dealing with AmeritForexTrade, as it poses a significant risk of losing money1.
AmeritForexTrade has also been reviewed and rated by many websites and platforms, who have revealed the scam features and red flags of this broker. For example, Forexbrokerz.com has given AmeritForexTrade a rating of 1 out of 5, and has listed the reasons why AmeritForexTrade is a scam broker, such as the lack of regulation, the unrealistic and misleading claims, the poor and shady trading platform, the high and unreasonable minimum deposit, and the withdrawal issues and problems2.
AmeritForexTrade has also received a lot of negative feedback and comments from its clients, who have shared their experiences and stories of being scammed or cheated by this broker. For example, Mintonblock.com has published a scam report on AmeritForexTrade, where it has collected and displayed the testimonials and complaints of the victims of this broker3.
Therefore, AmeritForexTrade is a scam broker that has a lot of negative reviews and complaints, that prove and confirm its fraudulent and dishonest nature. Trading with this broker means losing your money and reputation, and facing a lot of stress and frustration.
Conclusion
AmeritForexTrade is a scam broker that you should avoid at all costs, as it has no regulation, no reputation, and no reliability. It also has a lot of scam features and red flags, such as the unrealistic and misleading claims, the poor and shady trading platform, the high and unreasonable minimum deposit, and the withdrawal issues and problems. It also has a lot of negative reviews and complaints, that expose and denounce its fraudulent and dishonest nature.
Trading with AmeritForexTrade means risking your money and personal information, without any guarantee or recourse. Therefore, we advise you to stay away from this broker, and to choose a reputable and regulated broker, that can provide you
Heinrich Busumuru is a seasoned contributor to Nfinithub.com, where they provide their specialized knowledge on a wide range of subjects, including finance, technology, gaming, travel, and more. Their enthusiasm for learning and sharing insights is evident in each of their contributions. Heinrich possesses extensive expertise and experience in the technology industry, with a particular focus on IT and electrical engineering.
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