Atropi Review: Is Atropi.com Profitable?
A growing number of people are interested in the concept of passive income. The Internet offers the idea that everyone, including non-experts, can now profit from financial market investments more easily than before. However, many fraudsters operate online using glossy adverts and phony client testimonials to entice novice traders. Despite promising you huge profits, these bogus brokers don’t actually invest the money you provide them. This profile fits Atropi.
Oversight in the forex market is paramount. Although different agencies deploy policies to protect the markets they regulate, they employ several common tactics. First, there are efforts to ensure that frauds cannot increase by requiring brokers to record open and closed trades daily, as required by regulatory frameworks in the UK, EU, the US, and other jurisdictions. Likewise, KYC requirements are placed on most businesses to ensure transparency.
Additionally, regulators are trying to guarantee that individuals with the necessary professional credentials and liquid money are running brokerage services. The requirements may vary from country to country but can occasionally be high. For instance, US brokers need more than $20 million, UK or EU brokers 730 000 EUR, and Australian brokers 1 000 000 AUD to receive a license. Most regulatory agencies also mandate brokers to contribute to guarantee funds that can compensate clients in the event of bankruptcy. For example, British consumers are eligible for up to £85 000 in compensation.
Although the above measures have been successful, they have not entirely kept fraudsters at bay. So, you still have to scrutinize brokers to determine which ones are licit forex brokers. Follow through to learn more.
Atropi LLC owns this broker purporting to be the leading ECNM provider. The instruments available include forex, stocks, commodities, indices, cryptos, and bonds. The broker claims to have 12 years of operational experience. But according to the whois database, the broker registered its domain on 17 March 2021. Talk of cheap lies!
A broker’s operational experience provides a reference framework to gauge its credibility. The more experience, the better. However, we are talking about authorized forex brokers. Atropi is still a newbie that you shouldn’t take seriously.
As cited by the broker, the alleged benefits include low spreads, ultra-fast executions, deep liquidity, reduced slippage, instant deposit, fast withdrawals, and secure accounts. The broker also assures investors of a powerful trading platform. Avoid experimenting with this broker, as it will swindle you.
Atropi claims to have its main office in St. Vincent and the Grenadines. This makes sense, given its rogue status. It also claims to have offices in UAE, Turkey, Singapore, New Zealand, the UK, and Ukraine. However, the broker does not share the addresses for the supposed offices but expects us to buy that-how bold!
Customer support is crucial in forex investment. This is because you will encounter challenges that may require technical assistance. If a broker is accessible, you are safe, but if not, that’s a huge problem. Examining their communication channels is one way to gauge the support service suitability. Typically, telephone contacts are best as they guarantee instantaneous help. Atropi has provided email and telephone contact. But for obvious reasons, we caution you against reaching out.
Atropi Deposit & Withdrawal Policy
The broker accepts deposits via PayPal, Perfect Money and cryptos. We have no doubts about the broker accepting crypto deposits, as most scammers prefer it anyway. This is because t crypto transactions are anonymous, providing the perfect cover for fraud. Again, you cannot reverse a crypto transaction. Since this broker is dishonest, we cannot determine if the other deposit methods are applicable.
We found outrageous clauses in the broker’s terms of service. For instance, e-wallet withdrawals for high trading activity accounts attract 2 percent of the withdrawn amount, while low activity accounts attract 5 percent of the withdrawn amount. This is as ridiculous as it is vague! What level of trading does its Finance Department term as a high activity?
Atropi provides investors with five account options. The Nano account has a minimum deposit of $50. Next, the mini account has a funding threshold of $100. Likewise, the standard account requires a minimum deposit of $200. The account holders for these accounts can only trade in currencies and metals.
The fourth is the ECN account, with a funding requirement of $1000. Investors with the ECN pro account must deposit a minimum of $2500. Account holders for these two accounts access a commission of $8 per lot per round table (RT).
Although the broker’s minimum deposit is low, you shouldn’t trust it. Again, no amount is too small when a scammer is involved. We urge you to look for brokers of good standing as they also have micro accounts for $10.
Atropi Trading Conditions
Atropi mentions a 25 percent bonus for all deposits and a 20 % refund on the ECN commission. This is another sign that the broker is not straightforward. See, brokers rewarding bonuses are calculating and know how to get back those bonuses. One way is to keep you from withdrawing deposits through extortionate conditions, requiring you to attain an improbable trading turnover. For this reason, many financial watchdogs have outlawed this practice.
Forex regulators mitigate risks to buffer investors from heavy losses in market downturns. The most popular measure is imposing a leverage limit on brokers they oversee. The US and Canada brokers observe the 1:50 limit, 1:30 for UK and Cypr
us brokers, and 1:20 for Hong Kong and Japan brokers. The broker advertises a 1:1000 leverage. This is prohibitively high leverage, considering that this broker doesn’t provide zero balance protection. With such a level, it’s just a matter of time before your investments are wiped out.
The broker’s spreads oscillate between 0.2 and 0.3 pips. This spread encourages lower total trading expenses. However, this is probably the one thing it got right, and unfortunately, not enough to change our stance about the suspicious broker.
The MT4 is mainly used for the online retail forex market. Because MT4 offers the ability to back-test trading strategies and create custom indicators, scripts, and auto-trading bots using an integrated editor and compiler and access to a free software library developed by other users, most users are fond of it. Likewise, its vast selection of trading software, trading bots created using proprietary scripting languages, and market indicators make it the more widely used of the two platforms.
MT5 is an all-in-one trading system that covers centralized and decentralized financial markets, including futures, stocks, and forex. The MT5 is also quicker, more adaptable and enhanced functionality than the MT4.
Atropi uses the well-known and reputable MT5 platform as its trading platform. The platform is acknowledged as most reliable. It’s not a brilliant idea to use any features of a dubious company like this one.
Offshore nations often do not control forex trading. Because they are exempt from having to answer to any organization or authority on their operations, dishonest brokers opt to register their enterprises there. Furthermore, the law hardly holds scammers accountable for their conduct in such areas. So, it makes sense that they would gravitate toward places like SVG, the Marshall Islands, and other similar locations.
Moreover, even in the unlikely event that an offshore nation has a forex regulator, the rules and requirements it imposes on brokers registered with it are far less stringent and numerous than those set by any of the well-known European, British, or Australian regulators.
According to Atropi, the Financial Services Authority of the SVG oversees it. As a stretch, the broker even provides the license supposedly issued. And while this may appear trustworthy and authentic to the untrained eye, nothing could be farther from the truth.
Meanwhile, the Financial Services Authority of the SVG has distanced itself from these claims, categorically stating that it neither licenses nor regulates any forex brokers. This confirms our misgivings about the broker. Avoid it to protect your investment.
Atropi doesn’t fit the bill of brokers you should consider for investment. The broker’s operation, notorious for harboring brokers of questionable dealings- is its first undoing. Likewise, the broker has excessive trading leverage, which makes us question its real intentions.
All the same, finding licit forex brokers shouldn’t be so hard. You only need to be keen on the attributes we’ve highlighted in this review. That way, you can sniff a malicious broker from a mile away.
Take control of your financial future and reach out to us today. Let us help you get back on the path to financial stability and security. Contact us for a free consultation, and let’s start the process of recovering your funds from Atropi.com Don’t wait, take action today!