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AppleTrade Review – Confirmed Scam Broker Blacklisted by FMA

Jun 20, 2021 ,
AppleTrade Scam Crypto Broker

Since AppleTrade officially does not exist anymore, there is a lot of questions arising. Is broker regulated and reliable? Where can investors file a dispute and request their funds back? Who will help them in the process?

For all this and more information, read our honest AppleTrade review.

Broker status:Unregulated European Broker
Regulated by:No Regulation (Unlicensed Brokerage)
Scammers (inactive)
Blacklisted as a Scam by:FMA
Broker Owner:Appletrade Ltd
Headquarters Country:Ireland
Foundation year:N/A
Supported Platforms:WebTrader
Minimum Deposit:$500
Types of Assets:Stocks, Cryptocurrencies (Cryptos), Indices, Forex (FX)
Maximum Leverage:1:888
Free Demo Account:No
Accepts US clients:No

AppleTrade Regulation, Licenses and Security

AppleTrade is another broker with a clever name that cannot be explored too much. Once you search for the name, it’s so generic that you will get Apple company and their payment options. However, we were able to discover that the alleged owner of the broker is Appletrade Ltd from Ireland. 

What’s Wrong With AppleTrade License and Regulation?

 A simple search through the Irish Financial Regulator register showed us that broker regulation doesn’t exist and the company is not even registered there. We can assume the broker was established offshore since offshore regulators don’t care too much about unregulated brokers.

Beware of AppleTrade broker’s scam.

Scam Warnings From Financial Regulators

The Austrian regulatory body FMA discovered illegal operations conducted by AppleTrade and issued an official warning. As per this warning, despite AppleTrade claims to be based in Ireland, this broker has no EU regulations and cannot provide financial services in Austria or any other EU country. Furthermore, they invited anyone scammed by AppleTrade to file a complaint against the broker immediately.

AppleTrade Platform

AppleTrade Trading Platform Review

Since the broker’s website is no longer active, we’ve checked a lot of AppleTrade reviews looking for information regarding the platform and trading conditions. As per these reviews, the trading platform irresistibly looks like MT5, but without some main features.

Another issue, besides the features, was the leverage. The broker was offering leverage of 1:888, proving that it cannot be regulated. All the EU regulators are limiting the leverage up to 1:30 for the Forex market in order to reduce risks.

Be aware of the AppleTrade financial fraud and avoid unregulated brokers like IngoInvest, Pocket Option or GoldenrodFX.

In Which Countries Does This Broker Work?

Since the broker does not belong to any regulatory jurisdiction, it cannot legally provide financial services anywhere. However, it operates within the EEA zone, including the:

  • United Kingdom (UK)
  • Africa
  • Singapore
  • Australia
  • New Zealand.

The restricted area is the USA.

What Can You Trade With a Broker?

The broker was offering trading with currency pairs, indices, shares, and cryptocurrencies. However, no commodities were offered, which is a bit odd. As mentioned, all the trades were executed on the web trader.

If you are wondering what AppleTrade’s minimum deposit was, you will be shocked. This illegal company was asking clients to deposit a minimum of $500 only via credit card. There was no other payment method available. Speaking of withdrawals, the same method was available, and fees were unknown.

Did You Fall Victim to the AppleTrade Scam?

The first thing to know is that you are not the only victim of the AppleTrade scam. Many people experienced withdrawal issues, especially since the website was inactive. Therefore, you need to file a dispute and get your hard-earned money back.

Contact our support via chat and get all the relevant information about the refund procedure. Then, book your free consultations today!

Don’t Let the Scammers Go Away for Free!

What is AppleTrade?

It is an unregulated and unlicensed online trading brokerage. Beware of fraud!

Is AppleTrade regulated and licensed?

No, broker has no regulation for providing financial services.

Is my money safe with the AppleTrade broker?

Since the broker is unregulated, your money is not safe.

Who is the owner of AppleTrade broker?

The alleged owner is AppleTrade Ltd, but the company is not registered anywhere.

What is the AppleTrade broker minimum deposit?

The minimum deposit with the broker is $500.