Creators of Chartistake broker’s website worked on making it legitimate. The firm allegedly received numerous awards, information is transparently displayed on the main page, and trading terms look appealing.
However, our in-depth research has shown that not everything is as it seems. That’s why we invite you to read our trusted Chartistake broker review and find out who this broker is.
|Broker Status:||Offshore Scam Broker|
|Broker Regulation:||Unlicensed Forex Provider / No Regulation|
|Scammers Websites:||Chartistake.com (site is inactive, verified 09/26/2022)|
|Operating Status:||Inactive Forex Trading Scam / Broker Disappeared|
|Blacklisted as a Scam by:||N/A|
|Broker Owner:||Chartistake Markets Ltd|
|Mobile Trading:||Available via Web Browser|
|Minimum Deposit:||250 USD|
|Deposit Bonus:||Up to 100%|
|Crypto Trading:||Available (BTC / ETH / XRP)|
|CFD Trading:||Yes, you can trade CFDs|
|Trading Instruments:||Forex / Commodities / Indices / Shares / Cryptocurrencies (Crypto) / Futures|
|Islamic Account:||Available from Professional account|
|Demo Account:||No, only live trading accounts|
|Accepts US Clients:||US traders are not accepted|
|Global Fraud Protection Team:||Don’t Invest in This Scam Broker!|
Is Chartistake a Scam Trading Provider?
The broker Chartistake is a brand of Chartistake Markets Ltd, based in Mauritius. According to the Home page, the firm holds a license from the FSC of Mauritius. However, a quick inspection of the regulatory database showed otherwise.
We’ve checked Tier 1 license providers as well, such as CONSOB, FCA, ASIC, and BaFin. Chartistake regulation is nowhere to be found.
All this indicates that your funds are not safe. Yes, Chartistake Forex broker is a scam trading provider that can vanish with your money.
Chartistake says to be regulated by the FSC of Mauritius. Upon checking their register, we confirmed it’s untrue. In addition, the broker’s Trustpilot reviews have been removed since they were fake.
Fake Awards and Achievements – Sign of Fraud
The company claims to have won the following awards:
- 1st Award – Best Trading Experience 2021 – World Finance
- 2nd Award – Best Forex Broker 2020 – Forextrading.ng
- 3rd Award – Best ECN Broker 2020 – Daytrading.com
- 4th Award – Best Education Provider 2020 – Fxdailyinfo.com
Since the website has been active since April 2022, it’s clear that these awards are a part of the Chartistake trading scam used to lure inexperienced traders.
Where Do Chartistake Scam Victims Live?
According to Chartistake complaints, the majority of scam victims live in:
This, of course, doesn’t mean that the firm is not globally present. Beware wherever you reside.
How Do Scammers Contact Their Victims?
If you’ve ever seen ads all over Google and social media flashing with “invest small, get big returns guaranteed,” you’ve had a chance to learn how scammers start their contact.
Once you click on this ad, your details, such as phone number and email, are transferred to a scam broker. Then, their employees will start harassing you until you make an initial deposit.
They will constantly call and promise anything, and offer bonuses and other incentives, just to lure you into fraud.
If you accept, you’ll be in contact with an account manager who will then add you to WhatsApp and Telegram groups for “chosen investors,” making you feel special. Of course, this is another trick to extort more funds.
Finally, you can be approached through comments and messages on various social media apps. Scammers often create fake accounts or make their current investors promote the firm, promising them a few dollars in return.
Available Trading Platforms
The choice of Chartistake trading platform didn’t amaze us. The firm offers a basic WebTrader whose highlight is the possibility to put Stop Loss and Take Profit. All other advanced features, such as EAs or social trading, are not enabled.
If you take a look at the broker’s main page, you’ll see that it advertises MT4, the best platform this industry has.
However, it’s just a lure. Instead of getting a fully functional trading platform with a wide range of tools, you’ll get access to nothing more than a web-based solution.
Chartistake Mobile Trading App
The firm has enabled access to a mobile app. Chartistake login is possible from any Android or iOS-based device. However, it’s the same internet-based platform turned into an app.
If you’ve expected any more functions, don’t raise your hopes.
What Can I Trade With the Chartistake Broker?
You can trade in the following markets:
- Forex – AUD/CAD, USD/TRY, GBP/ZAR
- Commodities – Gold, Palladium and Natural Gas
- Indices – NASDAQ, FTSE 100, AUS 200
- Shares – Amazon, Apple, Alphabet A
- Cryptocurrencies – BTC, MATIC, ADA
- Futures – FTSE MIB, CSI 300, China A50
Fees and Spreads
The firm advertises ultra-low spreads from 0.0 pips. The standard spread when overviewing the platform was just one 1 pip for EUR/USD pairs, which is exceptionally solid.
However, legit brokerages earn commissions from swaps and spreads. If an offer sounds too good, the broker is more interested in your deposit than small commissions.
Chartistake Trading Accounts Overview
You can choose from one of the four Chartistake trading account types:
- Standard Trading Account – Minimum deposit $250, 24h trading, the mobile app included
- Professional – $10,000, account manager, 30% deposit bonus
- Business – $30,000, company events, 50% deposit bonus
- Business Plus – $100,000, tailored conditions, 100% deposit bonus
As you can tell, besides the difference in the initial deposit, each account brings more benefits, such as a higher bonus.
An Islamic swap-free account starts with a Professional account.
Is Demo Account Available?
The Chartistake Demo account is not enabled. Upon registering an account, you will get a platform overview, but that’s about it. Scheme brokers don’t try too much to make the process easier for their customers.
It’s not in their interest to have someone practicing for free. Instead, they go above and beyond to make you deposit right away.
How Do I Withdraw Money From Chartistake?
Chartistake’s minimum deposit is clearly specified to be $250. However, the minimum withdrawal amount is not that easy to understand.
According to Chartistake Withdrawal Policy, the refund will be issued to the same payment method used to make a deposit. It takes 5-7 business days for the money to appear in your bank account. Yet, there is no further information or explanation.
It is stated that once you submit a request, you’ll be contacted by broker employees, probably to dissuade you from your intention.
Chartistake Withdrawal Issues and Withdrawal Fee Scam
According to Chartistake reviews, this trading firm asks customers to pay fees and taxes before the request is approved. This, per se, is illegal.
The company has the right to charge trading commissions, which are to be deducted from the profits. You should not be requested for any further payments from your bank account, credit card, or crypto wallet.
If someone is approaching for additional funds, report the fraud immediately.
I Was a Victim of Chartistake Scam, Can I Get a Refund?
It’s important to know that you’re not the only one and are not alone. We’re here to protect your rights and help you get a refund.
Book your free consultation today, and let’s deal with the scammers together!
All In All, Don’t Let the Scammers Get Away for Free!
What Is Chartistake, and Should I Invest Money In It?
Chartistake is an online trading firm based offshore. If you have any issues with fund withdrawals, you should contact us right away for help with the recovery procedure.
Does Chartistake Offer a Demo Account?
No, Chartistake broker doesn’t offer a Demo account but only a platform overview once you register for trading.
Does Chartistake Give a Deposit Bonus?
Yes, the firm approves up to a 100% deposit bonus for new investors.
What Is the Chartistake Minimum Deposit?
The minimum deposit required to start trading with this brokerage is $250.