ActivTrades Review: Broker indulging in suspicion
Some brokers pose themselves as holier than thou out through sheer marketing gimmick. It has become a successful and colossal business model. Several brokerage firms are emulating it blindly and fooling innocent traders. One such broker is ActivTrades review. It has myriad loopholes which not many people pay attention to, and they end up making losses.
The following article will unwrap several such fallacies that the ActivTrades broker envelopes and makes a fool of investors since 2001.
High risk on ActivTrades
The trader categorically mentions that all its financial products are subject to substantial financial risks. Furthermore, you are responsible for any mistake or loss. The broker totally shrugs off duty to protect a trader. Also, it concurs that trading is not a suitable job for everyone, because of the type of features it offers.
ActivTrades Review: safe or not?
The registration number does not define anything about the company because one of its set up is in the Bahamas (ActivTrades Corp.) It raises concerns as the region is not among the most authentic or trustworthy and an offshore. So, regulation by its authorities is not sensible.
It also has registration in the United Kingdom, then why does it need to have another one in the Bahamas? Even when the number of volumes coming from, there is not sufficient. So, it raises some legitimate doubts, which warrant answers.
Moreover, its parent company ActivTrades PLC has authorisation in the UK. However, there is no explanation offered why it needs two registrations. So, it’s up to the traders’ discretion to use it; a genuine reviewer won’t recommend the website for trading.
Doubts on the launch of ActivTrades
At least traders deserve to know when did ActivTrades review start trading. In the about us section, it tells 2001, while at the bottom it says 2005. An investor would feel cheated because, yet again no explanation is there on the website. How else would one trader trust? And even if we see that the broker has two decades of experience in the market, should not it spread awareness and come clean with such viable doubts?
The broker plainly tells that it has expanded its business over several instruments and assets, which encompasses thousands in number but does not present any proof of it. How does one come clean and believe it? These queries should be met with appropriate replies.
ActivTrades says that it renders services in more than a hundred and forty countries, but there is no evidence supporting what it mentions on the website.
It says that MetaTrader is the world’s fastest platform, but there are several other brokers like ROinvesting, 101investing, Global Trade ATF, and others also offer MetaTrader services.
So, making tall claims such that are not in good taste. ActivTrades mentions smart tools, but you do not see any after spanning through the website.
Starting of spreads
Spreads start at 0.5 pips; the minimum threshold is higher for many newbie traders when many are offering it at 0.01. So, ActivTrades needs to work on its ability to render fearless services that are in favour of a trader. But it seems that the broker is pocketing all benefits and doing nothing substantial for its clients. It is disheartening and takes the mood of trading away from people who think of investing in the market.
Also, it depends on futures contracts. Hence, overall the effect gets neutralised. Pips or no pips, traders are at a loss. Such twisting of words to fool a trader is quite low-level and sub-standard.
On CFDs, you have to shell out Euro one commission per side, which feels like cheating. In the UK, it is 0.10 per cent of the transaction. However, in the same line, it calls it free. That temerity of hypocrisy is darn. More importantly, ActivTrades is abusing the faith bestowed in it by traders.
Also, for continuing trading, you will have to re-open the position. But it is not that simple; one needs a new contract date. Thus, more hassles and troubles mounting for people.
Trading not soothing on mobile platform
The promises that ActivTrades make about its mobile trading platforms fall flat when you use them. They do not complement the demands of users. Instead, you roam around here and there like a nincompoop for learning it, which consumes your precious time.
The investment in time is essential for making profits in the financial market, and brokers are there to simplify your issues. But ActivTrades seems to be thinking on the contrary ends. The compatibility factor on Android, iPhone and other operating systems miss the point altogether, which disappoints users a lot.
Likewise, you feel it is quite slow and lethargic when it comes to placing your bids. It almost takes forever to adjust your position, and you lose the advantage of profits. Who would want to align with such a broker? Where is the responsibility that it asserts? Everything said and done, ActivTrades does not pay heed to users’ requirements. Hence, you are on your own.
Faulty direct execution
A direct execution idea may look nice but badly executed by ActivTrades. The software is so bad that it gets stuck again and again. Sometimes, you feel the need for human intervention, but by that time losses have incurred. You cannot even file a complaint against the fallacy because it’s the job of a robot.
Machines are not that capable of answering all your needs. You can’t speak to it. So, you need a human being that can listen and do as you say.
Withdrawal not for everyone
How would you feel if you get meted out like a subdued client, and the other person takes away the cream? ActivTrades is meting out different behaviour with distinct traders. The pick and choose business sends a wrong message to people, precisely investors.
If you are a client of ActivTrades PLC then only you can withdraw using PayPal, cards, Neteller, Skrill and all. Such discrimination is terrible and must be rejected outrightly.
Negative balance protection does not apply well
The website only brags about the negative balance protection but does not help as it says. It will not save all your money from getting into negativity. There’s a trick. Only a fraction would get saved. That is beyond science. Why can’t the broker help you in saving all your hard-earned funds?
Moreover, why is ActivTrades not talking clearly about it? Why is the brokerage firm shying away from explaining things publically? There should be transparency when millions of dollars are involved, isn’t it?
Response time of customer care
The broker admittedly expresses that it takes 27 minutes on average to reply to the emails. But that’s a long time. Why would a trader wait for so long? And resorting to mails would mean that the waiting time on phone calls or live chat is more. Hence, the overall customer care service is trashy and not good for customers.
ActivTrades needs to work on its drawback instantly. This is not the quality one would expect. It is not classy at all. Customer satisfaction is contrary to what meets the eye on the website. It is logical enough to understand that for making 95 per cent of clients happy, you need proper placements of executives and staff at work.
Furthermore, what is leading to such troubles? If there are so many issues, then is it even safe to trade on it? The answer is a big no.
Only three types of accounts
Accounts are the soul of any website, and they dictate how a trader would perform in the volatile and fluctuating market. You lose your spirits when you get caught by a wrong kind of broker or an account. A trader needs options to get the best result out of the market. But all you receive is a big disappointment from ActivTrades.
Genuinely, you have only one account, Individual, to let you know. There are zero privileges or help to a newbie trader. So, if you want to learn to trade, never step on to the website, they have shut doors for youngsters or learners. Ignoring potential market players tells a lot about how ActivTrades treats people.
What will you do with only one account? Nothing. If you perform well on that account, you have no higher or better place to go. Of course, you have the option to switch your broker because you cannot do that with the account.
Needless to say, any sane person would quit ActivTrades and move on to some better. It is like toying with the emotions of a trader when you don’t give them the option.
When you make a deposit, the first thing that hits your mind is there are no additional charges. But ActivTrades makes sure that you pay extra even on deposits through credit and debit cards. Additionally, the charges are 1.5 per cent. It’s a lot considering the deposits are high. It is like raiding an innocent trader for investment.
So, according to ActivTrades Review, if you make a deposit using their platforms, you would be charged like a criminal. It is better to use brokers like ETFinance, Global Trade ATF and 101investing. They are genuine and transparent, to say the least.
You can use the ActivTrades Review on your risk. We do not recommend the broker as there are several fallacies and loopholes that amount to cheating and forgery. So, you can avoid and search for better options in the financial market. It is your money and should decide how to save and magnify it. So, be wise and sideline imposter brokers. Hence, you can pick brokers among Oinvest, TradedWell and ROinvesting.
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