Absolute Markets Review – Offshore Scam Leaves Trail of Financial Ruin

This Absolute Markets review is especially focused on the investors that once fell victim to the cunning tactics of a now-defunct offshore scam broker. 

Cloaked in anonymity and devoid of proper regulation, this nefarious entity operated beyond the reach of financial oversight, preying on the dreams and savings of countless individuals.

What to do now, when you’re left hanging and your funds are stuck with miscreants is what we discuss next.

To add to the foregoing, we strongly advise you to ignore brokers such as Capital Forex Live, DGTL Trade, and NovaTechFx.

Is Absolute Markets a Secure And Regulated Platform?

Absolute Markets broker was established in 2021 in Saint Vincent and Grenadines. On the website, you can find the information that the company was created by three partners with more than ten years of experience. On the other hand, the names and portfolios are non-existent. The website overall looks good and simple. It contains the most relevant information about the company and its services until you start digging deeper.

We’ve found no trace of this broker with FCA, ASIC, or BaFin. However, they claim to be licensed by the FSA of Saint Vincent and the Grenadines. Why is this ridiculous? This financial authority can regulate no broker since they’re not in charge of Forex, CFD, binary options, or any other trading firm.

The Absolute Market broker was established in 2021. The broker claims to be FSA-licensed, but this regulator doesn’t provide Forex or CFD regulations.

How Unsafe Is An Unlicensed Broker?

The regulation is one of the first things you should check before signing in with any company, let alone when you’re investing money. Regulated companies take many measures to protect their members. For example, the client’s money must be segregated from the company’s money. It is essential to mention negative balance protection, which means you cannot lose more money than you initially invested.

And this is all a reason why unlicensed brokers are not safe. There are no measures and no rules.

How Did Absolute Markets Broker Scam Its Victims?

In the murky realm of online trading, this concrete example stands as a textbook example of what devious methods scammers are willing to employ. As a part of the initiation strategy, scam agents relentlessly call their targets over the phone, promising them huge returns.

Upon investing, the targets start their Absolute Markets Forex trading journey on a web terminal with questionable functionality and integrity. Altered data from inside the platform shows constant wins, until one day, under mysterious market events, or platform options failing, traders lose everything. 

Victims of this scheme report none of the promised tools and allegedly reliable software options worked in crucial moments of the trading process. In addition, uncontrollable, sudden market changes are often used as an excuse to snatch entire deposits.

Absolute Markets reviews are mainly negative. Clients are describing their experience with the firm, including the fact that they cannot get a withdrawal. This is the main topic of the majority of comments. When you’re investing funds, everything seems right. Until the moment you want the payout. This is where the struggle begins.

Absolute Markets Offers MetaTrader 4 Platform

MetaTrader 4 is relatively easy to use, and there are many tools and options for market analysis and risk management control. This is a good trading platform when it’s working. We’ve tried to test it out with a Demo account option, so guess what? The software couldn’t be tested. The company’s owners claim to have more than ten years of experience in the trading world. Yet the trading platform is not working, and the company is not regulated.

All About Absolute Markets Accounts types

Absolute Markets offers four account types. They are:

• Micro – $50
• Variable – $100
• ECN – $500
• VIP ECN – $5,000

The minimum amount for a deposit is $50, and the maximum is $5,000. Accounts differ in spreads, bonuses, and other perks.

Demo Account – Issues With Using It

As aforementioned, the Demo account is not functional. While, in theory, you can test the platform for free, you will have to pay the money first.

Absolute Markets Range of Trading Instruments & Markets

Customers can trade in all major markets, including:

• Currency pairs – EUR/USD, GBP/USD, AUD/JPY
• Commodities – gold, silver, oil
• Indices – NASDAQ, FTSE100, DAX30
• Shares – Amazon, Tesla, Apple
• Cryptocurrencies – BTC, ETH, XRP

Please remember the names of the WiniCoin, Swiss FX, and Fivoro and stay away from them! Before investing, always check the history of online trading organizations!

Absolute Markets Broker – Countries Of Service

Our research has shown that the broker mainly operates in:

• US
• South Africa
• UK
• India

Absolute Markets Trading Conditions 

The firm decides on its own trading conditions, not following any regulations. Here’s what we have.

About Leverage And Spreads

For all the accounts, leverage goes up to 1:1000. This extremely high leverage is insane and dangerous. Because it can lead to more significant losses, it has been restricted in many jurisdictions. If a broker is regulated, you cannot have leverage higher than 1:50. The spread starts at 2.2 pips, while the industry average is 1.5 pips.

Absolute Markets Bonuses and Referrals Program – As A Method Of Fraud

Bonus is encouraging, but don’t fall for this. The company is offering bonuses while failing to present terms in the Terms and Conditions section. Accepting a bonus like that means you will be asked to reach an unrealistic turnover before making a withdrawal request. Please note that such promotions are banned in regulated companies.   

Absolute Markets Withdrawal – Getting Money Back From an Inactive Broker

As disappointing as losing money to online frauds can be, we still encourage our audience not to despair. There’s no shame in being tricked into financial traps, as long as you do something for your financial future. 

If you’d like to try and get your hard-earned money back from the Absolute Markets scam, we have you covered! Our team of professional chargeback agents can help you understand your dispute options and conditions. For the details, you can contact us via the online chat and book your first consultation free of charge!

Scammed by Absolute Markets Broker? – Let Us Hear Your Story

If you already have experience with Absolute Markets and are reading this after working with them, you are probably looking for a way to recover the money you’ve lost. Being scammed is very stressful. We know it all too well. Unfortunately, these things can happen, but don’t despair. Contact us via online chat to book a free consultation and let’s recover your funds before it’s too late.