Apolotrade Review – Risky Trading Conditions And Zero Protection
Our in-depth analysis reveals firstly that the company is registered offshore. Since the country is Saint Vincent and the Grenadines, you can’t expect any domestic regulations.
However, their trading conditions lead to the idea that Apolotrade broker doesn’t have any. But before we jump to a conclusion, read our in-depth analysis in this Apolotrade review.
|Regulated By:||No Regulations|
|Is This Company Safe?||No|
|Have Warnings From:||N/A|
|Registered In:||St. Vincent and Grenadines|
|Trading Platforms:||Web trader|
|Deposit Bonus:||Not available|
|Trading Assets:||Commodities, Indices|
|Free Demo Account:||Available|
|How To Withdraw From This Company?||With a company that doesn’t have regulations and is running multiple offshore brands, you can’t expect clean withdrawals. If you experience any difficulties, feel free to contact our refund specialists for assistance.|
Legal Info: Is Apolotrade Legit Or A Scam?
We are looking elsewhere since the company can’t get an FSA license. Primarily, our search is in Tier 1 registers like FCA, BaFin, and ASIC. Unfortunately, the results didn’t bring up any information about this broker. Neither about Apolo Trade Limited, their official owner.
Instead, we found another brand, noble-trading.com, running from another offshore country. This is who Apolotrade makes a connection with. Shady as they get. Nevertheless, without regulations, you can’t expect any kind of protection. Especially not segregated bank accounts, guaranteed stop-loss and negative balance protection.
Who Are Apolotrade’s Clients?
Apolotrade brand has been operating since 2021. At least by looking at a who.is database. For a while, they were scamming mostly traders from:
- United States
If your country is not on the list, feel free to contact us and share your experience. After all, we could have a solution to your issue. But surely we can help if that’s a withdrawal problem.
Investment Costs With Apolotrade
The company offers insanely high leverage of 1:500. If you don’t have a negative balance protection, you can easily get into debt. And that’s what brokers are using to pressure traders to deposit more money.
The commission for a Basic account is quite high, standing at $10 per lot, while the lowest spread is 3 pips. Quite an expensive journey. However, other fees are not revealed.
Apolotrade Trading Features
As can be seen, the company is highly promoting automated trading features. But without MetaTrader 5 or cTrader, you can forget about it, since any other option is not that reliable. Especially Apolotrade.website web-based platform.
Generally speaking, such platforms are manipulative. All the information you see can be easily changed to control your next step. After all, that’s why scammers are using it.
Available Trading Assets
One of the huge disadvantages of this broker is the lack of very important instrument classes. Therefore, very few traders would be genuinely interested in investing. Especially if the company doesn’t offer many options. Anyway, you can trade with:
- Indices – S&P500, DowJones, DAX30
- Commodities – gold, crude oil, natural gas
Account types with Apolotrade don’t bring some exclusive benefits. Instead, you can get a bit lower minimum spread and lower commission. It’s still way higher compared to some licensed brokers.
But if you read our Coiniwelt review, you will see that even other scam brokers have lower fees. Anyway, the options are:
- Basic – $100
- Standard – $500
- Professional – $5.000
Mobile Trading App
Apolotrade presents its trading software in a way that newbies might think there is an app available. However, the situation is completely opposite.
All iOS and Android users would need to use the browser to access their accounts. This is not convenient for some trading strategies.
One of the rarely positive things about this broker is a demo account availability. But, the demo account differs from live accounts since the spread there is 0.3 pips.
In any case, it’s not reliable when the broker is not licensed. Another great example of misleading brokerages you can find in our BullishFXMarkets review.
The educational part with Apolotrade company is also quite poor. There is only an economic calendar and knowledge base available.
But if you are looking for advanced methods, you can forget it. Only licensed brokers have reliable training programs, such as live sessions, webinars, and many more.
Allegedly, the company processes all withdrawals within 2 business days. For withdrawal amounts lower than $1000, you have a $30 fee. But, without a license, the broker can say anything they want and ignore it after all.
Keep in mind that regulations keep brokers obliged to certain things. Otherwise, they are paying enormously high fees or even losing a license.
Another suspicious thing about Apolotrade is its customer service. There is only a phone number and web contact form available.
But also, there is a physical address in the British Virgin Islands. Exactly the one matching with another brand we’ve mentioned earlier. On top of that, the broker is using icons of popular social media networks. However, those don’t lead anywhere but on their contact page again. Therefore, you can expect quite poor customer support.
Key Information To Consider About Apolotrade?
Starting from the obvious, the company is not regulated. Therefore, anything they claim becomes questionable. After all, they are using suspicious trading software and risky trading conditions. Not to mention enormously high trading costs.
Therefore, you should avoid this broker at all costs. But if you already got involved and scammed, don’t hesitate to contact our chargeback team. The first meeting is free. So, get in touch now!
What Is Apolotrade?
Apolotrade is an offshore brokerage running multiple trading brands mainly for CFD options like commodities and indices.
Is Apolotrade Safe To Trade With?
No. The company is not licensed by any trusted authority. They are using suspicious web trader but also offer highly risky and costly conditions.
What Is The Minimum Deposit In Apolotrade?
The minimum deposit starts at $100. But without regulations any withdrawal is speculative. If you experience any problems, don’t hesitate to contact our refund experts immediately.