AppleTrade Review 2023 – Is This Unregulated Broker Trustworthy?
AppleTrade Review 2023 – Is This Unregulated Broker Trustworthy?

As quickly as they registered, that fast they vanished. AppleTrade broker is one more in the line of anonymous scam sites. Since some regulators warned traders against this broker, they shut down their website. This brand was owned by Appletrade Ltd based in Ireland.

To find out how to stay protected from these guys in the future and what signs of a scam are, check out this AppleTrade review.

What is more, we strongly advise you not to invest in XtreamForex, SageFX and Hugosway fraudulent brokers.

Broker status:Unregulated Broker
Regulated by:Unlicensed Scam Brokerage
Blacklisted as a Scam by:FMA
Owned by:Appletrade Ltd
Headquarters Country:Ireland
Foundation year:N/A
Supported Platforms:Web trader
Minimum Deposit:$500
Cryptocurrencies:Yes – BTC, ETH, XRP
Types of Assets:Forex, Commodities, Indices, Shares, Cryptocurrencies
Maximum Leverage:1:888
Free Demo Account:No
Accepts US clients:No

Is AppleTrade a Scam or a Legitimate Broker?

Based on the fact that AppleTrade is unregulated, it is likely a scam broker. Moreover, they have multiple warnings from regulators. For example, brokers from Ireland should be regulated by Central Bank of Ireland. However, Appletrade Ltd is not on that list.

In addition to that, they are not even on a list of any Tier 1 regulators. For instance, we checked the most trusted ones like FCA, BaFin and ASIC. Investors are advised to stay away from this broker to protect their investments.

AppleTrade is an unregulated and high-risk broker with multiple warnings from regulators, poor trading platform, and unfavorable trading conditions. Investors are advised to avoid this scam broker.

Why Is Trading On a Licensed Broker’s Platform Preferable?

Firstly, licensed brokers are required to follow strict regulations. Moreover, it ensures a higher level of safety for investors’ funds. Additionally, licensed brokers are subject to regular checks, which helps to ensure transparency and fair trading.

Overall, trading on a licensed broker’s platform provides investors with a greater level of confidence, trust, and protection.

Warnings From Financial Regulators

AppleTrade Warnings From Financial Regulators

AppleTrade has been the subject of multiple warnings from financial regulators around the world. In this case, those are CBI and FMA (Austria). 

These warnings typically highlight the fact that the AppleTrade broker is operating without a valid license. That means that the broker is not subject to any regulatory oversight or protection. The warnings make it clear that AppleTrade is a high-risk broker that investors should avoid.

What Platform Does AppleTrade Provide?

AppleTrade’s web-based trading platform is known for its poor performance and limited functionality. The platform is not user-friendly. 

Moreover, many traders have reported experiencing technical glitches and slow execution speeds. Additionally, the platform offers limited charting and analysis tools. The poor quality of their web-based trading platform is a major concern for investors.

AppleTrade Mobile Trading

Since the broker offers only a web-based trading platform, you can access it over the phone. But instead of having easy access through a mobile app, you need to login every time through a browser. This is not optimal for experienced traders. That’s why most traders are looking for trusted platforms like MetaTrader.

The Opinions of Traders On about AppleTrade

AppleTrade has received numerous negative reviews on Trustpilot. Many users reported difficulties with withdrawals. 

Several reviewers have also raised concerns about the broker’s high fees and unfavorable trading conditions. For instance, out of 88 reviews almost 90% were with the lowest rating.

AppleTrade’s Trading Assets and Instruments

FX and CFD brokers typically offer a wide range of financial assets for trading. The exact list of assets can vary depending on the broker. 

However, most brokers aim to provide a diverse selection to suit the needs of different traders. That’s why AppleTrade has its fingers in all 5 major groups:

  • Forex                        USD/AUD, CHF/JPY
  • Commodities            platinum, oil
  • Indices                      NKY225, CAC40
  • Shares                      Starbucks, Tesla
  • Cryptocurrencies       ADA, LTC

What Are The Different AppleTrade Account Types?

AppleTrade offers four different account types to its clients. Those accounts are:

  • Bronze          $500
  • Silver            $1.000
  • Gold             $5.000
  • Platinum       $25.000

The higher-tier accounts come with additional perks, such as access to a personal account manager and lower spreads. However, given the broker’s poor reputation and lack of regulation, investors should be careful.

Can a Trader Use a Demo Account?

Sadly, this broker doesn’t provide access to a demo account. While some licensed brokers offer at least a micro account, this is unacceptable for experienced traders. 

That’s why you should reconsider investing with this untrusted broker. Especially with this minimum of $500.

Minimum Deposit and How Do I Withdraw?

The minimum deposit of $500 is higher than expected. Especially considering AppleTrade reputation. However, information on the related fees and processing time for withdrawal requests is not readily available. As a result, you have so many negative AppleTrade reviews.

AppleTrade Payment Methods Available

As for payment methods, they were offering various options. Some of those are:

  • Cards
  • Wire transfers
  • E-payments

Important to realize is that none of these had clear conditions. After all, fees and processing time are non-existent.

Terms and Conditions for AppleTrade – What You Should Know

Since nobody monitors their activities, you can’t trust such terms. Above all, there are multiple signs that those T&Cs are fictive. The only thing they stick to is some malicious clauses. For example, for bonuses where traders can’t withdraw their funds, unless they made an insane return on investment.

Leverage, Spreads and Fees

In general, all trading conditions are untrusted. But leverage up to 1:888 especially. This is designed for traders to lose their money, which is highly possible with manipulated web-trader. 

Even though spreads are raw, we expect that to be charged through commissions.

Scammed by an AppleTrade Broker? – We Want To Hear Your Story

Don’t be ashamed if you were caught by these guys. Firstly, share your story with us here. Secondly, get in touch with out fund  recovery team. Let’s start a chargeback process now!

What Is the Chargeback Procedure?

If you were using a card to deposit with this broker this is your lucky day. That transaction can possibly be reversed. Of course, that action is time-limited. Don’t waste time and contact us now!

What Is AppleTrade?

AppleTrade is one more in the line of non-licensed brokers that pretended to offer FX and CFD services legitimately.

Is AppleTrade a Scam Broker?

Yes. Multiple warnings from regulators are confirmation of that. Besides AppleTrade reviews that are fairly disappointing.

Is AppleTrade Available in the United States or the UK?

It’s unknown if some of these countries were targeted by this broker. But it’s not excluded either.

Does AppleTrade Offer a Demo Account?

No. Unless you want to deposit money and open a real account, you can’t test their trading platform or trading conditions.


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