AreaTrading Review – Why To Avoid Areatrade.io Broker
AreaTrading is an entirely anonymous online trading brokerage. The firm hasn’t listed the owner, and the Terms and Conditions have no relevant information about legal jurisdiction. The platform itself is a basic WebTrader, pretty much unimpressive. In fact, there’s nothing good about this investment firm.
Read our AreaTrading review and find out how the broker ended up banned in Russia.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||Central Bank of Russia|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
What About AreaTrading Regulation?
AreaTrading has never mentioned a company owner or the governing law. We’re given a UK phone number for support and an email address. Thus, we’ve checked the FCA and several other Tier1 registers, looking for the broker’s regulation.
Regulated firms have no problems listing the license number on the main page of the website, along with the owner and other relevant details. If you notice a broker like AreaTrading, without any data, it usually means one thing – the firm is unlicensed and either offshore or operates as an Easter European boiler room.
Why Is It Important For A Broker To Be Licensed?
Suppose you’re dealing with financial institutions – banks, insurance companies, pension funds. You want to be sure that your funds are safe and that the institution won’t just disappear.
The same stands for investment firms. There are strict rules to comply with if someone wants to run a legitimate brokerage. Since AreaTrading has no license, it can quickly vanish and steal all of your money. And there will be no authority that could help you recover it.
AreaTrading Warnings From Financial Regulators
After it had been reported numerous times, AreaTrading was finally banned by the Russian Central Bank. This authority body added two of AreaTrading domains to the list of fraudulent websites and warned citizens not to deal with a scheme.
Traders Reviews About AreaTrading
AreaTrading reviews are quite positive. However, you’ll notice a downtrend. It’s not uncommon for fraudsters to write their own reviews at the start. As time goes by, real customers start posting, and the truth comes out. That’s precisely what happened to AreaTrading.
Here’s an example of the latest reviews.
“they are really scammers, do not fall into this trap they will never return your money” –Trustpilot Customer
Is AreaTrading a Legitimate Broker Or A Fraud?
AreaTrading is a scam investment company. It’s not regulated, and there is no information about the owner. The broker provides bonuses strictly defying regulatory rules.
What Platforms Does AreaTrading Offer? – Available Trade Software
AreaTrading advertises its WebTrader as “an intuitive, user-friendly interface trading platform.” The truth is that it’s the same software we’ve seen hundreds of times with many other bogus brokers.
The platform itself has no special features such as EAs or social trading and has fewer charts and indicators than MT4 or MT5, for example.
AnyDesk and TeamViewer – Access To Your Bank Account
We’ve noticed that the company has links to download AnyDesk and TeamViewer, and account managers usually use it as an excuse to show you the platform. In fact, they’re all about checking how much money you have in your online banking and transferring it to themselves without approval.
All About AreaTrading Accounts
There are 3 the broker account types:
- Beginner – $250
- Intermediate – $2,500
- Advanced – $25,000
Besides the initial deposit, no other perks were listed, so we have nothing to say here.
AreaTrading Broker – Countries Of Service
The AreaTrading scheme is mainly active in:
AreaTrading Range of Trading Instruments & Markets
The firm clients can access 5 major markets, including:
The most significant accent is on crypto, as the firm presents itself as an exchange and advises clients to transfer all their crypto to AreaTrading wallet, allegedly for bigger commissions. This is another tactic to lure you into the scheme and steal your funds.
AreaTrading Minimum Deposit
The company asks for a pretty standard minimum deposit of $250. Yet, there’s no reason to risk as much with an unregulated scheme. Regulated firms have Micro accounts starting with as low as $10. You can test the system and not worry if the company will vanish with your money.
Scam Bonus Policy – As A Way To Keep Your Money
The broker offers bonuses up to 75%. However, they won’t bother to tell you to read the Deposit and Withdrawal Policy and learn the conditions for such incentives.
If you accept any AreaTrading bonuses, you need to roll over 25 times the bonus plus the deposit amount before being eligible for withdrawal. And that’s just a way for the broker to keep your funds and not allow you to submit a payout request.
AreaTrading Unfavorable Trading Conditions
Hiding trading conditions is worse than having bad ones. And that’s precisely what the broker does.
Leverage and Spread
There’s absolutely no information about leverage and spread, so the risks of your investment, as well as the costs, are well hidden. And you surely don’t want your funds to be exposed to these conditions.
AreaTrading Deposit, Withdrawal Methods, and Fees
The broker accepts deposits and withdrawals via debit/credit card and wire transfers.
The minimum withdrawal amount is $250 for wires and $100 for card withdrawals. Besides, there are fees of 50 units for bank transfers and 25 units for credit card withdrawals.
Scammed by AreaTrading Broker? – Let Us Hear Your Story
If you or someone close to you has been scammed by an AreaTrading broker, let us know. Our chargeback specialists are here to hear your story and assist.
But What Is A Chargeback?
This is one of the options you have to recover your funds from the merchant. Contact us via online chat to book a free consultation, and let’s get your money back before it’s too late.
What Is AreaTrading?
AreaTrading is an online Forex and CFD trading provider without a license.
Is AreaTrading a Scam Broker?
The broker has been blacklisted by the Russian Central Bank for scam activities.
Is AreaTrading Available in the United States or the UK?
The trading compnay provides unregulated trading services in both countries.
Does AreaTrading Offer a Demo Account?
AreaTrading doesn’t offer a Demo account, only Live types.