ATFX broker is operating globally. Many of you might consider opening an account with this broker. How to know if the broker is good? Is ATFX regulated? How is it operating? Read our in-depth ATFX review and find out everything.
|Regulated by:||FCA, CySEC, FSC Mauritius|
|Types of Assets:||FX, commodities, indicies, crypto, shares|
Regulation and Security
ATFX broker is a co-owned brand of several entities. Owners are AT Global Markets LLC registered in Saint Vincent and the Grenadines, AT Global Markets Ltd, registered in the UK and regulated by FCA, ATFX Global Markets Ltd registered in Cyprus and regulated by CySEC, and AT Global Markets Intl Ltd registered in Mauritius and regulated by FSC.
The brand was first established in Cyprus in 2015 under the operating name Positiva Markets. In 2015 the company was overtaken by Hong Kong investors and became part of the ATFX group. Along with the change of the owners came a change of the brand name, and several new offices, including 2 offshore entities. And we can all agree that you do not go offshore unless you are avoiding strict rules of CySEC or FCA regulations.
When it comes to the security of the funds, the broker says it is operating according to ESMA rules, but there are no indications of where the funds are actually held and how to access them in case of the company’s insolvency. The broker offers trading on the MT4 trading platform, where you can see your balance.
In which countries does this broker work?
Since ATFX broker has several regulations, it can operate worldwide. According to the FCA regulation, the broker can operate within the UK. Besides that, it can work in the EEA zone based on its CySEC license. As a CIF, it can also provide financial services to residents of third countries if it complies with their trading regime. In the case of ATFX broker, those countries are Belarus, China, Indonesia, Lebanon, Malaysia, Moldova, Nigeria, Philippines, Qatar, Switzerland, Thailand, Ukraine, and the United Arab Emirates. Since the broker also has FSC regulation from Mauritius it can operate internationally, wherever it complies with the trading regime of the country.
However, we advise you to check to which entity you belong before opening an account since an offshore regulation can never have the same strength as FCA or CySEC.
How Online Trading Scams Work?
Online trading scams are especially popular since the Covid-19 pandemic started. In most cases, people think that they have read or heard enough and that they can’t be victims. However, scammers always find new ways. Ever since the Internet started, scammers are improving their scams. And finding new victims.
How does it all start? You see an ad on Facebook or get an email promising you thousands of dollars within a couple of weeks. You think to yourself that it cannot be true. But if there is a chance to make even 1 or 2 thousand, it will be worth it. After all, you know you cannot be a millionaire overnight. You just want to improve your life and live comfortably. Moreover, the person on the other side of the phone sounds very confident, talks to you in numbers and big words. And you think that’s it. You are in a good place. You put in your deposit and start. After you trade for a couple of days, you can even see very good progress. And then comes the question – are you willing to invest just a bit more, to improve this result. And you see the profit, you see that this broker is trustworthy. So, why not? You add a bit more money. The problem comes when you need that money back. When you want to withdraw the profit and take what’s yours. Then the Forex broker either gives you excuses or doesn’t even bother to pick up. And this is when you understand that the money is gone. What next?
Victim of ATFX scam?
If you were scammed by an ATFX broker, first thing is to understand you are not the only one. You need to act immediately and get your money back. Your way for a refund is a chargeback.
But what is a chargeback? It’s a way to get your card refunded in case you were a victim of a scam. You need to file a dispute and request a chargeback. Contact us for help immediately and let’s get your money back!
Is ATFX a good broker?
ATFX is a broker regulated by FCA, CySEC, and FSC. However, make sure to verify to which entity you belong before opening an account.
Is ATFX a Scam?
ATFX is a broker with several entities including two offshore offices. Make sure to verify under which entity you belong before opening an account.
Is ATFX regulated?
Yes. The broker has regulations by FCA, CySEC, and an offshore regulation from FSC Mauritius.
Where is ATFX broker based?
ATFX is a broker based in Cyprus, with offices in the UK, Saint Vincent and the Grenadines, and Mauritius.