Apel4x Forex broker review – Is it a scam broker?
While looking for a Forex broker, you need to find a company that can offer you safe and secure services. Today, we have decided to review Apel4x, a Forex broker that claims to be a legit company. However, our findings prove that Apel4x might not be as safe as it claims to be.
Even from the first visit to the website of the broker, we had suspicions that there might have been something wrong with this company. When you first visit the website of the broker, you get a special message right away, which already raises a lot of questions.
Why would a Forex broker need to tell their clients that they could have lost their money even before they started trading? This seems a little shady. While reviewing Apel4x FX broker we found many more questionable things, however. So, if you want to learn more about this company, follow our guide as we discover what Apel4x is really about.
Regulatory framework of Apel4x broker
Forex trading is a very risky business. Today, the internet is full of scam companies claiming to be ‘safe providers’. One way to tell if the company is a legit broker or not is to learn if they are licensed by any regulatory agencies around the world. In most cases, scam companies prefer to get licensed with offshore regulators to get away with their wrongdoings.
The broker claims that traders do not need to have any knowledge in the areas of the company activity. It claims that all of the operations are performed by a team of ‘professionals and automated trading bot’. It does not mention anything about its regulatory status, other than claiming that it is a ‘legit and legal broker’.
The fact that the broker is not regulated by any agencies leads us to believe that this company is actually a scam broker. When a broker decides to not get licensed, it means that they are up to something shady. We do not recommend trusting a broker that is not regulated.
The worst thing about the broker is that it does not provide any type of information on the website. It only claims to be located in Tampa, Florida, United States. This information is most probably a lie. For starters, United States is known to have only a few Forex brokers, most of them, being leaders in the field.
Apel4x review – Lack of regulations
According to the local laws in the United States, Forex brokers are required to be licensed under the regulatory bodies of the country. Two major regulatory bodies of the United States are the Commodity Futures Trading Commission, CFTC, and the National Futures Association, NFA. Every Forex broker who wants to offer services to American traders should be registered under both of these agencies.
As our review of Apel4x shows, this broker is not regulated by any of these agencies. It means that it does not have any right to offer trading services in the United States. The fact that this so-called broker still claims that it offers legal services only means that it is trying to lie to people and get their funds illegally.
Another very weird thing about Apel4x is that we were not able to find any legal documents on the website of the broker. This means that the company is doing whatever they want with the funds of traders. Investing in an unregulated broker automatically means that you will be losing your money.
Since the broker is not regulated under any agency, it means that there are no legal measures that can protect you. If you end up losing your money, which is very probably what’s going to happen if you trade with this broker, you will not have any way to get your funds back.
Review of Apel4x – Trading accounts
Although we have already pretty much made up our mind about the status of the company, we want to dive deeper into the offerings that Apel4x has to make sure that we understand everything about this company.
One of the most important parts of Forex trading is the account type that you can use. While reviewing this broker, we were able to find out that it offers only one type of account. In a market as diverse as Forex trading, offering only one trading account is nowhere near enough.
The fact that it offers only one account means that the only thing that this broker cares about is getting as many people as possible. If you have even the slightest experience in trading, you will be able to tell how absurd the offerings of this broker are. We don’t even know if the broker offers a demo account or not. Simply put, the website is useless. There is no information about anything that a trader would like to know before signing up.
The company also says that it is offering special bonuses to all of its users, which, on its own, is illegal in the USA and Europe. This once again proves that this broker is not a legit company and it is a huge scam dedicated to lying to people and stealing their money.
According to Apel4x, the broker will give you a free £1000 on £5000 of deposit. While this might sound a very generous offering, the fact of the matter is that it is too good to be true. It most probably is another way for the broker to attract new users. This is a practice followed by many scammers, they are creating offerings that are hard to resist, especially for newcomers who are enthusiastic about making it into this market.
The sad part is that if you trust this broker, you are more likely to end up losing your money. So, because of this and many other reasons that we are going to discuss below, we do not recommend using this broker.
Trading assets of Apel4x
The company claims that it offers access to Forex, Options, Stocks, and EFTs trading. While it might sound good, the information provided by the broker does not say anything about the trading conditions of these assets. For starters, there is no information about the leverage offered by the trader, nor about the spreads or commissions applied to trading any of these assets.
This is another reason why we believe that this broker is actually a scammer. The worst thing is that it is not even good at scamming. Even from the first minutes on the website of the broker, you can very easily tell there is something shady going on.
The broker claims that there are as many as 20 million active users of its services. We tried to check the information by using some of the most active Forex trading forums, but we were not able to find anyone who has used this broker. After very intensive research, we found some people who said that they have received special offers from the broker, but because of the lack of information, they decided to not trust the company.
While reviewing Apel4x, we found a person who told us that he received calls from the broker, offering him special services and bonuses. According to local laws in Europe and the United States, Forex brokers are restricted to call people and offer them their services.
The fact that this broker does so shows that it does not have any respect for laws and is doing everything in its power to scam as many people as possible.
Apel4x reviewed – Trading platforms
While trading Forex, one of the most important things is the trading platform. The trading platform is something that will give you access to the market, so, it is very important to use a broker that offers a well-developed, easy-to-use trading platform.
We were shocked to find out that this Forex broker does not really offer you trading software. The broker is trying its best to mislead the traders as much as they can by saying that they offer access to TradingView, which is a third-party chart provider.
First of all, TradingView graphs and charts are not an integral part of the broker, so they do not actually represent the actual trading conditions of the broker. Many newcomers might not know that TradingView is a third-party company, created for traders for analyzing and charting purposes. It can also be used by traders to socialize with each other and get to know other traders.
Apel4x claims that you do not need to know anything about Forex trading, you don’t even have to open positions because the broker is so generous that it will be doing everything for you. All you have to do is to give them your money, and that’s it. There are many things that sound problematic about this, and it makes us further believe that Apel4x should not be trusted.
Payment methods available at Apel4x
Apel4x is happy to receive your funds, it accepts payments in a number of ways, but prefers that you pay in bitcoin. The minimum deposit is $500. Traders can withdraw their money using Bitcoin, Ethereum, or Litecoin wallets. The minimum withdrawal amount is said to be $100. There is no information about fees, processing times, or anything else.
All of these further proves that Apel4x is a scam broker. The only aim of the broker is to attract as many people as they can, because of this, it is recommended to avoid using this broker at all costs. The worst thing about the company is that it does not give traders enough information.
The website of Apel4x and customer support
Even if you are a total beginner in Forex trading, you will be able to tell that Apel4x is a scam broker even from the first visit to their website. Sadly, there still are many people who are getting scammed by the company every day. The broker claims that it was established in 2013, and it seems like the website has not been updated since then.
It looks very outdated and something that was created by a 12-year-old. The colors are horrible and the navigation on the website is impossible. The worst thing is that the broker has created a special page for FAQs, where it answers only about 5 questions with 1 sentence answers.
As for the customer support team, we were able to find out that they are basically useless. We contacted the customer support team through the live chat, and the only thing that they were willing to say was to ask if we were already registered or not. After that, they did not answer any of our questions.
After that, we called the broker and we did not receive any answers. The number of the broker is +44 7451 288489 and the email is support@Apel4x.com. We tried contacting both of them without any luck. This further makes us believe that the broker is simply a scam and they are doing everything that they can to avoid contact with those who have questions about their services.
Should you trade with Apel4x?
After reviewing Apel4x and its services, we found that this Forex broker should not be trusted. The services that it offers simply are not good enough, and even more than that, if you decide to use this company you will face serious problems such as losing huge amounts of money.
So, we do not recommend trading with this broker to our readers. We believe that it should be avoided at all costs. There are dozens of other brokers that you can use online, so we do not see a point in trusting a broker that offers such questionable services.