When it comes to trading in the forex market, choosing the right broker is crucial. There are numerous online forex brokers out there, but not all of them operate with honesty and integrity. One such broker is AthenaplaceFX. In this review, we’ll detail who this company is, its services, trading platform, license and regulation, legal warnings against them, client feedback, and how Reviewsadvice can help you if you get scammed.
Company Overview
| Broker Name | AthenaplaceFX |
| Website | https://athenaplacefx.com |
| Location | USA |
| Regulation | Not regulated |
Team
The company’s website provides minimal information about its team. There is no mention of any professional background, education, or experience. This lack of information about the company’s team raises red flags about the authenticity of the broker.
Services and ProductsÂ
AthenaplaceFX offers traders various services and products, including a standard account, a VIP account, trading tools, auto-trading robots, and trading signals. They say that traders can access more than 60 trading instruments, including currency pairs, shares, indices, and commodities.
Trading Platform
The broker provides its traders with access to a web-based trading platform. They say their trading platform is user-friendly, fast, and secure. They also claim that traders can access the platform from any device without the need for downloading.
License and Regulation
License Status
AthenaplaceFX is an unregulated and unlicensed broker. This means the company is not authorized to operate in the forex market, and they do not have the necessary license required by regulatory bodies.
Regulation Status
As an unlicensed broker, AthenaplaceFX does not operate under any regulatory oversight. No authorities monitor their activities, such as the provision of trading instruments or the management of clients’ funds.
Why Should Not You Trust An Unlicensed Broker?
Trading with an unlicensed broker poses several risks. The safety of client funds is not guaranteed, and there is no regulatory body to hold the broker accountable for any wrongdoing. Also, a lack of proper regulation means the client has limited protection from fraudulent activities. Therefore, it is always crucial to trade with a licensed and regulated broker.
Legal Warnings Against AthenaplaceFX
Several financial regulatory authorities have warned against AthenaplaceFX, including Spain’s Comision Nacional del Mercado de Valores (CNMV), Belgium’s Financial Services and Markets Authority (FSMA), and Sweden’s Finansinspektionen. They have issued statements warning traders about the company’s unlicensed status and the risks involved in trading with them.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback About AthenaplaceFX
About Their Trading
Traders have reported that the broker’s trading platform freezes, and the company does not offer traders any additional trading software extensions. Clients have also expressed concern about the broker’s spreads, which they claim are higher than market standards.
About Their Customer Service
The lack of transparency regarding the broker’s team has resulted in minimal customer service. Clients have complained about delays in response to queries and concerns as well as unavailability of customer support at times when it is needed.
How Can Reviewsadvice Help You If You Get Scammed?
Reviewsadvice is a website that provides forex traders with updated news, trading trends, and broker reviews. If you suspect you have been scammed by AthenaplaceFX, you can report the issue to Reviewsadvice. We can help you by providing free consultation and recovery service recommendations to help you in fund recovery.
Final Thought
A lack of information about the broker’s team and the company’s location means that traders must proceed with caution. Regulators have issued warnings against the broker, and several clients have reported negative experiences with the broker. If a trader suspects a scam by AthenaplaceFX, they can report their issue to Reviewsadvice, which can provide support for the affected trader. When trading forex, traders must choose a regulated and licensed broker to ensure the safety of their funds and to protect themselves from any fraudulent activities.
