Athenaplace Finance Ltd. claims to be a forex and CFD broker that offers traders an array of investment products and services. However, there have been several reports of fraud and unethical practices that have been associated with this broker. In this article, we review the Athenaplace Finance Ltd. broker, looking closely at their services, team, license, and regulation.
Company Overview
| Broker Name | AthenaPlace Finance Ltd. |
| Website | https://www.athenaforx.com/ |
| Location | China |
| Regulation | Not regulated |
| Warnings | Multiple |
Team
Although the Athenaplace Finance Ltd. website mentions a team of professionals that run the brokerage, it is unclear who they are. The website does not provide any information about their individual experiences and qualifications.
Services and Products
Athenaplace Finance Ltd. offers traders access to several financial assets. The broker offers over 50 different forex pairs, as well as indices, commodities, and cryptocurrencies. They even have an education center that provides traders with information about market news, trading terminologies, and technical analysis.
Trading Platform
Athenaplace Finance Ltd. provides its traders with a proprietary trading platform. The platform offers users access to a range of technical analysis tools and charting capabilities. However, many traders have reported issues with the platform, including slow execution times and the platform crashing regularly.
License and Regulation
License Status
At the time of this writing, Athenaplace Finance Ltd. does not have a valid license from any regulatory body. They claim to be registered in several countries, including the UK, Cyprus, Germany, Canada, and the USA. Still, upon investigation, we found no evidence to support these claims.
Regulation Status
Similarly, Athenaplace Finance Ltd. is not regulated by any recognizable regulatory body. This means that there is no oversight by a financial authority that can hold the brokerage accountable. This is a red flag for clients looking for a broker to trust their funds with.
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.
Why Should Not You Trust An Unlicensed Broker?
Unlicensed brokers are not regulated by a recognized entity, which means they are not bound to follow the rules and regulations set by financial authorities. This presents a considerable risk to traders, as these brokers are more likely to engage in fraudulent behaviors that could result in financial loss.
Legal Warnings Against Athenaplace Finance Ltd.
Several organizations, including the Financial Conduct Authority (FCA), have issued warnings against Athenaplace Finance Ltd. The FCA warns that the broker operates without proper registration and authorization and advises traders to be wary of dealing with unregistered brokers.
Client Feedback About Athenaplace Finance Ltd.
About Their Trading
Traders who have had the opportunity to trade with Athenaplace Finance Ltd. have reported difficulties in executing trades. There have also been reports of their trading platform crashing, not allowing access to the market, or even forcing traders out of trades. Furthermore, traders have reported substantial slippage, meaning they get stopped on their trades before they can take profits.
About Their Customer Service
Traders have also reported problems with Athenaplace Finance Ltd.’s customer service. Support staff are often unresponsive, and traders have difficulty canceling trades and withdrawing their funds.
How Can Reviewsadvice Help You If You Get Scammed?
If you get scammed by this broker, you can contact us. We will evaluate your case and will provide you with a free consultation and service recommendations to help you in recovering the lost fund.
Final Thought
Athenaplace Finance Ltd. is a broker that should be avoided. The lack of proper regulation, legal warnings, and poor customer feedback all suggest that the risk of fraud outweighs the potential benefits of working with this broker. Traders looking for a reputable broker should always verify that the broker is regulated by a recognizable body before opening an account.
