Athens Market Review – Details About This Anonymous Trading Scam

 

 

This broker is part of the group Athens Markets LTD registered in the British Virgin Islands. They exist since 2022 and should comply with the country’s FSA regulations.

They provide FX and CFD trading services with a trusted MT5 trading platform. However, from experience, we know that offshore companies are always speculative. Their goal is often to hide something or to be below the radar. Read our Athens Markets review to learn more.

On top of that, we seriously recommend you not to invest in the fake brokers Cryptics, Monfex, and WinGroup. Do not trade with these unlicensed brokers if you want to save your money!

Broker status: Unregulated Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites: Athensmarkets.co
Blacklisted as a Scam by: N/A
Owned by: Athens Markets LTD
Headquarters Country: British Virgin Islands
Foundation year: 2022
Supported Platforms: MT5
Minimum Deposit: N/A
Cryptocurrencies: YES – BTC, BNB, ETH
Types of Assets: Forex, Commodities, Indices, Shares, Cryptocurrencies
Maximum Leverage: N/A
Free Demo Account: Yes
Accepts US clients: Yes

Is Athens Markets a Fraudulent or a Safe Broker?

First, in any trading business customers are looking for the safety of the funds. It can only be provided with regulation. Therefore, we checked the domestic regulatory body, FSA from the British Virgin Islands. The results were disappointing and we can confirm that they don’t have a license for trading FX and CFD markets.

Second, we are always checking Tier 1 regulators. Those are the most trusted ones all over the world. That’s why companies tend to have those licenses besides domestic ones. Unfortunately, we couldn’t find any information in FCA, BaFin or ASIC database about the Athens Markets broker.

Athens Market is a broker that doesn’t provide clear trading and basic conditions. A fresh company without any reputable background from the British Virgin Islands. On top of that, they don’t have a license for that business from any regulator.

Reasons for Using a Regulated Broker for Trading

With a regulated broker, you know that conditions presented on the website and platform will be served. There is no doubt about it. Whether it’s about trading conditions, general or withdrawal policies everything needs to be according to the regulation.

Otherwise, companies are risking their license. No regulated company would like to lose a license for a business that is making millions.

As we mentioned earlier, offshore companies tend to hide information. They don’t provide anywhere what platform they are using. After a lot of digging, we found that they are using MT5. There was no logical reason why not to disclose that information since that is the most trusted trading platform.

The platform itself provides a wide range of features. From advanced charts and indicators, social and EA trading, copy trading and many more.

Apps for Mobile and Tablet

MT5 app can be downloaded on any device. It’s especially important to be available on a phone or tablet. Many traders are sometimes caught off guard by some good trading deal. Therefore, you need to act quickly. For any Android or iOS device, MT5 can be downloaded through the platforms store.

What Financial Instruments Does Athens Markets Include?

Athens Markets trading broker offers a very solid range of financial instruments. They offer:

  • Forex
  • Commodities
  • Indices
  • Shares
  • Cryptocurrencies

CFD trading is overall dangerous, but with leverage that you don’t know it’s even worse. That’s the situation with the Athens Markets broker. Even though they have a trusted platform, that doesn’t mean anything if the broker is a bogus scam.

Athens Markets Service Countries 

For any Athens Markets review that we checked, we could find some customers that were not satisfied. The ones that were not happy with their service are coming from:

  • US
  • Canada
  • UK
  • Netherlands

It’s not excluded that some other countries like Mexico, South Africa or European countries are involved in this scam. Therefore, wherever you are coming from, be careful!

Athens Markets Types of Accounts – An Overview

Athens Markets Types of Accounts

Compared with some other trading companies, Athens Markets broker has a very poor choice of account types. They are offering only:

  • Athens Pro
  • Athens Standard

The Standard account has unfavorable trading conditions starting with spreads from 1.5 pips, while the Pro has from 0.01 pips. On the other hand, the Pro account has flat-rate commissions and the Standard account has zero commissions.

To sum it up, nothing spectacular. Leverage is not mentioned anywhere, therefore expect the unexpected.

Athens Markets Free Demo Account?

Any company that has MT5 often offers a demo account. This is a great thing with Athens Market. But on a demo account, you are playing with virtual funds. It’s nothing similar when you are trading your own money.

Athens Markets Bonuses

According to any regulation, bonuses are not allowed. Looks like Athens Markets only follows this one rule. At least there is nothing mentioned on their website. However, it’s not excluded that during trading with them, you get an offer for a bonus as a standard luring trick.

Athens Markets Deposit and Withdrawal Policies

Unfortunately, this broker doesn’t provide any information about depositing methods. The only available option according to the FAQ section is Bitcoin. Usually, the company offers a card or wire transfer but that is not the case with Athens Markets.

From many Athens Markets reviews we saw that people got scammed only through crypto wallets. They were not releasing money that clients made.

Why Do Scammers Prefer Cryptocurrencies? 

The only reason why scammers prefer cryptos is traceability and encryption. Crypto transfers are the riskiest option available simply because you don’t have proof of that transaction. If you get scammed, you don’t have anyone to contact. That’s another reason why you should look for licensed companies.

Athens Markets Terms and Conditions 

Trading conditions, even unclear like with Athens Markets are questionable. With this offshore broker, everything is hearsay. Therefore, we wouldn’t trust their conditions at all. They don’t provide leverage details, withdrawals policy or anything else.

Scammed by an Athens Markets Broker? – We Want To Hear Your Story. 

We know it’s hard to admit that you were scammed. That is the only way to prevent these scammers to do this relentlessly. Share your story with us today. Our expert team is doing funds recovery for years and they are willing to provide you with a free consultation. Book yours now!

What Is the Chargeback Procedure?

It’s a transaction reversal process on card purchases. However, if you were doing a crypto transfer it’s a bit harder, but not impossible. Our expert team has access to the CipherTrace program. To hear what is it all about, contact us today!

What Is Athens Markets?

This is a non-licensed broker that offers FX and CFD trading. They are registered in the British Virgin Islands since 2022.

Is Athens Markets a Scam Broker?

Yes. According to all reviews, they are not providing their clients with withdrawals and money they made on the market.

Is Athens Markets Available in the United States or the UK?

There is no confirmation for any of these. However many Athens Markets reviews are indicating that they offer services to both countries. Even though, they mention on the website they don’t offer to US clients.

Does Athens Markets Offer a Demo Account?

Yes. One of the few good things about this broker is a demo account. You can see firsthand why not trade with them.

 


 

The views and opinions expressed in these articles are those of the source ForexIndustry.com and do not necessarily reflect the official position of ‘Holy Smoke!,’ which shall not be held liable for any inaccuracies presented. The information provided within this article is for general informational purposes only. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose.

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