Heard of Altawana forex broker? Is this broker a reliable or scam? Read Altawana reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About Altawana
Altawana otherwise known as Altawanafxmarket.com is an offshore brokerage with a lot of promises for forex traders. The forex company is based in Dubai.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Altawana Minimum Deposit
Altawana deposit is not specified anywhere on the website. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
On the website, the broker accepts only a BTC and USDT deposit methods. These methods are untraceable and risky.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
Altawana withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Altawana Platform:
Altawana offers industry-standard trading software MT5. While this platform is still very popular among traders, that does not change the risk around the broker.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
What We Discovered about Altawanafxmarket.com Broker
Altawana claims its address in Dubai. So, we tried looking up the broker on financial authority database. The local Dubai Financial Services Authority does not license Altawana, and the broker never actually claims to be licensed by it, nor by anything for that matter.
Altawana does not provide access to documentation such as Terms and Conditions or Client Agreement, as are required for financial service providers operating in more highly regulated jurisdictions.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Final Thoughts:
Altawana located at Altawanafxmarket.com claims to appear like a trustworthy trading broker, however, that cannot be trusted. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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