Should You Risk It?
Online trading has become increasingly popular, so there are many brokerage firms all over the place. Everyone has access to this technology, and it advances quickly. Therefore, it’s easy to get set up with a broker and use it whenever you need it.
Many people prefer to work with a brokerage firm. Since it’s so easy to set it up, it’s clear to see how saturated the market has become.
However, some brokers are better than others. They have great training materials, a friendly user interface, and the right technology. These are the top choices and have become the best names in the market.
You may not want to use a giant corporation of brokerages, though. Therefore, you’re looking for a smaller alternative that’s legit and still has what you require. Apptrader is one of the ones that recently popped up. There are plenty of successful options out there, but our goal is to help you find out if Apptrader is worth your time.
AppTrader has been identified as an unreliable broker, and you may not use it if you want to make legit investments on any asset. Thankfully, you may register to our best alternative, this broker, was carefully tested by our team and labeled as reliable. Create your account through TrustPedia here!
Apptrader offers both, but it doesn’t tell you which operating systems work with it, such as Android devices or iOS. With no distinction available, we feel that Apptrader has a red flag here.
However, with the site, you can trade various things, such as indices, Forex, commodities, and share. However, one significant thing is missing from the list – cryptocurrency!
On top of that, the company doesn’t offer an updated newsletter or have a blog section. We think that’s a shame because those two things can create engagement and provide more information. Therefore, we are left to question the quality of Apptrader as a broker.
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Opening an Account with Apptrader
This is the case with Apptrader. It often takes a few hours to get your account set up because you need to send in ID and various documents. With Apptrader, you can start trading immediately. That’s good for people who want to move fast, but we don’t feel there is any trust involved at all.
There are two account options available. The demo account lets you practice making trades to learn about the system. This is a good point, and we were happy to see it. Then, you have the real account. We aren’t sure what you get for that, such as account managers or signals. It doesn’t really explain it to you. However, we did find that basic account access requires a deposit of $250. That appears to be the norm for brokers, and you can add funds with cards containing a Visa and MasterCard logo, as well as Western Union or a wire transfer.
Analytical Tools for Apptrader
Each day, the broker puts out different videos on various points of analysis. We aren’t sure that’s very helpful, but it is interesting, to say the least. Still, our concern is why the company makes so many videos without maintaining a blog.
There are also various signals to consider. Every broker offers this, regardless of the one you choose. However, it is nice to note that Apptrader does this.
We did like that the site offered information about daily financial news and calendar outlining. That way, you can see the upcoming events in the economy. Those who are exploitative in their endeavors may find those to be useful.
Since it’s an industry standard, you expect Apptrader to offer it, and it does. A sound education library ensures legitimacy compared to the scam traders. However, we must say that the quantity of training materials is quite good on the site. As for quality, we aren’t so sure.
Right in the middle of all that, you see a video guide from the broker about cryptocurrency. That’s nice to have, but the material itself is average. On top of that, we aren’t sure why Apptrader included it since it doesn’t offer crypto trading at all. Maybe it plans to add crypto in the future (which is a good thing). Though it’s not necessarily a red flag, it was unusual, and we wanted to point it out to you.
We do find that Apptrader excels with its Forex guides. While it is a lot to handle and take in, there is a course on MetaTrader (the platform it uses).
These materials are divided into various topics and broken down for beginners and advanced traders. Plus, we liked the videos pertaining to basic terminology. You need to know what those words mean so that you understand what’s being said elsewhere in the training material.
Where Apptrader fails, though, is that there aren’t many eBooks on the site. We did find a few on CFDs, Forex, and cryptocurrency. Again, we’re confused about the educational videos on crypto when it isn’t offered by the broker.
Apptrader claims that it offers webinars twice a week. We were impressed initially, but there was never a mention of when those webinars took place. When we were able to find a few, we realized that they’re all about the same topic and very vague. All it talks about is trading strategies, and it doesn’t even go in-depth to discuss the ones you may want to use. This is a huge red flag to us.
Trading Options Available on Apptrader
Yes, most brokers specialize in something specific, but this one seems to cover everything but the most important one. While it’s a glaring omission, we pair that with the fact that there’s educational/training material about crypto without being able to do anything with that knowledge.
Apart from that, there isn’t much to say about the trading you do through this broker. There are the big ones, such as Tesla and Apple. Plus, you have the usual commodities and the top CFDs.
With that said, we feel that there are better trading brokers available. You shouldn’t put everything in one stock or commodity, but it’s nice to have a centralized account to use when trading. Instead of choosing Apptrader, consider regulated and trustworthy brokers. They offer crypto and work in conjunction with the top auto-trading robots, including Bitcoin Prime and The Bitcoin System.
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With so many red flags already pointed out, we decided to focus on the legal information behind this brokerage. There shouldn’t be any shock that they weren’t the best.
Apptrader is not regulated by any agency. This is the biggest of all red flags and should make you immediately wary of the broker. With that information, you know something is wrong and should stay away from it.
We know that some people aren’t familiar with regulations, so they aren’t convinced it’s a bad thing that Apptrader doesn’t have it. Let’s dive in a bit more.
Though Apptrader lists that it is registered in the Grenadines, which is real, it’s not regulated. This small Caribbean island is considered an offshore account. Why is that important, though?
That small country doesn’t regulate anything within the trading markets. In a sense, the brokerage can do whatever it wants. The license Apptrader carries is a fraud. The company does offer trading throughout the world, which is also a red flag. Still, there’s no legal license to do this.
Without that, we have to say that Apptrader is a full scam. Please do not invest money using this broker.