Ameri1xtrade is an anonymous broker with an unspeakable name offering the unthinkable 1:2000 leverage and some fishy trading plans alongside the classical accounts. Well, people should know that 1:2000 actually transforms trading into gambling and the position opened becomes an all-or-nothing option. Other than that, the broker shows too much evidence of a scam, and we are going to share what we found about this broker in the full Ameri1xtrade review.
Ameri1xtrade REGULATION AND SAFETY OF FUNDS
Ameri1xtrade pretends to be regulated by IFSC in Belize and the independent non-governmental organization The Financial Commission, but that’s not true. The broker is enlisted by neither of them, so it’s fraudulently claiming to be licensed to make itself looks legit. Well, it’s not, and Ameri1xtrade is actually the next suspected scam we are going to review. Still, they declare to be headquartered in Australia, but the address they provide is fraudulent because no such entity can be found there. Eventually, Ameri1xtrade is a totally anonymous unlicensed broker pretending to be regulated, so your funds will be in danger if you deposit. It’s indeed a scam scheme, and we are going to prove it later in the review.
Avoid Ameri1xtrade and see the high-rated EU brokers and British brokers on both lists instead. The European FX companies are regulated and covered by deposit insurance funds protecting traders’ money if things go wrong. For example, when trading with a CySEC broker, you can claim up to 20 000 EUR in case of bankruptcy, while the British guarantees are up to 85 000 GBP per person. The deposit insurance funds grant extra protection, so it’s a no brainer if you are eligible to open accounts with Europeans.
Ameri1xtrade TRADING SOFTWARE
So, now we are going to explain why we firmly believe that the so-called broker is a scam. They claim to offer MetaTrader4 and MetaTrader5 but can’t really deliver any of the distributions. In fact, Ameri1xtrade has no platform whatsoever, can’t provide any Forex services and the excessive leverage mentioned in the Intro, but asks for deposits. Those things considered, we can announce that the broker in question is nothing else but a scam, so you should avoid it.
While speaking of software, we’d like to offer the high-rated MetaTrader4 brokers and MetaTrader5 brokers on both lists while talking about software. The MTs are market leaders packed with advanced features such as Expert advisors, many indicators, and excellent charting tools. The software also includes a marketplace with more than 10 000 apps and third-party developed solutions, which is an unrivalled advantage. Interestingly, MT5 surpassed MT4 for the first time in terms of brokers offering the platform, but its trading volumes are still lower.
As there is no platform available, there are no real-time spreads and leverage to discuss. Nevertheless, we are going to pay attention to the fake 1:2000 leverage offer. About this ratio, it’s so dangerous that you can lose all your funds and even get indebted in a matter of seconds.
In fact, as leverage can be utterly risky, it’s been a subject of regulatory restrictions for quite some time. For instance, due to regulations, licensed EU, British and Australian brokers have to limit retail clients to 1:30 for FX majors, while Canadian brokers and US brokers to 1:50. Swiss brokers are trustworthy but not leverage restricted, so experienced and risk-tolerant traders eligible to open an account in Switzerland can safely go for it.
Ameri1xtrade DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit is 100 USD, which is pretty much in line with the industry. However, this is a scam, so you shouldn’t deposit even a dollar with those charlatans. Instead, you’d better follow the links provided throughout the review and find a better broker.
The single funding method is Bitcoin, which shows that Ameri1xtrade apparently doesn’t want to deal with chargebacks because the cryptocurrency payments are final and non-refundable. In fact, Bitcoin transfers are totally anonymous, and you have absolutely no idea who’s on the other side. Alternatively, it’s always better to fund Forex accounts via Credit/Debit cards because it’s possible to dispute transactions and restore your money for up to 540 days.
Nevertheless, see our lists with Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have a preferred e-wallet or a trusted payment system. The high-rated companies are well-regulated, and you won’t face scammers, so you can safely open accounts.
As for withdrawals and fees, there is nothing. That’s because the so-called broker doesn’t even provide legal documentation, which further confirms it’s illegal and fraudulent.
Overall, Ameri1xtrade is a scam we just exposed, so you should stay away.
HOW DOES THE SCAM WORK
The scam usually starts with the deceitful ad, the cold call or the fraudulent social media profile, and once you get enticed, you’ll be constantly manipulated by the con artists. In most cases, the scammers will claim to manage your account and will show you winning trades at the beginning to make you believe it’s worth dealing with them. By doing so, they aim to gain your confidence and trust, which helps them in the following stages.
From there on, scammers won’t let you withdraw profits but will constantly urge you to invest, again and again, asking for much greater sums. Make no mistake about it; those criminals will try to squeeze as much as possible from you, so they’ll advise you to put all of your savings in the scheme.
You’ll probably understand what’s going on as soon as you try to get your money back. At this point, scammers will try to persuade you not to do so and will even shamelessly say that you can’t withdraw unless you deposit once more. If you are persistent and refuse to follow their instructions, they will simply cut the communication and close your account. Then, whenever fraud becomes publicly exposed, scammers will abandon the website and create new ones, carrying on with their criminal activities.
WHAT TO DO WHEN SCAMMED
Unfortunately, no one is immune to scams. If you get scammed, the first thing you need to do is to consider the secondary risks. Deactivate your credit card and contact your bank and ask for advice.
Then, report what happened to you, file a complaint, contact the authorities, call the police if you feel necessary. Seek help actively!
Remember, it’s crucial not to rush blindly to recover funds because fraudulent chargeback agencies and individuals are stalking, trying to double scam the victims. They ask for upfront payment, take the money but won’t do anything to help you!
Share online your experience; it’s important to protect others, too. Be responsible
The post Ameri1xtrade review – 5 things you should know about ameri1xtrade.com appeared first on TheForexReview.com.