AtmosMarket reveals itself to us with a classic panoramic view of the world’s financial centers. The images have also undergone some kind of filter change, making them seem even more surrealistic. However, as soon as you scroll down, you get to see a contrastingly different shade to AtmosMarket that puts us right back on the ground and gives us the proper channel through which to view the broker. The opening images were just an illusion. Welcome to AtmosMarket, yet another shady brokerage.
The account creation tool is simple to complete, yet we could not set foot in the user area because our account has to be verified. In order for this to happen, the user must provide certain ID docs, and then wait up to 5 days. Moreover, we don’t trust AtmosMarket with our precious ID details, and neither should our users.
Therefore, we must rely on the site for all trading as well as payment details, because a user area is a no-go zone.
Speaking of the website, it turns out that AtmosMarket’s one is one of those that try to contain everything within a single page. We have seen this approach only been used by scammer brokers. This makes the entire info pool extremely limited and that more untrustworthy.
The home page discloses the following tradeable assets: forex currency pairs, spot silver, spot gold, indices, and cryptocurrencies. We have no spread or leverage details.
The website can be accessed in English and Chinese.
ATMOSMARKET REGULATION AND SAFETY OF FUNDS
We have two very misleading things to work with.
First of all, AtmosMarket claims to be registered with Canada’s FINTRAC, the nation’s national financial intelligence agency. There is no logical connection between this broker and the agency. Moreover, FINTRAC does not act as an FX regulator. This duty falls upon the Investment Industry Regulatory Organization of Canada (IIROC). Safe to say that IIROC does not regulate the company.
Next, we are given a blurry Financial Crimes Enforcement Network Department of the Treasury certificate that we can barely read. Here again, the broker suggests a very improbable relationship with a government agency that has nothing to do with licensing FX brokers.
We also gathered that the terms and conditions are only three pages long and are in a mixture of Chinese and English. This conveys a clear message that the broker does not care for the legal rights of the user. It’s also a mark of the scammer broker.
AtmosMarket is completely UNREGULATED, and a clear sign that it is a risk to all investments! All personal ID documents provided to the broker are also at a risk!
We find it completely useless to invest in an unregulated broker. All investments will be lost! Always rely on regulated brokers, either from the FCA or CySEC, or the CFTC/NFA, or any other trustworthy license issuer. All these overseers keep records of the brokers’ activities, demand from them reports, require to keep the market integrity stable, and above all, call for the safety and security of all users, their funds and personal details. The FCA and CySEC are special in that they offer client compensation schemes that are applied to users whose brokers cannot pay them back due to financial predicaments. CySEC offers a €20 000 refund amount per person, while the FCA guarantees up to £85 000.
ATMOSMARKET TRADING SOFTWARE
What we have here is nothing more than a promise of a trading software that is available only to those that are registered. We, as unregistered users cannot give you further information than that.
The way it has always been is that illicit brokers attach a very limited web trader, just so there is something there.
ATMOSMARKET DEPOSIT/WITHDRAW METHODS AND FEES
AtmosMarket is also guilty of having absolutely no payment information anywhere. There isn’t even a minimum deposit requirement anywhere. It’s usually $250, but one can never be entirely sure.
The most common payment methods center around credit cards, debit cards, bank transfers, a range of alternative payment methods, and crypto wallets.
Withdrawal conditions are unpredictable, however, fees are almost always there, be it for withdrawals or for other services. Scammer brokers at times include ridiculous clauses and other provisions that make the experience even less unbearable.
AtmosMarket has proven time and time again just how unlicensed and useless it really is. Do not waste your money and time here!
How does the scam work?
A fair number of fake online ads lead to scammer brokers, or to intermediary websites that introduce the scheme and its fake benefits.
From these ads, users get fooled into entering the broker site, which means that the ads themselves are very tempting, but over-the-top nevertheless.
The next thing that the scammer wants you to do it to give away your phone number or an email address. The idea behind this is for the broker to bridge the distance between itself and the user, in order to keep a closer eye on the user.
Through these contact mediums the scammer broker can easily harass the user and compel him or her to invest. It’s as simple as that.
These reps that keep contacting users are trained to shape the user’s choice and to manipulate. Their one and only goal is to initiate deposits, and to keep the make-believe scheme relevant. This is easily done by revealing profit gains (but never allowing for the user to withdraw it), by promising higher gains, or by simply being too charming to say no to.
We assure our readers that the broker will never allow a withdrawal to process. The client will be left to fend for her own.
What to do if scammed?
The user must rely on the payment systems to eventually get her stolen money back.
The safest bet is a chargeback procedure with the client’s credit/debit card provider. MasterCard and VISA have a chargeback period of 540 days.
If the money was lost through one or multiple bank transfers, users should, first and foremost, change the wire account user name and password. Next, the trader should contact the bank and create a plan of action.
All investments using a crypto wallet are lost. They cannot be traced and are thus the riskiest of all investments!
Users might come across recovery agents, who are nothing more than another brand of scammers. They ask a payment in exchange for returning all of your lost investments! If you pay them, you ill never see your money again!
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