Is Athens Markets Scam or Legit Broker?
No, Athens Markets cannot be considered a trustworthy broker due to its lack of regulation. The broker does not provide any information about its regulations and licenses, making it a risky trading option.
- The primary lack of unregulated or offshore brokers lies in their lack of proper regulation, which creates a significant safety gap. Engaging with offshore and unlicensed brokers, might pose a high risk of exposing traders to potential forex scam.
About Athens Markets
| 🏢 Registered in | No regulation |
| 🗺️ Type of License | No license |
| 🛡️ Is Athens Markets safe to trade? | No |
| 🗺️ Recommended Licenses | FCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
What is Athens Markets?
Athens Markets' website highlights its offerings, including access to a wide range of major currency pairs, CFDs, and commodities, all with competitive spreads. The platform also boasts a comprehensive set of real-time charting tools and trading indicators, enabling clients to analyze markets and make well-informed investment decisions. Additionally, Athens Markets provides access to the popular MT4 and MT5 trading platforms, boasts low fees, offers free educational resources, and ensures round-the-clock customer support.
However, there are some important facts we were able to reveal that will make traders second-guess their decision to sign up with the broker:
- Lack of regulation: Regulation is one of the most important aspects in Forex trading to consider. Upon research, we revealed that Athens Markets is an unregulated broker. This means that the broker operates without adhering to any regulatory rules or guidelines, and can operate its business however it wants. This makes Athens Markets a risky choice for financial investments.
- Feedback from clients: When traders have doubts about a broker and its level of trust, it's a wise decision to consider reviews from real traders. Of course, even in this case it is important to be very careful, as there are many fabricated reviews that might put an unregulated and untrustworthy broker in a good light. With mixed reviews of very good and an abundance of very poor reviews, Athens Markets gives space for consideration. In fact, there are many reviews pointing out problems with the withdrawal process, and insufficient customer support.
- Withdrawal problems: It seems like one of the main problems is the insufficient withdrawal process. Clients complain about the lack of withdrawals. They claim that in many cases their investments are either impossible to withdraw or they are simply not shown on the account.
Overall Athens Markets Ranking
Through research, we have identified significant concerns regarding the trustworthiness of Athens Markets and its adherence to regulatory standards. Consequently, we cannot issue a favorable rating for Athens Markets.
- Athens Markets Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.
| Ranking | Athens Markets | Eightcap | Admiral Markets |
|---|---|---|---|
| Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
| Is Broker safe? | No | Yes | Yes |
| Advantages | None | Trading Instruments | Trading Conditions |
Athens Markets Alternative Brokers
Considering the concerns surrounding Athens Markets reliability and security, we highly recommend traders to explore alternative options that provide more stringent regulations and enhanced trading conditions. Below is a list of reputable brokers offering trustworthy choices and a secure trading environment for your consideration:
- Eightcap– Low Pricing
- HFM– Competitive Trading Conditions
- FP Markets – Wide Range of Trading Instruments
Deposits and Withdrawals
Athens Markets supports deposits using BTC, ETH, USDT ERC20, and UDSC ERC20. Logging into the client area, traders should click on the “deposit funds” and then select the currency they wish to deposit with.
- The only available option for deposits seems to be Bitcoin.
- Unfortunately, there is not much information on deposits and withdrawals on the broker's website.
- Many clients complain about problems with withdrawal. Traders get scammed through crypto wallets.
Account Types
Athens Markets offers two account types to its clients: Athens Pro and Athens Standard. Each account type offers different trading conditions. The broker states low spreads and commissions, however, traders point out that the spreads are higher than the market average, and commissions are exceedingly high.
- The broker does not mention the available leverage for the accounts.
- There is limited information on the account conditions and features, which is a problem, as traders do not know what to expect from the broker.
Athens Markets Review Conclusion
Based on the data we have gathered about Athens Markets, there are considerable reservations concerning the broker's trustworthiness and credibility. The broker's lack of registration raises substantial concerns. Additionally, the numerous negative client reviews should not be disregarded. It is always advisable to give preference to tightly regulated brokers with good standing in the market and good and transparent trading conditions.
To avoid risks typical in trading with unregulated or offshore brokers, we always recommend choosing a reliable broker that holds licenses from reputable authorities like FCA, ASIC, or CySEC. There are many regulated brokers that are both reliable and have exceptional offerings, such as BlackBull Markets, Go Markets, and HYCM.
- Overall ranking and experience for Athens Markets is Negative
