Anytrades experience so far

By A, from United Kingdom, May 14, 2020 at 09:54 AM

I’ve been trading with anytrades so far, and it’s been great. At least a weekly call with the portfolio manager and watching the account grow. I’ve been told I’m close to platinum level status and there is a bonus package by adding funds this month. I suggested adding £20,000 this month and the bonus package would be £15,000 and a 15 day protection of the account for refunds of any trades resulting in a loss. I haven’t invested any more money yet. It’s sounding too good to be true to be honest. And after previous experiences of scams I’m worried this could be the same. I don’t want to be in a position where I’m losing money due to not doing my due diligence. They are registered with the Vanuatu financial services- but I’ve read some bad reviews about this financial service authority. Can anyone help? Thanks

Answer: Hi A,

Yes, you are completely right that offshore brokers registered in Vanuatu should be avoided. Since the VFSC regulator does not require strict proof of the company background, nor check on the implementation of the secure fund management or operation guidelines, does not require regular reporting and further on never impose fines in case of the fraud operation.

There are a lot of concerns about AnyTrades Forex broker, starting with offshore license, following fake details that delude potential clients. But the biggest red flag is the absence of a license from a reputable and stable regulator. You can read our full AnyTrades review here.

We would recommend you to stop trading with this broker as you may get in trouble and won’t be able to withdraw your funds or even worse you will just lose all your investments.

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