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Traders Reviews

United Kingdom,
Jan 22, 2018,
Registered user

Not actually traded with them live (I did on their demo) or deposited so no rating. What I did discover whilst looking at them is they claim to be a company called "ATEH Kaisya" in Japan, my wife is Japanese so checked them out and no such company exists. On contact they claim to be a company called "Advanced Technology" in Russia regulated by the FSFM Russian regulator. I had a friend look at it (I don't speak Russian) and they were sceptical. Anyhow all the T&C's refer to ATEH (the Japanese "company") so that's the only one I care about.

Would not stop talking about an "analyst" trading my account as an answer to any normal question a trader with any experience would ask a potential broker / platform provider. I kept telling them I would never allow anyone to trade my account. Then after a lot of e-mails saying this they got it. Then getting back to the actual questions about the trading account, answers were just nonsensical. Simple questions like what happens for a flat trade (strike = expiry) and you get things like the trade gets "reborn".

When asking about their dispute procedure should there be a dispute they responded that none was needed as all prices come from the ECB (European Central Bank provide tick price feeds to brokers - I don't think so). Then they did have a written dispute procedure but could not show me as it is an internal confidential document.

When mentioning that there was a 7% "commission" on any withdrawals I said it's the first time I've seen this. Response was this is industry standard and low compared to others. I asked for some examples and told they won't tell me as that would be advertising their competitors. I said I'd sign a document saying I would never sign up to any companies they provided which charge a % of withdrawals but never got a response. I would have thought it was good marketing to say X broker charges 15% to withdraw your funds and we only charge 7% as claimed.

On some assets the strike price shown to trade and the graph is 1 digit less than the actual strike / expiry price and you can't see the extra digit until the trade expires. As they are a new site, thought I'd help them out and provide screen shots to explain and all I got was that it's just a "personal preference" on my part. Kept telling them I don't care as long as I can see the strike price I'm trading at the time I trade and before the trade expires (fairly basic requirement).

From the above and various red flag in communications with them I conclude their representatives have no trading or markets knowledge at all.

All e-mails come from their representatives via gmail accounts (if that's not a red flag I don't know what is).