Amazing Trade Review – The Problems with the Broker

Amazing Trade Review

If you are considering engaging in online trading, you should be aware that you first need to sign up with a broker to do so. This sounds easy enough because you just need to run a search on Google and there will be a list of companies for you to choose from. But, this does not mean that all of them are offering you the same services.

You obviously want to have the best trading experience and this can only happen when you choose the right broker. Unfortunately, this is where people make mistakes and open an account with the wrong broker, like this Amazing Trade review shows.

It is expected that every company would claim to offer you the most professional trading services and you would be tempted to open an account right away. You can look at numerous websites and they all have lucrative offers to draw you in, but this does not necessarily make them the perfect choice for you.

You have to consider your own preferences and priorities, but the most important thing to remember is that you have to stay safe from scammers that are active in the market.

Indeed, they are known for setting up scam platforms and you want to be able to navigate the huge number of companies that exist without falling for one of them.

Most people are aware of the existence of these shady and fraudulent companies, but they do not know how to identify them, which is one reason why they are able to fool so many people. You do not want to become another victim, so you need to make certain that there are no problems with the company you are opting for. How do you do that? The key is to check their offerings and not just believe what they tell you.

This is because they are good at creating a false impression, which Amazing Trade does quite well because it presents itself as a professional forex and CFD brokerage that has exceptional trading conditions, a great reputation and a variety of precious metals, forex currency pairs and cryptocurrencies. But, all of this is meant to cover up the problems that Amazing Trade has. What are they? You can find them below:

An anonymous website

Signing up with an online brokerage is a big decision because the company you choose will be entrusted with your personal information and your hard-earned money as well. Would you share this with just anyone? It is never wise to do so and you obviously need to do your homework before you decide to place your trust in a random company on the internet.

If it is not legitimate, you are going to end up losing everything and this is the scenario that you want to avoid.

Therefore, the first step you need to take when you are looking for a broker is to check their background and know exactly who you are dealing with.

You also need to ensure they are licensed and authorized to provide you their services, but all of this is very difficult to do with Amazing Trade because they are essentially an anonymous broker. You can go through their website and find absolutely no information about who the brokerage really is.

There is no corporate background, or address and no mention of the company that owns and operates Amazing Trade. As a matter of fact, you cannot even find a phone number to contact the broker if you need to.

Obviously, this also makes it clear that Amazing Trade does not have a license, which is enough for you to conclude that you are dealing with a scam brokerage. A genuine company would be open and transparent about their services and also have a legitimate license to provide their services.

Lack of Terms and Conditions

When you open an account with an online brokerage, they will require you to agree with some Terms and Conditions. These outline the relationship between you and the brokerage and works as a contract. It mentions the policies that are applicable, the charges and other relevant details.

Therefore, it is of the utmost importance that you check them out and ensure that you understand everything, so there are no problems later on.

The problem with Amazing Trade is that when you try to check out their Terms and Conditions, you will not be able to access them. This is a big issue because it means that you have to agree to them without knowing what they really are.

How can you agree to something like that? It would mean that you leave yourself vulnerable to exploitation because the brokerage can introduce any policy and claim that it was mentioned in the Terms and Conditions.

It is not something that an authorized and genuine company would ever do, but Amazing Trade could do because it is not licensed.

No trading platform

The trading platform is a crucial feature that an online brokerage offers because it is used for trade analysis and execution. While the MT4 trader is the one that Amazing Trade advertises, it does not really make a difference.

Yes, the MT4 is one of the leading trading platforms in the market and is known to have the top features and tools, but the problem here is that the platform offered at Amazing Trade is branded for another broker called Raynar Trade. It does not help either that this company has been exposed as a scam, which means that Amazing Trade likely falls in the same category.

Excessive leverage

Another major issue that you will encounter with Amazing Trade is that the broker advertises leverage ratios as high as 1:500. While you may find them attractive, you should remember that they are considered very dangerous and most regulatory jurisdictions have limited the leverage that can be offered to retail traders. But, these ratios go way beyond and this is another indication that the company does not have good intentions.

Ending Thoughts

The problems that you discover about Amazing Trade make it apparent that the company is not one you want to use at all.