Review of AmoTrader: mysterious broker with one-page website
AmoTrader offers services for speculative earnings and investing. When first visiting the website, one cannot help but notice the lack of information on trading conditions. The broker’s website features a certificate from CRFIN, which seemingly confirms its legitimacy. For a more detailed understanding, let’s review AmoTrader’s activities and client reviews.
About the Company
AmoTrader is a trademark registered in Saint Vincent and the Grenadines. The broker holds a license from CRFIN. Learning that the website was registered at the end of 2017, it becomes clear that the information about its age may be false.
The AmoTrader website is not very informative, requiring registration to access any information. Contacting support is only possible after registration.
Support is available from 9:00 to 19:00 GMT via a feedback form or email. You can also call a UK phone number.
Trading Conditions
The broker provides market access through a web platform without the need for additional software. There is no information available on the assets on the website, but clients have access to popular pairs with low investments.
Deposits and Withdrawals
To deposit funds, you can use credit cards, and profit withdrawal usually takes up to 7 business days. The withdrawal fee is $25 per transaction.
Payments and Fraud
The broker reserves the right to deduct funds without specifying reasons. Account blocking due to inactivity or fraudulent activity is also possible.
AmoTrader may withhold funds in case of profit from bonuses, account inactivity, or insufficient balance.
Reviews and Forums
Reviews of AmoTrader on trading forums indicate fraudulent activities and negative client experiences. The broker may block accounts or fail to withdraw funds.
Review Summary
Holding a license does not guarantee the honesty of the company. AmoTrader has drawbacks such as false information, inability to access information without registration, and numerous negative reviews.
Be careful when choosing a broker! Also read: Review of AllegraMarkets scam scheme and reviews of fraudulent broker.
I was utterly dismayed by my experience with AmoTrader. First off, their customer service was appalling, with e-mail queries and phone calls going ignored for days on end. What’s even worse is the blatant lack of transparency in their trading processes – hidden charges are a common occurrence. Their platform is not user-friendly either and is fraught with technical glitches. Furthermore, withdrawal processes are unnecessarily convoluted and time-consuming. My funds took weeks to reach my account, even after multiple follow-ups. I strongly advise caution: the issues I have seen point to the possibility of AmoTrader being a scam.