NOTE: AltimaTrade's Official Website: Https://altimatrade.pro/is Currently Not Accessible Normally.
AltimaTrade Information
AltimaTrade Is A Financial Company Registered In Saint Vincent And The Grenadines, Operating Offshore In The UK And Not Accepting US Clients. It Offers Trading Services In Forex, Commodities, Indices And Stocks. There Are No Free Demo Accounts, But There Are Four Tiered Accounts With An Initial Deposit Requirement Of $250. Leverage Is Up To 1:100 And The Broker Uses A Web-based Trading Platform.
However, The Company Is Not Effectively Regulated By Any Accredited Authority. In Addition, It Has Been Reported To Be Listed As Fraudulent In Spain, Italy And Belgium.
Regulatory Information
This Broker Operates Under The Effective Supervision Of Any Regulatory Authority. This Raises Questions About Its Legitimacy And Credibility, As Regulated Brokers Generally Adhere To Strict Industry Standards In Order To Protect Client Funds.
Disadvantages Of AltimaTrade
Website Is Not Available: AltimaTrade's Website Cannot Be Opened At This Time.
Regulatory Issues: The Company Does Not Have Any Regulation, Meaning It Does Not Comply With Any Regulatory Authority. This Increases The Risk Of Trading With It.
Lack Of Transparency: The Broker Does Not Publicly Disclose Trading Conditions Such As Spreads, Commissions, Etc.
Blacklisted In Multiple Countries: The Broker Is Reportedly Listed As Fraudulent By Multiple Regulators In Spain, Italy, And Belgium, Which Is A Worrying Red Flag.
High Minimum Deposit: The Broker Requires A Minimum Deposit Of $250 To Open An Account, Which Is A High Threshold For Many, Especially For Beginners.
High Withdrawal Fee Handling Fee: The Broker Charges A High Withdrawal Fee Of 50 Units For Telegraphic Transfer Withdrawals And 25 Units For Credit Card Withdrawals, Which Is A Large Part Of The Traders' Profits And A Considerable Burden For Them.
What Can AltimaTrade Trade?
AltimaTrade Claims To Offer Trading Services For More Than 2,500 Instruments, Mainly Covering Four Asset Classes: Forex, Commodities, Indices And Stocks.
Forex: Forex Is A Market For The Mutual Exchange Of Currencies Of Trading Countries Around The World, Promoting International Trade And Investment.
Commodities: Commodities Are Basic Commodities Used In Commerce And Are Interchangeable With Similar Commodities, Such As Oil, Gold, And Agricultural Products, And Are Usually Traded On Exchanges.
Indices: Indices Are Statistical Indicators That Represent The Performance Of A Particular Portfolio Of Assets, Such As Stocks Or Bonds, And Help Investors Evaluate Market Trends And The Health Of The Economy.
Stocks: Stocks Represent Ownership Shares In Large Companies (such As Apple, Tesla, Etc.), Allowing Investors To Participate In Their Profits And Losses.
Always Adhere To The Principle Of Diversification When Conducting Investment Activities, Allocating Funds To Various Products Rather Than Concentrating On A Single Product That You Feel Optimistic About.
Account Types/Leverage
AltimaTrade Does Not Offer Test Demo Account Accounts, But Offers Four Types Of Live Account Accounts: Mini, Standard, Classic, And Professional. The Minimum Deposit Requirements For Each Account Are 250 Dollars, 1,000 Dollars, 5,000 Dollars, And 10,000 Dollars, Respectively, Higher Than The Industry Average, Which Is Usually Below 100 Dollars.
The Minimum Trading Volume Is 0.01 Lots, And The Leverage Is Up To 1:100 For All Account Types.
Trading Platform
AltimaTrade Offers A Web-based Trading Platform With Basic Simplified Features. The Broker Claims To Have A Software Version Of The Platform, But There Is Actually No Download Link.
Deposits And Withdrawals
AltimaTrade Supports Payments Via Telegraphic Transfer And Debit/credit Card.
While The Broker Does Not Explicitly Specify A Minimum Withdrawal Amount, There Is A 50-unit Charge For Telegraphic Transfer Withdrawals And 25-unit Charge For Credit Card Withdrawals. And Withdrawals Are Said To Take 4-7 Days To Process. All Of This Is Typical Of Scam Broker Practices.
Customer Support
AltimaTrade Can Be Contacted Via Email And By Visiting Their Office In Person. But There Are No More Comprehensive Channels Such As Phone Calls, Social Platforms, Etc., Which Is Not As Expected.
Conclusion
In Conclusion, AltimaTrade Is By No Means A Recommended Broker. Its Unregulated Operation Means That There Is Less Adherence To Financial Rules, And Unavailable Websites Make It Impossible For Customers To Know About The Company. In Addition, The Lack Of Transparency And High Withdrawal Fees Account For A Large Part Of Traders' Profits. Worst Of All, It Is Listed As A Fraudulent Broker In Several European Countries.
Therefore, Never Have Any Dealings With A Broker Like AltimaTrade, Always Choose A Reputable And Transparent Alternative.
