ApolloFinances foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://apollofinances.com/register, about the company's legal and temporary regulatory information, the company's address Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960.
ApolloFinances Forex Broker
Basic Information
Marshall Islands
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
PLATINUM
GOLD
Apollofinances Forex Broker - Complete Information Guide
1. Broker Overview
Apollofinances, founded in 2021, is a forex and CFD broker that operates under the ownership of MGX Consalt Group Ltd. The broker is headquartered in the Marshall Islands, a location known for its lenient regulatory framework, which has attracted many offshore brokers. Apollofinances primarily targets retail traders, offering a range of trading instruments including forex pairs, commodities, and indices.
Since its inception, Apollofinances has aimed to provide a trading platform that is accessible and user-friendly for both novice and intermediate traders. The broker's development has been marked by the introduction of various account types and trading features that cater to the diverse needs of its clients. However, it is essential to note that the broker does not operate under any major regulatory authority, raising concerns about the safety and security of client funds.
The business model of Apollofinances revolves around retail forex and CFD trading, offering clients access to a variety of markets while leveraging technology to enhance the trading experience. The broker's platform supports multiple languages, which allows it to cater to a broader audience across Europe and Asia.
2. Regulation and Compliance Information
Apollofinances is not regulated by any major financial authority, making it an unregulated offshore broker. The absence of regulation means that clients do not have the same protections as they would with regulated brokers, such as those overseen by the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC).
The broker operates under the jurisdiction of the Marshall Islands, where financial markets are not subject to strict regulatory oversight. Consequently, there are no investor compensation schemes in place, and client funds are not guaranteed. The lack of a regulatory framework raises significant risks for potential investors, as there is no accountability for the broker's operations.
Apollofinances claims to adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations; however, the effectiveness of these measures is questionable given the broker's unregulated status. Clients should exercise extreme caution when dealing with Apollofinances due to the potential risks associated with unregulated trading environments.
3. Trading Products and Services
Apollofinances offers a diverse range of trading products, primarily focusing on forex and CFDs. The broker provides access to over 100 trading instruments, including:
- Forex Currency Pairs: The broker supports a variety of currency pairs, including major, minor, and some exotic pairs.
- CFDs on Indices: Clients can trade contracts for difference on major global indices, such as the S&P 500 and FTSE 100.
- Commodities: Apollofinances allows trading in commodities like gold and oil, providing opportunities for investors looking to diversify their portfolios.
- Stocks and Futures: The broker also offers access to stock CFDs and futures contracts, catering to traders interested in equity markets.
However, it is important to note that cryptocurrency trading is not available at Apollofinances. The broker frequently updates its product offerings, but specific details regarding the frequency and nature of these updates are not publicly disclosed.
The broker primarily serves retail clients, providing basic tools and resources for trading. While there are no specific institutional services or white-label solutions mentioned, the broker's offerings are designed to accommodate the needs of individual traders.
4. Trading Platforms and Technology
Apollofinances predominantly uses the MetaTrader 4 (MT4) platform, a widely recognized trading platform known for its robust features and user-friendly interface. The MT4 platform supports various trading strategies, including automated trading through Expert Advisors (EAs).
The broker does not currently offer MetaTrader 5 (MT5), which limits some advanced trading features available on newer platforms. However, the MT4 platform is accessible through:
- Desktop Applications: Available for both Windows and Mac operating systems.
- Web-Based Trading: Clients can access the trading platform through their web browsers, making it convenient for users who prefer not to download software.
- Mobile Applications: The broker offers mobile trading apps for both iOS and Android devices, allowing traders to manage their accounts on the go.
In terms of execution models, Apollofinances does not clearly define whether it operates on an ECN, STP, or Market Making model. The broker's server infrastructure is located in the United States, which may impact latency for international traders.
Additionally, Apollofinances supports API access and automated trading solutions, enabling clients to develop and implement their trading strategies efficiently.
5. Account Types and Trading Conditions
Apollofinances offers four main account types, each with distinct features and requirements:
- Bronze Account:
- Minimum Deposit: $250
- Leverage: Up to 1:100
- Spread: From 2.8 pips
- Silver Account:
- Minimum Deposit: $2,000
- Leverage: Up to 1:200
- Spread: From 2.5 pips
- Gold Account:
- Minimum Deposit: $10,000
- Leverage: Up to 1:300
- Spread: From 1.5 pips
- Platinum Account:
- Minimum Deposit: $50,000
- Leverage: Up to 1:400
- Spread: From 0.1 pips
- Bank Transfers
- Credit and Debit Cards
- E-Wallets
- Email: Clients can reach out via support@apollo-finances.com.
- Phone: Contact is available at +44 203 097 4723.
- Online Contact Form: A form is available on the website for inquiries.
The broker does provide a demo account option, allowing potential clients to practice trading without risking real capital. The minimum trade size varies by account type, and overnight fees are applicable depending on the positions held.
6. Fund Management
Apollofinances supports several deposit methods, including:
The minimum deposit requirement starts at $250 for the Bronze account. Deposits are typically processed quickly, allowing clients to start trading without significant delays.
However, clients should be aware of potential deposit fees, which can vary based on the payment method used. For withdrawals, the broker charges a standard fee of $20 for bank wire transfers over $500. Withdrawals below this amount incur a fee of $25.
Withdrawal processing times can take 2-3 business days, with the entire process potentially taking up to seven days for funds to reach the client's account. Given the broker's unregulated status, clients may face challenges when attempting to withdraw funds.
7. Customer Support and Educational Resources
Apollofinances provides customer support through various channels:
However, the broker does not offer live chat support, which could enhance accessibility for clients. The support teams responsiveness is generally acceptable, but the lack of specific service hours may lead to delays in addressing client concerns.
In terms of educational resources, Apollofinances offers limited materials. There are basic tutorials and information about the trading products available, but no comprehensive educational programs, webinars, or market analysis services are provided. Clients looking for in-depth training or market insights may find this lacking.
8. Regional Coverage and Restrictions
Apollofinances primarily serves clients in Europe and Asia, with a focus on markets where retail trading is popular. However, the broker does not accept clients from the United States, which limits its reach in one of the largest trading markets globally.
The broker operates under the jurisdiction of the Marshall Islands, with its main office located there. Due to its unregulated status, clients should be aware of potential restrictions and risks associated with trading through an offshore broker.
In summary, while Apollofinances offers a range of trading products and features, potential clients should exercise caution due to the lack of regulation and the associated risks. The broker's offerings may appeal to some traders, but the absence of investor protections is a significant concern.
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Latest Reviews
Jerry
United Kingdom
ApolloFinances, a typical offshore broker, featuring “three highs”, high spreads, high leverage, high minimum deposit. Yes, all they want is your loss and money, and this is where their income come from.
Positive
2023-02-16
静心11773
India
Haven't come across a Broker with such an amazing personalized customer service. No matter what problems I met during my trading process, customer support staff would promptly come to help me. I was also impressed by its low fees, even lower than some big brokerage firms. Therefore, I would sincerely recommend this broker to your guys, especially for beginners and for those who is looking for low trading cost.
37130
2023-03-23