Abtrade Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Although it offers attractive trading conditions, ABTrade Pro appears to be an unregulated Forex broker and lacks sufficient credibility and information to assess its reliability and security. To avoid any potential risks and losses, we recommend that you choose a regulated and reputable Forex broker to trade with.
Abtrade has garnered considerable attention in the forex trading community, but its reputation is a mixed bag. While the platform offers various trading instruments and account types, it raises significant concerns due to its lack of regulatory oversight. This review aims to provide a comprehensive overview of Abtrade based on recent findings, highlighting both its advantages and potential pitfalls.
Note: Abtrade operates in a region with minimal regulatory scrutiny, which is a crucial factor to consider for traders seeking safety and accountability in their trading activities.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 4 |
| Customer Service and Support | 6 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 4 |
We base our ratings on a combination of user feedback, expert analysis, and available information on the broker's operations.
Founded in 2020, Abtrade is registered in Saint Vincent and the Grenadines, a jurisdiction known for its lenient regulatory framework. This offshore location raises significant concerns about the safety of traders' funds and the overall reliability of the broker. Abtrade claims to offer a wide range of trading instruments, including forex, commodities, stocks, indices, and cryptocurrencies. However, it does not provide access to popular trading platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5), instead opting for the cTrader platform, which is still under preparation.
Abtrade is not regulated by any recognized financial authority, which is a major red flag for potential investors. According to various sources, including PediaFX, this lack of regulation means that traders have no legal recourse should issues arise, making it a risky choice for anyone looking to invest.
The minimum deposit required to open an account with Abtrade is $100, which is relatively low compared to many other brokers. However, there is limited information on withdrawal methods and associated fees, which can be a significant concern. Users have reported issues with fund withdrawals, with some claiming they faced delays or were unable to access their funds entirely.
Abtrade offers a variety of account types, including Standard, Silver, Gold, VIP, and ECN accounts. The minimum deposit requirements vary, with the Standard and Silver accounts starting at $100, while the ECN account requires a minimum of $10,000. However, the spreads offered, particularly for the Standard account, are notably high, starting from 14 pips, which can significantly impact trading profitability.
The trading costs associated with Abtrade are concerning. The spreads are generally high, particularly for the Standard account, which starts at 14 pips. This is considerably higher than many regulated brokers, which can offer spreads as low as 0.1 pips. Furthermore, the lack of transparency regarding commissions and fees raises questions about the broker's overall cost structure.
Abtrade offers leverage up to 1:300 for most accounts and up to 1:400 for the VIP and ECN accounts. While high leverage can amplify potential profits, it also significantly increases the risk of substantial losses, particularly for inexperienced traders.
Currently, Abtrade is in the process of implementing the cTrader platform, which is known for its user-friendly interface and advanced trading features. However, the lack of availability of more established platforms like MT4 or MT5 could deter some traders who prefer those environments.
On a positive note, Abtrade claims to provide 24/7 customer support through various channels, including email, live chat, and social media platforms. However, the effectiveness of this support has been questioned, with some users reporting difficulty in getting timely assistance.
The overall user experience with Abtrade appears to be mixed. While some users appreciate the variety of trading instruments offered, many have expressed dissatisfaction with the high spreads, withdrawal issues, and lack of regulatory oversight. According to WikiFX, the broker has received a low trust score, indicating significant concerns regarding its reliability.
In summary, while Abtrade may seem appealing due to its low minimum deposit and range of trading instruments, the lack of regulatory oversight and high trading costs are significant drawbacks. Potential traders should exercise caution and consider opting for regulated brokers with established reputations to ensure a safer trading environment. As always, it's essential to conduct thorough research and due diligence before committing any funds to an online trading platform.
