Apel Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
Business
License
I made my deposit of $600, and they sent me an email saying that I could access, and after that I filled out some information where I was supposed to enter and it was not like that, they are abusers
In the ever-evolving landscape of forex trading, Apel has emerged as a notable player, albeit with significant controversies surrounding its operations. Most reviews highlight the broker's unregulated status and raise serious concerns about its legitimacy. Users have reported a range of negative experiences, including difficulties in withdrawing funds and a lack of transparency in trading conditions. Notably, Apel does not utilize popular trading platforms like MT4 or MT5, opting instead for a proprietary solution that has been met with skepticism.
Note: It is crucial to recognize that Apel operates under different entities in various regions, which may complicate the regulatory landscape. This review aims to provide a fair and accurate assessment based on available information.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 2 |
| User Experience | 3 |
How We Rated the Broker: Our ratings are derived from a comprehensive analysis of user experiences, expert opinions, and factual data sourced from multiple reviews.
Founded in 2004, Apel is based in Nigeria and offers a range of trading services to clients globally. However, it lacks proper regulatory oversight, which raises red flags for potential investors. The broker does not provide access to widely recognized trading platforms such as MT4 or MT5, instead using its own system, which has not been well-received by users. Available trading assets include forex, CFDs, commodities, and indices.
Apel operates without any valid regulatory licenses, which is a significant concern for traders. The absence of oversight means that there are no legal protections for clients, making it a risky option for trading.
The broker accepts deposits primarily in fiat currencies and cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. However, users have reported challenges when attempting to withdraw funds, often facing long delays or outright refusals.
The minimum deposit requirement set by Apel is reportedly around $500, which is higher than many reputable brokers. This high entry point can deter new traders who wish to test the waters before committing significant capital.
Apel does not seem to offer any transparent bonuses or promotions, which is another red flag. Many legitimate brokers provide clear bonus structures, but the lack of such offerings may indicate a lack of confidence in attracting clients.
Users can trade a variety of assets, including forex and CFDs. However, the lack of clarity around trading conditions, such as spreads and commissions, raises concerns about the overall trading experience.
Details regarding spreads and fees are scant, with many users noting that they were not adequately informed about these costs upon signing up. This lack of transparency can lead to unexpected charges and dissatisfaction.
Apel does not clearly specify the leverage it offers, which is a critical factor for many traders. The absence of this information can lead to confusion and may indicate a lack of professionalism.
The broker does not support popular trading platforms like MT4 or MT5, which are standard in the industry. Instead, it uses a proprietary platform that has not been favorably reviewed.
While specific restricted regions are not detailed, the unregulated nature of Apel suggests that it may not be suitable for traders in jurisdictions with strict regulatory requirements.
Customer support options are limited, and users have reported poor experiences when attempting to reach out for assistance. The lack of effective customer service can exacerbate issues related to fund withdrawals and account management.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 2 |
| User Experience | 3 |
In conclusion, while Apel may offer various trading services, the overwhelming consensus from user reviews and expert analyses suggests that potential traders should exercise extreme caution before engaging with this broker. The lack of regulation and transparency, combined with numerous negative experiences, positions Apel as a risky choice in the forex trading landscape.
FX Broker Capital Trading Markets Review
