ARES FOREX Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
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This so-called broker said I could earn a lot. But this is a complete scam.
This company promised a high profit to me. So I dpeosited $700.
Ares Forex has garnered mixed reviews in the forex trading community, with several sources highlighting significant concerns regarding its regulatory status and user experiences. While the platform offers a range of trading instruments and competitive leverage options, the lack of proper regulation and numerous negative user reviews raise red flags for potential traders.
Attention: Its crucial to note that Ares Forex operates across different jurisdictions, which may affect its regulatory compliance and user experience. The evaluation methods employed here aim for fairness and accuracy, taking into account various sources and user feedback.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Experience | 5 |
| Trustworthiness | 2 |
| User Experience | 4 |
How We Score Brokers: Our scoring is based on a comprehensive review of available data, including user experiences, expert opinions, and factual information from various credible sources.
Founded in 2018, Ares Forex is a trading platform based in the United Arab Emirates. It provides access to a wide array of financial instruments, including forex pairs, CFDs, options, and futures. The platform primarily utilizes the widely recognized MetaTrader 4 (MT4) trading platform, which is known for its user-friendly interface and comprehensive trading tools. However, Ares Forex lacks valid regulatory oversight, which is a significant concern for traders looking for a secure trading environment.
Ares Forex does not have any valid regulatory licenses, which is a major point of concern. According to the Financial Markets Authority (FMA) of New Zealand, Ares FCL Services Limited, trading as Ares Forex, is not a licensed derivatives issuer, and users are advised to exercise caution when dealing with the company. This lack of regulation can expose traders to significant risks, especially when it comes to fund security and dispute resolution.
The platform supports a variety of payment methods, including credit/debit cards, bank transfers, and e-wallets. However, details regarding specific deposit and withdrawal currencies are limited. The minimum withdrawal amount is reported to be $100, and while Ares Forex claims to process withdrawals within 24 hours, user reviews suggest that there may be delays or difficulties in accessing funds.
The minimum deposit required to open an account with Ares Forex is $100, which is relatively low compared to many other brokers. This accessibility may attract new traders, but it also raises concerns about the quality of service and support provided to clients.
There is little information available regarding bonuses or promotional offers on Ares Forex. The absence of clear promotional terms can be a disadvantage for traders seeking to maximize their trading capital.
Ares Forex offers a diverse range of tradable assets, including major, minor, and exotic forex pairs, as well as CFDs on stocks, indices, commodities, and cryptocurrencies. This variety can appeal to traders looking to diversify their portfolios. However, the lack of detailed information on specific instruments may leave traders wanting more clarity.
The broker advertises spreads starting from 0.0 pips for pro and VIP accounts, with a minimum of 0.1 pips for standard and Islamic accounts. Importantly, Ares Forex does not charge commissions on trades, which may be attractive for frequent traders. However, given the absence of regulation, potential hidden fees or unfavorable trading conditions could be a concern.
Ares Forex offers leverage options ranging from 1:500 for standard and Islamic accounts to as high as 1:2000 for VIP accounts. While high leverage can amplify trading potential, it also significantly increases risk, especially for inexperienced traders.
The primary trading platform available is MetaTrader 4 (MT4), which is widely used and respected in the trading community. However, there is limited information regarding the availability of other platforms, such as MetaTrader 5 (MT5).
Ares Forex does not provide clear information about restricted regions. However, traders should be cautious, especially if they reside in jurisdictions with strict regulatory frameworks.
Customer support at Ares Forex is primarily available through email, with limited channels for direct communication. The lack of extensive customer support options may hinder traders seeking timely assistance.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Experience | 5 |
| Trustworthiness | 2 |
| User Experience | 4 |
Account Conditions: The minimum deposit is low, but the lack of regulatory oversight raises concerns about the overall quality of service.
Tools and Resources: While MT4 is a strong platform, the lack of additional resources or educational tools may limit user experience.
Customer Service and Support: Limited communication channels and reports of poor support affect the overall rating for customer service.
Trading Experience: Competitive spreads and a variety of tradable assets are positives, but the lack of transparency in operations is a downside.
Trustworthiness: The absence of valid regulation and numerous negative reviews lead to a low trust rating, making it essential for potential traders to exercise caution.
User Experience: While the platform is user-friendly, the overall experience is marred by concerns regarding fund withdrawal and customer support.
In conclusion, Ares Forex presents a mixed picture for potential traders. While it offers a range of trading instruments and attractive leverage options, the lack of regulation and numerous negative user experiences significantly overshadow its advantages. Caution is advised for anyone considering trading with Ares Forex, as the potential risks may outweigh the benefits.
