AtlasForex or Atlas Forex is a broker with a shady background. Their website is atforex-markets.com, and they claim their company was created in 2008.
But what we have found out is that this broker’s website was actually registered in November 2017.
The company is trying to create legitimacy by putting the impression that they’ve served traders for a long time.
The broker is operating out of China and their website is a mishmash of Chinese, Japanese and English languages, making it one of the most disorganized websites out there.
AtlasForex is encouraging traders to use their service by claiming that their account opening procedure takes 10 seconds only, and they don’t investigate funds when clients deposit into their platform.
In addition to this, Atlas Forex wants to appear attractive to traders by making multiple too good to be true promises.
Some of the supposed benefits listed on their website include no requotes/rejections, speedy withdrawals, no participation in low spread competition and protection of funds.
Because Atlas Forex is a scam broker (more explanation later), we don’t feel too enthusiastic adding them into our list of the most recommended trading and investing services as this would be detrimental to the success of the trading community.
AtlasForex Review: Background of atforex-markets.com
Their website says that the company behind Atlas Forex is called Atlas Fx Ltd.
Atlas Fx Ltd is supposedly a company that was founded in 2005 when the people involved were making Forex EAs.
This background is obviously unverifiable, and could just be cooked up stories to feign legitimacy.
And the minimum deposit that this broker accepts is a whooping $1,000, yet we know that offshore brokers can’t be trusted with such an amount upfront unless they prove to be legitimate over time.
There’s no spread information on this website either. We expect a decent broker to publish live spreads on their website so we can know the cost of trading our favorite pairs ufront.
Atlas Forex is providing misleading licensing information
According to the information published on the AtlasForex website, their company is supposedly regulated by the
Belize IFSC (International Financial Services Commission).
How can it be possible that this company is based in China but is running its business from a Belize regulatory license?
In fact, the Belize IFSC (financial regulator) has even basted these frauds by warning the public that the license which AtlasForex has published on their website is false and misleading.
In other words, this broker does not have any valid financial license, yet they continue to lie to prospective investors.
This finding should be sufficient enough to repel serious traders and investors who had contemplated using this broker’s services.
Affiliation with other suspicious brokers
Our background research has hinted that AtlasForex is affiliated with atlasfx.co (now defunct domain leading to vissiont.com) and atlasforexgroup.com.
All of these two websites have amassed a mountain of complaints to themselves. The only reason why there can be such a number of complaints is because the culprits are involved in scamming activities.
The risk of losing money to AtlasForex or any of their affiliated brokers/companies is very high and not worth it.
Trading is a serious profession and a way to multiply your money but if you have a bad head-start, you will obviously be discouraged, not wanting to go into trading ever again.
The good thing is that there are still a few companies out there that truly care about building their name and also serving traders well.
You can check them out in this list of our recommendations.