Andelex Review

Andelex Review: Introduction

Andelex is an online trading platform. They claim to be one of the best forex brokers on the market. The company is owned by, Andelex and located at Sorkedalsveien 4, 0499 Oslo, Norway. The website of the company is https://andelex.com/. They can be contacted by phone at +44(744)144-9711 and by email at support@andelex.com. The company does not provide information about its legal documentation, corporate background, and owner’s details. Read a complete Andelex review to learn more about this broker.

Andelex Review: deposit and withdrawal method

The minimum deposit of the Andelex broker is $500, which is too much than the other brokers, and the minimum withdrawal limit is not provided by the company. They claim to offer many options to their clients like cryptocurrencies, Western Union, MoneyGram, Bank Transfer, PerfectMoney, and Neteller. But it is not true because at the time of payment only the cryptocurrencies option is active. It seems to be suspicious.

Andelex Review: regulation status

They do not mention who owns the company and from where they can operate. No legal documentation was shown by the company. These points are the indication that Andelex is suspiciously involved in scams. A regulated license is a must for any broker otherwise, they can’t provide their services in their country. Before investing money in a trading platform, it is important to check the regulated license of the broker. If a broker is not legit, that indicates your funds are not safe with them. We advise you to avoid Andelex broker because it might be a scam broker or involved in a forex scam.

Andelex trading software

Regulated brokers offer their clients a wide range of trading software like desktop, mobile, and web-based platforms. MT4 and MT5 are the two most used platforms in the forex market. But Andelex does not offer their clients these two platforms. They mention on their website a cTrader platform, but we can’t get access to this platform or any real trading software.

How does the Andelex scam work?

Scammers can contact you through fraudulent ads, which is present on the Internet and on social media. They promise you to make easy money and offer you a luxurious life. Once you click on the ads and provide them with your details, they ask for an initial deposit. After that, they ask for more money again and again. Be alert, they might be a scam broker, and investment with them is at high risk. We advise you not to invest money before checking the regulated certifications of a broker.

Customer reviews

Customer reviews are most important for those who are searching for a trading platform. Report Scam, haven’t seen any positive reviews about this broker on any site. We provide a scam broker list of 2021 and 2022 on our website that can help you to avoid such scam brokers.

Andelex Review: Conclusion 

Report Scam advises you to stay away from this broker or any unregulated broker because they might be involved in forex scams, and your fund is not safe with them. If you are a victim of the Andelex scam, a chargeback is an option for fund recovery. Fill out a complaint form on our website. Our experts will provide you a free consultation, and we will guide you in the process of fund recovery.

We hope this Andelex review is helpful.