Note: Report Scam Community has conducted many researches before flagging Apex500 as a possible scam in this Apex500 Review.
Is Apex500 a scam or legit?
Apex500 is a fraudulent offshore broker that is just another one without any distinction. Because https://apex-500.com is registered in an offshore country, it may be one of the many investment scams that afflict the FX market.
Apex500 has provided a UK phone number and the following address: Suite 1, Second Floor, Sound and Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles. Seychelles is not the ideal place to regulate your broker. Seychelles Financial Services Authority, the regulatory agency in place, is not the strongest once it involves trading. There are some limitations and laws that must be adhered to.
The Financial Services and Markets Authority in Belgium and the Federal Financial Supervisory Authority in Germany both put the broker on a blacklist.
In accordance with section 37(4) of the German Banking Act (Kreditwesengesetz – KWG), the Federal Financial Supervisory Authority (BaFin) wishes to make it clear that Apex500 does not have authorization under the KWG to conduct banking business or provide financial services. BaFin does not have control over the business. Apex500 is suspected of conducting banking operations and offering financial services in Germany without the necessary authorization, based on information found on the company’s website, apex-500.com.
When trading with an unregistered offshore broker like Apex500, the chances are stacked against you. No money will be available for withdrawal from your account. It’s best to stay with legitimate brokers, such as those that hold licenses from major regulators like FCA, ASIC, etc.
Possible scam activities of scam broker Apex500
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this Apex500 review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative Apex500 Reviews and Complaints
Apex500 has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2022.
How to get your lost money back from Apex500?
The best solution recommended for getting your lost money back from Apex500 is Report Scam Community.
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Do not believe fraud Scam Recovery companies as many of them are cheaters but believing Report Scam Community is better because they are genuine group of people who have recovered millions of dollars of the fraud brokers.
Domain Age Information of Apex500
376 days old
Created on 2021-07-13
Expires on 2023-07-13
Updated on 2022-04-12
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