Regulations: Not Regulated
Languages: English, Russian, Portuguese, Spanish, Italian, Polish, Indonesian, French, Thai, German, Vietnamese, Arabic, Malay, Chinese, Turkish, Japanese, Korean
Free Demo Account:No
Number of Assets:N/A
Types of Assets:Currency Pairs, Commodities, Stocks and Cryptocurrencies
Trading Accounts and Conditions
Astro Trade Limited offers its clients the following trading accounts:
- Basic Plan: The deposit range for this account type is from $300 to $4,999. You are also offered a 50% at the time of deposit and are guaranteed a 30% money return.
- Premium Plan: The deposit range for this account type is from $5,000 to $49,999. You are offered a 70% bonus during deposit and are guaranteed a 50% money return.
- VIP Plan: The minimum deposit requirement for this account type is $50,000. You get a 90% bonus on deposit and an 80% money return guarantee.
There is no information provided about the spreads or leverages offered by this broker. From what we can make out, this broker seems to use binary options trading.
Astro Trade Limited– Advantages
You find that there are no advantages to trading with Astro Trade Limited. This is a scam operation and investing with them is a very bad idea. Read on to find out why.
Astro Trade Limited – Disadvantages
Here are all the reasons why we strongly recommend not investing with this broker:
Anonymous and Unregulated Broker
Despite going through their website with a fine-toothed comb, we were unable to find any information related to who owns this brokerage and where it is located. The only reference we have to where Astro Trade Limited may be located is the claim it makes on its website that it is regulated by the FTC (Federal Trade Commission) in the US. The broker also has a UK phone number and vague email address on its website, but that is all.
The claim that it is regulated by the FTC is clearly false This is because the FTC has no jurisdiction over the forex and capital trade industry. The only governing body that can regulated entities in this industry is the CFTC (Commodity Futures Trading Commission). We checked to see if this brokerage was listed with the CFTC and were not surprised to find that Astro Trade Limited was not regulated by this watchdog.
And since there is no further information provided about its regulation status, we can confidently say that Astro Trade Limited is unregulated and anonymous.
This is the first indication of a scam. Regulated brokers clearly mention their license and registration numbers and provide all information with regard to their location.
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
Unrealistic Profits Promised
Another indication that this broker is a scam is the fact that it guarantees its clients massive profits. This is something no broker can promise because of the hugely speculative nature of the market. In fact, legitimate brokers are required to publish how many (in percentages) of their customers actually suffer losses. The normal range is that 70% to 85% of traders suffer losses on the market.
Therefore, for Astro Trade Limited to promise returns as high as 128% is a complete lie.
Using Promotional Ads Prohibited in Regulated Markets
Astro Trade Limited promotes its website by showing a time ticker on its homepage. This ticker tracks the amount of time you spend on their website and then tells you how much money traders can make in the time that you have spent. So, we searched their website for 22 minutes, and in that time, the broker advertised that traders made $140,786.
This kind of a promotional tool is strictly prohibited in regulated markets as they can mislead novice traders into thinking that they can make such profits.
Poor Trading Platform
If you decide to contract with Astro Trade Limited, the only software you will be offered is this poorly designed, web-based binary options trading platform. We were unable to access the platform since there was no demo account available.
Regulated brokers offer their clients the best trading platforms in the market, such as the MetaTrader 4 or MetaTrader 5 software. These types of software have a wide range of tools that enable easier trading and are designed in such a way that even novice traders can use the platform.
Lies About Payment Methods
On their homepage, Astro Trade Limited proudly showcases the fact that it offers its clients more than 100 different payment methods. However, we checked further and found that the only payment method accepted by this broker is Bitcoin.
Bitcoin has become the favored method of transaction with scammers because it is untraceable and permanent. Once you make a payment using Bitcoin, there is no way you can get it back. The perfect scam!
Affiliate Programs Offered
This broker focuses more on its affiliate programs than its trading platforms, which is always a red flag. Such programs are usually a part of a greater Ponzi scheme that is designed to scam unwary and novice traders of their money.
Astro Trade Limited also offers its clients bonuses, which is another scamming tool. This broker offers 50% to 90% bonuses. If you accept these bonuses, you will be entangled in a whole bunch of withdrawal policies which will essentially make it impossible for you to withdraw your funds.
Astro Trade Limited is not a broker that you should trust with your money. Everything that we have reviewed clearly shows us that they are scammers. If you invest your money with them, you will only lose your hard-earned cash. It would be in your best interests to find a broker that is not only regulated but completely transparent in its dealings.