Brief Look at Arotrade
Arotrade is owned by Speed Solutions Ltd., a company registered in Belize and licensed by the International Financial Services Commission (IFSC) of Belize under number 000287/100. However, Belize is an offshore zone, and the regulator does not provide adequate oversight of brokers' activities.
There is no official information regarding Arotrade's year of incorporation. Its website first appeared in the web archive on March 11, 2018. From the beginning, Speed Solutions Ltd. was stated to be the broker's managing company. Given this information, the Arotrade scam project remains active.
On March 31, 2020, the Financial Markets Authority (FMA) of New Zealand issued a risk warning concerning this broker.
Former client reviews of Arotrade are mostly negative. According to these reviews, the broker misuses client data for its own purposes, such as selling it to third parties. Traders also report difficulties with withdrawals and a disregard for complaints.
Taking into account the above facts, the broker is added to the blacklist.
We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.
Articles that may help you
Check out our reviews of other companies as well
