Apollofinances: scam or reliable broker?
10 / April / 21
What traps the scammers have prepared for traders: focus on the currency market.
Experts from Apollofinances scam avoiding team state that scam companies most often look for victims among currency traders who are unexperienced.
Foreign exchange transactions remain a favorable environment for various kinds of speculation and deception. After all, the Forex is one of the most profitable and highly advertised markets. Today brokerage companies offer various conditions allowing you to start trading with a minimum amount of two hundred dollars or euros. For this reason, many traders choose currencies as their first assets with small entry point, because there is quite a chance to get a good profit quickly (given that most transactions are carried out with leverage).
Apollofinances.com: scam and its scale in trading
You really don’t need any strong law background in order to detect fraudsters. All you need is a basic knowledge of the most popular scam schemes. By the way, they also have a kind of trend thing: some scammers introduce a new type of scam, others repeat after them - and all this continues until most users stop falling into the trap, or until the cyber police harshly stops such activity. However, information works best against fraud: the more traders know how they can be cheated, the less chances that it will actually happen.
In this review, we will briefly talk about the popular fraudulent traps that are used specifically in the Forex market. For advice, we turned to a company with many years of experience in Forex, the Apollofinances brand. The company works with traders from all over the world.
Apollofinances.com contact details:
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960
According to data obtained from Apollofinances review, scam is something that about 10% of traders face in one way or another. Forex traders with little experience report cases of fraud more often than others. And of the fraudulent schemes, the most common is a scam scheme of selling paid signals or trading bots (that is, traders make deposits, but then they cannot take their money back because they are engaged in trading algorithm which has already spent all their money).
Ways to cheat an investor in the foreign exchange market
We asked Apollofinances what kind of scam is more common among foreign exchange brokers. There are many different methods of deception, but they can be conditionally grouped into five main areas.
1. The pyramid. The scheme, in which, in fact, trading does not take place at all.
Primary targets: beginners.
How it works: a trader deposits money before even seeing the trading platform (in fact, there can be no trading platform at all). No surprise that investor cannot start making deals, but broker keeps trader from thinking that something is wrong. Manager explains this by technical problems with the platform, problems with crediting funds to the account and other reasons. In fact investor never starts trading and just sends money to fraudster.
2. Ready-made strategies. The trader is offered to pay for a particularly effective strategy. However, this may be a non-working strategy or no one will provide it at all in any form.
Primary targets: those who do not understand that the strategy must be developed gradually, those who look for easy money.
How it works: a false broker collects fee for his "effective methods of making money on Forex", and provides some low-quality non-working strategy. Apollofinances.com scam preventing department informs that there’s almost no chances that such strategies will ever do any good to their buyers.
3. Powerful leverage. The case when a company offers leverage 1:1000 with no explanations of risks involved.
Primary targets: traders with little experience and big ambitions.
How it works: a real company with a real statute of work “forgets” to show the client all the documents, including the one that contains a notification about the risks of trading with leverage. Also, the trader does not receive information about the margin call - situation when his trades can be canceled and the account frozen.
How to prevent scam
You can detect most of these schemes in advance by simply reading the documentation on the brokerage company's website.
For example, as we see on the website Apollofinances.com, all the details of cooperation are clearly visible before opening an account and signing an agreement. All information about the services, rights and obligations of the parties is spelled out in the company's documentation
Their support communication style is a nice touch to the overall succesful business. I don't really pay attention to the exact way support specialists talk, but these guys have managed to make a company feature out of it. Liked that a lot. Their spreads are also really great, especially if you're a newbie. Just don't get used to them if you're planning to switch brokers in the future - spreads are usually much higher everywhere else.
Working together for six months. The two biggest pluses: 1 - low spreads, more earning opportunities, 2 - support without delays and blunders. I have great experience. At first, I even doubted the reality of the service ... of course, there are no "too gooood" conditions that would immediately become a sign of a fake platform ... but I was surprised by the size of the spreads. However, for six months there was not a single problem with earning money. Thank you!
Dwain D 22.04.2021
What a cute team to work with. I like everything they do: how they communicate, what advice they give, what conditions this broker has. We work very very nice well. There are no downsides!
Like this broker. I'm familiar with the trading for a while, I even created demo account in winter but never tried 'the real thing' before this company. So it's my first attempt to trade like a pro and quite successful I guess, got three withdrawals during last two weeks
Rodrigo Dias 04.05.2021
Wow! I got 30% of my investment for EURUSD trading for another week. Great support service but too long withdrawal.
Frieder Lang 10.05.2021
Here since January. Best thing they have - 1.5 pips spread for EURAUD and EURCAD and that's best terms that I've seen
During my work with this company I went through absolutely everything to come to what I have now. Of course, I started to study trading on my own until I came to my own trading strategy. I really like the process of earning money, but over the past year everything has changed because I went on a promotion at my main job, site analytics helps.
The company is very good and has known them for a long time, after I was terribly upset by my two previous brokers, I decided to change them and decided to work here. I have been working for 6 months already and I myself am trading in the project. Good conditions and the ability to control your account and profitability at any time. Now I work with only one broker and everything suits me.
Nobody will convince me to change my broker. Everything is clear in the company: if you want to earn money, choose what is convenient for you. I like the fact that the company has well-informed employees who work with me to the fullest. Recommend!
Gerald Collins 01.06.2021
My profits here are 20-25% on average, and it works for me. I joined almost a year ago.
Leslie Roberts 03.06.2021
I’ve been working with this broker for 8 months. My average profit is about 22% - more than I initially expected to earn here, so I’m not going anywhere.
Andrew Ingram 04.06.2021
I want to change my account type – spreads depend on it, and spreads matter a lot for daily trading. Hope it will help me achieve even better profits.
Phillip Brown 04.06.2021
I’ve been working with this company since last summer, had a good experience overall. Usually I trade on medium-term transactions and get about $250 per month. Now I’m thinking about trying something new – scalping, maybe, I’m still not sure.
Willard Ross 08.06.2021
I like to start my morning with a cup of coffee and a call to my broker. My only issue is that sometimes they take too long to answer. Otherwise, their support team is pretty great.
Andrew Thomas 13.06.2021
Just got my money 8 hours after filing withdrawal request. Compared to other brokers I worked with, that’s fast enough.
Marsh John 02.07.2021
Not for the sake of advertising, but at the behest of my heart ) I am writing about the broker Apollofinances. And, it's free! Seriously, in my opinion, this is a decent middle broker, reliable, it works stably and efficiently, with a good speed of order execution and withdrawal (no commission!). Everything is so serious that here you can’t find the usual entertainment such as contests and tournaments, and minimum set of tools is enough especially for the implementation of daily tasks. There are no demos and macro accounts, no webinars. There are low fixed spreads. Everything suits me.
Spencer Corey 02.07.2021
Probably three months ago I opened my brokerage account at Apollofinances ... The first impression was a little shock by the ease and simplicity of registration. The manager explained that validation should be performed once at the first withdrawal, and then documents are signed for the first and last time. All the rest are done online. Trading conditions are not ideal, but quite comfortable, I am ready to recommend it to my friends. Not high static spreads, there is no commission for withdrawal and input, but there is no choice of terminal, no contests or competitions. And still pleased with the speed of execution of orders.
Anderson Leonard 10.07.2021
It is so interesting to read other people's comments, everyone writes about their difficulties in working with the broker Apollofinances. For me, the most difficult thing was getting used to the MetaTrader 4 terminal, before that I worked with Qwik. However, I figured out, eventually clarified all the details and was able to appreciate all the capabilities of the terminal. I understood, for example, that Apollofinances does not provide such a rich toolkit for the basic level. Although for completely newbies this will be quite enough. According to the main principles of work the are static low spreads, not inflated quotes, no interest on input and output, and the withdrawal itself is carried out fairly quickly.
Jones Anthony 14.07.2021
This May I opened an account with Apollofinances. I read the conditions and liked that on the static spreads of this broker you can plan a successful strategic line on an ongoing basis and trade with almost any amount within your own deposit. As for I / O, they are fast, simple, with no commissions. Here is one serious problem got out. It turned out that the MT 4 terminal does not want to be correctly installed on the MacBook, had to be installed via an emulator, and this is somehow strange at all, of course. The terminal itself, in principle, works typically, not buggy. Nevertheless, I would be glad if they would solve this question or at least make a web terminal.
Ford Kerry 18.07.2021
At the beginning of summer, on the advice of a friend, opened an account with Apollofinances broker. Everything that was stated regarding trading conditions turned out to be true. Static spreads, no leaps, no unanticipated jumps. No problem has ever been with withdrawal. The only verification process took some time, most likely, such requirements from the security service. Technical support is competent, I think that managers are not just sitting on the phones, but they are engaged in bidding themselves, because they are up to date with all current trends.
Wheeler Lenard 22.07.2021
Changed the broker for technical reasons, and not financial ones, it was impossible to work because of constant disconnects. Read the reviews and stopped at Apollofinances. I understood that the risk. Strange affair, the company has been on the market for almost three years, and has not gained much fame. Started with small transfers, then I went and went, and half a year passed imperceptibly. I am pleased. Everything works transparently, the system is stable, with the support team no problems. Trade calmly, knowing that no one will draw a left candle behind my back and climb into my account without asking. Profit is growing, with the withdrawal everything is ok, but except for one thing - it would be good to increase the number of options for withdrawing, add Kiwi, for example.
Andrews Richard 02.08.2021
It’s kinda hard to enter the trading market when you have a student’s loan like I do; still, found out that Apollo Finances has some great terms with low entry threshold for beginners like me and now I’m all into that.
Norman Darrell 08.08.2021
Really loved working with Apollo Finances for the last couple of weeks. Fast support responses, good terms and nice withdrawal time, it all works for me.
Kelley Robert 12.08.2021
What about Apollo Finances? Have anyone heard any specific information about them? I’m thinking of joining these guys but need to be sure I’m making the right choice.
Montgomery Amos 19.08.2021
Well, Apollo Finances was my first trading experience, and it was okay. Some other broker might have worked better for me, but I’m fine with the way it went.
Sims Oliver 23.08.2021
Don’t like trading myself, however, my wife has checked them Apollo Finances fellas and says they are the real deal. Can’t take her word for granted, lol, but if you try them pls leave some review.
Woods John 30.08.2021
I mean, whatever, guys, you just do your own thing. Apollo Finances can help you with profits, that’s a real fact, and all your negative comments are just derivatives from unability to use it.