Atecs Capital

Atecs Capital seems decent enough, but are looks all this company has to offer? Read on to find out what this brokers really stands for.

Atecs Capital is owned and operated by Altos Group Ltd, a company that is registered in the Commonwealth of Dominica, but not regulated there judging by the lack of a regulatory mention. Dominica is certainly not a destination that is associated with license issuers for brokers, or any other financial institutions. Furthermore, the country, even though regulating the banking sector and some non-banking institutions, does not do the same for forex and CFD brokers. Thus we can safely conclude that Atecs Capital is UNREGULATED.

We urge traders to trade with regulated brokers under the gaze of such agencies as the FCA which not only enforces a strict set of rules and demands detailed reports on company activities, but also includes a compensation fund of up to £85 000 for victimized traders resulting from insolvent brokers.

There was a slight nuisance that we encountered. The broker was not available from our location, and so we had to use a proxy. With that in mind, once we registered, we were redirected to the dashboard which serves as a trading platform as well, or at least that is what we took it for.

The website deals in the following cryptocurrencies: ETH, Litecoin, Ripple, Dash, Bitcoin, and ICO.

The only two languages available are English and German.

ATECS CAPITAL LOGIN

The platform at Atecs Capital is worse than most we’ve seen before. It’s not even a proper trader, but a dashboard divided by side tabs each serving a different purpose, like opening a new position, or seeing your active trades. As far as we’re concerned there are no charts, and absolutely no customizable options. In short it by far the worst “trader” we have come across.

As you can see the spread is around $55. The leverage is non existent.

ATECS CAPITAL MINIMUM DEPOSIT

The minimum deposit is $500 which is double the industry standard.

Payment methods are Credit/Debit cards, Wire Transfer, Skrill, Neteller, ChinaUnionPay, and others that are not disclosed. Seeing the sloppy work of this broker we doubt that even half of these are relevant.

All signs point to the obvious: that this broker is not to be trusted due to its lack of regulation. It’s only logical that we advise traders against it. Brokers with proper licenses from the FCA and CySEC (among others) operate in ways that put the trader’s security of funds and personal information as a pivotal priority. These agencies are the top non-US financial license issuers, which should give you an idea of the brokers working under their oversight.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These software allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.

ATECS CAPITAL WITHDRAWAL TIME AND FEES

There is no minimum on when withdrawing.

Withdrawals via Wire Transfer are charged with a general fee of $30.

All withdrawals are processed either in 24 hours or up to 7 days. The T/Cs gives us two pieces of contradicting information, one after the other:

Furthermore, the Withdrawals Policy claims that requests are processed between 7-15 days. This confusion is very typical with shady brokers.

In order to withdraw a bonus one must complete a trading volume of 30 times the First Trade Risk Free investment amount which is a bonus of 10%-50% of the deposited sum.

ADDITIONAL FEES AND TAXES

There are no additional fees mentioned in any of the Legal Documents. Don’t let this soften you up. Brokers that have no regulation are known to launch incoming fees without notice. For this reason they try to postpone any withdrawal request. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.

ACCOUNT VERIFICATION

Traders will sooner or later realize that something is a foot. Filing for a chargeback might not be as easy as it seems if, beforehand, the user has given away a copy of his ID and proof of address to the unlicensed broker. With these in their possession the company can easily refute any claims you might have against them.

We are positive that this firm will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed entity where the law is integrated in every aspect of their operations.

HOW TO RECOVER

The only way to recover is by filling for a chargeback, and hoping it’s not too late.

If you have given a CVV code, be sure to cancel your credit card as soon as possible, because the people behind the scam will not delay, and draining every cent from it.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

Atecs Capital has nothing to offer that will increase your profits. We will be as short as possible: do not bother with this one.