AltimaTrade Broker Review – Can AltimaTrade.pro Broker Scam You?

There are many brokers like AltimaTrade. An offshore company owned by a shell firm, established less than a year ago, has already been blacklisted throughout the EU. Please look at our AltimaTrade review to learn about this company.

We recommend you read our scam broker evaluations for AceInvesting, Finutrade, and WorldWideBrokers.

1. Scam Broker Status: Offshore
2. Regulation: Unlicensed Forex Provider/No Regulation
3. Websites of scammers: altimatrade.pro
4. Forex Trading Scam: Active
5. This company is blacklisted by these organizations: CNMV, FSMA, A-TVP, and Finanstilsynet.
6. Shenanigans Consulting LTD: Broker Owner
7. Country of headquarters: Saint Vincent and the Grenadines
8. Year of foundation: 2021
9. Platforms for online trading: WebTrader
10. Available on mobile devices
11. Deposit minimum: $250
12. Available Deposit Bonuses
13. Trading Crypto Assets: Not Available
14. Trading CFDs is an option: Yes, you can trade CFDs
15. Traders can trade FX, commodities, indices, and shares.
16. Leverage maximum: 1:100
17. No Islamic account is available.
18. Demo Account: No, only live accounts are available
19. US traders are not accepted: US traders are not accepted.
20. Scam Broker: Don’t Invest!

Is AltimaTrade a Regulated Forex Provider?

This brand belongs to Shenanigans Consulting LTD, a company in Saint Vincent and the Grenadines. There is no financial regulator on this offshore island, so many Forex and binary options schemes established their headquarters here. Several regulatory warnings have already been issued to the website since it was registered in October 2021.

Fake Awards and Achievements – Sign of Fraud

You’re dealing with fraud when you see this. Even regulated firms cannot achieve what broker AltimaTrade has performed in seven months. 

According to its website, the firm has more than 600,000 clients, over 19 million open deals, and more than $43 million deposited in its accounts. The firm either steals clients’ funds or provides false information to reach these high numbers.

Warnings Against AltimaTrade Fraud

Financial regulators issued their final verdict on the AltimaTrade trading scam. The Spanish CNMV issued a warning, followed by several others.

Official Warnings Issued by CNMV – Evidence of Fraud

According to CNMV, AltimeTrades provides unregulated financial services, including Forex trading. 

Later, Norwegian Finansynet, Slovenian A-TVP, and Belgian FSMA republished the warning.

Where Is AltimaTrade?pro-Trading Scam Active?

The main markets in which AltimaTrade operates are:

• Germany
• Canada
• Spain
• Latvia
• Armenia
• Bulgaria

In December of the same year, the broker began actively conducting scams for the company.

What Can AltimaTrade Fraud Victims Do?

The AltimaTrade scam must be reported immediately if you find yourself a victim. We at Global Fraud Protection are here to assist you with the chargeback process and help you get your money back.

Chargebacks are time-limited processes, so it’s essential to act right away. We will refund your money if you book a free consultation with our specialist before it’s too late!