ApexSignal Review – Why Should you Avoid this Broker?

Read our ApexSignal review to see if this broker is a scam or legit. Just to clear doubts, this is a apexsignal.online review.

ApexSignal Review

ApexSignal logoAre you looking for high returns on your investment in a short span of time? The financial markets are considered perfect for this purpose and there are numerous success stories that you will discover. But, there was a time when people could only envy others for achieving their goals in these markets because access was not that simple. All of that changed with technology and the internet and now, online brokers exist to help you foray into this space. Where does this ApexSignal review come in? A simple Google search will show you that there are thousands of online brokers to be found.

One of these is ApexSignal as well, but the important thing to know is that there different types of brokerages that exist. Yes, their services and offerings vary, but so does their reliability. Not every company you come across will be a good one, not just for you, but generally because scams have become quite widespread over the internet. Fraudsters often portray themselves as online brokers because it gives them a chance to entrap people and steal their money. Millions of people all over the world have become victims of these bogus and fake platforms.

Do you want to be another statistic? You obviously want to trade in the financial markets for making money and that cannot happen until you find a good broker. In order to do so, you cannot and should not choose a company without evaluating it first. Doing so will tell you if there are any reasons to avoid it, or if you should go ahead and sign up. This is what happens in the case of ApexSignal that claims to be a regulated and reliable brokerage operating in the market.

ApexSignal scam broker review

You might want to start trading online quickly and the fact that ApexSignal comes off as convincing will tempt you, but caution is a must. It becomes apparent that this broker is definitely not what it appears and is one that should be avoided. Why? Here are the reasons to do so:

False claims of licensing and regulation

The licensing and regulation of a broker is its most important characteristic because it shows that the company you are dealing with maintains high standards of service. It can also offer transparent and quality service and complies with rules and regulations, depending on the jurisdiction where it is based. Licensed companies are considered authentic, while their unlicensed counterparts are deemed shady and scams. The fact that ApexSignal claims to be licensed and regulated lures people to the platform.

When you look into its operations, you will find that ApexSignal claims to be based in the United States. In fact, you will even find a license on its website and if you don’t take a close look, you are likely to fall into tis trap. But, a bit of evaluation shows that the license is a forgery and not a good one at that. The license boasts the title ‘United State of America’, which is a grave error.

You can also check the online register of regulatory authorities in the US for ApexSignal and not find the broker anywhere. These are the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Another glaring issue is that ApexSignal is not complying with the rules of these regulatory authorities and this proves that it is making false licensing and regulation claims.

Another problem that you will uncover on the ApexSignal website is the address that it has provided. The address is in Scotland and the regulatory body there is the Financial Conduct Authority (FCA). But, the broker is not licensed by the authority either and is also breaking its rules as well.

Offering savings account

There seems to be a conflict of interest in the services of ApexSignal because you will find that the broker is offering savings accounts to its clients. Why is that a problem? It is an issue because these savings accounts come with daily returns. Yes, the returns are quite impressive and you want to deposit your money right away to generate them.

But, you should bear in mind that no genuine broker can offer you guaranteed returns. The financial markets are volatile and unpredictable and no one can tell how things will turn out. This means that ApexSignal should not be offering such returns at all. Furthermore, it is an online broker, which tend to operate as market makers. These make profits when traders lose, which means they cannot make profits on your behalf. It would create a conflict of interest and the broker is likely to make losses on your behalf, so they can generate returns.

High leverage levels

Before you decide to open a trading account with any brokerage, it is recommended that you check the trading conditions they offer. Doing so with ApexSignal is certainly a good move because it shows you why you should not opt for this platform. You will discover that they are offering a leverage as high as 1:500. This is done to attract people to their platform, but you should remember that such ratios are very risky.

As a matter of fact, the risk has driven regulatory authorities in different jurisdictions, including the US and Scotland where ApexSignal claims to be based, to impose a cap on the leverage that can be offered. It is 1:50 in the US and 1:30 in the UK, yet ApexSignal is offering leverage levels higher than that, which shows it is a scam.

Crypto payments only

A look at the payment methods supported by the broker is also important and ApexSignal does not seem to be offering any conventional options at all. You will find that they only support crypto payments and the problem in this scenario is that these payments are final. You do not have the option of filing for a chargeback and this means there can be no refund.

Ending Thoughts

These are some of the reasons that you should avoid ApexSignal because you are likely to lose your money this way.

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