ApolloX Review

Investors Alert ApolloX – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements

Introduction:

Online trading platforms are websites or applications that allow users to buy and sell various financial instruments, such as stocks, currencies, commodities, or cryptocurrencies. Some of these platforms are legitimate and regulated by authorities, while others are fraudulent and operate illegally. One of the platforms that falls into the latter category is ApolloX, which has recently attracted the attention of the Alberta Securities Commission (ASC).

Products and Services:

ApolloX claims to offer a variety of products and services, such as forex trading, binary options, CFDs, crypto mining, and investment plans. According to its website, ApolloX promises high returns of up to 95% in 60 seconds, low minimum deposits of $10, and free demo accounts. However, these claims are not backed by any evidence or verification. Moreover, ApolloX does not disclose any information about its owners, location, or registration status.

Financial institution & regulatory license:

ApolloX is not a registered financial institution in Canada or any other jurisdiction. It does not have a license to operate as a dealer or adviser in securities or derivatives. It also does not comply with the reporting requirements of the securities laws. This means that ApolloX is operating illegally and exposing its users to significant risks of losing their money or becoming victims of identity theft.

Trader’s Reviews and Customer Service:

ApolloX has received many negative reviews from traders who have used its platform. Some of the common complaints include:

– Difficulty in withdrawing funds or closing accounts

– Unauthorized charges or deductions from bank accounts or credit cards

– False or misleading information about the platform’s features and performance

– Aggressive or abusive marketing tactics and customer service

– Lack of response or support from the platform’s representatives

How do online trading scams operate:

Online trading scams are schemes that lure unsuspecting investors into depositing money into unregulated platforms that promise high returns and low risks. However, once the money is deposited, the scammers either manipulate the platform’s software to generate fake profits or losses, or simply disappear with the funds. Some of the signs that indicate an online trading platform is a scam are:

– Unrealistic or guaranteed returns

– High-pressure sales tactics or incentives

– Lack of transparency or disclosure about the platform’s owners, location, or registration status

– Requests for personal or financial information that are not relevant to the trading activity

– Difficulty in withdrawing funds or closing accounts

How to Safeguard Against Fraudulent Brokers:

To protect yourself from online trading scams, you should always do your research before investing in any platform. You should also follow these tips:

– Check the registration status and background of any platform or person offering you an investment opportunity on the ASC website (www.albertasecurities.com) or the Canadian Securities Administrators website (www.securities-administrators.ca)

– Avoid platforms that are not registered or regulated in Canada or your province

– Be wary of platforms that offer unrealistic or guaranteed returns, high-pressure sales tactics, or incentives

– Read and understand the terms and conditions of any platform before signing up or depositing money

– Use a secure payment method that allows you to track and dispute transactions

– Monitor your bank account and credit card statements for any unauthorized charges or deductions

– Report any suspicious or fraudulent activity to the ASC or your local police

Conclusion:

ApolloX is a new online trading platform that claims to offer high returns and low risks. However, it is not registered or regulated by any authority and has been warned by the ASC for violating the securities laws. ApolloX is a scam that exposes its users to significant risks of losing their money or becoming victims of identity theft. You should avoid ApolloX and other similar platforms and follow the tips above to safeguard yourself from online trading scams.