Overview of The Active Traders
The Active Traders is a forex broker that claims to offer a wide range of tradable assets and attractive trading conditions. Founded in 2012 and allegedly registered in the UK, the broker advertises leverage up to 1:1000, fixed or floating spreads, and four different account types. They provide web-based and mobile trading platforms, including their proprietary AutoTrade Platform, which allows traders to copy signals or mirror strategies of other successful traders.
However, it is important to note that The Active Traders' regulatory status is suspicious, with a low score of 1.23/10. There is limited information regarding their regulatory license, raising concerns about their legitimacy and potential risks. Additionally, the lack of transparency and unclear terms and conditions for bonuses and withdrawals may further contribute to doubts about the broker's credibility. Traders are advised to exercise caution and thoroughly research before considering any engagement with The Active Traders.
Pros and Cons
In assessing The Active Traders, it is important to note the following: they offer a wide range of tradable assets and high leverage options, along with web-based and mobile trading platforms, an AutoTrade Platform, a 24/5 customer support service, and a demo account. However, concerns arise due to their suspicious regulatory status, lack of transparency regarding regulatory license, unclear terms and conditions for bonuses and withdrawals, limited information about account types and features, a high potential risk rating, and a 20% withdrawal fee.
IS The Active Traders Legit？
Based on the information provided, it appears that The Active Traders is an offshore scam broker that operates without proper regulation and is not licensed by any major licensing providers. It also appears that the company is headquartered in Dominica and is not based in the UK as it claims in its terms and conditions. The fact that the Italian regulator CONSOB has officially warned against The Active Traders also raises serious concerns about the legitimacy of this brokerage.
Therefore, it is not recommended to invest your funds with The Active Traders. It is important to conduct thorough research and due diligence before investing with any brokerage to ensure the safety of your funds.
Market Instruments
The Active Traders claims to offer a variety of market instruments across six different asset classes. These market instruments include:
Forex: The broker provides access to over 80 currency pairs, allowing traders to participate in the foreign exchange market. Currency pairs commonly traded include major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic currency pairs.
Commodities: Traders at The Active Traders can potentially trade various commodities. Commodities typically include natural resources such as gold, silver, oil, gas, and agricultural products. These instruments allow traders to speculate on price movements in commodity markets.
Indices: The broker offers the opportunity to trade indices, which are baskets of stocks representing a specific market or sector. Popular indices include the S&P 500, NASDAQ, Dow Jones, FTSE 100, and DAX, among others. Traders can speculate on the overall performance of these indices.
Shares: The Active Traders reportedly allows traders to access shares or stocks of publicly traded companies. This offers the opportunity to invest in specific companies, such as Apple, Microsoft, Amazon, or Google, and benefit from potential price changes and dividends.
Futures: The broker claims to provide access to futures contracts. Futures are financial derivatives that enable traders to speculate on the future value of various assets, such as commodities, indices, or currencies. It allows for trading based on anticipated price movements.
It's important to note that while the description mentions these market instruments being offered by The Active Traders, due to the suspicious nature of the broker, caution should be exercised and thorough research conducted before engaging with their services.
Pros and Cons
Account Types
The Active Traders offers four different account types to accommodate the varying needs and preferences of traders. Here is a description of each account type:
1. Silver Account: The Silver account is the entry-level account offered by The Active Traders. It requires a minimum initial deposit of €300. While specific details about the features and benefits of the Silver account are not provided, it is likely designed for traders who are starting out or have a smaller trading capital.
2. Gold Account: The Gold account is positioned as a step-up from the Silver account and caters to traders who are looking for more advanced features and potentially have a higher trading capital. The Gold account requires a higher minimum initial deposit of €5,000, indicating that it targets more experienced or serious traders.
3. Diamond Account: The Diamond account is a higher-tier account offered by The Active Traders. It requires a substantial minimum initial deposit of €40,000, suggesting that it is designed for traders with significant trading capital and who seek enhanced features, benefits, or personalized services.
4. VIP Account: The VIP account is the highest-level account available at The Active Traders. It has the highest minimum initial deposit requirement of €100,000, indicating that it is tailored for high-net-worth individuals or institutional traders. The VIP account is likely to offer exclusive features, premium services, and priority support to cater to the needs of elite traders.
While specific details regarding the features, benefits, and trading conditions associated with each account type are not provided in the given information, it can be assumed that higher-tier accounts offer more advantages and perks compared to the lower-tier accounts. Traders are encouraged to review the terms and conditions, as well as any associated costs or fees, before choosing an account type that aligns with their trading goals and financial capabilities.
Pros and Cons
Trading Platforms
The Active Traders offers its clients a range of trading platforms to cater to their needs. The web-based trading platform is designed to provide a user-friendly and intuitive experience, allowing traders to access essential tools and features for efficient trading. This platform can be accessed through a web browser, eliminating the need for software downloads or installations.
In addition to the web-based platform, The Active Traders also offers a mobile trading platform for traders who prefer to trade on the go. The mobile platform is compatible with both iOS and Android devices, providing convenience and flexibility to access the markets anytime and anywhere. While specific details about the features and functionalities of the mobile platform are not mentioned, it is expected to offer real-time market data, order execution options, and account management capabilities.
Moreover, The Active Traders recommends utilizing popular and widely recognized trading platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5). These platforms are renowned for their stability, reliability, and comprehensive set of features. Traders using MT4 or MT5 can benefit from advanced charting tools, a wide range of technical indicators, automated trading capabilities through expert advisors (EAs), and access to a vast marketplace of trading apps to further enhance their trading performance.
Deposit & Withdraw
The Active Traders broker offers various deposit and withdrawal methods to its clients. The available options for funding an account include credit/debit cards (Visa, Mastercard), bank transfers, and e-wallets such as Skrill and Neteller. The minimum deposit amount is 300 EUR, which is relatively high compared to other brokers.
The withdrawal process is relatively straightforward, and clients can use the same payment method used for the deposit. However, there is a minimum withdrawal amount of 50 EUR, and the broker charges a 25 EUR fee for each withdrawal. This fee is quite high compared to other brokers.
The processing time for withdrawals can take up to five business days, depending on the payment method used. It is also worth noting that there have been reports of delays in processing withdrawal requests and difficulty in withdrawing funds, which is a cause for concern.
Pros and Cons
Spreads & Commissions
The information provided suggests that The Active Traders does not provide comprehensive details about the fees and commissions associated with their trading accounts. While they advertise an Absolute Zero account with raw spreads, there is a lack of information regarding the specific commissions that may be charged for this account type. Additionally, the overall fees are not mentioned, and trading costs remain hidden, leaving potential traders uncertain about the total expenses involved in trading with The Active Traders.
Regarding spreads, it is mentioned that the benchmark EUR/USD pair had a floating spread of around 0.5 pips, as tested on The Active Traders' demo account. This indicates that the broker offers relatively tight spreads for this particular currency pair, which can be considered favorable for traders.
However, it is important to note that the lack of transparency surrounding fees and commissions can be a significant concern, as traders need to have a clear understanding of the costs involved in their trading activities. Therefore, prospective clients are advised to seek further clarification and detailed information about the fees, commissions, and any other charges before engaging with The Active Traders.
Pros and Cons
Leverage
The Active Traders offers leverage options to its clients, allowing them to amplify their trading positions. While specific details about the leverage offered are not provided in the given information, it is stated that the broker provides leverage up to 1:1000, which is significantly higher than what most brokers offer.
Pros and Cons
Customer Support
The Active Traders provides customer support services to assist their clients with their inquiries and concerns. The broker offers multiple contact methods for customers to reach out to their support team.
Telephone: Clients can contact The Active Traders' customer support team by phone using the provided telephone number, +44 2038078617. This allows for direct communication and real-time assistance with any urgent matters or queries.
Email: Customers can also reach out to The Active Traders via email by sending a message to support@theactivetraders.com. This method provides a written record of communication and allows for more detailed explanations or attachments, if needed.
Company Address: The Active Traders provides their physical company address as Sfp 9 Ensign House, Admirals Way, Marsh Wall, London, E14 9XQ. This information can be used for any necessary correspondence or inquiries related to the company.
While the contact information is provided, specific details about the availability and responsiveness of the customer support team are not mentioned. It is important for traders to assess the quality and effectiveness of the customer support services through their own experience and feedback from other clients.
Conclusion
In conclusion, The Active Traders presents both advantages and disadvantages for potential traders. On the positive side, the broker offers a wide range of tradable assets across different markets, high leverage options, and user-friendly trading platforms such as MetaTrader 4 and 5. The availability of multiple payment methods and 24/5 customer support service also adds convenience for traders. Additionally, the tight spreads for the EUR/USD pair can be considered favorable.
However, there are significant concerns regarding the broker's legitimacy and regulatory status. The low score for regulatory compliance and the lack of transparency regarding their license raise doubts about the broker's credibility and the potential risks involved. Furthermore, the unclear terms and conditions for bonuses and withdrawals, as well as the high withdrawal fees, add to the concerns. The suspicious nature of the broker's operations and the reports of withdrawal delays further contribute to the overall lack of trustworthiness.
Considering these factors, it is strongly advised to exercise caution and thoroughly research before considering any engagement with The Active Traders. Traders should prioritize the safety of their funds and seek out brokers with a reputable regulatory status and transparent trading conditions.
FAQs
Q: What is The Active Traders, and should I invest money in it？
A: The Active Traders is a fraudulent online financial service provider with no license. If you have been scammed by such, let us know, and we may be able to help with a refund.
Q: Does The Active Traders Broker offer a demo account？
A: No, the broker doesn't offer a Demo, only Live account types starting at 300 EUR.
Q: What is the minimum deposit with The Active Traders？
A: The minimum deposit with The Active Traders broker is 300 EUR for the Silver account.
Q: How long do The Active Traders withdrawals take？
A: The Terms and Conditions didn't specify the withdrawal processing time.
Q: Is The Active Traders legit？
A: Based on the information provided, The Active Traders appears to be an offshore scam broker that operates without proper regulation and is not licensed by any major licensing providers. It is not recommended to invest funds with The Active Traders. Thorough research and due diligence are essential before investing with any brokerage to ensure the safety of your funds.
Q: What market instruments does The Active Traders offer？
A: The Active Traders claims to offer a variety of market instruments across six different asset classes, including forex, commodities, indices, shares, and futures. However, due to the suspicious nature of the broker, caution should be exercised, and thorough research should be conducted before engaging with their services.
Q: What are the account types offered by The Active Traders？
A: The Active Traders offers four account types: Silver, Gold, Diamond, and VIP. While specific details about the features and benefits of each account type are not provided, higher-tier accounts generally offer more advantages and perks compared to the lower-tier accounts.
Q: What trading platforms are available at The Active Traders？
A: The Active Traders offers a web-based trading platform and a mobile trading platform for on-the-go trading. They also recommend utilizing popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), but it's unclear if these platforms are actually offered.
Q: What are the deposit and withdrawal options at The Active Traders？
A: The Active Traders offers various deposit methods, including credit/debit cards, bank transfers, and e-wallets such as Skrill and Neteller. The minimum deposit amount is 300 EUR. The withdrawal process allows clients to use the same payment method used for the deposit, but there is a minimum withdrawal amount of 50 EUR and a high withdrawal fee of 25 EUR per withdrawal.
Q: What are the fees and spreads at The Active Traders？
A: The information provided does not give comprehensive details about the fees and commissions associated with the trading accounts. The lack of transparency regarding fees and commissions is a concern, and traders should seek further clarification before engaging with The Active Traders.
Q: What leverage does The Active Traders offer？
A: The Active Traders offers leverage up to 1:1000, which is significantly higher than what most brokers offer. However, higher leverage increases risk, and inexperienced traders may face challenges managing high leverage.
Q: How can I contact The Active Traders' customer support？
A: The Active Traders' customer support can be reached by telephone at +44 2038078617 and email at support@theactivetraders.com. The provided company address is Sfp 9 Ensign House, Admirals Way, Marsh Wall, London, E14 9XQ.
2023-02-21 18:02
2022-12-13 18:29
