AroTrade Review

Overview:

The offshore FX and CFDs broker AroTrade features five different trading accounts. It also offers a swap-free Islamic account for Muslim traders and a demo account for all traders. The fine distinction of the above-mentioned trading account is only with initial deposits, all the other trading parameters are the same. Such initial deposits avail of different bonuses but not a better trading environment. These bonuses require a higher trading volume for their withdrawals. Find out more in this AroTrade review.

About AroTrade:

The traders of AroTrade can make use of more than a thousand international assets as CFDs. The CFDs on FX pairs, shares, commodities, indexes, and a variety of cryptocurrencies. The cryptocurrencies include Bitcoin, Ethereum, Ripple, Litecoin, Dash, and more. All of these cryptos can be traded against USD, EUR, AUD, USDT, many more.

The broker provides leverages of 1:200 on all the trading accounts. This provided leverage can suit many traders. Also, higher levels of leverages come with drawbacks. These are rapid and heavy losses.

The customers of AroTrade are provided with deposit and withdraw methods of many forms including bank transfer, card, Qiwi, Yandex, AstroPay, Web Money, Skrill, and Neteller.

It is evident from the website of the broker that Speed Solutions Ltd is its owner. It has a license from the International Financial Services Commission of Belize. Belizean offshore zone is the one where many forex scam brokers are situated. The financial regulation is somewhat tighter than those regulations of Seychelles or Saint Vincent and the Grenadines but is insufficient to curb the scam.

AroTrade does not offer the MetaTrader platform. Alternatively, it offers an over-simplified web-based platform. That is used for binary options traders. AroTrade provides a fixed spread of 3 pips on EUR/USD FX pair. This is a higher spread which increases the cost of trading and not favorable.

Is AroTrade scam or legit?

The broker provides its traders almost everything under the sun. But it lacks the most important aspect of any broker that is regulation and licensing. For the same reason, we can not recommend this forex scam broker.