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Apollos Capital Review - is it scam or safe?

Apollos Capital review - Is apolloscapital.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Apollos Capital
Apollos Capital is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Apollos Capital is presented as a global forex and CFD broker offering over 60 currency pairs and lots of other CFDs on stocks, indices, commodities, precious metals and crypto coins with leverage as high as 1:500, a choice of four account types and the MetaTrader4 platform.

 

Account type Min. deposit Max. leverage Spreads/ Payout
Micro Account $250

1:500

1,7 pips
Standard Account $500 1:300 1 pip
Premium Account $25 000 1:100 0,6 pips + $6/lot
VIP Account $100 000 1:100 0,2 pips + $6/lot

 

And although this might sound as an attractive deal, you should bear in mind that not only Apollos Capital is not licensed and authorized to provide any kind of financial services on regulated markets like the EU for example, but also the website is completely anonymous – there is no information about the company that provides the above mentioned services, no contact address, not even a phone number. 

 

And it was not a big surprise when we found out that Apollos Capital  has already been blacklisted both by the Financial Market Authority (FMA) in Austria and by CONSOB – the financial regulator in Italy. So if you are considering to deposit any money with Apollos Capital  be sure to read the following review.

 

Apollos Capital Advantages:

 

A comprehensive selection of trading instruments, generous leverage

 

If we are to talk about possible advantages, with Apollos Capital that could be the large selection of trading instruments – over 60 currency pairs and lots of other CFDs, offered with leverage as high as 1:500 and a minimum deposit requirement of just 250 USD, which is more or less what most other brokers would also require. 

 

And Apollos Capital even offers some crypto CFDs, but if you really want to trade the crypto markets we would better suggest to that you try a regulated broker offering bitcoin CFDs:

 

 >>Bitcoin Forex Brokers<<

 

Apollos Capital Disadvantages:

 

Anonymous website, blacklisted by FMA and CONSOB

 

As we already noted, the Apollos Capital website is completely anonymous – we do not know, which is the company that runs the business, we are not given any contact information, and what is even worse   Apollos Capital has already been flagged as a scam broker both by the Financial Market Authority (FMA) in Austria and CONSOB in Italy. You can see the warning here:

 

 

So our best advise in such cases is to trade only with legit and proven brokers, like the ones licensed and authorized by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).

 

Properly regulated brokers have to abide by a strict set of rules, among which to allow external audits and file regular reports, to keep their clients' capital in a segregated, protected form creditors, trust account, to maintain at all times a certain minimum operational capital, and in some cases even to insure traders' funds. 

 

And because with a FCA broker, your funds will be protected by an insurance policy of up to 85 000 GBP, payable in the unlikely event your broker files for bankruptcy, here you may check as well our list of brokers, regulated in the UK:

 

>>FCA Regulated Forex Brokers<<

 

Trading bonuses

 

There is a general problem with all trading bonuses - the additional withdraw conditions they are always accompanied with. For example you will have to meet some minimum trade volume requirement, which the scammers usually reserve the right to change on the move, and which by definition is used as a pretext to cancel your withdraw requests. So you should not be surprised that trading bonuses are banned altogether on regulated market like the European Union for example.

 

High spreads

 

As tested wit a demo account the benchmark EURUSD spread floated above 1,7 pips, and that is higher than the levels, traders would usually consider attractive with a standard account. So here you may also check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Few payment methods, Skrill not accepted

 

As it turned out Apollos Capital accepts payments with bank wire transfers and credit cards, but not some popular e-wallets like Skrill. This is interesting especially if we take in to account the fact that Skrill partners only with regulated brokers, and as we already established Apollos Capital is just an anonymous website with a recent warning. Here you may check our list of brokers accepting payments with Skrill:

 

>>Brokers accepting Skrill<<

 

MetaTrader4 provided by a third party 

 

The MetaTrader4 platform that we downloaded from the Apollos Capital website is branded and provided by Solid Pus Ltd. bear in mind that this is not a standard practice – platforms are usually branded with the logos of their broker.

 

In any case MT4 is a fine trading platform, featuring well over 60 customizable market indicators and trading robots with the help of which one can easily run automated trading sessions. And on top of this MT4 comes with a user friendly set of advanced charting tools, so here you may also check our list of brokers offering MetaTrader4: 

 

>>MT4 Brokers<<

 

Conclusion:

 

Apollos Capital is an obvious scam even without the recent warnings by the financial authorities in Austria and Italy. Their website is completely anonymous, and if you decide to deposit your cash with them it will be as if you are trowing your money out of the window on a busy street. So here once again we will repeat our usual advise to trade only with properly regulated brokers, like the ones regulated by the FCA in the UK, CySEC in Cypus or ASIC in Australia.

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Traders` reviews for Apollos Capital

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