ADN Markets Review Scam Complaint
ADN Markets Review – An Introduction
ADN Markets is an offshore forex broker. It is owned and operated by ADN Markets Limited which is registered in St Vincent and the Grenadines. The broker is not regulated and with no regulatory status we can’t be certain about the company’s authenticity. Moreover, SVG, i.e. St Vincent and the Grenadines is an offshore zone which is known for its loose taxation and no regulations for the financial service providers.
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About the ADN Markets:
The broker ADN Markets offers leverage up to 1:200 which is high and many jurisdictions provides cap to significantly lower level of leverage to retail clients. Higher level of ratio involves higher level of risk, this may seems good to some traders but here the broker is not regulated. ADN Markets provides around 50 currencies and some very popular crypto currencies on the much known MT4 platform. Minimum deposit of dollar 500 is required to open an account for trading with the broker and it also provides a demo account. The disturbing thing with this broker is that the MT4 platform on its web page is provided by the third party, PHP Solutions Inc.
The spreads of 0.1-0.2pip on EUR/USD along with no commission offered by the broker are too good to be true. Apart of this its trading costs are very low, there is no way to generate profit for the broker. If the information provided on the website of ADN Markets is considered no authentic regulatory license is found which shows that it’s a scam broker and if client falls victim there is no authority to protect them. Spain’s financial regulator CNMV, has issued a warning against the broker. Therefore, the broker is definitely operates illegally in spain and Europe’s markets.
Is ADN Market legit or scam?
ADN Market is an offshore unregulated forex broker. The broker majorly targets Spanish investors or those who can speak Spanish as their website is available in only Spanish language. However, the broker is not authorized to operate in Spain or EU and not even in any other market. The broker is not licensed in any way and therefore not overseen by any governmental agency, which brings along major risk to its clients. That’s why the Spanish financial agency has warned against the ADN Market. Every reputed and legit forex broker is generally licensed by national or state financial authorities. Hence, keep your funds safe and secure from this broker.