AI Markets – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
AI Markets - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2020
AI Markets is basically an anonymous brokerage that tries to fool customers with a sense of legitimacy by overloading us with fake corporate information. The broker claims that it is owned and operated by a company called AI Markets Ltd. However, when we carried out a search to find out more about this company, there is absolutely no information about it available.
The broker also claims to be based in Switzerland, but when we researched the address and contact number provided on AI Markets’ website, we found out that it actually belongs to a pharmaceutical company.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://ai-markets.ch
Founded: 2020
Regulations: Unregulated
Languages: English
Deposit Methods: Bank Draft, Wire Transfer, Credit/Debit Card
Minimum Deposit: $500
Free Demo Account: No
Number of Assets: N/A
Types of Assets: Cryptocurrencies, Stocks, Foreign Currencies, Indices, Commodities
Trading Accounts and Conditions
AI Markets offers its customers 3 types of trading accounts:
- Mini: The minimum deposit is $500.
- Classic: The minimum deposit is $5,000.
- Premium: The minimum deposit is $20,000.
The Account Types page does not mention the trading conditions, but we were able to find out what they were by accessing this broker’s trading platform. The maximum leverage offered is 1:500 and the spreads start from 0.7 pips.
AI Markets – Advantages
There are no advantages to trading with AI Markets.
AI Markets – Disadvantages
Here is why it would not be a good idea to do business with AI Markets:
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Anonymous and Unregulated Broker
AI Markets is basically an anonymous brokerage that tries to fool customers with a sense of legitimacy by overloading us with fake corporate information. The broker claims that it is owned and operated by a company called AI Markets Ltd. However, when we carried out a search to find out more about this company, there is absolutely no information about it available.
The broker also claims to be based in Switzerland, but when we researched the address and contact number provided on AI Markets’ website, we found out that it actually belongs to a pharmaceutical company.
When you read through the Terms and Conditions section on this broker’s website, there is mention of the company having a presence in the Marshall Islands, which is an offshore zone.
What all this information tells us that this broker has clearly hidden its identity and is operating anonymously.
Now, with regard to AI Markets’ regulatory standing, we can safely say that this broker is unregulated. To operate in Switzerland, a brokerage needs to be issued a license from the regulatory authority there – the FINMA. However, when we checked their online register, we could not find any company or broker called AI Markets listed on their regulated company database.
Thus, what we have here is an anonymous and unregulated broker – the worst kind of scammer!
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Unfair Bonus Conditions
First of all, AI Markets offers its clients bonuses. What you need to be aware of is that bonuses have been banned in the UK, the EU, and many other parts of the world for some time now. This is because of the unfair terms and conditions attached with such bonuses. And this broker once again proves why these bonuses are illegal.
If you avail of the bonuses offered by AI Markets, you will need to trade $20,000 for every single bonus dollar that you have been given! So, if you have been awarded a $100 bonus, then you will need to trade $2 million in volume before you will be allowed to withdraw your funds!
This is a trading volume target that most people will never be able to reach. Therefore, they never get to withdraw their funds.
This is a tactic that is typically used by scammers to divest unwary traders of their money.
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Web Trader Platform Offered
This is another sign that AI Markets is only out to scam traders. Reputed brokers offer their clients the use of the MetaTrader 4 or 5 software. These two platforms are the best in the world; they are so easy to use that even novices will have no problem making trades on these platforms. Furthermore, they have great tools for advanced trading, which is why even pro traders love these platforms.
What you get with AI Markets, on the other hand, is a simplistic web-based trading platform whose charts belong to a third-party company called TradingView. You will not get many tools or even trading instruments on the platform offered by this broker.
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High Leverage
The maximum leverage offered is 1:500, which is extremely high. When you trade in the forex market, you are dealing with huge volatility, which means high risk. When you take on leverages that are too high, you multiply that risk even further, even if you are an experienced trader.
Added to that, leverages of more than 1:30 are not allowed in the EU, of which Switzerland (where this broker claims to be based) is a part. So, once again, this broker has broken the law in offering such high leverage ratios.
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High Minimum Deposit
The minimum deposit you are asked to make to start a trading account with AI Markets is $500, which is about twice as high as the market average. Most brokerages that are worth their salt do not ask for a deposit of more than $100 to $250, and there are many excellent ones that require you to make minimal deposits of as little as $5.
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High Transaction Amount Requirements
The minimum transaction amounts are also not favorable for traders with this broker. For example, if you use your debit or credit card for your transactions, you need to make transfers of not less than $250. If you use a bank draft, then the minimum transaction amount is $500. And if you do a wire transfer, that amount is a whopping $10,000.
This amounts are much higher than other – regulated – brokers and is yet another sign that AI Markets cannot be trusted.
Conclusion
AI Markets is anonymous, unregulated and has very unfair terms and conditions which are designed to take money from traders. The type of trading platform this broker offers is also sub-par, and the trading conditions are not the best either. Everything we have learned about this broker clearly tells us that it cannot be trusted. We would not recommend AI Markets to any trader.
AI Markets
Pros
- None
Cons
- Anonymous and Unregulated Broker
- Unfair Bonus Conditions
- Web Trader Platform Offered
- High Leverage
- High Minimum Deposit
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.