ApolloX Review
Beware Investors ApolloX – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Who is ApolloX:
ApolloX claims to be a leading global financial services provider, with offices in London, New York, Hong Kong, and Dubai. The company says it offers a wide range of products and services, such as forex, stocks, commodities, cryptocurrencies, indices, futures, options, and CFDs. It also claims to have a proprietary trading platform, called ApolloX Pro, that allows users to access multiple markets and execute trades with high speed and accuracy. ApolloX also says it provides educational resources, market analysis, and customer support to its clients.
Regulation:
According to the ASC, ApolloX is not registered to trade in or advise on securities or derivatives in Alberta. This means that the company is operating illegally and may be violating securities laws. The ASC warns that unregistered platforms are often involved in scams and frauds and that investors may lose all their money if they deal with them. The ASC also advises investors to check the registration status of any person or company offering securities or derivatives before investing with them.
Location:
ApolloX does not disclose its physical address or contact information on its website. This raises doubts about its legitimacy and transparency. The company only provides an email address and a phone number for customer support, but these may not be reliable or verifiable. The company also claims to have offices in various countries, but there is no evidence to support this claim. ApolloX may be operating from an offshore location or a high-risk jurisdiction, where it can evade regulatory oversight and legal action.
Services:
ApolloX offers a variety of financial services that may seem attractive to investors who are looking for high returns and low fees. However, these services may also entail high risks and hidden costs. For example, ApolloX offers leveraged trading, which means that investors can borrow money from the platform to increase their exposure to the market. While this can amplify potential profits, it can also magnify potential losses. Moreover, ApolloX may charge high-interest rates, commissions, spreads, and other fees that can erode the investors’ profits or increase their losses.
Reviews:
ApolloX does not have many reviews or testimonials from its clients on its website or other online platforms. This suggests that the company has a low reputation and credibility in the market. The few available reviews are mostly negative or suspicious. Some reviewers complain about poor customer service, delayed withdrawals, hidden charges, account manipulation, and other issues. Some reviewers also accuse ApolloX of being a scam or a Ponzi scheme that does not pay out its clients.
Customer Service:
ApolloX claims to have a professional and responsive customer service team that is available 24/7 via phone, email, or live chat. However, this may not be true or consistent. Some clients report that they have difficulty reaching customer service representatives or getting satisfactory answers from them. Some clients also say that they have been ignored, blocked, or harassed by customer service agents when they try to withdraw their funds or complain about their problems.
Securing Your Investments Against Unscrupulous Brokers:
If you are considering investing with an online platform like ApolloX, you should be cautious. You should do your own research and due diligence before trusting any person or company with your money. You should also follow these tips to protect yourself from scams and frauds:
– Check the registration status of the platform with your local securities regulator or authority.
– Verify the physical address and contact information of the platform.
– Read the terms and conditions of the platform carefully and understand the fees and risks involved.
– Avoid platforms that offer unrealistic returns or guarantees.
– Avoid platforms that pressure you to invest quickly or deposit more money.
– Avoid platforms that ask you for personal or financial information via email or phone.
– Keep records of your transactions and communications with the platform.
– Report any suspicious or illegal activity to your local securities regulator or authority.
Conclusion:
ApolloX is a new online platform that claims to offer various financial services, such as trading, investing, and lending. However, the ASC has warned that the company is not registered to operate in Alberta and may be involved in fraudulent activities. Investors should be wary of dealing with ApolloX and other unregistered platforms that may pose high risks and costs to their investments. Investors should also follow some tips on how to secure their investments against unscrupulous brokers.
