Audemart is scam broker website, there’s no subtle way to say it. They actually took the time to design a proper website to enable them lure unsuspecting traders. Ensure you read this review about audemart.com before you consider trading with them.
Forex trading is an increasingly lucrative modern market. And as such, it is subject to modern problems such as online scammers and illicit broker websites. So in order to keep traders from them, we have made it our duty to review forex broker websites, then help you tell which one is legit and which one’s not. This review tells you all you need to know about Audemart Brokers.
About Audemart Broker
Audemart is a forex brokerage company, according to their website, was founded in 2004. From the same source, they claim to be located in Zurich, Switzerland. However, different sections of the website reveal deifferent locations, but we will address that shortly.
Audemart.com trades in bonds, commodities, forex and stocks. Yet, for a broker that claims to have been around for at least a decade, there are more than a few shady things to point out about their website.
Audemart.com: Red Flags Detected!!!
Here are a bunch of red flags found while exploring audemart.com.
Audemart Withdrawal and Deposit Policy
There is no minimum deposit amount stated on the website. The payment gateways used as displayed on the homepage include; wire transfer, debit/credit cards, swift, etc.
On the other hand, there’s no minimum withdrawal specified. It is mentioned though, in the withdrawal terms and conditions, that withdrawal requests could take up to 7 working days to process. We find this disturbing, considering legit brokers could get it done under 24 hours.
The withdrawal fee is not specified, instead, you are told that “a suitable fee” will be charged upon withdrawal. This clause gives the broker liberty to charge whatever they want. It is a common trick used by scam brokers. Beware!
The account dormancy policy states that after 3 months of inactivity, the broker will deduct 10% of your balance with them each month. This is a huge blow, especially for traders with a lot of money in their accounts. And finally, there’s this;
The clause above, basically prevents you from withdrawing any profit you make in the cause of your trade. If this isn’t a red flag, we don’t know what is.
Audemart Trading Platform
The Audemart.com trading platform is not one that should get you excited. They do not provide the traditional Metatrader 4 or Metatrader 5 trading platform. What they provide is a custom trading platform designed for their website. This is usually the case with shady brokers.
To worsen the case, for a broker that’s presenting an unfamiliar platform, there’s no demo account to help traders understand the platform better. Legit brokers always provide a demo account to help you get familiar with the system. This is a red flag!
There is also no info about the account types or any of it’s parameters such as maximum leverage, spread, lot, etc. Leaving out such info surely means it doesn’t mean much to them, making them a scam broker.
Audemart Licensing and Regulation
First of all, Audemart seems to not be entirely sure about where they are located. There are at least four different locations on the website. Let us analyse each of them;
In the Contact Info section, they claim to be located in Zurich, Switzerland. But further down the page, there are two other addresses given; one in Roosikrantsi, Estonia and the other in Kingstown, St. Vincent and the Grenadines.
Now, we were unable to find any records of Audemart in either the FINMA or FI registry (Swiss and Estonian regulatory bodies respectively), but even more interesting is the fact that the last country mentio; SVG, is an offshore broker location. The SVGFSA outrightly stated that they do not regulate brokers. Since then scam brokers have made a home there.
Finally, as shown above, this broker claims also operate under Bulgarian law. However, the company was not found there either.
The summary of it all is, audemart.com is an UNLICENSED broker. They are not recognised by any of the countries the claim affiliation with.
Conclusion: Is Audemart.com a Scam Broker?
Yes! Audemart is a scam broker! Behind their really good-looking website lies a pack of hungry clause that will tear your funds apart should you deposit with them. Hence, we cannot recommend this broker to you, and we advise you deal with a transparent broker who’s licensed by a reputable agency.
However, if you’ve got anything else to say about this broker, do mention it in the comments section.
Our Recommendation For You
You can make money online by trading with reputable, reliable and trustworthy brokers. We’ve been trading with the Fortrade broker below for sometime now and we have no regrets!
FORTRADE- One of the Top rated brokers and a good choice for new traders. This broker is Licensed in UK(FCA), Australia(ASIC) and Belarus(NBRB). Guess what? you can trade from any part of the world as it accepts Traders Worldwide. Interested in trading with one of the best Forex brokers? Head Over to Fortrade and start trading!