Table of Content
CeloMarkets Review: Worst Broker You’ll Ever Encounter
Table of Content
CeloMarkets Review, This broker is confusing as it could be. Besides their poorly designed website that doesn’t provide any relevant information to traders, they don’t provide any security at all. The broker is allegedly based in Austria, but T&Cs state that they should comply with UK laws.
They are luring their clients through BitAI automated system for trading and mostly targeting German speakers. We expect BaFin to react very soon on this topic.
To sum it up, this broker is nothing but a swindler. They are just scamming people and you will see how further in this CeloMarkets broker review.
|Minimum Deposit||250 EUR|
|Review Rating||2.1 on Trustpilot|
|Broker Type||Non-regulated scam broker|
CeloMarkets Regulation and Safety of Funds
Since CeloMarkets broker presents itself as an Austrian company it should comply with Australian regulations instructed by FMA. By checking their database, we were satisfied because we got another confirmation that this was an investment scam.
They don’t have any license provided by FMA or any other Tier 1 Regulator in Europe like FCA, BaFin, or CONSOB.
As that being said, we can confirm that all of the funds that clients deposit here are at the mercy of this broker.
Why we always recommend customers looking for a regulated broker simply because of security. They can provide you with adequate education and support in trading, endless possibilities on financial markets, trusted trading platforms, and many more.
CeloMarkets Trading Platform
From such a presentation and the perfect platform for crypto trading, we were expecting much more. However, what you get with this broker is just a basic web trader without any advanced tools. What they call advanced tools is TP and Stop Loss option which is a default option in any third-party trusted software.
What very often happens with platforms like these is that they are manipulated. Since the broker offers BitAI automated system there is a chance that you will see magnificent results in a short period. Don’t get tricked by that, because all of that could be made up by scam brokers like CeloMarkets.
CeloMarkets broker doesn’t provide any information about leverage or spreads. So, to get access to that information you have to leave your personal information with them. This is a huge no for us because this scam broker is not trusted.
What you should look for are trusted platforms like MT4/MT5 or cTrader. Those are mostly used by licensed brokers and they provide a vast of features like copy and social trading, advanced charting tools, and many more.
Account Available at CeloMarkets
This broker only offers live trading accounts with embarrassing requirements. For such an untrusted broker to have an account with a 500k requirement it’s complete nonsense.
- Bronze ( Starter ) 250 – 10.000 EUR
- Silver ( Advanced ) 10.000 – 100.000 EUR
- Gold ( Professional ) 100.000 – 250.000 EUR
- Platinum ( VIP ) From 500.000 EUR
For every account minimum investment is 25 EUR. Any account besides bronze entitles you to more than a 50% bonus and guaranteed annual return that ranges from 24 to 60 %.
Just be careful about bonuses. Those are tricks that scam brokers are using because nobody reads the bonus policy. If you accept a bonus you need to make a rollover 30 times bigger than your investment to be able to withdraw the funds.
Unlike many licensed companies, this broker doesn’t provide access to a demo account where you can check the platform and trading conditions. They go straight to the point, to extract as much as they can as fast as they can.
CeloMarkets Deposit and Withdrawal
This is another mystery with this broker. It is not specified what deposit methods are available. Let’s assume they offer cards, bank transfers, and crypto transfers. None of these are safe with this broker.
Withdrawals are an even more bizarre story. Once you request a withdrawal the company should confirm that withdrawal. That’s where complication starts. They can make up any possible reason why not to do that. Any CeloMarkets review is confirming these statements.
What is the other thing that scam brokers are using is the withdrawal fee scam. They will require you to pay taxes or some additional fees to withdraw your profits. This is nonsense because they should take money for those fees from the profits and balance on your trading account. Taxes are paid by the customer to the designated government body.
On top of this, they charge very big fees for different withdrawal methods and 10% for accounts that didn’t reach a turnover of 200. Unfortunately, they didn’t precise 200 of what.
Got Scammed by CeloMarkets? Chargeback Is The Answer
Many people got caught in these scams because they were greedy and fished by an advert. Your part is to share your story first. That way other people can get an insight into what the broker is doing. Since the broker is not regulated you don’t have anyone to contact.
But if you were scammed by these guys, there is a solution. Our recovery expert team is doing money recovery for years so far. We will assist you in the first steps of a chargeback procedure. That way you can reverse a transaction that was done with a debit/credit card.
Unfortunately, that process is time-limited and depends on the date when did you perform the activity. Don’t waste any more time and contact us now!
FAQs About CeloMarkets Broker
Is CeloMarkets a Good Broker?
To sum it up, no. Broker doesn’t provide any reliability or transparency with its customers. On top of that, they have a lot of negative reviews on trusted user-experience review platforms.
Is CeloMarkets a Regulated Broker?
No. They should have an FMA license based on the address or UK license based on T&Cs. However, they don’t have any. Therefore, your funds wouldn’t be safe with this broker.
What Is The Minimum Deposit For CeloMarkets?
The minimum requirement is 250 EUR. However, that is too much for a broker that is so anonymous like CeloMarkets. The recommendation is to avoid depositing even one cent.