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Chartistake Review: Learn More About Chartistake.Com Broker
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Chartistake is a company that runs a scam in an inconspicuous way. After the research we conducted, we discovered many shortcomings that Chartistake has, with which no brokerage house should enter the financial market.
In addition to this company being unregulated, the software it offers for trading clients is of poor quality. We will cover the key points that every broker must fulfill in order to enter the market with an offer. So read the broker review to the end, and save yourself both from this fraudulent company and others.
Regulation of Chartistake and Funds Security
We have the following information about the company’s headquarters and registration on the website: chartistake.com is operated by Chartistake Markets Ltd with registration number C1190000 C1’GBL and registered in the Republic of Mauritius.
Chartistake Markets Ltd is regulated by the Financial Service Commission of the Republic of Mauritius with an Investment Dealer License number C113012211. All this is a lie and part of a scam.
We checked the register of the Financial Service of the Commission of Mauritius and there is no company called Chartistake Markets Ltd. Although this regulator has low standards for issuing a license, which can be seen from its requirements, it seems that the Chartistake company cannot meet even those requirements.
All this means that the company operates illegally, because, without regulation and headquarters, it has no legal right to enter the market with its financial offer. That would be the first red flag that Chartistake is waving.
Review of Trading Software
Another red flag raised by Chartistake concerns the trading software they offer. It is very bad software with a minimal number of functions.
These functions include stopping loss and profit-taking, as well as the ability to use pending orders. It also has several basic indicators and chart types. This software is far from the industry standard MetaTrader4 and MetaTrader5 which have tons of trading and planning tools and are popular among traders around the world.
The types of accounts at this broker differ both by the minimum deposit and by the trading opportunities that a certain account offers.
Each account offers a different bonus percentage, so the Professional account of $10,000 has a 30 percent deposit bonus, while the Business Plus account of $100,000 has a 100 percent bonus.
Chartistake offers 4 account types.
- Standard Trading Account – $250.
- Professional Account – $10,000.
- Business Account – $30,000.
- Business Plus Account – $100,000.
What Can Be Traded on Chartistake Market?
Just like most other cam brokers, this bogus brokerage tries to offer everything their clients might want. Even though it is a fake offer, Chartistake has the following trading range that it offers to clients:
- Forex – AUD’CAD, USD’TRY, GBP’ZAR
- Commodities – Gold, Palladium, and Natural Gas
- Indices – NASDAQ, FTSE 100, AUS 200
- Shares – Amazon, Apple, Alphabet A
- Cryptocurrencies – BTC, MATIC, ADA
- Futures – FTSE MIB, CSI 300, China A50.
Deposit and Withdrawal Process
broker says it is possible to deposit funds using methods such as credit and debit cards and bank transfers. Although later it turned out that it is possible to withdraw money only through a bank transfer, which is another inconsistency pointing towards fraud.
This requirement is to the detriment of customers as bank transfers are extremely difficult to reverse. This means that it will be difficult for the clients to recover their money when they find out that they have been cheated.
The minimum deposit at Chartistake is $250, which is a lot when compared to regulated brokers that charge $5 to $10 for micro orders.
How Do I Get a Refund If I Was Swindled by Chartistake?
There is a possibility to recover the funds you have invested, even when it comes to scammers like this broker. If you made the payment via a Visa or Mastercard card, you have the possibility to cancel the payment through your bank up to 540 days after the payment.
Another option is to reverse the transfer, which should not be too difficult as long as the recipient’s bank didn’t receive any money. Be sure to report Chartistake to the regulatory body responsible for regulating brokers in your region, so that they can issue a warning.
In end, we’d like to inform you that the broker site is unavailable. This means that you are definitely protected from these scammers. At least for the time being.
But the Internet is flooded with fraudulent brokers, and it is good to know how to recognize the weak points that we can use to easily detect scam brokers such as this one.
These are certainly: being unregulated, having unknown headquarters of the company, bad software for trading, and bad terms and conditions prescribed by the company, which are to the detriment of the user.
We hope that our broker review helped you learn how to evaluate and recognize fraudulent brokers when you come across them
FAQs About Chartistake Broker
Is ChartistakeA Good Broker?
Chartistake is not a regulated company, which means it operates outside the legal framework.
What Are The Funding Methods For Chartistake?
Deposit and withdrawal methods used by Chartistake are credit and debit cards and bank transfers.
Does Chartistake Offer a Demo Account?
Chartistake does not offer a demo account.