Negative Reviews: UK FCA Warned Against Unregulated FX Broker Areatrading

Warnings

Since a regulated broker often presents the regulatory information at the bottom of the homepage or in a specific section, equivocating about its regulation makes Areatrading a suspicious broker. It presents nothing about its regulation on its website (https://www.areatrading.io/), but only a telephone number in “Contact” belonging to the UK. Under this circumstance, we searched UK FCA, the only forex regulator in the UK, and found that Areatrading is a warned forex broker.

On August 16, 2022, UK FCA warned the public that Areatrading is a forex broker without authorization. And notice investors protect themselves.

Three days after that, the Swedish Financial Supervisory Authority (Swidish FSA) AKA Finansinspektionen (FI) also issued a warning to remind traders that Areatrading is not authorized by FI to provide financial services.

Above all, we can conclude that Areatrading is scam.

Negative Reviews

Reviews about the scammer are easy to find online, but the reviews are highly polarized. Some credit Areatrading for helping them make a lot of money, but others accuse the broker of being a scam. However, the latest updated reviews are almost negative after the scammers were warned by the forex watchdog.

A victim directly pointed to the fact that the UK FCA warned Areatrading. The scammer's repley was ambiguous. It did not outright deny the warning but implied that the victim was a competitor who wanted to make untrue claims about the company.

Another client wrote the review when he or she had just signed up with the broker, saying he or she was hoping that the company is not a scam. And the broker replied that “looking forward to your (the client) future results”.

However, in the newest update, this client accused Areatrading of being a scam and listed the reason why he or she thought this broker is a scammer. And Arearading also changed its friendly attitude to suggest that the other party was smearing itself.

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