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Argon Trades Review
If you have done your homework, then you are probably aware that the online broker you choose for your trading needs will make a big difference in your overall experience and performance. The market might be filled to the brim with companies that are offering their services, but they are definitely not created equal. Their services and offerings will vary significantly and you have to put in some time and effort to make a smart choice that pays off in the long run. That’s the whole purpose of this Argon Trades review.
Claiming to be a multinational and fully licensed broker, Argon Trades promises to make trading accessible and simple for everyone by offering a secure and transparent environment. According to their website, they have their headquarters located in Luxembourg and also have offices in the United States. Their offerings include tight spreads, lightning fast execution of your orders and a slick, intuitive and powerful proprietary trading platform that can suit traders of all backgrounds, from beginners to professionals. All of this sounds fantastic and you think you are making a smart choice, but are you? Check out this review to know:
False claims about licensing and regulation
The first thing you will discover about Argon Trades is that they are lying about their licensing and regulatory status. As per its website, the broker has its offices in Luxembourg and is regulated by the CSSF (Commission de Surveillance du Secteur Financier). However, a check of their online register shows that the broker is not listed.
They also claim to have offices in the United States and in order to do that, Argon Trades would have to have a license from the Commodities Futures and Trading Commission (CFTC) and also need to be a member of the National Futures Association (NFA). You can check both their registers and you will not find Argon Trades or even Argon Trades Inc. listed, which means it is lying.
Furthermore, the Terms and Conditions on the Argon Trades website mention that a company named XTB Limited is used for executing client orders. This is also a red flag because this company has been blacklisted by the Financial Conduct Authority (FCA) in the United Kingdom. All of this indicates that Argon Trades is up to no good.
Problematic Terms and Conditions
Along with the lack of licensing and regulation, you will find a number of other problems with Argon Trades that become evident when you check out their Terms and Conditions. First off, it is highly likely that you will not be permitted to make any withdrawals on their platform. Why? This is because they have stated that they can impose limits on your withdrawals at any time, something a legitimate broker would never do.
If that wasn’t enough, Argon Trades has also mentioned that they will also charge you every time you make more than a single withdrawal per month. They have mentioned additional charges will be applicable, but fail to disclose what these will be. This is another shady condition that you will not find with any authentic broker.
No MT4 or MT5
Your trading experience depends significantly on the trading platform provided to you by a broker and this varies from company to company. At Argon Trades, they are promising an unknown trading platform that you know nothing about. Of course, they have claimed that it is intuitive, slick and powerful, but the fact is that the MT4 and the MT5 trading platforms are considered the industry standard.
These are technologically advanced and innovative trading solutions packed with top-notch trading tools that have made then industry-leading solutions. Every professional brokerage offers you one of these solutions, yet Argon Trades is offering an unknown and basic trading platform.
Considering the outright lie Argon Trades puts forward about its regulation and its exploitative T&Cs, signing up with this broker is definitely not a smart choice.