The Forex industry can be very confusing, especially when traders start to research different brokers to find the one they would like to trade with. Most of the time, traders will find a neat website with all information at hand, while other times, they will run into brokers whose websites look professional but not all information is available. Even the brokers that look promising need to be double-checked, let alone the ones with confusing website content. Atlantic FS is the broker we will deal with in this review. The broker seems alright except for a small detail which leaves traders wonder. The issue refers to the broker’s name and the website domain name which are different. Read the following Atlantic FS review to find out if that is an issue worth worrying.
Forex Brokers We Recommend
|Broker||Bonus||Min Deposit||Regulation||Review||Visit Site|
|Xtrade||$20 Free||$100||CySEC||Read Review||Open Account|
|XM||$30 Free*||$5||CySEC||Read Review||Open Account|
|AvaTrade||40%||$100||MiFID||Read Review||Open Account|
General Info and the Domain Name
The broker’s name causes a lot of confusion since the official atlanticfs.com website displays the broker company known as Atlantic Securities Ltd. Luckily, we could discard all confusions when we checked in the CySEC register where it clearly says that Atlantic Securities Ltd uses the atlanticfs.com domain name under the license number 005/03. The broker dates back to 2001 when it was established in the nowadays booming Forex center Cyprus. After we resolved the domain name mystery, there is one more thing that could still bother some traders. Namely, the website does not include the SSL-secured “https” sign which indicates that the website might not be protected according to the highest standards. What we can say in the broker’s defense is that it has been successfully licensed with CySEC since 2003 and that it successfully renewed its license before expiry even when CySEC introduced stricter measures and regulations. The broker might have joined CySEC before Cyprus entered the EU, but if the broker had not upgraded its business conduct as CySEC requested, the broker would already be off the list.
The Website Problems Continue
Despite the CySEC license, Atlantic Securities Ltd does not provide valid information on their website. First, the website is supposedly bilingual including English and Greek, whereby the Greek version does not work at all. So, if you are a potential Greek trader do not hit the Greek language button like a maniac, it will not work since the button is “out of order.” Other problems arise when you try to search the website. Namely, no information on platforms is available. The website displays online trading, but yet, if you click on that icon, nothing happens, there is only a picture with a chart but no description of the trading platform. To find the Atlantic FS platform, go to “International Markets” on the website.
Supposedly, there is the Atlantic Global Trade platform for Windows which can be downloaded directly from the broker’s website. Unfortunately, no other details are provided on how the platform works or what options are included. I guess traders are expected to figure out on their own after downloading the proprietary platform.
We were a little bit luckier with the accounts since we found out that Atlantic FS offers one account, but unfortunately, that is already it. The website offers only a downloadable application form in the form of a contract for traders to sign without any information on deposit amount, what they offer, etc. There is no information on leverage, minimum, and maximum trade size, or any other details which traders would like to know.
Atlantic FS Bonus
We can only guess if there is a mysterious Atlantic Securities bonus, but we guess there is not. Many brokers do not publicly announce their bonuses but surprise newcomers when they register anyway, i.e. this gesture is known as a hidden bonus, but we sincerely doubt that there is a bonus waiting for you with Atlantic Securities.
Deposits and Withdrawals
If you want to open an account with Atlantic FS, the website suggests contacting the customer support for more detailed information, so we assume that the customer support will inform you about the payment methods they accept since this information is also not provided.
Atlantic FS offers at least a phone line for customers, as well as e-mail, and an online request form. There is no live chat, but considering the lack of other basic information, this is not a surprise at all. It would be probably the best to contact the support team to find out what the broker really offers.
Atlantic FS or Atlantic Securities Ltd is a subsidiary company of the much bigger and better known Atlantic Insurance Co. Public Ltd which is participating in the Cyprus Stock Market, as one of the largest Cypriot investment firms. The Atlantic Insurance Co. Public Ltd is an insurance company, and they might have entered the Forex business unprepared. Still, it is no excuse, and larger companies should not expand to businesses unfamiliar to them just because they made it in another field. If Forex is nothing for Atlantic Insurance Co. Public Ltd, then they should quit it.