Apex Coin Trade is now the talk of the town after it was stated by the platform it opens traders with a wide range of opportunities and many discussions about the broker are happening in various online discussion forums on its efficacy. However, is it really a safe broker? This is a question that can be answered only after we study the various aspects of the broker. So to find out if Apex Coin Trader is a safe broker or not, scroll down.
Is Apex Coin Trade A Safe Broker?
There are a few things that you need to be aware of before concluding whether Apex Coin Trader is a safe broker or not.
The first and foremost factor is the regulation of the broker. Primarily, there are three categories of regulators and they are the following:
- Top-tier
- Mid-tier
- Low-tier
In this top-tier regulators are the ones that are considered to be the best in regulation trading brokers. These regulators impose strict and stringent rules and conditions that ensure that the brokers are fair and do not scam the customers. If a trading broker is regulated by top-tier regulators, the broker is guaranteed to be legitimate and safe. Now when it comes to Apex Coin Trade, it isn’t regulated by any top-tier regulators.
Now let’s discuss what mid-tier regulators are. Mid-tier regulators are the ones that secure the regulation of brokers but aren’t as strict as the top-tier. These regulators might offer protection but won’t be able to detect all problems or issues which means less safety for the investors.
When it comes to low-tier regulators, they aren’t really considered professional regulators that you can rely on. If a trading broker is regulated by low-tier, you must be skeptical about its authenticity because low-tier regulators do not have the resources and security to find scams and there is a high possibility that you might become prey to fraudulent activities.
So considering that Apex Coin Trade isn’t regulated by a top-tier regulator, we cannot conclude it to be a safe broker.
Here Is How To Retrieve Your Funds After Scammed By An Unsafe Trader Broker
Since there are many unsafe and scam brokers, many people lose their funds to these brokers and are left in a position where they aren’t able to do anything. But this does not have to be the case. There are many ways in which you can retrieve your funds after getting scammed some of which are the following:
- You have the option to initiate a chargeback which is a feature offered by payment systems where the payment system or your bank gets the right to reverse your fund from the broker’s account. This feature has been offered by almost all payment systems and banks for client protection.
- If you are scammed by an unsafe trade broker, you may take legal action against the company and issue a legal notice against its functioning. This can prevent the transfer of assets out of the court’s jurisdiction.
- Another way to retrieve your funds is by reporting the broker to its regulators which can help you get your funds back.
An important thing that you need to keep in mind is to keep any proof that you have which includes documents, screenshots, chats, emails, and everything else that can help in receiving your funds back because the more proof that you have the more possibility of return of money.
