APOLLO Markets Ltd is a Contract for Difference (CFD) broker, with its official website domain registered on July 4, 2024. This broker primarily caters to retail and institutional clients, offering trading services in financial derivatives such as forex, precious metals, commodities, energy, stocks, and indices. It does not provide services to jurisdictions where it may violate local laws or regulations.
Company Registration Information and Regulatory Status
Information on the APOLLO Markets Ltd (www.apollomarketsltd.com) website claims that the platform has licenses from multiple regulatory authorities, including the US Financial Crimes Enforcement Network (MSB ID: 31000264421841), the Australian Securities and Investments Commission (ASIC) (Trading Point of Financial Instruments Pty Limited), the Cyprus Securities and Exchange Commission (CySEC) (Trading Point of Financial Instruments Ltd), the Belize Financial Services Commission (FSC) (APOLLO Markets Ltd, license number 000261309), and the DFSA (Trading Point MENA Limited), adhering to rigorous regulatory standards.
Upon verification, it is found that the company, regulatory information, and website design and content mentioned on the APOLLO Markets Ltd website are copied from and imitate the well-known broker XM. Moreover, the Belize Financial Services Commission (FSC) does not have any company named APOLLO Markets Ltd with the license number 000261309.
Therefore, APOLLO Markets Ltd (www.apollomarketsltd.com) is essentially a fraudulent broker website with no physical company or valid regulation.
Trading Instruments
APOLLO Markets Ltd offers a variety of financial derivatives for trading, including forex, precious metals, commodities, energy, stocks, and indices.
- Forex: Refers to the exchange of currencies between countries. The forex market is the largest financial market globally, primarily used for currency exchange and speculation.
- Precious Metals: Such as gold and silver, are investment hedges against inflation and economic uncertainties.
- Commodities: Include raw materials and agricultural products such as oil, natural gas, copper, soybeans, wheat, etc. Commodity prices are influenced by supply and demand and global economic conditions.
- Energy: Mainly includes oil, natural gas, and coal. The energy market is highly sensitive to global economic and political events, with significant price fluctuations.
- Stocks: Represent ownership in a company. Investors can gain a portion of the company's profits (dividends) and the growth in the firm's value (capital appreciation).
- Indices: Reflect the overall performance of the market, such as the S&P 500 Index, Dow Jones Industrial Average, and NASDAQ Composite Index. Index changes can indicate the overall market trend.
Account Opening Process
The steps to open an account with APOLLO Markets Ltd are as follows:
- Visit the official website and click on the "OPEN AN ACCOUNT" button on the homepage to go to the registration page.
- Enter your personal email address and set a login password, then submit the account application form to complete the account registration.
- After successful registration, users need to complete KYC verification to deposit funds and perform trading operations.
Trading Accounts
APOLLO Markets Ltd offers four types of trading accounts: Micro Account, Standard Account, APOLLO Markets Ltd Ultra Low, and Shares Account.
Micro Account:
- Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR
- Contract Size: 1 lot = 1,000
- Leverage: Up to 1:1000**
- Negative Balance Protection: Provided
- Spreads on Major Currency Pairs: As low as 1 pip
- Commission: None
- Maximum Open/Pending Orders: 300
- Minimum Trade Volume: 0.01 lots (ST5)
- Maximum Lots per Ticket: 100 lots
- Hedging Allowed: Yes
- Overnight Interest (Swap): Available
- Islamic Account: Optional
- Minimum Deposit: $5
Standard Account:
- Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR
- Contract Size: 1 lot = 100,000
- Leverage: Up to 1:1000**
- Negative Balance Protection: Provided
- Spreads on Major Currency Pairs: As low as 1 pip
- Commission: None
- Maximum Open/Pending Orders: 300
- Minimum Trade Volume: 0.01 lots
- Maximum Lots per Ticket: 50 lots
- Hedging Allowed: Yes
- Overnight Interest (Swap): Available
- Islamic Account: Optional
- Minimum Deposit: $5
APOLLO Markets Ltd Ultra Low:
- Base Currency Options: EUR, USD, GBP, AUD, ZAR, SGD
- Contract Size: Standard Ultra Low Spreads: 1 lot = 100,000; Micro Ultra Low Spreads: 1 lot = 1,000
- Leverage: Up to 1:1000**
- Negative Balance Protection: Provided
- Spreads on Major Currency Pairs: As low as 0.6 pips
- Commission: None
- Maximum Open/Pending Orders: 300
- Minimum Trade Volume: Standard Ultra Low Spreads: 0.01 lots; Micro Ultra Low Spreads: 0.1 lots
- Maximum Lots per Ticket: Standard Ultra Low Spreads: 50 lots; Micro Ultra Low Spreads: 100 lots
- Hedging Allowed: Yes
- Overnight Interest (Swap): Available
- Islamic Account: Optional
- Minimum Deposit: $5
Shares Account:
- Base Currency Option: USD
- Contract Size: 1 share
- Leverage: No leverage
- Negative Balance Protection: Provided
- Spreads: As per exchange regulations
- Commission: Yes
- Maximum Open/Pending Orders: 50
- Minimum Trade Volume: 1 share
- Maximum Lots per Ticket: As per share
- Hedging Allowed: No
- Overnight Interest (Swap): Available
- Islamic Account: Provided
- Minimum Deposit: $10,000
Trading Platform
APOLLO Markets Ltd claims to provide users with a trading platform called ST5, which supports both desktop and mobile operations. This platform is said to include over 50 technical indicators and intraday analysis tools, catering to advanced traders. However, the design and functionality of the ST5 platform are extremely basic and are mainly used by fraudulent brokers. Clicking on the mobile download link provided on the broker's website reveals that it does not open at all.
Deposits and Withdrawals
APOLLO Markets Ltd does not clearly specify the supported deposit and withdrawal methods, related fees, or the minimum deposit and withdrawal amounts on its website.
Conclusion
Traderknows reminds investors that APOLLO Markets Ltd is a scam website that fraudulently uses the information of the well-known broker XM to mislead and deceive investors. The contact information provided by the website is very limited, with only an email available for communication. Investors are advised to choose brokers with transparent information, strict regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
