We think ARKcoin is not a trustworthy broker to do any type of trading online. You will find out what is arkcoin.cc in reality through our ARKcoin review here.
Arkcoin says to be a professional broker that provides superior trading experience in the financial market. It boasts of a reliable platform with lowest spreads and commissions in the market.
Arkcoin offers 3 account types for trading. Minimum deposit requirement is $250 while the advertised leverage is up to 1:600.
The broker is owned and operated by a company located offshore in St. Vincent and the Grenadines (SVG).
Should you trust Arkcoin?
We have found that Arkcoin is not a genuine trading and investment site since it has the following drawbacks:
- Arkcoin is unregulated as they should be regulated if they want to target customers on regulated markets like the European Union, including the UK.
- Unlicensed brokers like Arkcoin do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- Bear in mind that unregulated brokers in general are completely uncountable for the way they handle your money, which makes any dealings with such entities extremely risky. Basically that is how people usually get scammed.
- To confirm that Arkcoin is a scam, it has been reported by the the Dutch Authority for the Financial Markets (AMF) as a scam. The AMF said that Arkcoin is involved in a boiler room scam.
There are several reasons why you should not trade with Arkcoin. It is an unregulated broker with company address located at a notorious offshore zone in SVG. The company is involved in some dirty tricks including use of fake claims and bonus traps. Also the give access to a miniature web trading platform.
Arkcoin has been blacklisted by an authority, and should never be an option for someone that wants a decent broker.
Is Arkcoin Safe?
Arkcoin is considered not safe, as it is not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC, FSC in South Africa and the US CFTC.
The easiest way to check if a broker is licensed is by looking it up in the registry of the respective financial regulator – be it the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority (FSCA). All of them keep such registers and they are publicly available.
Arkcoin is an unauthorized and illegal broker. Deposits with this broker are not protected, the company can’t legally offer its services in almost any country. It is a total scam.
How Arkcoin Works
You will notice how the scam broker works immediately you make a deposit to their platform. Scammers will take deposits from you but never let you withdraw anything.
Arkcoin will use many tactics to make you deposit more. When you ask for a withdrawal, scam brokers will present silly legal document and conditions that is out of the question as far as legit brokers are concerned. But it will just be a lie to get more money from you.
They will request that you send them more money while declining all your efforts to withdraw your deposits.
At this point, most people will realize that they have fallen victim to a classical Forex trading scam.
Arkcoin is a scam broker that has drawn the attention of the Dutch authorities. irrespective of how their website looks and feels, depositing money to this platform will need to a financial loss. You should watch out for the redflags and avoid Arkcoin.