Welcome to our Athens Markets Review in which we look into the Athens broker currently found at athensmarkets.co.
We have found some complaints about them which triggered us to write this review so if you’re wondering if you can trust Athens Markets and should be trading in AthensMarkets, please read this review before investing!
Athens Market Forex Review
The domain athensmarkets.co was registered on July 3, 2021 for two years through NameCheap, Inc., but was updated on December 8, 2022. It is protected by Cloudflare.
According to SimilarWeb, they are ranked 391,695 globally and 216,431 in the US, which puts them as the number 1,799 most popular Finance > Investing category in the United States. In January 2023, they received almost 70K visits, mainly from the US, but also from Ireland, Bulgaria, Denmark, Dominican Republic as well as other countries.
They have a Semrush Authority score of 11% with 2,600 visits from Organic Search, 2 visits through Paid Search, and 1.6K backlinks, but none of them add any credibility to Athens Markets. We’ll go over some of them later on.
The Athens Markets website was designed with the Astra theme on a Spanish version of WordPress. There is a page titled “prueba,” which is Spanish for proof, but it is empty.
Also, their 404 (“Page does not exist”) page is in Spanish, indicating that the people behind Athens Markets are Spanish.
There is also a subdomain, copier.athensmarkets.co, which contains a sign in page, which presumably leads to the trading platform.
And there is another subdomain, login.athensmarkets.co, which also contains a login page, as well as a registration page.
There’s also a Helpful Videos page in which several video tutorials are provided:
- How to deposit
- How to withdraw
- How to complete kyc
- Refer a friend
- How to copy trades
The videos are hosted in the Athens Markets YouTube channel which has 141 subscribers and 6 videos, and was created on March 16, 2022.
Athens Markets Review
Athena Forex is a brokerage firm that offers a diverse range of trading options for its clients including forex pairs, stocks, indices, and cryptocurrencies with competitive spreads starting at 0.1 pips.
They are a raw spread broker, offering two account types: Athens Pro and Athens Standard.
Athens Pro features raw spreads starting at 0.01 pips, flat-rate commissions, hedging and EA enabled, and all pairs.
Athens Standard offers low spreads starting at 1.5 pips, zero commissions, hedging and EA enabled, and all pairs.
Athens provides fast deposits and withdrawals and 2-factor authentication for added security.
The broker also has an affiliate program that rewards clients who refer new traders.
The Athens broker minimum deposit is not specified, however according to the complaint we present later from the BBB it is $300-500.
Besides the sloppily made Athens market trading website, based on the information we find on athensmarkets.co, it is difficult to determine whether Athens is a legitimate or a fraudulent broker.
They do not provide any information about their regulatory status, licensing, or any independent reviews or customer feedback that could help assess their reliability or trustworthiness.
It is not uncommon for fraudulent brokers to create websites that look professional and legitimate, so it is always recommended to conduct further research before investing money with any broker.
The only sign of regulation is a text that says “Athens Markets LTD © Reg.2082245 BC 2021.”
Unfortunately, this means nothing and as far as we can tell they are not regulated.
In fact, in their FAQ they write:
We have investigated various different regulatory jurisdictions to ensure protection for all our clients, however, the process of finding a suitable regulator can be time-consuming. Once we are regulated, we will share this information with our clients and update our status.
So is Athens Markets a SCAM?
The Athens FX website does not provide an About us Page and no information regarding who is behind the company, such as a registered address, LinkedIn profiles etc.
They do provide an address and claim to be registered within Trident Trust Co. (B.V.I.) Ltd. Trident Chambers P.O. Box 146 Road Town, Tortola British Virgin Island.
There is indeed a company called Trident Trust Company (BVI) Ltd Trident Chambers, Wickhams Cay PO Box 146, Road Town Tortola, British Virgin Islands, but they seem to have no connection to the Athens trading broker.
Another company mentioned is Carbon Capital Limited, referred to as “AMLTD.”
Carbon Capital is an Investment Management based in Santa Monica, California, and they also seem to have no connection to Athens market broker.
Also, while the website is popular, the Authority Score is rather low and no legitimate sites are linking to it.
Contact information includes email: support@athensmarkets.co & admin@athenmarkets.co.
However, no telephone number is provided or any other contact methods.
AthensMarkets Reviews
WikiFX gives them 1.25 out of 10 and contains two user reviews, one of which is helpful.
The writer invested $6,000 in a broker and traded with their pro account for 5 months. They were able to withdraw their money every time they wanted to, so withdrawals are not an issue with this broker.
However, the spreads on the pro account are good for scalping but the commissions are high and eat up profits, and the spreads on the regular account are poor. The writer does not recommend this broker for these reasons.
We also found a complaint filed with the Better Business Bureau (BBB), according to which the complainer was contacted by someone who offered to do trading for them for a 10% fee of each withdrawal on multiple occasions.
The person didn’t understand the trading process, so the trader assured them that they would not be getting their money and the payment had to be made through Bitcoin via CashApp. The trader also provided a link for the person to register with Athens Markets Brokers to open an account to purchase Bitcoin.
There’s also a TrustPilot page for the Athens market forex brokerage, on which it is rated 4.4/5 based on 100 reviews. 12% of the reviewers however gave them one star and complained about issues such as trouble with deposits and withdrawals, lack of account access, and poor customer service. Some customers expressed concern about the lack of regulation and transparency of the broker.
Bottom Line – AthensMarkets Scam or Legit?
To summarize our Athens forex broker review, Athens Markets is a trading broker that offers a variety of trading options with competitive spreads starting at 0.1 pips, but their legitimacy and trustworthiness are questionable.
Their website does not provide any information about their regulatory status or licensing, and they have a low Authority Score with no legitimate sites linking to them.
While there are some positive reviews, there are also complaints from users about high commissions and poor spreads.
Thanks for reading our Athens Markets Broker review.
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