Broker Review

ABM Trades presents itself as an international trading company and provide option to trade Forex, Indices, Stock, Cryptocurrencies, Commodities etc. In their website they are claiming over $7 billion annual turnover, which is a vague claim itself.

According to its website, it claims regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and European Securities and Markets Authority (ESMA). Upon investigation, no matching information was found in the CySEC and ESMA.

On the contrary the Financial Conduct Authority (FCA) issued a warning against ABM Trades, believing this company might be providing financial services or products without proper authorization in the UK. On September 19, 2024, the Financial Conduct Authority (FCA) issued a warning against ABM Trades stating that “This firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams.”

In essence, ABM Trades is not regulated by any governing body. Entrusting it with investors’ funds is highly risky, as there are no legal protections in place to safeguard the funds.

Another important aspect is that in their website (abmtrades.com) they are claiming to be a UK based company yet their domain is registered with false USA details. Recently we got several reports of their scam and throughout our investigation we also found online user reviews from verified and authentic sources shows several warning signs, suggesting potential scams.

Warning signs of such fake brokers include:

• • • Unexpected contact: Cold calls or random messages about investments.
    • No licence number: Either unregistered or using a fake one.
    • Guarantees of huge profit: Promises of daily or monthly returns.
    • Blocked withdrawals: Extra “fees” or “taxes” demanded before any payout—yet funds never arrive.
    • Polished interface: A slick site that hides the absence of regulation.

They also post fake reviews and celebrity endorsements to look credible.

Steps to Take If You Were Scammed

If you believe ABM Trades deceived you, follow these steps right away:

• • Stop talking to the scammer: Cut communication to avoid further tricks.
  • Inform your bank: Tell them you were defrauded; ask about chargebacks or recalls.
  • Save all proof: Keep screenshots, emails, chat logs, and transaction slips.