The brokerage encourages potential clients to join their “global community where millions of traders thrive.” It is allegedly based in Singapore and has an office in Dubai, UAE. However, there is no documentary evidence of this. It is worth noting that copies of licenses are also missing from this firm’s website.
Should you trust your money to this intermediary? You will find out in our review Amitell Capital PTE LTD, where we will tell you about all the advantages and disadvantages of the broker.
How to Trade
Access to financial assets depends on the amount of the client’s deposit. The company offers 5 tariffs, which gradually open up new markets. The trading conditions are as follows:
- Leverage is the same for all tariffs 1:100.
- Spreads are reduced from 0.8 to 0.1 points.
- Ultra-fast execution (3 ms).
- Commissions from 0%, limits are not specified.
Money transactions are possible via fiat (Visa/Mastercard) and cryptocurrency. Withdrawal requests are processed within 3-7 business days.
Additional services are presented as Trading Academy, News, Dictionary, and Economic Calendar. Feedback form is available in the Contacts section.
Amitell Capital PTE LTD Vital Info
The site owners carefully hide information about the project’s history and the competence of their “team of professionals”. Typically, this is how companies that have been in business for a very short time behave. This is confirmed by the domain registration date – July 16, 2024. And note that the company clearly exaggerates the number of its customers. Is it possible to attract more than 1 million users in less than one month?
The broker claims to be registered in Singapore. We can easily verify this. AMITELL CAPITAL PTE. LTD. does exist in the register of legal entities of this country. However, it is a completely different organization that deals with fund management and has nothing to do with brokerage activities. We did not find the hero of our review in the databases of legal entities of the UAE and the Dubai Financial Services Authority. So, the office addresses indicated on the website are just fake?
I couldn't register a brokerage account on this site, but I'm glad I didn't end up trading here. There are two questions in the registration form that prevent me from creating an account - phone number and registration code. The system writes that the phone number is incorrect, although I entered everything correctly. It is impossible to create a personal account without the code, you need to get it somewhere (I do not know where). In general, it's even good that you can't register with Amitell Capital, because beginners like me and inexperienced traders simply won't open accounts in such scam firms. And this firm is a scam. I consulted with an experienced trader I know about how to open an account, and he looked at this site for a minute and told me everything: the period of work is less than a month, as the domain is fresh, there are almost no reviews on the Internet, there is no regulation, so the activity is illegal, the offices are fake...
I decided to try trading on this terminal and saw that it works against the client. It became obvious just a few minutes after I started working with the broker. Horrible!! The good thing is that the entry threshold is low and I did not lose as much money as I could have, but only €100. So I want to warn all traders against working with this scam, it will not bring you anything good!!!!
I recently registered an account and so far I can't mention anything bad. I just tested the terminal and how orders are executed, not only market orders but also limit orders, I checked spreads, commissions, how the platform is organized and how it functions. I did not find any serious problems, this is the main result. Amitell Capital PTE LTD allows trading by any method: scalping, investing, hedging, intraday. Lots are available at 0.01, so I can work on strict risk management. Leverage is adequate 1:100, not 1:1000 like some unregulated forex dealers. I have long wanted to get an account in such a safe place and trade without the pitfalls that are on spot or futures, namely problems with liquidity, slippage, requotes, high commissions. All these drawbacks are absent on amitellcapitalltd.com. There are no liquidity problems here. Orders do not slip. There are hardly any requotes, and the costs are adequate. In general, this firm looks decent (offices in Singapore, UAE are guarantees of reliability) trading conditions are acceptable. I think that most likely I will invest large sums here. I just need to check how the money is withdrawn from here. I haven't withdrawn money yet, because I haven't made a profit yet, but I will make a final decision - whether to stay here or go to another platform - after testing the withdrawal procedure. Of course, I will not immediately trade here for such amounts as, for example, 50,000-100,000 dollars, but I will start with a deposit of 1500-2000 dollars. And then, after a long period of trading, if the company shows itself to be only on the good side, I would already deposit a larger amount.
I believe that this is the most common fraudulent forex scheme b-book, nothing more. Why do I think so? First of all, the official site looks kind of cheap, it takes a long time to load, which is strange for a broker, and it supports only two languages besides English from countries that are not even close to the company's offices. In fact, judging by the addresses, this firm is supposedly from the UAE and Singapore, where people speak completely different languages. The FAQ section, for example, is not translated from English at all. So the scammers could not even invest $100 in the development of their official resource. Secondly, there was a mention of the Monetary Authority (MAS) on the site, it is a state regulator of Singapore, which monitors the activities of brokers. I went to this registry and found amitell capital pte ltd there, but it deals with Fund Management, this is not the same as brokerage. I finally realized that the company that everyone can easily find in the MAS registry is a completely different organization. It is not the same as the amitellcapitalltd.com platform. They are two different companies and the second one, that is this fraudulent broker, is just a trivial copy of the first true company. I realized what kind of fraudulent scheme these scammers are using. They took a firm from Singapore that is on the MAS register, created a fake website with the same name and started accepting money by offering fake brokerage services in the financial markets. They tell all victims that they are supposedly under the control of the Singapore regulator, but this is a blatant lie. Experienced users will realize this, the scammers will not be able to steal money from them, and beginners will believe in these fairy tales, and therefore give money to the scammers, assuming that this is a real broker that can be trusted. Thirdly, I have not found anything like this in the UAE. The license that should be from DFSA is not available here. So I concluded that amitell capital pte ltd is an ordinary scam dump.
I realized it was a scam when I only lost almost 10 times more money than I had originally planned to earn. The trading was going well and I wanted to increase my trading volume to earn more, this motivated me to increase my deposit. And what did I get out of it? Nothing. The fraudsters didn't let me withdraw a dime :( Scammers have a tight grip on other people's money and they quickly blocked my account with over $4,700 as soon as I wanted to withdraw it.