Arena Trading is a broker that provides forex, commodities, and indices trading services to investors. The Arena Trading official website is https://www.arenatrading.co/, and the website only supports English as the language. According to the Whois query for the domain registration, the company's official website domain was registered on August 31, 2020, and it has been registered for over 3 years.
Company Background:
Information on the Arena Trading official website indicates that the company is registered and established in Australia. Results from the Australian Securities and Investments Commission (ASIC) website confirm the authenticity of the company's registration information. Additionally, the Australian Business Register (ABN Lookup) website shows that the company holds an Australian Business Number (ABN) registered with ABN Lookup. Furthermore, the domain registration information obtained from a Whois query indicates that the company's official website domain was registered on August 31, 2020, and it has been registered for over 3 years.
Account Registration:
The Arena Trading official website does not provide links for the registration of real or demo accounts.
Account Types:
According to information on the Arena Trading official website, the company offers three different types of trading accounts: Lite Account, Standard Account, and Premium Account. However, the website only presents the differences between these accounts in terms of minimum deposit, tradable products, spreads, and commissions. The margin ratios for these accounts are not provided.
Trading Products:
Arena Trading provides trading services for forex, commodities, and indices, as stated on their official website. However, the website does not specify the exact trading products covered under forex, commodities, and indices. Key information such as spreads, commissions, overnight interest rates, margin ratios, and trading hours for these specific products is also not provided.
Margin Ratios:
The Arena Trading official website does not provide information on margin ratios for different account types or for specific trading products in forex, precious metals, energy, and indices.
Trading Hours:
The Arena Trading official website does not provide information on the trading hours for specific trading products in forex, precious metals, energy, and indices.
Deposits and Withdrawals:
TheArena Trading official website does not provide information on supported deposit and withdrawal methods, channels, currencies, fees, or processing times.
Trading Software:
Arena Trading offers MetaTrader 4 (MT4) trading software for investors, which supports desktop versions (Windows/MacOS), a web version, and mobile versions (IOS/Android). However, there are reported issues with the download and installation speed of the Android version of the MT4 software in certain countries or regions.
Other Services:
The Arena Trading official website mentions providing services such as articles and videos to enhance investors' skills and knowledge through an "Education Center." However, specific links to access these services are not provided on the Arena Trading website.
Risk Warning:
According to information on the Arena Trading official website, the company does not provide services to residents of the United States, Germany, China, and Hong Kong, or to residents of countries or regions where local laws and regulations may be violated.
Regulatory Information:
The Arena Trading official website does not provide any regulatory or authorization information. However, based on information obtained from the ASIC website regarding the company's registered location regulatory authority, Arena Trading holds an Authorized Representative (AR) license under MGF CAPITAL PTY LTD (421246). It is crucial to note that the regulatory and investor protection measures for AR licenses are relatively weak. More importantly, MGF CAPITAL PTY LTD has sold AR licenses to over 20 similar companies, including ARENA TRADE PTY LTD. These companies are not related to MGF CAPITAL PTY LTD; they are using the purchased AR licenses for promotional purposes, raising suspicions of fraud.
Conclusion:
There are suspicions of fraud associated with Arena Trading. Although the registration information appears to be legitimate, with the company holding an Australian Business Number (ABN) registered with ABN Lookup, the AR license held by Arena Trading under MGF CAPITAL PTY LTD indicates relatively weak regulatory and investor protection measures. Moreover, the fact that MGF CAPITAL PTY LTD sold AR licenses to various unrelated companies, including ARENA TRADE PTY LTD, raises suspicions of fraudulent activities. Based on these findings, investors are advised to exercise caution when considering the services provided by Arena Trading. TraderKnows reminds you to be vigilant about the security of your assets and to avoid falling into fraudulent traps.
