Altragate is a brokerage website suspected of fraud, with its domain altragate.com registered on August 13, 2024. The site claims to provide CFD trading services in forex, stocks, indices, and cryptocurrencies for investors.
Company Background and Regulatory Status
According to information on altragate.com, Altragate is authorized and regulated in multiple jurisdictions.
AltraGate Online Ltd is registered in Cyprus with registration number HE 310361 and is regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 185/12. The company is also regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, under FSP number 46614.
AltraGateFinite UK Limited is registered in the UK with registration number 10599136 and is regulated by the Financial Conduct Authority (FCA), under license number 777911.
AltraGate Limited is registered in Mauritius with registration number C119470 C1/GBL and is regulated by the Financial Services Commission (FSC) in Mauritius, with the investment dealer license number C113012295.
Upon investigation, it has been revealed that Altragate is actually a fraudulent website with no corporate entity, and it uses regulatory information stolen from other brokers. The regulatory information mentioned on its website is, in fact, borrowed from the well-known broker "FXTM".
Trading Products
Altragate claims to offer trading services in various financial derivatives, including forex, stocks, indices, and cryptocurrencies.
- Forex: The forex market is the largest financial market globally, mainly dealing in currency pairs such as USD/EUR, GBP/JPY, etc. The forex market is highly volatile and influenced by national economic data, monetary policies, and geopolitical factors, making it suitable for investors looking to profit from short-term fluctuations.
- Stocks: Stocks represent ownership in a company. Holding stocks means owning a part of the company. Investors purchase stocks to share in the growth profits of the company. The stock market is highly volatile, affected by company performance, economic conditions, and industry prospects. Common stock markets include NYSE and NASDAQ.
- Indices: Indices measure the performance of a group of stocks and reflect the overall performance of a specific market or industry. For example, the S&P 500 tracks the performance of 500 large companies in the U.S., and the Nikkei 225 represents the Japanese market. Investing in indices can be done through index funds or futures, offering a way to diversify risk and gain from overall market movements.
- Cryptocurrencies: Cryptocurrencies are digital assets based on blockchain technology, like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), etc. They are decentralized and not controlled by central banks or governments. The cryptocurrency market is extremely volatile and driven by technological developments, regulatory policies, and market demand, making it a high-risk, high-reward investment.
Account Opening Procedure
The steps to open an account with Altragate are as follows:
- Visit the website and click the “Open Account” button to go to the account application page.
- Fill out your name, email, and create a password in the application form. Once the form is submitted, your account will be created.
- After logging into the account, users are required to complete the KYC verification process before they can start trading.
Account Information
Altragate claims to offer twelve different investment plans:
Basic 14:
- Daily ROI: 40.00%
- Investment Term: 14 days
- Investment Amount: $1,000 - $4,999
- Maximum Return: $27,994.4
- Total ROI: 560%
Standard 14:
- Daily ROI: 50.00%
- Investment Term: 14 days
- Investment Amount: $5,000 - $9,999
- Maximum Return: $69,993
- Total ROI: 700%
Professional 14:
- Daily ROI: 60.00%
- Investment Term: 14 days
- Investment Amount: $10,000 - $19,999
- Maximum Return: $167,991.6
- Total ROI: 840%
Silver 14:
- Daily ROI: 70.00%
- Investment Term: 14 days
- Investment Amount: $20,000 - $49,999
- Maximum Return: $489,996.2
- Total ROI: 980%
Gold 14:
- Daily ROI: 80.00%
- Investment Term: 14 days
- Investment Amount: $50,000 - $99,999
- Maximum Return: $1,119,988.8
- Total ROI: 1120%
VIP 14:
- Daily ROI: 90.00%
- Investment Term: 14 days
- Investment Amount: $100,000 - $1,000,000
- Maximum Return: $1,260,000
- Total ROI: 1260%
Basic 30
- Daily ROI: 50.00%
- Investment Term: 30 days
- Investment Amount: $500 - $4,999
- Maximum Return: $74,985
- Total ROI: 1500%
Standard 30:
- Daily ROI: 60.00%
- Investment Term: 30 days
- Investment Amount: $5,000 - $9,999
- Maximum Return: $179,982
- Total ROI: 1800%
Professional 30:
- Daily ROI: 70.00%
- Investment Term: 30 days
- Investment Amount: $10,000 - $19,999
- Maximum Return: $419,997
- Total ROI: 2100%
Silver 30:
- Daily ROI: 80.00%
- Investment Term: 30 days
- Investment Amount: $20,000 - $49,999
- Maximum Return: $1,199,976
- Total ROI: 2400%
Gold 30:
- Daily ROI: 90.00%
- Investment Term: 30 days
- Investment Amount: $50,000 - $99,999
- Maximum Return: $2,699,973
- Total ROI: 2700%
VIP 30 (VIP 30-Day Plan)
- Daily ROI: 100.00%
- Investment Term: 30 days
- Investment Amount: $100,000 - $1,000,000
- Maximum Return: $3,000,000
- Total ROI: 3000%
Trading Platform and Deposits/Withdrawals
According to its website, Altragate offers a proprietary trading platform that is web-based. The broker supports deposits and withdrawals through credit cards, e-wallets, and cryptocurrencies.
Conclusion
Traderknows reminds investors that Altragate is a fraudulent site without a legitimate corporate entity or regulation and uses stolen information from other brokers. Investors should carefully consider and prioritize regulated and transparent companies to ensure the safety of their funds and reduce investment risks.
