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AMarkets Trading - Financial markets online

latest release: Varies with device ( 19th October 2021 ) last analysed  13th October 2021 Can't send or receive bitcoins 
4.5 ★★★★★
646 ratings
100 thousand
31st May 2019

Jump to verdict 

Do your own research!

Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis 

App Description

The app describes itself as an

ideal solution for both novice and professional traders and investors.

It is a brokerage service, with some of the international awards it lists in the description describing it as such.

RACE AWARDS 2015 - Best CFD broker in the affiliate programs market 2015

Due to this app being referred to as a CFD broker, users may not be able to send or receive their cryptocurrencies due to not actually owning the digital assets traded here.

The Site

From the Help Center: What are CFD’s?

When you buy a contract, you are betting on the future growth of an asset, expecting to sell your contract at a higher price and make a profit from this price difference.

It’s doubtable that you can actually buy and sell cryptocurrencies on this brokerage platform.

The App

Upon testing the app, we are allowed to try either a Demo or Real account. There’s an option for users to trade bitcoin, however you are not provided with a wallet.

Verdict

This app is a brokerage service and not for managing actual bitcoin. You can’t really send or receive due to the use of CFDs.

(dg)

Verdict Explained

The product can't send or receive BTC.

As part of our Methodology, we ask:

Can it send and receive bitcoins? If not, we tag it No send/receive 

If it is for holding BTC but you can’t actually send or receive them with this product then it doesn’t function like a wallet for BTC but you might still be using it to hold your bitcoins with the intention to convert back to fiat when you “cash out”.

All products in this category are custodial and thus funds are at the mercy of the provider.

The product cannot be independently verified. If the provider puts your funds at risk on purpose or by accident, you will probably not know about the issue before people start losing money. If the provider is more criminally inclined he might have collected all the backups of all the wallets, ready to be emptied at the press of a button. The product might have a formidable track record but out of distress or change in management turns out to be evil from some point on, with nobody outside ever knowing before it is too late.