Warning Signs Emerge: ATG Markets' Questionable Regulatory Status and Negative Client Reviews

BrokersView regularly reviews forex brokers to identify risks and potential fraud, committed to maintaining a secure financial trading environment and protecting traders from financial losses. In a recent investigation, ATG Markets, a Dubai-based broker claiming to offer a wide range of gold, silver, platinum, and palladium bars and coins from leading refineries and mints, has raised significant skepticism due to its dubious licensing status and various issues clients reported.

Investigation into ATG Markets’ regulatory status

ATG Markets claims to be owned by ATG World Trading DMCC, allegedly a member of DGCX under ID690 with Trading Exchange License DMCC-55772. 

However, our search in the DMCC Public Register shows inconsistencies: ATG World Trading DMCC corresponds to license DMCC-33839, while license number DMCC-55772 matches no company. This raises suspicions that ATG Markets is misusing licensed company details and falsifying a license number. 

Additionally, the DGCX member directory does not list ATG World Trading DMCC, further debunking the company's claims. 

It’s important to note that DMCC and DGCX are not financial regulators. The Dubai Financial Services Authority (DFSA) oversees financial services in Dubai, and our investigation found no information about ATG Markets in the DFSA database. This suggests ATG Markets may be operating illegally as a broker. 

The only verifiable licensing information for ATG Markets is its authorization from the Financial Services Authority (FSA) of Seychelles as a securities dealer and to provide forex trading brokerage services via the domain https://www.atgforex.com/. However, this indicates its offshore-regulated status and subjects it to a relatively lax regulatory framework, posing higher risks to investors.

Client complaint and negative feedback

ATG Markets was hit with a client complaint due to a refusal to withdraw funds.

A client reported that despite a friend's recommendation promising great customer service and deposit bonuses at ATG Markets, he was disappointed to find their bonus never materialized.

A client labeled ATG a fraudulent broker and highlighted unjustified account balance withholding as a major concern. 

A client reported that ATG World's website transformed into a dubious lottery site, appearing informal and scam-like, raising concerns. We also discovered that ATG Markets' UAE website domain, http://atgworld.ae/, redirects to an invalid page unrelated to financial services.

Some clients also questioned the regulatory oversight ATG Markets is subject to, expressing concerns about illegal operations and possible withdrawal failures.

Conclusion

ATG Markets' credibility and legitimacy as a broker are highly questionable, raising significant red flags. This poses a potential threat to traders and makes investors vulnerable to additional risks beyond the inherent risks of forex trading.