Central Bank of Ireland Issues a Warning against Appletrade Ltd

The Central Bank of Ireland has just issued a warning against Appletrade Ltd. (Ireland). The regulator has issued a warning for the citizens of Ireland not to become part of the platform. As per the regulatory authority, the firm is not authorized to provide its services in Ireland.

Warning by the Central Bank of Ireland

According to the Central Bank of Ireland, any firm aiming to offer financial and investment services in Ireland must have an appropriate authorization.

However, Appletrade has been offering its services in Ireland without any authorization or the right permission from the regulatory authorities. Appletrade Ltd has been operating in Ireland as an investment firm in Ireland.

It is also claiming to be providing the locals with investment business opportunities. When looking at the credibility of the firm, there is an absence of the appropriate authorization that the firm needs to provide services.

As a result of not having the right authorization, the company has no right to offer financial or investment services to the locals.

Criminal Offence in Ireland

The Central Bank of Ireland has also clarified that it is an absolute crime in Ireland for any entity to operate without an authentic approval. There are many firms just like Appletrade Ltd that have been offering their services in Ireland.

Such firms are as risky and dangerous for the citizens of Ireland as Appletrade Ltd. Their services are not authorized, which means that they are not regulated. This means that such firms are not bound by any laws or are not accountable at all.

For any entity to operate in Ireland without authorization is a criminal offence and it is liable for a legal action. In case the firm ends up scamming people of their investments and money, it’ll be a complete loss for them.

No Chance of Money Retrieval

The regulatory authority has warned that it is full of risks to interact with the particular firm. As the firm is not authorized, therefore, the people are urged not to investment money through the platform.

In case the people of Ireland end up losing money to Appletrade Ltd., there will be no way of bringing such funds back.

The regulatory authority has made it clear that the people from Ireland investing and losing money to the unauthorized firm will not be compensated in any way. There is no legislation that protects the interests of the investors in case they are found interacting with a firm that unauthorized.

The regulatory authority has also announced that even the Investors Compensation Scheme (ICS) will not be able to cover investors who lose their money to Appletrade Ltd.

Possibilities Involved with Appletrade Ltd.

It is a high possibility that apart from making a false claim of being authorized, Appletrade Ltd may also be making a false claim about its address. It is highly likely that the physical address, phone number, and the email addresses provided by Appletrade Ltd on the platform may also be fake or made up.

Information about Appletrade Ltd.

On the website: Appletrade.de, you will see that the website claims that it provides investment opportunities. The platform claims it provides trading and investment solutions for major instruments. The instruments it claims to be providing its services include cryptocurrencies, forex, stocks, and indices.

To attract new and innocent investors, Appletrade Ltd. provides them with a variety of trading accounts and trading options. It lets them believe that the firm is offering products and services for their benefit.

However, the platform only wants to gain access to the funds of the investors. The platform is known for not releasing the funds of the investors when they request for a withdrawal. The platform also incurs high charges and fees on the investors for any transaction or withdrawal they request.