Is Shark traders really bankrupt of its a scam?

traderjo said:
so this is a std Equity/ Option broker ?
Based in Bulgaria! so what client money protection you get? Unlike in USA it is SIPC
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Yeah, they offer Equities and Options but I never traded options with them only equities so far. I have a team of traders.

Yes, they are based in Sofia, Bulgaria and have a licence of a broker dealer. It's all under ESMA. Deposit insurance is up to 100K EUR from counterparty default (http://dif.bg/en/how-much/).

The reason why we work with them is they give conditions that not many US brokers can match. I'm only talking about accommodating professional traders. This includes margin, commissions, payout, ECNs, etc etc. Frankly speaking, I don't think they are good enough for retails or for those who trade less than 100k shares per month as they don't offer free platforms and margin is just like with US brokers for them.

So far, my team and I haven't had any reasons to doubt their credibility. All payments have been done on a timely manner and without any "hidden fees" that pop up last moment.
 
that insurance scheme seems to cover Bank deposits.
Does it cover money or shares holdings with a broker? Like in UK ?I could not see any ref to it!
For example when one of the OTC brokers went belly up in FX space what was left was in a Bank deposit and the govt insurance always covered those funds but not the money that was fraudulently taken away.
 
Hey Bramnil dude do you really trade with them or you work there in accounts. Everywhere you sell Alaric. Where i have had a personal experience with them and it was horrible.They promise leverage of 30:1 20:1 but what you will get is 4:1 and 2:1 overnight. Then they will start asking for more deposit to get leverage. Thats a scheme. Warned
 
DaytraderBS said:
Hey Bramnil dude do you really trade with them or you work there in accounts. Everywhere you sell Alaric. Where i have had a personal experience with them and it was horrible.They promise leverage of 30:1 20:1 but what you will get is 4:1 and 2:1 overnight. Then they will start asking for more deposit to get leverage. Thats a scheme. Warned
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i have a group with them, dude. if you want to join my group, email me dude. i'll review your application. I'll send you my email in PM, dude.
 
Isn't alaric trader itself a trading group of Alaric Securities. So you want me to open an account ,deposit funds to a group of group? Sure , i am up for this.
 
hmm..never heard of them until now! I don't know I'm a little insecure trusting any offshore brokrages/ prop firms after getting screwed by shark traders, especially if the company provides 30x 40x margin? damn it just sounds too good to be true but I will look into it more, look to see if they actually register broker dealer with the security commission and more research first
 
Shark traders was the biggest scam ever!! They gave us 20x leverage..nice looking website but then I fell for it with 25k of my hard earned money..when I went to withdraw it ..2 days later I get a email saying they’re insolvency and they had a audacity to ask for my bank details too.. when I did their website went down and never ever heard from them ever again or my 25k :( bastards!! Hope those scammers burn in hell
 
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