150,000 active customers and millions of dollars in revenue. Ande Finance is an interesting trading platform that is making some noise. It promises high returns, but is it too good to be true? In this review, we will take a look at this broker to provide our honest opinion and find out whether it is a scam or a great opportunity.
- Ande Finance General Information
- Registration and Client Portal Review
- Ande Finance Trading Conditions
- Account Types Review
- Trading Platform
- Ande Finance — Deposit and Withdrawal of Funds
- Additional Options
- Is Ande Finance a Scam?
- Legal Information and License
- Andefinance.pro Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Ande Finance General Information
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Registration and Client Portal Review
Ande Finance’s website is a pretty basic affair. The only interesting thing about it is the cursor, which is a stylized image. Aside from that, the site has a typical dark background, a standard menu, and tired stock images. There’s nothing interesting or original about it.
The navigation is also a bit clunky. The menu items are hard to find, and the site’s structure is confusing. It’s not clear where to go to find the information you need. The site also lacks important data. There’s not much to be found about the company’s background, its team, or its investment strategies. This lack of transparency is concerning.
Registration is a fairly simple and standard affair. Ande Finance does not ask for your date of birth or address of residence. You can fill out a small form with your contact information and immediately access the client portal. We would also like to draw your attention to the fact that you will receive an email with a link. It goes to the spam folder (which is not surprising). After clicking on the link, as we have already said, you will get access to the Dashboard.
The Ande Finance client portal is also disappointing. The only section that is immediately available to traders is the finances. This means that they are deliberately directed to the deposit page. The trading platform will have to be searched for in this space. The functionality is very limited. And the design is so minimalistic that we are simply shocked by the broker’s negligence. Overall, the client portal is a major disappointment.
Ande Finance Trading Conditions
Could the situation with the official website somehow improve trading conditions? Let’s take a look at what this broker can offer us.
Account Types Review
The broker immediately offers you to start trading with a real account. Even in the client portal, there is no demo version. Ande Finance has developed five accounts for different types of traders. The first one is Mini, with a deposit of $250. The leverage here is only up to 1:10. At the same time, the contract size is 10 lots. We are sincerely wondering who wrote this nonsense. One standard lot is equal to $100,000. It is interesting how a client with a deposit of $250 and a leverage of x10 will be able to open such an order?
From account to account, the situation does not improve. For example, in Pro status, they generally offer to open contracts of 1,000 lots. At the same time, the deposit for this account is only $10,000. In short, judging by these trading conditions, we can draw an obvious conclusion. The creators of Ande Finance do not understand trading at all. Other characteristics include an unknown spread size. They are simply designated here as “tight.” As well as leverage, which can reach 1:100 and increases with account status.
The trading conditions offered by Ande Finance are notably inadequate, lacking transparency and comprehensive disclosure. The absence of detailed information on crucial aspects such as transaction costs, spreads, and swaps raises significant concerns. Traders require clear and complete details to make informed decisions, and the lack of transparency in this regard reflects poorly on the broker’s credibility.
The trading platform is yet another mystery that is not so easy to solve. The problem is that the broker tells you that you can trade on the MetaTrader 5 platform. However, Ande Finance is not listed among the official partners of this software. The situation gets even worse. In the client portal, we decided to check the web version of the terminal. And it turns out that it actually belongs to a company called Assetaxis.
This raises red flags as reputable brokers typically opt for well-established and widely recognized platforms. The use of an unknown terminal introduces uncertainty about its reliability, functionality, and adherence to industry standards.
Ande Finance — Deposit and Withdrawal of Funds
The broker offers very interesting ways to fund accounts. Namely, only cryptocurrencies. Withdrawals on the Ande Finance platform are also made using the same methods.
Accepting only crypto payments can be a red flag for a number of reasons. First, it can be a sign that the broker is not regulated or licensed. Second, it can make it difficult for traders to get their money out of the account if the broker goes out of business or becomes insolvent. Third, it can expose traders to the volatility of the cryptocurrency market.
Despite the apparent confusion within the client portal of Ande Finance, the broker audaciously demands client verification. You’ll need
- Submit identification documents such as a government-issued ID, passport, or driver’s license to verify your identity.
- Confirm your residence address by submitting documents like utility bills or bank statements showing your name and address.
- The Ande Finance verification team reviews the submitted documents and then you’ll have access to all the features.
The only additional service that Ande Finance offers is analytics. However, it is important to note that market analysis is not available for all accounts, but only for high-tiers. We would also like to draw your attention to the fact that all analysts on this platform remain anonymous. We do not know anything about how well they know the subject or if they have any credentials or professional merits, such as specialized education. So, our advice to you is not to trust the advice of strangers. Especially if you have never seen any of their market forecasts in the open.
Is Ande Finance a Scam?
The broker has not made a very good first impression. We have a feeling that things will only get worse from here. Well, let’s investigate further.
Legal Information and License
Ande Finance seems to us to be a very unsafe broker. Simply because everything here is done very poorly. Therefore, we do not doubt that legitimacy is not all right either. So, the company does not indicate anywhere where it is specifically registered. Seriously, not a hint of mentioning any license or registration address. For some reason, a certain Zen Markets appears in the Client Agreement. And again, it is not at all indicated in which jurisdiction it works in. We can draw a simple conclusion from this. Ande Finance is not registered anywhere and has not received any license for its services.
Andefinance.pro Domain Info
Yet another obvious reason why Ande Finance cannot be considered good is its operating period. Just think for yourself. What kind of industry leadership if the company has been working for literally a few months? We checked the domain of this intermediary and found out that it was only registered in November 2023.
A short operating period is a red flag. It suggests that the broker is not a well-established company. This makes it difficult to assess the risks associated with trading with it.
The contact details of Ande Finance are also very poor. Traders are only offered to use email to contact support. There are no other contacts, no phone numbers, nor, as we have already noted, addresses. Although, by the way, for scam projects, the presence of an email is already a miracle.
Pros and Cons
- Low minimum deposit.
- Wide range of assets.
- Ande Finance is not regulated by any government agency.
- Short operating history.
- Poor contact details.
- Anonymous analysts.
- Cryptocurrency-only payments.
Frequently Asked Questions (FAQ)
Ande Finance claims to provide a comprehensive range of trading services, including various account types and trading instruments.
According to the trading conditions outlined, the minimum deposit starts at $250.
The safety of trading with Ande Finance depends on several factors, including its regulatory status, and security measures. So, no. We couldn’t call this broker the safest one.