Overview of Ark Global Ltd
Ark Global Ltd, founded in 2022, operates as an unregulated entity in the financial market. It offers traders a range of account types, including Pro, Elite, and ECN accounts, each with varying features. The platform provides access to a diverse array of tradable assets, encompassing forex, indices, metals, cryptocurrencies, and energies.
Is Ark Global Ltd legit or a scam?
Ark Global Ltd operates without regulation from any official authority.
Pros and Cons
Market Instruments
Ark Global Ltd offers a diverse range of trading assets, allowing users to access some of the world's most popular markets across various asset classes. Here's a concrete description of the trading assets available through Ark Global Ltd:
- FOREX: Ark Global Ltd provides the opportunity to trade more than 40 major, minor, and exotic currency pairs. This includes pairs involving currencies like the US Dollar, Euro, Japanese Yen, and others, enabling users to engage in foreign exchange trading.
- INDICES: Users can also trade 15 of the most renowned global indices in the form of Contracts for Difference (CFDs). These indices represent the performance of stock markets in different regions and sectors, allowing traders to speculate on their movements.
- METALS: Ark Global Ltd offers the ability to trade precious metals, including Gold and Silver. Precious metals are popular commodities in the trading world, and this platform provides a means to participate in their price fluctuations.
- CRYPTOS: Cryptocurrency trading is available on Ark Global Ltd, with options to trade popular digital assets like Bitcoin, Ethereum, Ripple, and more. Users can take advantage of the cryptocurrency market's volatility and potential for profit.
- ENERGIES: The platform also caters to energy traders by offering the opportunity to trade in energy commodities such as Brent Crude Oil, WTI (West Texas Intermediate), Natural Gas, and Coal. Energy markets play a crucial role in the global economy, and trading these commodities can provide diverse investment opportunities.
Account Types
Ark Global Ltd offers a range of account types to cater to the diverse needs and preferences of its traders. Here are the different account types, each with its unique features:
The Pro account is designed for traders who seek competitive spreads, starting from 1.5 pips. With leverage of up to 1:500 and a minimum order size of 0.01, this account type is suitable for those who prefer a balance of trading flexibility and cost-effectiveness.
For traders looking for even tighter spreads, the Elite account offers spreads from 1.0 pip. Like the Pro account, it provides leverage of up to 1:500 and a minimum order size of 0.01. This account type is well-suited for those who prioritize low trading costs while maintaining substantial leverage for their trades.
The ECN account is ideal for traders seeking the lowest possible spreads, starting from 0 pips. With leverage of up to 1:500 and a minimum order size of 0.01, this account type is favored by those who prioritize competitive pricing above all else.
Leverage
The maximum leverage offered by Ark Global Ltd can vary depending on the specific trading account and the financial instruments being traded. Here's a general description of the maximum leverage you might find with Ark Global Ltd:
- Forex Leverage: For forex trading, Ark Global Ltd may offer leverage of up to 1:500 or similar ratios. This means that with a $1,000 deposit, a trader can control positions worth up to $500,000. Forex markets often provide high leverage options, giving traders the ability to magnify potential profits.
- Indices Leverage: When trading indices as CFDs, the maximum leverage might also reach up to 1:500 or close to it. This high leverage allows traders to access larger positions in the stock market indices with a relatively small amount of capital.
- Metals Leverage: Leverage for trading precious metals like Gold and Silver can be offered at levels similar to forex and indices, with ratios of up to 1:500.
- Cryptocurrency Leverage: For cryptocurrency trading, leverage can vary widely. It might range from 1:2 for more conservative trading to 1:100 or higher for more speculative trading.
Spreads & Commissions
The specific spreads and commissions offered by Ark Global Ltd can vary depending on the type of trading account and the financial instruments being traded. Spreads typically represent the difference between the buying (ask) and selling (bid) prices of an asset and are a source of revenue for brokers. Commissions, on the other hand, are separate fees charged for specific services. To provide you with detailed numbers, I'll outline the typical spreads and commissions you might encounter:
Spreads:
- Forex Spreads: For major currency pairs like EUR/USD or USD/JPY, the spreads can be as low as 1.0 to 1.5 pips. This means the difference between the buying and selling price for these pairs would be around 1.0 to 1.5 pips.
- Indices Spreads: When trading global indices as CFDs, the spreads can vary, but they might start at around 1 to 2 points (for example, the S&P 500 or FTSE 100).
- Metals Spreads: For precious metals like Gold and Silver, spreads could be as low as 0.1 to 0.5 pips, making these assets popular for traders.
- Cryptocurrency Spreads: The spreads for cryptocurrencies such as Bitcoin, Ethereum, and Ripple can vary widely. They may range from 10 to 50 pips or more, depending on market conditions and the specific cryptocurrency pair.
Commissions:
- Forex Commissions: In many cases, forex brokers do not charge separate commissions but instead generate revenue from the spreads. Some brokers, however, might offer commission-based accounts with commissions ranging from $5 to $10 per standard lot (100,000 units of the base currency).
- Indices Commissions: Similar to forex, trading indices as CFDs usually involves spread costs, and commissions are not commonly applied. Commissions may be included in the overall cost of trading.
- Metals Commissions: Brokers typically do not charge separate commissions for trading metals. Costs are primarily reflected in the spreads.
- Cryptocurrency Commissions: Commission fees can be more prevalent when trading cryptocurrencies. For crypto CFDs, commissions might range from 0.1% to 0.5% of the trade's notional value.
Trading Platform
Ark Global Ltd offers the MetaTrader 5 (MT5) trading platform, which provides a powerful and user-friendly environment for traders across various operating systems, including Windows, OS X & iOS, and Android.
Deposit & Withdrawal
Ark Global Ltd offers various payment methods to cater to the needs of its traders, making the funding process convenient and accessible. The minimum deposit required can vary based on the chosen payment method and the type of trading account.
Typically, Ark Global Ltd provides options for bank transfers, credit/debit card payments, and e-wallets like PayPal or Skrill. Payment processing times may differ depending on the method selected. Bank transfers, for instance, may take a few business days to process, while credit/debit card payments and e-wallet transfers are often processed more swiftly.
Customer Support
Ark Global Ltd offers customer support to assist traders with their financial inquiries and trading needs. The customer support team is accessible 24 hours a day, five days a week, ensuring that traders have assistance at their disposal during the majority of trading hours. This availability is valuable, as the financial markets operate globally and can involve different time zones.The customer support team is committed to providing assistance in various ways to accommodate the preferences of traders. Here's an overview of the available support options:
Phone Support: Traders can reach out to the customer support team by phone at +44-752-066-5502. This direct communication channel allows for real-time assistance and the opportunity to discuss any financial questions or concerns.
Support Email: For written inquiries or support requests, traders can contact the support team via email at support@ark-fx.com. This method is suitable for those who prefer to communicate in writing or have non-urgent questions.
Broker43330
Australia
It can be easier to open an account and run the platform. It's complicated on start. you should send many mails to make it work.
Neutral
2024-06-14
FX1488791882
Colombia
Recently, I've started trading with them, and I really appreciate the wide selection of assets to trade with. Also, their platform is user-friendly and easy to get a hang of. However, they don't have a clear regulation status, which made me a bit nervous at first. But overall, managing trades has been smooth so far.
Neutral
2024-04-26
FX1525503334
Cyprus
Their trading platform often lagged. Ever tried watching a movie that keeps buffering? That's how it felt, disrupting my trading flow. Customer service was as slow as a turtle race. The account opening steps involved too many complex procedures, a frustrating experience. Their demo account, however, wasn't much of a real market copy, lacking several live scenarios.
Neutral
2023-12-04
Goodtrader85254
Australia
Steering the conversation towards Ark Global Ltd, I've encountered both smooth waters and stormy tides with this forex broker. The positive side first, their trading platform performance is pretty workable. It has an intuitive interface that makes navigation easy and the technical glitches are few and far between. On the flip side, the fact that Ark Global operates without regulatory approval sticks out like a sore thumb. It brings in an element of risk that can be unnerving. Also, their trading conditions could be friendlier. The spreads are expansive enough to eat into my profits more than I'd prefer. Further, their commission structure feels steep compared to other brokers I've interacted with. The withdrawal process is a bit of a pain, seeming to crawl at a snail's pace.
Neutral
2023-12-02