In this review we go through the main reasons why you should not trade cryptocurrencies with Ark Management.
What is Ark Management
Ark Management is a platform for cryptocurrency trading. You can trade Bitcoin, Ethereum, XRP, Bitcoin Cash, Chainlink, Litecoin, Cardano, Tether, EOS and Bitcoin SV.
However, with Ark Management you will not be buying and selling cryptocurrencies directly. Instead, the trading happens through derivatives that they call CDC. The standard leverage is 1:4.
The minimum deposit to open an account is 250 USD. There are several types of accounts with different trading conditions. For example trading fees start at 6% and go down to 0% with the highest account.
ARK Management supposedly is based in Singapore and the company claims to be safe and compliant. Can you trust it, is it legit?
Stay away from Ark Management
While researching about Ark Management we found several red flags that force us to recommend staying away from this trading platform. Here are the main ones.
Not a real company
ARK Management supposedly is based in Singapore, 182 Cecil Street. But when you make a search in the register of companies in Singapore, you will not find the company there.
So, this Ark Management crypto company is not a real company in Singapore. It is not registered there and who knows who really is running it and where they are based. This is the first big red flag.
Trading cryptocurrencies and other assets always involves fees. However, ARK Management’s fees are huge. 6% for the basic account is extremely expensive. Crypto trading normally has fees about 0.25% and less.
So just this fact is a big reason for not to trade with ARK Management, you would be overpaying them on fees, you would be losing money unnecessarily.
One of the striking things about ARK Management’s terms and conditions is that they define their trading product as CDC. But what is that? It certainly is not a common abbreviation in trading.
Well, they say that it includes digital asset contracts, futures, options, contract for difference, commodities and foreign exchange contracts. So mostly crypto derivatives.
We know for sure that crypto derivatives are regulated in the EU and the same applies to the US. Therefore any company facilitating crypto derivatives trading, needs a license in those regions and countries.
But ARK Management has no license to provide crypto derivatives trading. So it cannot legally offer its trading to people in a lot of countries, including the EU and the US.
In fact, the Financial Conduct Authority recently place ARK Management on its blacklist for providing financial services without authorization. This proves that the company’s products are financial derivatives that are subject to regulation.
There are still countries that do not regulate crypto derivatives trading, we suggest you contact your national financial regulator and ask them about ARK Management if you are interested in this topic.
Bad user experience with ARK Management
Perhaps the biggest problem with ARK Management is that people have troubles withdrawing their money from this platform. One of our readers confirmed us that their account was closed after they requested a withdrawal.
Users reviewing ARK Management on TrustPilot say the same, the company refused them their withdrawals, so they say it is a scam.
There seems to be a lot of problems with ARK Management, which is another huge red flag.
ARK Management review – Conclusion
ARK Management is an unregistered and unregulated company. It offers crypto derivatives trading without any license, which is illegal in a lot of countries. And users complain about not being able to withdraw money. We recommend staying away from it.
If you want to trade cryptocurrencies, do it with a regulated company. You can even start on a free demo and try everything with virtual money first.
When investing real money, please understand the risks and be careful.