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Even the Portuguese regulator agrees that ABC Group Ltd is a scam. The warning was issued on July 2022, with investors heeding the warning. Those who haven’t seen it fell for the scam and now face the risk of losing funds. The platform started blocking withdrawals a while back. You must avoid this platform or risk losing every penny deposited. Here’s more in our candid ABC GROUP LTD REVIEW.
The funny who is section talks of ABC Group Ltd being on the client’s side and bearing all costs. These are funny statements from a platform that doesn’t even care about its customers. And that’s where we must draw the line.
The platform is taking investors for a ride. Investors will trade and later don’t get a chance to enjoy their profit. We tried reaching out to get their side of the story. But then again, the platform blocks all communication regarding withdrawals.
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Those who have signed up with the abcfx.group platform is ruing the decision. The platform is only here to take advantage of investors. Those who’ve signed up will have difficulty getting a penny from it.
Judging by the aesthetics, the platform doesn’t offer any reliability to customers. We can see the platform trying to hide vital information such as available account features and types.
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There’s no credible background and information regarding the platform. Instead, it wants us to believe every word without question. Those who blindly sign up without researching end up paying the price. You won’t get a dime back.
Experts recommend doing due diligence before signing up with any trading platform. It’s one of the best ways to safeguard your interests in the forex scene. You can also request us to do a review on any platform.
Your funds are far from safe with a platform failing to offer reliable forex trading services. In addition, the platform lacks DDoS protection or SSL encryption. These are platforms that don’t safeguard your interests and leave you exposed.
We discovered that the platform seems to hold funds in a single personal offshore account. It means the platform doesn’t segregate funds as dictated by trading regulations. That’s another cause for concern.
There’s also the issue of not having to offer insurance cover for deposits made by the public. Again, this is because the platform doesn’t deposit the minimum required amount with regulators to start a forex business. And that puts the public’s investment at risk.
Regulators use these funds to guarantee safety in bankruptcy or insolvency. Without the amount in the regulator’s hands, the platform is free to operate as it wishes. And that creates room for harsh trading conditions.
Your trading security should come first at any cost. Make sure to use a platform that guarantees security and covers your interest. A genuine platform will protect your safety by having a permit to operate by regulators.
These are some of the red flags we found on the platform. You must check out these platforms before depositing funds with unknown platforms.
It’s probably the only exciting aspect of the platform. Members get to trade with the world-class MT5 trading terminals. In addition, the platform comes equipped with several advanced tools and technical indicators.
You get a stable platform that covers all aspects of safety and security. Most experts use this platform thanks to its intuitive part of it. On the other hand, beginner traders can quickly learn from the platform thanks to the various educational materials.
There’s no mention of any trading account features on the platform. It seems the platform avails one account for all aspects. Beware of such platforms, especially those claiming registration in offshore locations.
The platform even fails to list the acceptable minimum deposit. And that’s how they plan to take advantage. Instead, the platform will call you, claiming the more you deposit, the higher your chances of winning.
Don’t deposit more than $250 in a platform you want to try out. That way, if it doesn’t work out, you won’t lose a large chunk of funds. The platform in question claims $1,000 is the best amount to get results.
You won’t withdraw even a penny.
Aspects of trading, such as minimum acceptable leverage, are missing from the platform. We suspect the platform changes leverage from time to time. In most cases, leverage is above the recommended maximum of 1:100.
High leverage puts your trading position at risk. You’re bound to lose more, and the platform will earn commissions from your losses. That’s why you will find the platform listing leverage of 1:1000 on some assets.
There’s no demo account available for users to test the set features. And that makes investing with the platform a high-risk venture. However, a reliable trading platform will offer a demo account for investors to choose from.
The platform lists four classes of trading instruments available on the platform. These include commodities, forex, indices, and securities. Commodities used to trade include crude oil, natural gas, wheat, sugar, etc.
Forex trading is the biggest puller on the platform. You get to trade major and minor currency pairs. However, the platform fails to mention the set features regarding leverage and spreads. As a result, you are going in blind, not knowing the set pips for these assets.
Available indices include those from Asia and Europe. Indices are an excellent way for day traders to make a living. You get to trade in the international market scene. That’s the perfect way to day trade if the platform is legit.
Securities have been available from day one in terms of investing and trading. The platform avails of several leading stocks from major brands. You can trade stocks from the manufacturing, tech, and textile industries.
NO, the platform doesn’t comply with any trading regulations. There’s no proof despite claiming to register in St. Vincent and the Grenadines. The platform fails to furnish members with a valid certificate of incorporation.
When investing with any forex trading platform, check and confirm with regulators. The platform must have a license number that matches records on the regulator’s file. Without it, you’re walking into an unsecured trading platform.
Check with reputable regulators to confirm whether a platform is legit or not. These include regulators such as ASIC, BaFIN, CFTC, CNMV, CONSOB, and CySEC. Others include FCA, FINMA, NFA, and the SEC.
The platform lists bank transfers as the only depository channel. You can deposit via MasterCard and Visa. Once you deposit, the balance will reflect in your dashboard within 24 hours. You can then start trading.
When the time comes to withdraw funds, all hell breaks loose. The platform will start giving excuses as to why you can’t withdraw funds. So make sure to sign up with platforms that allow withdrawals.
Please avoid the platform, as it doesn’t let members withdraw.
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