AFUFX (Afufx.com) is another broken Forex trading platform trying to scam from anyone who signs up. After a thorough investigation we have solid proof AFUFX is nothing but an online scam. What this broker is planning to do is unbearable. To ensure traders remain safe, we have to expose the extent in which this broker is willing to go. Make sure you read this entire AFUFX review for more information.
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After receiving some disturbing emails from members who were duped, we had to investigate. What we found out was rather shocking to say the least. AFUFX is doing more harm than good by creating a false website. Immediately users sign up with this broker, depositing funds is their next option. Funding your account with this broker is a risky affair as AFUFX is a scam platform. AFUFX is being run by anonymous people making it a hellish trading platform.
Landing on their website, it becomes clear why many newbie investors are falling for this trap. By claiming to have an edge in technology and professing insane claims, users feel obliged to sign up. Low cost trading and comprehensive market research tools are some of the promises users are guaranteed. It should be noted scam artists will do or say anything to make their platforms appear legit. Stay clear of this broker or else become their next victim as many have!
What makes us question the legitimacy of this broker is ownership of the platform. Banner at the homepage claims this broker is owned by Advanced Financial Union Trade. After going through their about us page, another names pops up as the owner of this platform. Thames Valley Investment Advisers LTD. So who is the actual owner of this platform? Why have they using two company names to claim ownership? As we said earlier, scammers will do or say anything to make their products appear legit.
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Another unsettling factor with this broker is how well they have managed to conceal names. Who is the CEO or CFO of any of the above mentioned companies? Why have they failed to mention the names of the founding members? As a rule of thumb, brokers should be mentioning names of people who handle funds. How do they expect investors to be making deposits to an unknown third party? What appears to be a genuine Forex site hides their true motive, scamming investors!
Thomas Valley Investment Advisers LTD is a company which is recognized by the FCA. By contacting them, we wanted to know whether they are affiliated with AFUFX. As it turns out, they don’t have a clue their legal name is being used in a scam. After this expose, they expressed outrage in the manner in which this broker is conducting business. Scam artists are well known to clone names of licensed entities in an effort to feign legitimacy. Why are they doing this horrible act?
Lack of proper licensing and registration documents is driving this broker to use cloned documents. And this is a practice used by professional scam artists. With everything to lose, they make sure their website is looking legit at all times. Where are their copies of their licensing documents if they are indeed licensed? A true broker will post copies of their licensing documents for all to see. What this does is create transparency and trust between investors, brokers, and regulatory bodies.
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What this scam broker claims to be their preferred trading tool is not working. AFUFX is claiming to have MT5 trading platform. In order to test how well their platform operates, we tried downloading it. And this is where we faced another huge problem with this broker. Their MT5 trading platform is highly unstable thanks to lack of proper security features. What they claim to be an effective platform is turning out to be a risky platform. Hackers are finding it easy to penetrate this platform.
Hackers are known to steal credit card information from unstable platforms. What AFUFX is lacking is a proper security feature, SSL Encryption. Lack of this security feature means members are vulnerable from third party attacks. Stay away from these platforms which take time to download and have a complicated set up process. Dealing with them will lead to a tragic conclusion, by users losing funds. Simply ignore the urge to sign up no matter the promises mentioned.
How do they expect newbie traders to have a feel of their platform? Lack of a demo account means this broker simply wants to cheat users. Make sure to sign up with brokers who have a demo account. Demo accounts are helpful since they make members become familiar with the platform. With a demo account, users will know what to expect and how well the platform works. Is the platform slow in placing trades? No one knows unless they open a real account which is a disadvantage to newbie traders.
Another problem which must be exposed is how the broker is using one single account. Conducting a brokerage firm with members having one single account is extremely unhealthy. Why have they failed to mention the minimum trading deposit required to start trading? They want their members to cough up as much as they can. Just know the industry has set $250 to be the accepted minimum trading volume. Stay clear of this broker or else face the consequences of dealing with a scam platform.
Security of funds is never safe with a broker who is anonymous. How can funds be safe when the broker in question has no licensing credentials? Another horrifying detail is how they handle funds. Which is the bank they use to deposit funds made by users? Why have they left out this vital detail? After all, every member should know where their funds are being kept. It’s more than clear we are dealing with a broker who is only interested in pocketing funds. Beware!
Segregation of accounts is another problem we noted with this broker. What this means is AFUFX is pooling funds in one single account which is unhealthy. AFUFX may face issues such as bankruptcy; all assets will be lost in an instant. Why risk all these when you can be using proven alternatives. Binary Options trading is a sure way of making stable profit margins. By signing up with accurate and professional binary signal providers, profits will be realized!
After checking all the facts, we are sure AFUFX is another Forex scam. Make sure to ignore all their promotional materials including their affiliate programs. Most of these scam artists are offshore brokers and recovering funds becomes next to impossible. For a safe trading experience, use recommended trading tools only.
Transacting with such brokers will lead to losses of immense proportions. Stay clear of this broker. Adding this broker to our scam blacklist will help anyone reading this review to stay clear. You now know what to expect with this crappy broker.
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Wishing you all the best in your Forex trading experience.
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