After a thorough investigation, Aman FX Traders (Amanfxtraders.com) review is here. What looks like a genuine trading platform is nothing but a shoddy website with no transparency. They have been in the ropes ever since complaints started coming out from investors. What looks like a genuine trading platform is nothing but a fraudulent place to lose money. Investors should be careful with such platforms which appear from nowhere. The AmanFXTraders review is here to expose the problems with this account managed platform.
After landing on their homepage, it is clear to see why investors would fall for this platform. It has an appealing design which makes it an easy platform for newbie investors. Upon further scrutiny, we found out that the platform is full of lies. They have used industry jargon to throw off investors into believing this is a real platform. Read this entire post and find out the reason why we insist the platform is a hoax.
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When the complaints started coming out, the support team would not be able to respond. Aman FX Traders is a problematic platform that has no real ROI. They claim to help traders get 70 percent ROI which is not possible since they guarantee it. A guarantee for such a high ROI is not plausible in the trading world. The market is volatile and prices change without giving anyone a warning. And this is why no one should sign up with a platform that offers such a humongous guarantee.
They claim that the team behind the forex managed accounts is professional. We would like to know who these experts are since they fail to give their names. It is possible that the platform is surrounded by amateurs who want a piece of the cake. Without the names of the actual people behind the platform, it looks anonymous. An anonymous online trading entity is the last thing one would want. These platforms tend to shut down as soon as they emerged without giving users a warning.
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The comments from members have been far and wide with most demanding their funds back. None of these victims have managed to get their funds back as the deposits don’t get insurance cover. It is another problem with such platforms as they fail to give traders full compensation. Another issue is that the support team seems to be blocking accounts and calls from members.
A look at who.domaintools.com gives us the full details of what is happening with the platform. The website went live on 4th March 2017 and they have their servers in Virginia. What is funny is that the platform claims not to offer their services to Americans. They have had three IP addresses over the last three years. It could be an indication that the platform has changed ownership. And this means the current owner is probably selling a recycled product and service to investors.
Near the bottom of their homepage, there is a three-step signup process that investors should use. What caught our eye is the third step in which investors give their accounts to other traders. Why would an investor give up their trading accounts, with funds to an unknown party? It is the reason why we insist that the platform is hiding the details of the people behind it. Investors should be more careful and use products and services from reputable online experts.
Aman FX Traders is NOT licensed to offer any forex managed account services. Without full details of where the platform is located, we could not find their license details. They offer no terms and conditions page which is a problem for anyone who signs up. Without these terms, the platform could take advantage of investors. Their accounts could be used to benefit the brokers who are trading on them. And this is why investors must understand the terms and conditions of a platform before signing up.
We started in the States where their servers are located and found out the truth. The CFTC and NFA have no account manager service provider licensed under this name. Other regulators in Europe such as FCA plan to ban this platform. It is why no one should sign up with this platform in the first place.
Aman FX Traders is offering investors three account types to choose from. These accounts are listed as Bronze, Silver, Gold, and Diamond. The initial investment for the Bronze and Silver account is listed as $50,000. Gold and diamond account holders must deposit $200,000 and $500,000 to start trading. From the look of things, this is beyond risky. Another issue is the high-performance fee on these accounts which starts at 40 percent. They claim that investors have to send a withdrawal notice seven days prior. And this is another problem we will expose.
A look at the website reveals that the platform does not offer any live chat support. With a depository of $50,000, one expects that support is available 24/7. Members wishing to contact support must fill in a form and send their message. And this means that the response time may vary depending on the urgency. And this is why we must expose the platform as a fraud since they are only interested in deposits.
The platform does not give users the depository channels to use on the homepage. What they do is send an email with a bank account where investors should send their funds. And this is a problem as the platform does not indicate the owner of the bank account. It could be a personal bank account where investors are filling the pockets of these scam artists. Withdrawing is the biggest issue facing members. After sending the withdrawal request, the account gets closed on the sixth day. And this is what makes the account managed platform a scam.
They claim to use a combination of strategies to achieve their results. The platform claims to focus on risk mitigation by analyzing the market. They have managed to produce a single myfxbook account. The account shows a gain of 53 percent but the named account stopped trading two years ago. Why have they failed to update the results on their homepage? Ensure you sign up with platforms with reliable trading results.
The platform is out to make some huge problems for investors. After depositing funds, users should not expect to get any insurance cover. And this is another concrete reason to stay away from the platform. It is not worth the risk since there is no money-back guarantee.
After going through the facts, it is clear Aman FX Traders is a scam. Stay away from the platform and use industry-recommended products backed by experts. Warn your loved ones on the risks involved with such a platform.
To protect our esteemed readers, we must add this forex managed account platform as a scam.
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