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ASF Markets Review: Asfmarkets.com Broker Scam

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ASF Markets Review: Asfmarkets.com Broker Scam

ASF Markets (Asfmarkets.com) is a newly created trading platform that has already started causing problems. ASFMarkets is regarded by many of its members as a scam due to the broker’s harsh trading conditions. The platform is barring members from accessing funds. Once you deposit funds with this broker, it is the last you will see of it. And this is why the platform must be exposed to protect unsuspecting investors. Read this honest and transparent ASF MARKETS Review for more.

ASF Markets Review

About ASF Markets

The broker is claiming to help traders achieve their trading glory with the platform. They also claim to have a wide array of Cryptocurrencies to trade with. Digital currency is the new frontier and everyone wants a piece of crypto trading. These scam artists have taken advantage of this need by offering a cloned trading platform. ASF Markets is fooling investors into believing they can make a profit with the platform. Only way to make money with digital assets is using expert brokers. They guarantee safe trading at all times.

Not much is known in regards to the broker’s online reputation. Complaints started coming out after the first bunch of members decided to withdrawal funds. It is reported that the broker openly blocks accounts for anyone looking to withdrawal funds. Recovering funds from this broker has been a daunting task for most members. It would seem ASF Markets is another anonymous online trading platform.

Assets Found on ASF Markets

ASF Markets is offering a number of assets on their platform. These assets include Commodities, Cryptocurrencies, Energies, Forex pairs, Precious Metals, and Stock Indices. Commodities on the platform are traded via CFDs on different exchanges. The only Cryptocurrency asset found on ASFMarkets is Bitcoin. Energy products found on the platform include electricity, natural gas, and oil.

When it comes to Forex currency, ASF Markets is offering major and minor pairs. Stocks such as FTSE100 and S&P 500 are also on the platform’s rooster. Account leverage set on most of these assets has been set at 1:1000. The broker claims to offer low spread of 0.01. They claim to have the award winning MT5 trading terminal which is far from the truth. With the broker creating a visually enticing website, a majority of investors did sign up. And now, most of them are looking for ways to recover their funds.

Business Owner

Disclaimer at the footer of their homepage claims AS Financial Services LLC operates the website. Location of the company is posted as being in St. Vincent and the Grenadines. Immediately, we know the broker is based offshore. There’s nothing worse than signing up with an offshore broker.

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Domain Details

Records show asfmarkets.com was created on 29th September 2019. These details indicate the broker is barely a year old and yet, complaints have begun to surface. It is a clear indication of things to come and it is best to stay away. And this means the broker is not in any way near reliable. They have just a few months of trading existence.

License and Registration details of ASF Markets

The Financial Services Authority has no broker or entity licensed under the name ASF Markets. And this is a solid indicator of the broker’s inability to offer ample trading services. These are scam brokers who have no way of getting a real trading license.  A look at the company register in St. Vincent and the Grenadines reveals no such entity exists.

Members who deposit funds with the broker should understand the broker is not to be trusted. Any funds deposited head straight to owner’s bank account. To protect investors in the European region, most regulator plan to warn traders. These include BaFIN, CySEC, FCA, and FINMA. Stay away from unregulated online trading platforms.

Restrictions of ASF Markets

Account Details

ASF Markets Account Details

ASF Markets is furnishing traders with three account types to choose from. Accounts listed include Standard, Executive, and VIP. Spreads on these accounts differ from 0.1 to 1.7. Minimum deposit for the basic account which is Standard account is set at $10. Scam brokers will go for a low asking price to get newbies to sign up. The industry has set $250 to be the acceptable minimum trading deposit. Stay away from these scam artists or else risk losing your funds.

Bonus Offered

The broker claims to offer a 25 percent deposit bonus on their platform. And this will drive unsuspecting investors to sign up. The regulators are planning to ban the use of bonuses for various reasons. Scam brokers are using bonuses to block withdrawal requests. They demand a user pays back the bonus via a new deposit. Even if an account has a balance that can offset the bonus, the broker wants a new deposit. And this is clearly violating online investors and traders.

Contact and Customer Support

On their contact page, the broker has posted two different email addresses as means of communication. The page lacks a phone number which is proof of the broker’s intent to stay unnoticed. By choosing emails, they get the chance to make a decision on which email to respond to. A true and genuine broker will offer live chat support which is effective and efficient.

Funding Accounts

Depositing funds with ASF Markets is easy and fast. Although the process is fast, it is not a good enough reason to sign up. Deposit channels listed on the platform include bank wire, Bitcoin, credit/debit cards, Neteller, and Skrill. These are easy to find depository channels which make it easy for anyone to fund their accounts. Withdrawing funds from asfmarkets is still the biggest hurdle members face. None of the members have been able to make withdrawals from the beginning of the year.

Trading Terminal

The broker clearly indicates they are using the award winning MT5 trading platform. These scam artists are using empty claims to lure investors to sign up. The problem with their custom built website is lack of proper security features. They have failed to debug the platform making it highly unstable. The speed of executing trades is slow at best. And this is why everyone should steer clear of the platform.

Safety of funds with ASF Markets

Security of funds is wanting with a broker who is based offshore. ASF Markets is not segregating funds as dictated by trading regulations. The broker is pooling funds in one account. Members have been depositing funds straight to owner’s bank account. And this is the main reason why no one has been able to withdraw funds. And this is how the scam artists get away with your hard-earned funds.

Scam or Legit with ASF Markets

ASF Markets Account Funding

With the evidence on our hands, it is clear ASF Markets is scam. Exposing them will ensure no one else falls for their trap. Mark any of their promotional emails as spam and don’t sign up with their affiliate programs. None of the affiliate members have also received any payment from the broker. Warn your family from joining such programs as they will be held liable for online theft.

Bottom Line

To protect our readers, we have to add this broker to our scam blacklist. Stay safe by using dedicated brokers who have years of trading experience.

We hope you will continue reading our reviews for more on online trading products and services.

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