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Apart from having exciting leverage, Asset Wage is a high-risk investment platform. Our assetwage.com review exposes why this broker is hazardous to investors and traders. Complaints have started trickling in especially relating to withdrawal.
It seems the broker has gone overboard and has started blocking withdrawals. We can’t allow this to foster especially considering Asset Wage is an unregulated trading platform. Here’s our clear ASSET WAGE REVIEW for more.
The broker claims to enjoy regulation from the SEC, one of the most reputable regulators. However, a closer check on regulated brokers on the SEC lists yields no results for the broker. And this is a clear indication the broker uses false license claims.
You have to wonder what else the broker is hiding from investors. These are the type of brokers that will promise heaven and deliver hell to naïve traders. And it’s our solemn duty to expose high-risk investment platforms.
Once you land on the homepage, you feel like an exciting platform. The broker creates an engaging website with all the necessary information. The broker claims to have over 60,000 traders from over 100 countries.
Of course, these are false claims meant to drive up sign-ups. The broker wants to appear global from a trader’s perspective. But, once you sign up, you start seeing the cracks. And that means having to become another victim.
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The disclaimer at the footer of the homepage tries to give a brief description of the ownership structure. Asset Wage Financial LLC is the broker claiming a license from the SEC. The broker also claims to be a Financial Industry Regulatory Authority (FINRA) member.
All these are false claims, as the broker doesn’t offer evidence to back these statements. You would expect copies of their license on display. There’s also an issue of rank as the broker fails to give information on who owns or runs the brokerage.
It seems Asset Wage is another anonymous brokerage. No investor wants to deposit funds to an unknown broker without accountability or transparency. We all want to engage with a sane broker who is available for comment and responds to email queries.
The disillusion created by the broker means there’s a high risk the broker is not who they say. And that puts all members at peril considering no one knows who handles funds in the platform. There’s also no way to reach out to the owner of the parent company.
Assetwage.com accepts one account for all investing and trading activities. However, the broker insists on a minimum investment amount of $1,000. Let it be clear that the industry accepts a minimum deposit of $250.
Any broker above this amount offers quality services and is dully regulated. The broker has an exciting leverage of 30:1, which might be why traders sign up. Accepted leverage of below 1:100 is okay for trading.
Spreads start from 0.0 pips, with the broker claiming to have over 130 trading instruments. You also get claims of ultra-competitive pricing and unbeatable value. In addition, the broker promises flexible leverage, high liquidity, and raw spreads.
There’s a self-service portal and free educational material available for newbies. A glance shows that these are documents downloaded free from the web. Even the tutorials are from third parties.
It goes to show how unconcerned the broker is to try and improve the skills of traders on the platform.
There are five classes of trading instruments available on the platform. These include commodities, crypto, forex, indices, and stocks. Commodities found include natural oil and sugar. Others include metals and wheat.
Crypto assets on the platform include Bitcoin, Ethereum, Litecoin, and Ripple. The broker pairs these crypto assets against each other. You won’t get to spread risks with major currencies against these digital assets.
There are major and minor currencies available for forex trading. These include the usual suspects of EUR, GBP, JPY, USD, and Yen. Unfortunately, the broker fails to offer exotic pairs, which would be ideal for spreading risks.
Indices trading is also available, with several indices up for grabs. Again, you get to trade on the world’s biggest stage. The broker offers much in terms of indices from all over the world. Stock trading is another crowd-puller.
Traders get stocks from major brands from all sectors. These include stocks from aviation, manufacturing, tech, and textile industries. Spreads are variable despite the claim of offering fixed spreads starting from 0.0 pips.
To try and get users to engage more with the platform, the broker claims to have won several accolades. These include Best broker in the Middle East 2019 and Best CFD Broker 2021. Note that none of these accolades have pictures to accompany the story.
You would expect the broker to have images of one of the staff members receiving the awards. Note that these are mere award logos and none have the Asset Wage name. It’s how far the scammer will go to try and fool naïve investors.
Plus, there’s no broker award ceremony without nominees. Most award ceremonies list nominees on the website for others to vote. Unfortunately, that’s not the case here, as the broker fails to mention the award ceremony stage.
Due to the rising withdrawal issues, we have to rate the broker lowly. We rate the broker a 1/10 due to the complexity of earning from the platform. No member has come out confident, proving to have won with the platform.
You also won’t find any positive reviews of the platform anywhere on the web. It goes to show why this broker is a scam. You have to stay away from the platform or risk losing everything. Please avoid such platforms in the future.
Asset Wage Financial LLC doesn’t have a business registration address or document. It shows the platform fails to offer much in terms of credibility. We should have the names of the people working for the broker.
Anonymity is the last option when investing in the forex markets. You want to invest in a transparent platform that offers much credibility. However, anonymity leaves a considerable gap in getting back funds.
Asset Wage is not a licensed broker and doesn’t have a permit to offer liquidity services. In addition, the broker doesn’t have a valid license from the SEC, as it would have led us to believe. Therefore, before investing in any platform, please check whether the broker has a permit.
The world’s leading regulators include ASIC, BaFIN, CNMV, CONSOB, and CySEC. Therefore, a broker without a valid license is not one we would recommend.
Your funds are far from safe with Asset Wage. The broker fails to segregate accounts or offer insurance cover for deposits.
Please stay away from the broker.
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