Augs Markets (Augsmarkets.com) is an askew CFDs and Forex scam broker to hit the trading scene. AugsMarkets is claiming to be ASIC regulated which is far from the truth. In fact, AUGS MARKETS is another brutal Forex platform targeting Chinese investors. With some members contacting us with various issues, we decided to investigate. What we found out will shock most traders. Make sure to read this entire Augs Markets Review.
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Why would a platform which claims to be registered by ASIC have a Chinese themed website? And this is one of the many online Forex scams stealing from anyone who signs up. These scam artists have perfected the art of deceit and are looking to steal your funds.
What these scam artists have done is create a website which looks real. At first glance, AugsMarkets looks like a legit brokerage firm. After taking a closer look, this is where you start to see some of the red flags. To begin with, Augs Markets is offering insane claims and promises to users. Why do they claim they are one of the few financial derivatives in Australia with payment license rights? Every legit broker has a payment license, none of them states it. This is a false claim to lure investors into signing up.
For a broker who claims to be registered by ASIC, they surely know how to hide their identities. Who are the actual people running this brokerage site? Why have they failed to mention the owners of AugsMarkets? This means users are depositing funds to an unknown third party. A real broker will easily reveal their founding member’s names. This creates clarity as well as transparency with the broker.
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AugsMarkets is possibly an offshore broker who is targeting Chinese investors by claiming to be regulated. Scammers use official regulatory bodies to claim recognition by these licensing commissions. Users are warned Augs Markets is likely to shut down their website after having their fill. This broker is far from being legit and more details regarding their tricks will be exposed.
There’s no way Augs Markets is licensed by ASIC, this is why. This broker has not met the standards required for a brokerage firm to get a trading license. The license number they have posted on their homepage is nothing but a random number. To verify this information, we did a search using ASIC’s register and found no matches. This means Augs Markets is operating without a license.
A real broker will post their licensing and registration details for all to see. Why hasn’t this broker done so? Another disturbing factor with this broker is how their website fails to give users vital information. All brokers are supposed to post a legal agreement’s page with contracts and set rules. Why has AugsMarkets failed to do so? It’s clear we are dealing with a rogue broker who is out to cause malice. Stay clear from this broker and ignore all attempts to sign up with them.
And this is where AugsMarkets is openly defrauding investors who sign up with their demo account. Yes, once you sign up with their demo account, you will earn over 98% successful trades. You should keep in mind this demo account uses virtual money. This means the money used to fund the demo account is not real. And these scammers use this to their advantage. Opening an account with them will leave you in tears.
After users realize they are making a killing with a demo account, they will want the real deal. Depositing funds with their platform is what these scammers want. After making deposits, you will receive calls from their agents asking for more deposits. This is when most people realize this exactly like a pyramid scheme.
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Another reason to avoid this broker is their unstable and unsafe trading platform. Augs Markets is using MT4 trading platform which is highly unstable. In order to test their platform, we decided to download it and see how it works. Problem with this is how download took time and eventually stalled at 25%. And this is what makes their platform even more dangerous as it leaves users vulnerable to attacks. Unstable platforms are easy targets for hackers looking for data.
Hackers are known to attack unstable platforms mainly for credit card information. They can also gain access to your bank account and pay goods and services with them. Most investors have had their bank accounts swiped clean by hackers simply by using unstable platforms. AugsMarkets is not secure and is likely to leave you vulnerable to attacks. Stay away from any platform which is unstable and sign up with the right platforms. AugsMarkets is a scam.
Thanks to clear evidence we have, it’s safe to say Augs Markets is not properly securing funds. Where do they bank deposited by members? Why have they failed to reveal set guidelines regarding depositing? Another horrifying red flag with this broker is how members are depositing funds. It’s highly possible users are depositing funds straight to owner’s personal bank account.
Segregation of funds is another problem being condoned by this broker. A broker who does not segregate funds is openly flaunting set trading regulations and rules. This means AugsMarkets is pooling funds in one account. When bankruptcy or insolvency hits the platform, all funds will be deposited. Does Augs Markets offer a compensatory scheme? No way, they don’t insure funds as it should be done by a real broker. This is what makes AugsMarkets a total and dangerous scam.
After carefully checking the evidence, its clear this is a scam. Make sure to stay away from this lousy scam, as they are simply out to get your money. Warn your family and friends from signing up with this platform. To stay safe, mark all their emails as Spam and never click on any links sent by their marketing team. And now you know what to expect with this broker, total chaos and theft.
To protect our readers, we have to add this platform to our scam blacklist. This will ensure no one who reads this review falls for their scam tactics. Stay clear of this platform and always sign up with authentic and efficient Forex brokers. Experts will guide you on how to safely place trades and make a substantial profit margin. Professionals will help you trade comfortably and safely.
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Lastly, we wish you all the best.
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