Summary:
The online trading platform AssetsFX was established in 2013 and is based in Mauritius. It positions itself as a global platform that provides its clients with a wide range of trading options, including Forex, CFDs, commodities, indices, cryptocurrencies, and stocks. However, a careful consideration of the broker triggers serious doubts regarding its authenticity. Various reviews classify AssetsFX among the unregulated offshore entities that have false regulatory assertions, withdrawal troubles, and unreliable service patterns.
About AssetsFX
AssetsFX represented itself as a trustworthy forex and CFD broker with a global presence. Besides, the broker was making more and more claims regarding the provision of advanced trading tools, competitive spreads, and a large number of instruments to trade. Yet, the broker’s statements lack credibility since it is not regulated and has been listed as untrustworthy by multiple regulatory bodies.
Red Flags and Warning Signs
1. False Regulatory Claims
AssetsFX claims to be licensed by the Mauritius Financial Services Commission (FSC). This claim is not confirmed by any authoritative documents. The FSC register does not include AssetsFX even though independent attempts to verify have been made.
2. Offshore Registration
The registration of the company in St. Vincent and the Grenadines creates a lot of doubt. SVG is a place that is notoriously known for not demanding brokerage licenses and thus giving no real investor protection. Usually, the unregulated platforms also pick such areas and operate without any supervision.
3. Regulatory and Public Warnings
- The Central Bank of Russia has pointed out AssetsFX for engaging in illegal financial activities.
- The investigators have indicated the broker’s deceitful use of the identity of the companies with similar names in Mauritius, which is a sign of possible identity theft or misleading registration tactics.
Such warnings are a reflection of the past that can be traced back to the present and should not be overlooked.
4. Suspicious Online Reviews
The online reviews about AssetsFX are extremely different:
While on Trustpilot and Myfxbook, you have reviews speaking of the smooth service and quick withdrawal, the specialized forex watchdogs and forums like Forex Peace Army point out very serious complaints:
- “AssetsFX took my deposit and profits, banned my account, and never refunded my balance.”
- “They forced me to close my account and kept my money. This company is a scam.”
It is thus suggested by these conflicting reports that there might be some people who wrote positive reviews just for the purpose of misleading the investors who might be thinking about putting their money into the trade.
Also read EterWealth review.
Key Concerns for Traders
It is a must for traders to consider the following before getting into any dealings with a broker:
- Check the broker’s regulation on the respective official regulatory websites.
- Keep away from offshore-registered companies that do not provide any protection to the investors.
- Do not depend only on the online reviews – inquire about official warnings from the financial authorities.
- Never invest large sums without having the confirmation of the broker’s regulation and the existence of transparent withdrawal policies.
Frequently Asked Questions (FAQs)
Q1. Is AssetsFX a regulated broker?
No, it is not. AssetsFX, despite its assertions, is not associated with any recognized regulatory body, not even the Mauritius FSC.
Q2. Why is AssetsFX considered risky?
Due to its presence in offshore locations, it has made false claims about regulation and received warning signs from financial authorities for dubious operations.
Q3. Are the positive reviews about AssetsFX genuine?
Many experts think that positive reviews may not be real or even fake, as they are at odds with detailed reports from reputable financial sources.
Need Help Recovering Your Funds?
If you had losses or withdrawal problems from AssetsFX or another similar broker, contact TruClaim. TruClaim helps victims report phishing scams, investigate and trace the fraudulent transaction, and recover missing money held by the trading scam. Don’t wait – contact us now to protect your funds and have a more rewarding online trading experience.
Check the list of the latest scam brokers here.
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