AzaForex Review – Why Is The azaforex.com Broker a Scam?

Is AzaForex A Fraudulent Brokerage Without a License?

AzaForex is an online brokerage that AZA PRO LLC runs from the Marshall Islands. According to other reviews, this broker appears to have previously operated out of Saint Vincent and Grenadines.

These two domains are offshore. However, neither financial authority regulates Forex trading. This is why AzaForex regulation is crucial. Brokers are not licensed to offer trading services.

It is easier to set up an offshore company than to establish a brokerage onshore in strict jurisdictions like the Europen Securities and Markets Authority, which is why scammers often do it.

We recommend that you look for a broker who has a Tier 1 trading licence, issued by the FCA, BaFin and CONSOB. If you are from the US, ensure your broker is registered with NFA or CFTC.

It will protect your funds and allow you to claim a compensation plan (e.g. up to 20,000 EUR in ESMA Domains) in the event that the broker becomes insolvent.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

AzaForex, an offshore broker based in the Marshall Islands, is not licensed to trade and actively targets traders from the United States of America, Germany, South Africa or Indonesia since 2020.

Financial Watchdogs Issue Cautionary Warnings

AzaForex received one warning. This offshore broker was providing services to traders without authorization by the Canadian Securities Administrators

This warning was issued by the CSA on February 15, 2023. We hope that more regulators will issue warnings about AzaForex to traders.

What Can You Trade With AzaForex?

AzaForex offers the following:

• Forex pairs: EUR/USD, AUD/NZD, GBP/JPY…
• Indices: AUS200, S&P500, UK100…
• Commodities: gold, silver, brent oil…
• Stocks: Boeing, Google, Tesla…
• Crypto: BTC, LTC, DASH…
• Binary options: Chinese and American (107 options).

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – Trade Genics, VirtuFinance, Menara Mas Futures.

AzaForex’s Trading Account Types

AzaForex has three trading accounts:

• Start: Min. deposit of 1 USD, leverage up to 1:1000
• Pro: Min. deposit of 2,000 USD, spread 0.5 pips, leverage up to 1:1000
• VIP: Min. deposit of 10,000 USD, spread 0.1 pips, no commissions and leverage up to 1:1000

ECN options are available for VIP and Pro accounts. Trading with AzaForex is extremely risky because of its high leverage levels. Reputable regulators like the FCA or ESMA have imposed a leverage limit of 1:30 on retail clients.

AzaForex: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about AzaForex. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about AzaForex!