ASFX Review – Can The asfxfirst.com Broker Steal Your Funds?

Is ASFX a Scam Broker?

ASFX claims that it is based in the UK. We could not find any evidence that the broker was authorized to operate in the country. When we checked the website of the UK’s financial regulator, the FCA, we did not get any hits for a broker with this name. We had to verify the name of the broker since we were not provided with a company name.

Instead, we recommend that you look for UK-regulated brokers. The FCA is a strict regulator that monitors brokers’ actions and ensures that they meet a high standard. This is why UK brokerages are among the most trusted and reliable in the world. To prove their financial stability, all UK companies must have a minimum capital of EUR730 000. You can also participate in the Financial Services Compensation Schemes (FSCS). This ensures that if your broker goes bankrupt, you may receive up to PS85 000 in compensation. The broker must keep client money in separate accounts. This prevents the possibility of your deposits and broker’s funds being mixed. he Negative Balance Protection policy wraps the whole thing up. This means that you will never lose more money than what you have in your account at any given time.

It is safer to work with UK-regulated companies than it is to choose scammers who only attempt to impersonate them. Make sure you choose a broker who is licensed in strict jurisdictions.

ASFX Trading Software

ASFX claimed to be able to provide access to its web-based trading platform. We tried to access the platform via the link provided by the broker on its website. However, this was not secured and we would be taking a chance if we proceed. We were reluctant to try that, and couldn’t access the broker’s platform and see if they actually offered any sort of functional platform at all.

ASFX Assets

ASFX didn’t provide us access to their platform, so we don’t know which trading instruments they offer. They stated on their website that they would let you trade on the most important markets, including forex, indices and stocks as well as metals, energies, energies and cryptocurrencies. This is the exact same market range that most established brokerages guarantee to offer.

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

ASFX: Maximum Leverage, Deposit and Withdrawal

ASFX claims maximum leverage of 1:500, supposedly on Forex majors. We do not have a reason to believe that does not also apply to other trading instruments.

These rates are too high to offer legal UK brokerages. Leverage restrictions are in place in the UK, as in other strict jurisdictions. Retail traders are prohibited from receiving more than 1:30 Forex majors rates from brokers. Higher volatility assets like stocks, indices, and cryptocurrencies have lower rates.

This is why leverage caps exist. Trading with higher rates could lead to greater profits but it can also cause much larger losses. Trading with high leverage can lead to big losses. The more volatile an asset or the market, as well as the less experience, the greater your chances of losing a lot of money.

ASFX does not accept wire transfers. Although this is a secure method of payment, we feel the need to point out that chargebacks are rare in these transactions. These transfers can also be very expensive – international wire transfers may cost as high as $100.

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 – Hermes Market, AzaForex, Blink Trades.

ASFX requires a $100 minimum deposit to open the account. Once you are ready to trade, ASFX will allow you to start trading. This is a very reasonable price. The broker isn’t the only one offering cheap trading accounts. Many legitimate businesses offer accounts for the exact same amount of money, sometimes even less.

ASFX: 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 ASFX. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about ASFX!