The initial red flag becomes evident when you observe the absence of ownership disclosure from the company, a concern amplified by the fact that such crucial information is not even included in their Terms and Conditions documentation. This represents a less than ideal beginning for a brokerage firm operating under Swiss registration. Or does it?
In any event, the company presents a multitude of offerings that appear to lack coherence and consistency. To gain insight into identifying these inconsistencies, delve into this impartial AiFX Markets review.
Legitimacy Check: Is AiFX Markets a Trustworthy Broker or a Scam?
AiFX Markets should ideally possess a license from FINMA, but our efforts to locate this broker in their records yielded no results. Our hope dwindled, prompting us to explore other reputable registers such as FCA, BaFin, and ASIC, which are recognized as some of the most reliable regulatory bodies worldwide.
Unfortunately, the outcome remained consistent, sealing the fate of this dubious broker. Consequently, it becomes evident that none of the safeguards purportedly in place for fund protection hold any real substance.
Client Base of AiFX Markets
As anticipated, AiFX Markets is a relatively recent player in the field, with records dating back to February 2023, as per who.is. Consequently, it’s not surprising that they lack a substantial number of reviews at this early stage. However, it’s merely a matter of time before reviews start emerging, likely accompanied by regulatory warnings.
Investment Expenses with AiFX Markets
The impending exposure of this broker stems from their non-transparent and high-risk terms and conditions. Notably, they offer an unusually high leverage level for a European broker. While the European Securities and Markets Authority (ESMA) restricts brokers to a maximum of 1:30 leverage, in line with other reputable European regulators, AiFX Markets offers a staggering 1:500 leverage.
Despite advertising low spreads that commence at 1.5 pips, it’s crucial to note that the actual costs may diverge significantly from this initial figure. Moreover, the broker fails to disclose any additional charges, further raising concerns about their transparency.
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