Think of trading with Afexmarket.com platform? Is this broker a reliable broker to trust? You seem to be uncertain about the broker let’s read Afex Market reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About Afex Market FX
Afex Market FX otherwise known as Afexmarket.com is an offshore brokerage with a lot of promises for forex traders. The forex company provides a registered address in London.
The broker offers different account types such as —
Further, Afex Market promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
What We Discovered about Afexmarket.com Broker
First of, Afex Market doesn’t mention anything about its purported regulation or at least the financial authority that is supposed to be overseeing its activities. But claiming a London address, we chose to clear our suspicions.
A quick check on UK financial authority, FCA database. We did not find that AFEX Market is listed with the UK’s Financial Conduct Authority – the country’s regulatory body.
What’s more, the Terms and Conditions are nowhere specified on the website. Again, the broker filled us with a short generic policy and the Risk Disclosure states was also couched in generalities.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Afex Market Minimum Deposit
Afex Market deposit is indicated $250 according to the account type. In contrast, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, Afex Market shows logos of Master card and Visa for deposit.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Afex Market withdrawal says nothing on specific information regarding withdrawal fee and processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Afex Market Platform:
Afex Market FX claims to offer web trader and MT4. While the MT4 offer may appear fine for trading, we found out that this was a lie. What this broker actually offers is a weak, web-based trading platform that does little more than offer by and sell options.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Looking at Afex Market leverage, it can get up to 1:500. Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Afex Market Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Afex Market FX located at Afexmarket.com claims to appear like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed forex broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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