Forex trading is one of the most convenient methods to make money from the comfort of your own home. Many scam brokers in the forex market operate without the approval of a financial body. One of the biggest, the UK watchdog FCA, has been disclosing banned corporations to raise public awareness.
A forex scam broker is an organization or person who may be running a fraudulent operation in the foreign exchange market. They may entice traders with false promises of large profits, manipulate transactions, attract advertisements, or steal money from traders' accounts. AstroFXC Trades is one example.
A Quick Overview of AstroFXC Trades
AstroFXC Trades is a fund management firm established in the United Kingdom (https://astrofxctrade.com/index.html). The broker promises to provide planned investing solutions with a greater rate of return in a variety of financial markets, including forex, stocks, and binary options. The business believes that consumers will choose an investment plan beginning with a $300 deposit and rising up to $50,000 and then wait a few weeks to get rewards. It diversifies customers' investment portfolios, according to the broker, to decrease risk exposure and boost return potential. It does not, however, discuss its regulatory status or if a financial compensation plan is in existence. If you want to join the broker, bitcoin is the sole accepted payment option. Customer service is available 24 hours a day, seven days a week by live chat, phone, and email.
Is the trading of AstroFXC regulated？
No! AstroFXC Trades is not a regulated entity. The firm is situated in the United Kingdom, according to the broker's website. Because all brokerage businesses must be registered with the Financial Conduct Authority (FCA) in order to operate, we investigated the British regulator's database for a match and found none.
Thus, the UK watchog FCA released a warning statement againts AstroFXC Trades.
What Made AstroFXC Trades a Scam Broker？
They are registered in the United States, according to their official website. The NFA, a significant financial body in the United States, does not have an account with AstroFXC Trades. In addition to the US SEC.gov
US SEC Gov
On the other hand,
WikiFX App as a medium platform of major financial authorities across the globe. Investigated and found that this broker hasn't registered even on a certain financial authority.
Aside from the firm's regulatory standing, they are confident on their official website to offer the client a set return based on the amount deposited. That is a complete fabrication. Losses are a component of the investment markets, and no investment firm can remain profitable indefinitely.
Final words
Before investing with any broker, do comprehensive research and due diligence on them, and be careful of red flags such as a lack of regulation, claims of assured returns, and unsolicited offers. If you feel a broker is a swindler, report them to the proper regulatory authorities and stop doing business with them.
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