AfexEU presents itself as an obscure website aiming to mislead inexperienced individuals by portraying itself as a regulated forex broker. A thorough examination of the facts unequivocally establishes that Afex EU is a scam. Read this AfexEU review to find the reasons why it is imperative not to entrust your funds to Afex EU under any circumstances.
Website – http://www.afexeu.ltd/, http://www.afexeu.com/
Website Availability – No
Address – NA
Regulation – Unregulated
Warned By – Ontario Securities Commission (Canada)
Domain Age –
| Domain Name | afexeu.com |
|---|---|
| Date Registered | March 10, 2022 |
| Domain Age | 1 year, 10 months, 21 days, 22 hours, 24 minutes, 7 seconds |
AfexEU Review: Regulation
To start, when you examine the contact section on the Afex EU website, you’ll discover only a solitary contact form – no phone number, address, or any presence on social media accounts. Essentially, they remain largely anonymous. This is typically a significant red flag, signaling a potential scam where fraudsters aim to evade identification and communication.
Furthermore, their website conspicuously lacks essential legal documents that should be readily available to clients. This lack of transparency only serves to make the entire company appear more dubious and shrouded in anonymity. However, our disappointment was profound as none of the regulatory bodies have Afex EU registered as an authorized entity.
Warnings issued against AfexEU
AfexEU, a platform claiming to be a legitimate forex broker, has recently come under scrutiny and warnings from reputable regulatory bodies. Both the Financial Conduct Authority (FCA) and the Ontario Securities Commission (OSC) in Canada have issued warnings against Afex EU, flagging the platform for its dubious activities. These regulatory alerts serve as red flags, cautioning potential investors and traders against engaging with AfexEU due to its lack of authorization and potential involvement in fraudulent practices. Investors are strongly advised to heed these warnings and exercise extreme caution to protect their financial interests.
If you’ve been scammed by the AfexEU scam, submit a complaint here.
AfexEU Review: Trading Platform
AfexEU promotes the availability of a web-based trading platform. However, it was not possible to create a new account at the time we were writing this AfexEU review because the website is currently not working. It is important to underline that a trading platform’s presence does not automatically provide the website validity or guarantee that the trading services offered by the alleged broker are real. A lot of scammers use trading software that has been altered to trick victims into thinking that their money is being invested, therefore it’s important to exercise caution when evaluating these platforms.
Trading Accounts and Minimum Deposit Amounts
AfexEU imposes substantial deposit requirements for opening an account with them. The Entry account demands a minimum deposit of $250, the Standard account requires $2,500, the Premium account necessitates a substantial $25,000, and the Gold account entails a staggering $100,000. The VIP account sets an astounding deposit threshold of $250,000.
These demands, emanating from a broker unable to substantiate its credibility or regulation, appear ludicrous, especially when contrasted with legitimate brokers offering Micro accounts with minimum deposits of less than $50.
AfexEU Review: Trading Assets
The website aims to facilitate trading of all main asset types, including cryptocurrencies. This claim provides more evidence that Afex EU is not affiliated with the Financial Conduct Authority since the latter forbids the trading of cryptocurrency derivatives.
AfexEU Review: Payment methods
AfexEU claims to facilitate deposits and withdrawals through bank transfers, credit cards, and well-known e-wallets like PayPal, Skrill, Neteller, and Sofort. However, we faced challenges in verifying these claims. Historical evidence indicates that deceptive brokers often promote conventional payment methods while covertly directing potential victims toward cryptocurrency transactions.
AfexEU Review: Conclusion
If you’ve been a victim of the AfexEU scam, or other scams like forex scams, cryptocurrency scams, binary scams, pet scams, and dating/romance scamsit’s crucial to seek professional assistance in recovering your funds. To begin this process, use our complaint form to set up a free consultation with the Scam Victims Help website. Share the particulars of your case, and our team will assist you throughout the chargeback process.
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