Looking for a broker to invest your money with can be a daunting task. And unfortunately, there are some unscrupulous companies out there looking to take advantage of unsuspecting investors. AiFxMarkets is one such company, and in this review, we’ll examine why you should bypass this potential scam.
- AiFxMarkets General Information
- Registration and Client Portal Review
- AiFxMarkets Trading Conditions
- Account Types Review
- Trading Platform
- AiFxMarkets — Deposit and Withdrawal of Funds
- Additional Options
- Is AiFxMarkets a Scam?
- Legal Information and License
- AiFxMarkets Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
AiFxMarkets General Information
|Phone Number||+41 445087121|
|Address||Hermetschloostrasse 77, Zürich, Switzerland, 8048|
Registration and Client Portal Review
The broker’s official website is very simple and generic. It is lacking in any unique or interesting features. The design is strange, with constellations in the background. This may distract users from the actual content. Additionally, the website’s layout and features are quite standard and don’t stand out from other brokers. Besides, this platform looks like it was made with just a few dollars, nothing more. The only useful things on it are the account descriptions and economic calendar.
The registration process for AiFxMarkets is very simple and straightforward. You don’t even need to verify your email or password. While this may seem convenient at first, it’s actually a major red flag. Proper security measures are necessary to protect your personal and financial information. By skipping these steps, the broker is putting you at risk for potential security breaches and fraudulent activities. It’s important to always be cautious and vigilant regarding sharing sensitive information online.
The Client Portal of AiFxMarkets is a real disappointment. After registration, you will be redirected to the deposit page. It seems that the broker’s creators are very eager for your money. After all, you can top up your account right after registration. Additionally, in the Client Portal, you can change account settings, withdraw funds, and upload documents.
AiFxMarkets Trading Conditions
To determine how good a broker is, we should carefully analyze its trading conditions.
Account Types Review
AiFxMarkets offers only four trading accounts, all of which supposedly provide the same excellent service. However, the beginner accounts do not offer any additional services at all, except for a phone call from a manager and a 30% bonus upon registration. On other accounts, the bonuses are much higher.
Also, additional services, such as analytics from Trading Central, exclusive trading strategies, and others, are provided. The leverage also increases from account to account, with a maximum of 1:500 for premium clients. This indicates that the broker does not route your trades to the interbank market. We cannot say it’s a good thing because it could lead to issues with liquidity and slippage.
The trading platform of AiFxMarkets is a real disappointment. First, it’s important to mention that it only exists in the web version, which is a huge downside compared to other brokers who provide a downloadable platform. Moreover, the lack of indicators is noticeable. It’s difficult to carry out a technical analysis because there are no tools to help you out. What’s more concerning is that the platform is developed by an unknown third-party one, which raises doubts about the security and reliability of the software.
AiFxMarkets — Deposit and Withdrawal of Funds
The account on this platform can only be funded with a credit card or cryptocurrency. This is not ideal because it limits the options for clients who may prefer to use alternative payment methods such as bank transfers or e-wallets. Additionally, credit card transactions may be subject to high fees or interest rates. Unfortunately, AiFxMarkets doesn’t disclose commission sizes. Cryptocurrency can also be volatile. This can pose a risk for clients who may not be familiar with that type of asset.
The verification process at AiFxMarkets is quite standard. To start, you need to submit a copy of your passport or other government-issued ID, and a utility bill or bank statement to confirm your address. The documents can be uploaded directly through the broker’s website, and the verification process usually takes around 1-2 business days. Once your identity has been verified, you will be able to withdraw funds from your trading account.
AiFxMarkets offers additional services such as analytics and education, but their quality is highly questionable. We have not seen any market forecasts available in the public domain. So we cannot say for sure what kind of analytics they provide. Moreover, it is worth noting the bonuses they offer. This may seem like a good thing. However, bonuses often come with strict conditions that can be difficult to meet. Besides, they may prevent traders from withdrawing their profits until certain requirements are met. Besides, relying on bonuses to attract clients can be seen as a dubious thing. So, it suggests that AiFxMarkets may be more interested in acquiring new clients than in providing quality services.
Is AiFxMarkets a Scam?
We have seen a variety of reviews about this company. To finally understand the situation, we will conduct our own investigation.
Legal Information and License
The broker does not provide any legal information at all. There is not even a client agreement on this platform. And there are no mentions of the company name and where it is registered, except for a Swiss address in the contacts. However, it is very doubtful that this broker is really operating in Switzerland. First, Swiss brokers never provide such high leverage. Second, we checked the Swiss registry and did not find AiFxMarkets listed there. So, this company simply does not exist officially, and of course, it does not have a license.
AiFxMarkets Domain Info
It’s not just documenting issues that raise red flags. Take a look at how long this broker has been operating! Domain verification showed that it was registered on February 22, 2023! And yet this broker is claiming exceptionalism and industry leadership. It’s laughable, to say the least.
AiFxMarkets provides a phone number, email, and physical address for contact. However, since we have determined that the company is not actually Swiss, do not expect to meet with managers in person. There is no physical office for this broker at the provided address.
Pros and Cons
- None found.
- Lack of regulation.
- No official registration.
- No transparency regarding the ownership and location of the company.
- Limited payment options.
- Dubious bonus offers.
- Lack of proper documentation.
- The short existence of the company.
Frequently Asked Questions (FAQ)
AiFxMarkets to trade CFDs in forex, commodities, and cryptocurrencies.
The minimum deposit required to start trading with this broker starts from $250 and may vary depending on the account type.
No, AiFxMarkets appears to be a scam and is not safe to use for trading.