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The WikiFX Score of this broker is reduced because of too many complaints!
Askyolo Tech
Hong Kong|2-5 years| Suspicious Regulatory License|Suspicious Scope of Business|Suspicious Overrun|High potential risk|
https://www.askyolo.com/en/index.html
Website
Rating Index
Contact
+855 93834701
services@askyolo.com
https://www.askyolo.com/en/index.html
Rm 1517, 15F Amiata Industrial Building, 58 Lei Muk Road, Kwai Chung, Hong Kong
The WikiFX Score of this broker is reduced because of too many complaints!
Licenses
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
Open Now
Contact number
English
+855 93834701
Broker Information
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Company Name
Askyolo Tech Limited
Company Abbreviation
Askyolo Tech
Platform registered country and region
Hong Kong
Company website
Pyramid scheme complaint
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Check whenever you want
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Warning: Low score, please stay away!
4
Previous Detection :
2024-04-19
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The number of the complaints received by WikiFX have reached 10 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
WikiFX Verification
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Exposure
12 pieces of exposure in total Pyramid scheme complaint
Expose Unable to Withdraw
Unable to withdraw
When you apply for withdrawal, you will be asked to pay tax.
2022-09-19 17:02
Unable to Withdraw
No matter how many times you apply for withdrawal, it will be left
No matter how many times I apply for withdrawal, the procedure does not proceed, so I cancel, apply again, and cancel again. One of these days, I will make an accusation that the account is abnormal, and I will not let you withdraw after all.
2022-08-25 12:56
Unable to Withdraw
Only talking about security deposit without learning
I didn't hear from you at all, so when I contacted you about the withdrawal, I was just talking about the security deposit without learning. I don't understand the reason for paying the security deposit (they say they can't deposit money because there is a problem with my account, but my account is working normally), so I ask how the exchange handles remittances. Completely ignoring this. It's just a one-sided story about the security deposit. Please contact me when you finally feel like paying the security deposit. Please do not do anything other than that. I don't care about the profit anymore, so I want you to return the money I used for the transaction. This deal messed up my life.
2022-10-22 20:04
Unable to Withdraw
I could not log in to the platform without being able to withdraw, and the brokerage company information in MT5 was changed.
Regarding the issue of being unable to withdraw money from Askyolo Tech on September 28th, we have already released it and are waiting for a response, but today, October 13th, we are unable to log in to the platform. Direct email inquiries to customer service have yet to be answered. I also applied to the EPC Center, but unfortunately it reached the upper limit. However, for now MT5 trading is possible, but when I checked the brokerage company information, for some reason it is a server of another company called Fasonla Tech. Withdrawal application was handled as bank transfer on 9/16, 23211$, and on 9/27, USDT was handled as 50000$. So, I don't have any money in the bank or the crypto asset wallet. In addition to negotiating for the correct withdrawal of my funds, please investigate the truth about the securities company.
2022-10-13 06:27
Resolved
I was able to do the first one, but I can't do it from September 9th.
It is meaningless that I can not withdraw because I am a new user
2022-09-13 17:26
Unable to Withdraw
The platform didn't respond to withdrawal requests
On September 26, I applied for withdrawal of 4427$, but the exchange said that it will arrive in your account in 1 to 3 business days from the application, but as of October 3 (5 business days from the application) day) or there is still no payment, so please mediate.
2022-10-03 18:26
Unable to Withdraw
Can't withdraw
I traded from the middle of July to the beginning of September, and I was instructed to withdraw my Forex earnings due to the next transaction, so I tried to withdraw. That's what I'm talking about. Just collect the tax fee, remit it, and wait for the deposit. I was told that there was a problem with my account, so I replied that I could send money if I paid 20% of the funds (investment amount and income total of $102,504.59) as a security deposit. However, since my account is functioning normally, I feel suspicious, and even if the exchange asks what kind of remittance I can't remit, please pay a 20% deposit. In the end, the company name set in mt5 or Askyolo Tech Limited has changed to FasonlaTech, and the CRM cannot be viewed. I don't care about earnings, investment money and taxes. I want it back!! ️
2022-10-15 19:39
Unable to Withdraw
Can't withdraw
After being added to the line group without permission, I opened an account on the group-wide Askyolo exchange, invested funds, and traded. When I reached 75928.90 USD, I applied for a full withdrawal, but the account manager told me that large withdrawals (withdrawals exceeding 200,000 yen) cannot be made unless the number of transactions has reached 30 or more. was broken. Therefore, I made several transactions until the number of transactions reached 30 on the next day. I was told that it was an act suspected of money laundering, and that if I did not pay a security deposit of $37,964.45 (approximately 5 million yen), half of the account funds, the account would be frozen. Currently, the security deposit cannot be paid and the account is frozen. It's a very bad situation because I can't withdraw money. Damage amount (account balance): USD 75928.90
2022-08-28 09:57
Unable to Withdraw
Withdraw
They are listed below. I can't withdraw money. Who was able to withdraw?
2022-09-18 06:16
Resolved
I lost contact with the manager in charge of Japan.
I lost contact with Mr. Ishikawa, the manager in charge of Japan. Currently, the second withdrawal application is delayed. The first withdrawal was smooth. Regarding the delayed second withdrawal application, I have directly contacted Askyolo Tech's customer support email and am waiting for a reply.
2022-09-22 11:37
Unable to Withdraw
Require tax to withdraw
I deposited a total of 13,444.62$ into my Askyolo Tech account from 8/8 to 9/14, connected to MT5 and earned 111,544.01$ by trading on 9/28. On September 22, I applied for withdrawal of 23211$ by Japanese yen bank transfer and on September 27th withdraw 50000$ in USDT, but it is still pending on the platform. Mr. Ishikawa, the Japanese manager of Askyolo Tech, who had been out of touch for several days, contacted me and told me that I could not withdraw money unless I paid the tax in advance, but what he said was very unnatural in terms of tax law. The first withdrawal of 350$ was able to withdraw smoothly with the prescribed operation on the platform. Also, I emailed Askyolo Teck's customer support regarding this matter, but I have not received a reply. Please negotiate so that my funds can be withdrawn smoothly.
2022-09-28 22:09
Unable to Withdraw
Only at the beginning, I was relieved according to the withdrawal application, but when the balance increased, it was suddenly frozen without notice.
I first deposited $1000 and started trading on MT5. $94 first profit. After that, I withdrew $500 after profiting around $240 twice. Since it was my first time withdrawing, I made a withdrawal with the intention of confirming the increase in funds if I could withdraw. Because it was my first time, I was able to pull it out easily. The money was deposited into the specified bank account. I was able to confirm that I could withdraw, so I increased the amount by $6,000. After three weeks of trading, my balance exceeded $30,000. Then I applied for withdrawal of $650. I couldn't withdraw money because my account was abnormal. It was a reason why I couldn't convince myself that it was useless because the number of transactions was small. After 3 days, it was frozen and told me to pay 3 million yen as a security deposit. I didn't think that it would be frozen in about a month from the transaction, so I'm worried about being scammed. Right now, it's frozen, so I can't trade or withdraw, and I don't have any money. Help me.
2022-09-26 21:02
Askyolo Tech · Company Summary
| Aspect | Information |
| Registered Country/Area | Hong Kong |
| Founded Year | 1-2 years |
| Company Name | Askyolo Tech Limited |
| Regulation | Suspicious Regulatory License |
| Minimum Deposit | Not specified |
| Maximum Leverage | Not specified |
| Spreads | Not specified |
| Trading Platforms | Mobile app (available on Google Play and the App Store) |
| Tradable Assets | Currency pairs, options, precious metals, forex and CFD instruments |
| Account Types | Not specified |
| Customer Support | Phone: +855 93834701, Email: services@askyolo.com |
| Payment Methods | Not specified |
General Information
Registered in the United Kingdom, Askyolo Tech is a financial service provider offering Forex, Options, and Precious Metals. Askyolo Tech, based in Hong Kong, is a broker that has raised suspicion due to various factors. It is not regulated by any valid regulatory authority, which raises concerns about the lack of oversight and protection for clients. Additionally, there have been multiple complaints filed against Askyolo Tech on WikiFX, suggesting the possibility of a scam or fraudulent activities. The claim of being regulated by the United States National Futures Association (NFA) with license number 0549987 is also suspected to be a clone or fraudulent.
It is important to note that Askyolo Tech lacks a trading software, which further adds to the potential risks involved. The broker offers a mobile app for trading, but it does not provide the widely recognized and popular MetaTrader 4 (MT4) or MetaTrader 5 (MT5) trading platforms. This limitation may restrict traders in terms of advanced trading tools, customization options, and access to a broader range of financial instruments.
Traders should exercise caution and consider the associated risks before engaging with Askyolo Tech. The broker offers a range of market instruments, including currency pairs, options, precious metals, and forex and CFD instruments. However, the lack of regulation, numerous complaints, and limited trading platform options raise concerns about the overall legitimacy and reliability of Askyolo Tech as a broker.
Pros and Cons
Askyolo Tech raises several concerns and potential risks. The broker lacks valid regulation, increasing the likelihood of fraudulent activities. Additionally, numerous complaints have been filed against Askyolo Tech within the past three months, indicating a high potential for scams. The claim of being regulated by the United States National Futures Association (NFA) is suspected to be a clone or fraudulent. Furthermore, Askyolo Tech does not currently have a trading software, further adding to the potential risks involved. These factors should be carefully considered before engaging with this broker.
| Pros | Cons |
| Enables trading of a wide range of currency pairs | Lack of valid regulation |
| Offers options trading opportunities | Numerous complaints filed within three months |
| Allows trading of precious metals | Suspected clone or fraudulent claims |
| Provides forex and CFD instruments | Absence of a trading software |
| Offers a mobile app for trading | Restricted regions for trading |
| Dissatisfaction with withdrawals and responsiveness |
Is Askyolo Tech safe to trade with？
As of the latest information available, Askyolo Tech does not appear to be regulated by any valid regulatory authority. This lack of regulation poses a risk, and it is advisable to exercise caution when dealing with this broker.
There have been 10 complaints filed against Askyolo Tech on WikiFX in the past three months, indicating potential risks and the possibility of a scam. Additionally, the claim of being regulated by the United States National Futures Association (NFA) with license number 0549987 is suspected to be a clone or fraudulent.
It is important to note that Askyolo Tech does not currently have a trading software, which further adds to the potential risks involved.
Market Instruments
Askyolo Tech advertises that it offers clients opportunity to trade with 130 forex and CFD instruments, including currency pairs, options and precious metals.
CURRENCY PAIRS: Askyolo Tech provides clients with the ability to trade a wide range of currency pairs. This includes major currency pairs such as EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic currency pairs. Currency pairs allow traders to speculate on the exchange rate movements between two different currencies.
OPTIONS: Askyolo Tech also offers options trading as part of its market instruments. Options are financial derivatives that give traders the right, but not the obligation, to buy or sell an underlying asset at a predetermined price within a specific timeframe. Options trading can provide traders with opportunities to profit from price movements in various assets, including stocks, indices, and commodities.
PRECIOUS METALS: Askyolo Tech enables clients to trade precious metals such as gold, silver, platinum, and palladium. Trading precious metals can be appealing to investors as they are often considered as safe-haven assets and can serve as a hedge against inflation or economic uncertainty. Precious metals trading allows investors to speculate on the price movements of these valuable commodities.
FOREX AND CFD INSTRUMENTS: Askyolo Tech offers a range of forex and Contract for Difference (CFD) instruments. Forex trading involves the buying and selling of currencies in the foreign exchange market. CFDs, on the other hand, are derivative products that allow traders to speculate on the price movements of various financial assets without actually owning the underlying asset. Askyolo Tech's forex and CFD instruments may include commodities, indices, stocks, and cryptocurrencies, providing clients with a diverse range of trading opportunities.
| Pros | Cons |
| Wide range of currency pairs for trading | Potential risks associated with trading activities |
| Opportunities for options trading | Lack of specific details on trading conditions |
| Access to trading precious metals | Possibility of price volatility in commodity markets |
| Diverse range of forex and CFD instruments | Potential risks in speculative trading |
| Possibility to engage in various trading strategies | Lack of guarantees for profit or successful trading |
| Potential to profit from price movements in global markets | Requirement for thorough research and risk assessment |
How to open an account with Askyolo Tech？
Three straightforward steps for you to open an account with Askyolo Tech:
1. Click the “Register” link on the homepage of Askyolo Tech website, then fill out the application form.
2. Submit your personal documents for this brokers verification.
3. After approval, depositing your trading account and start to trade.
Spreads & Commissions
Askyolo Tech hypes that it offers competitive spreads with no commission charged. However, it does not specify spread on particular instruments.
Trading Platform
Askyolo Tech provides a mobile app for trading, which is available for download on both Google Play and the App Store. However, it is important to note that the broker does not offer the industry leading MetaTrader 4 (MT4) or MetaTrader 5 (MT5) trading platforms.
The mobile app provided by Askyolo Tech serves as the primary means for clients to access the trading services offered by the broker. The app likely includes basic functionalities such as the ability to view account information, monitor market prices, place trades, and manage positions.
While the specific features and capabilities of the mobile app are not detailed, it is important to assess whether the app meets your individual trading needs and preferences. It is advisable to thoroughly research and consider the functionality, user interface, reliability, and security aspects of the mobile app before engaging in any trading activities.
It's worth noting that without the availability of the widely recognized and popular MT4 or MT5 trading platforms, some traders may feel limited in terms of advanced trading tools, customization options, and access to a broader range of financial instruments.
| Pros | Cons |
| Provides a mobile app for trading | Does not offer industry-leading MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms |
| Enables monitoring of market prices and managing positions | Limited in terms of advanced trading tools and customization options |
| Lack of access to a broader range of financial instruments |
Reviews
Based on the reviews on WikiFX, customers have reported several issues and frustrations with Askyolo Tech. Users have expressed their inability to withdraw funds, with some mentioning that the platform only talks about security deposits without addressing their withdrawal concerns. There are instances where customers have been unable to log in to the platform or where the brokerage company information has changed unexpectedly. Some users have also mentioned that withdrawal requests were not responded to or were delayed, and there have been complaints about being asked to pay taxes or security deposits before being able to withdraw. Overall, these reviews highlight customers' dissatisfaction with their experiences with Askyolo Tech, including difficulties with withdrawals and lack of responsiveness from the company.
Customer Support
Askyolo Tech offers customer support services to assist traders with their inquiries and issues related to their accounts and trading activities. Traders have the option to contact Askyolo Tech through different channels. They can reach the customer support team by phone at +855 93834701 or send an email to services@askyolo.com.
Askyolo Tech's registered office is located at Room 1517, 15F Amiata Industrial Building, 58 Lei Muk Road, Kwai Chung. These contact details provide traders with the means to get in touch with the company's customer support team.
Telephone: +855 93834701
Email: services@askyolo.com
Registered Office: Room 1517,15F Amiata Industrial Building,58 Lei Muk Road,Kwai Chung .
Restricted Regions
Askyolo Tech has specific restrictions in place regarding the regions from which it accepts traders. It should be noted that individuals from the United States, Canada, the United Kingdom, Germany, Italy, and France are not able to trade with Askyolo Tech.
These restricted regions likely have their own regulations and requirements for financial services providers, and Askyolo Tech may not be compliant with these jurisdictions. Therefore, residents or citizens of these countries should seek alternative options for their trading activities.
Conclusion
In conclusion, Askyolo Tech raises several concerns and potential risks. The broker lacks valid regulation from any recognized regulatory authority, which should be a cause for caution when considering their services. Additionally, there have been numerous complaints filed against Askyolo Tech on WikiFX, indicating possible scam activity. The claim of being regulated by the United States National Futures Association (NFA) with a license number is suspicious and suspected to be fraudulent. Moreover, the absence of a trading software further adds to the potential risks involved. While Askyolo Tech offers a range of market instruments, including currency pairs, options, precious metals, forex, and CFD instruments, traders should carefully evaluate the associated risks and conduct thorough research before engaging in any trading activities. The limited availability of advanced trading platforms and the restrictions on certain regions further limit the options for potential traders. Lastly, customer reviews highlight issues with fund withdrawals, unresponsiveness, and unexpected changes in company information, reflecting customers' dissatisfaction with their experiences.
Risk Warning
There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.
The information presented in this article is intended solely for reference purposes.
FAQs
Q: Is Askyolo Tech a legitimate broker？
A: Askyolo Tech lacks valid regulation, posing risks and requiring caution.
Q: Why is Askyolo Tech's WikiFX Score low？
A: Numerous complaints and suspicious regulatory claims contribute to the low score.
Q: What market instruments does Askyolo Tech offer？
A: Askyolo Tech offers currency pairs, options, precious metals, and forex/CFD instruments.
Q: What trading platforms are available at Askyolo Tech？
A: Askyolo Tech provides a mobile app but lacks popular platforms like MT4 or MT5.
Q: Are there any trading restrictions with Askyolo Tech？
A: Yes, residents of certain countries, including the US, Canada, UK, Germany, Italy, and France, cannot trade with Askyolo Tech.
Q: How can I contact Askyolo Tech's customer support？
A: Contact customer support via phone (+855 93834701) or email (services@askyolo.com).
Q: What are common customer complaints about Askyolo Tech？
A: Customer complaints include withdrawal issues, login problems, unexpected changes, delayed responses, and requests for additional payments.
User Reviews
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User comment
7
CommentsWrite a review
Countryside
more than one year
Just sharing my experience with Askyolo Tech. They offer a good variety of trading options – currencies, options, and precious metals. The mobile app is handy for quick trades.
2023-12-11 18:28
Haidiep Investos
more than one year
I really hope this scam company can be brought to justice as soon as possible! There are so many scammers in the forex industry and they are so rampant in defrauding innocent traders of their money.
2023-02-23 11:39IT2434
more than one year
Exchanges that can only be contacted via LINE are fraudulent Exchanges will not contact you via LINE
2022-11-15 03:04IT2434
more than one year
It's completely fraudulent! The person claiming to be the manager of this exchange is now doing the same thing under the name of Tatsuo Kobayashi. Regarding this fraud group, I plan to file a criminal case tomorrow.
2022-11-13 18:24
demon123456
more than one year
Noriaki Ishikawa may be. I want you to be careful. Satisfaction rating is zero.
2022-10-25 14:35demon123456
more than one year
I am the same Why do you need a security deposit? Satisfaction rating is zero.
2022-10-23 17:09
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