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The WikiFX Score of this broker is reduced because of too many complaints!

ASJ Forex

United Kingdom|2-5 years|
Suspicious Regulatory License|MT4/5 full license|High potential risk|

https://www.asjfx.co/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

1
Server Name
ASJForexGlobalLimited-Live MT5
Server Location Hong Kong

Contact

market@asjfx.co
https://www.asjfx.co/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

MY SCM
2022-01-01

Broker Information

More

Company Name

ASJ Forex Global Limited

Company Abbreviation

ASJ Forex

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-03-29
  • 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 14 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Pyramid scheme complaint
Expose
Scam

Ponzi Scheme

1) ASJ establishes a small team in the division, invites people, and adopts the "team pyramid" reward mechanism 2) Sends "daily trading orders" in the phone group 3) The foreign exchange chart in MT5 is "EURUSD." There is an additional one after the name Small dots, not real "EURUSD". 4) So whenever the trading order and the trend of the real world are in the opposite direction, they will adjust their foreign exchange chart in those 5 minutes, so that members continue to profit. In this way, the members have the illusion of being led by god-level analysts, build confidence, and continue to call on friends and family to join the game.

2022-05-07 23:36
Others

Account was frozen for no reason.

The ASJ company suddenly suspended my account on 4/5/2022, so that I can't trade and can't log in to the ASJ account. The funds in it are also frozen and cannot be withdrawn. This is very unusual.. The email it sent said My account is used for illegal transactions, the fact is no, I am trading normally, and I am not the only one in this situation, my offline and my online are all blocked, ask the customer service to give me The reason is "Hello, because your superiors are suspected of using our company's platform rules to gain illegitimate benefits, your entire online account has been frozen. It will be handed over to the supervisory authority for inspection, and the account will be opened if the supervisory authority checks correctly." But I can't give an exact deadline when it will be checked, and if there is a problem with the superior members, why should we be blocked if we connect to the innocent? I don't understand, please help to complain about my account is frozen... My account number is 3706460

2022-05-06 23:46
Scam

Ponzi Scheme

1) ASJ establishes a small team in the division, invites people, and adopts the "team pyramid" reward mechanism 2) Sends "daily trading orders" in the phone group 3) The foreign exchange chart in MT5 is "EURUSD." There is an additional one after the name Small dots, not real "EURUSD". 4) So whenever the trading order and the trend of the real world are in the opposite direction, they will adjust their foreign exchange chart in those 5 minutes, so that members continue to profit. In this way, the members have the illusion of being led by god-level analysts, build confidence, and continue to call on friends and family to join the game.

2022-05-07 19:29
Unable to withdraw

asj forex global trading scam this stop my widhwra

asj forex global trading company scam with me this stop my widhwral request$10107 dollar inside my account amount and my deaily commission $1030 dollar when I submit widhwral request this customer service stop my widhwral and said me your superior reported on my account I ask why my superior reported on my account then not reply me after days find new scam topic then when I ask why report in my account and why you stop widhwral he said your Pakistani so Pakistan country banned I ask AGAIN if Pakistani country banned then since join Dec until may 2022 why my account can trading that time why not inform me why my downline people can join can open trading account and I just tell only my superior I am a Pakistani but if this real customer service and real broker then why he not check my nastinolty Malaysia I select in option this mean this is totally scam and again when I ask tell me reason given me any proof why stop my widhwral again customer service start doing Drama he said your account go invistigaion I ask witch kind of invistigaion then again not reply me not answer my question my superior and customer service same words same line how can this ?

2022-06-07 10:37

    ASJ Forex · Company Summary

    Note: ASJ Forexs official site - https://www.asjfx.co/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    General Information

    ASJ Forex Review Summary in 10 Points
    Founded 2-5 years
    Registered Country/Region United Kingdom
    Regulation Not regulated
    Market Instruments Forex
    Demo Account Not Available
    Leverage Up to 1:300
    EUR/USD Spread Not disclosed
    Trading Platforms MT5
    Minimum Deposit USD 30
    Customer Support Email

    What is ASJ Forex?

    ASJ Forex is a global brokerage firm based in the United Kingdom that offers Forex as market instruments to traders. However, it is important to note ASJ Forex is currently not regulated by any recognized financial authorities which raises concerns when trading.

    In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

    Pros & Cons

    Pros Cons
    • MT5 trading platform • Not regulated
    • Low minimum deposit • Referral code is requested when opening accounts
    • Multiple payment methods supported • Many negative reviews from their clients
    • Website unfunctional
    • Lack of transparency
    Only email support

    ASJ Forex Alternative Brokers

    There are many alternative brokers to ASJ Forex depending on the specific needs and preferences of the trader. Some popular options include:

    • OctaFX - OctaFX is a reliable and user-friendly forex broker with competitive trading conditions, making it a suitable choice for traders seeking a seamless trading experience.

    • Darwinex- Darwinex is a unique social trading platform that allows traders to turn their strategies into investable assets, providing an excellent opportunity for both skilled traders and investors looking to diversify their portfolios.

    • FXCM- FXCM is a well-established and reputable forex broker that offers a wide range of trading instruments, competitive spreads, and reliable execution, making it a suitable choice for traders of all levels.

    Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

    Is ASJ Forex Safe or Scam?

    When considering the safety of a brokerage like ASJ Forex or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

    • Regulatory sight: It is not regulated by any major financial authorities, which means that there is no guarantee that it is a safe platform to trade with.

    • User feedback: Total 17 pieces of exposures on WikiFX of unable to withdraw, scam, fraud and account suspend are serious red flags that cannot be overlooked, immediate attention and caution in any financial dealings with this broker is suggested when traders consider trading.

    Ultimately, the decision of whether or not to trade with ASJ Forex is a personal one. You should weigh the risks and benefits carefully before making a decision.

    Market Instruments

    ASJ Forex provides forex trading services to its clients, offering a comprehensive and diverse range of currency pairs to trade. With a focus on the foreign exchange market, ASJ Forex provides access to major, minor, and exotic currency pairs, accommodating the diverse preferences and trading strategies of its clients. The platform is said to be equipped with advanced trading tools and technology, enabling traders to execute trades with precision and efficiency.

    Accounts

    ASJ Forex's account types and their specific features are not publicly disclosed on the internet. However, it is mentioned that the minimum deposit required to open an account is $30. The process of account registration appears to be a bit unique, as traders are required to have a referral code from the broker to gain access to their client area and obtain the necessary information to access their MT5 terminal. This requirement may suggest that ASJ Forex may operate on an invitation or referral basis, which might be intended to ensure a more personalized and secure onboarding process for their clients. Traders interested in opening an account with ASJ Forex are advised to reach out to the broker directly for more details of initiating the account opening process and access their trading services and features. Moreover, traders should exercise caution and conduct thorough research before considering opening an account with the broker, as the lack of public information about their account types and the requirement for a referral code to access their client area and MT5 terminal raise concerns about transparency and accessibility of their services.

    referral code is required

    Leverage

    ASJ Forex offers a leverage up to 1:300 for their trading accounts. Leverage is a powerful tool that allows traders to control a larger position in the market with a relatively smaller initial investment. With a leverage ratio of 1:100, traders can amplify their potential profits, as well as their risks, significantly. Traders who are experienced and have a solid understanding of risk management may opt for higher leverage to enhance their trading opportunities. However, it is crucial to approach leverage with caution and consider individual risk tolerance, as higher leverage also increases the potential risk.

    Trading Platforms

    ASJ Forex provides traders with access to the widely acclaimed MetaTrader 5 (MT5) trading platform, a versatile and robust platform known for its advanced features and capabilities. With MT5, traders can access a diverse range of financial instruments, including forex, stocks, commodities, and indices, expanding their trading opportunities beyond just forex. The platform offers sophisticated charting tools, technical indicators, and analysis capabilities to aid traders in making well-informed decisions. Additionally, MT5 allows for automated trading through Expert Advisors (EAs), enabling traders to execute strategies even in their absence. However, traders should be aware that the effectiveness of the platform depends on various factors, including internet connectivity and server stability. While MT5 is widely popular, traders should assess their individual trading needs and preferences before deciding on a platform.

    MT5

    Overall, ASJ Forexs trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

    Broker Trading Platforms
    ASJ Forex MT5
    OctaFX MT4
    Darwinex MT4/5
    FXCM MT4

    Deposits & Withdrawals

    It‘s said as per ASJ Forex’s FAQ section, the broker provides multiple payment options including UnionPay, telegraphic transfer, e-wallets, local bank transfer, digital currency, and other payment methods. While the broker outlines the available payment methods, specific details regarding withdrawal procedures and related fees are not elaborated upon in the FAQ section. As such, traders are encouraged to exercise due diligence and directly communicate with ASJ Forex to obtain comprehensive information regarding withdrawal processes, fees, and any other relevant details. Being well-informed about withdrawal options and potential fees is crucial for traders to effectively manage their funds and make informed decisions when engaging with ASJ Forex's services.

    User Exposure on WikiFX

    Encountering a total of 17 pieces of exposures on WikiFX, most related to difficulties in withdrawing funds, and some scam, fraud, account suspend and system cases, these serve as an alarming signal that cannot be ignored when considering this particular broker. These serious red flags are indicative of potential risks and malpractices within the company's operations. Traders and investors must exercise extreme caution and conduct thorough due diligence before engaging with the broker. The documented instances of scams and withdrawal issues on WikiFX raise significant concerns about the broker's reliability and credibility. It is essential for individuals to prioritize their financial security and seek out brokers with transparent and trustworthy track records to safeguard their investments and avoid potential pitfalls. If you find such fraudulent brokers or have been a victim of one as well, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

    User Exposure on WikiFX

    Customer Service

    ASJ Forex only provides email as customer support. This means that you can only contact the broker by sending an email to their support address. There is no phone number or live chat option available.

    Some traders may find this to be a limitation, as it can be difficult to get a quick response by email.

    Email:market@asjfx.co.

    Conclusion

    According to available information, ASJ Forex is a non-regulated United Kingdom -based brokerage firm. While the firm offers Forex as market instruments, it is important to consider certain factors such as lack of regulations and transparency that may raise concerns. It is critical that potential clients exercise caution, conduct thorough research and seek up-to-date information directly from ASJ Forex before making any investment decisions.

    Frequently Asked Questions (FAQs)

    Q 1: Is ASJ Forex regulated?
    A 1: No. It has been verified that this broker currently has no valid regulation.
    Q 2: Does ASJ Forex offer the industry leading MT4 & MT5?
    A 2: Yes, it offers MT4 platform.
    Q 3: Is ASJ Forex a good broker for beginners?
    A3: No. It is not a good choice for beginners because it is not properly regulated and theres reports of scam, unable to withdraw on WikiFX.
    Q 4: Does ASJ Forex offer demo accounts?
    A 4: No.
    Q 5: What is the minimum deposit for ASJ Forex?
    A 5: The minimum initial deposit to open an account is $ 30.

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    User Reviews

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    Savdu
    more than one year
    I lost all the points I gained by transferring funds from one account to another. It's so frustrating and sounds absurd. They say it's politics. Sounds dumb to me.
    2024-03-25 01:13
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    Zrakar
    more than one year
    ASJ Forex? Not a good broker, in my opinion. The spreads are too wide, meaning it costs more to make a trade than it should. Every time I tried to trade, I felt like I was losing money right from the start because of how much they charge. And the trading signals they gave were terrible. I followed a few, hoping to make some good trades, but it just led to more losses. It was like their advice was all wrong, and it didn't help me at all.
    2024-03-08 15:08
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