AitsFX Broker Review – Scam
Be on the Lookout; AitsFX is an offshore broker; Your investment is at risk.
This AitsFX broker review is for individuals researching information on how to retrieve investments from such scam brokers.
Is AitsFX a legit broker?
AitsFX is an unregulated offshore broker that offers services such as forex, CFD and or binary options trading. The broker is registered in a fiscal haven that lacks the intervention of any investment regulatory process. This means that taking legal action against this forex broker is next to impossible. Read this review to recover your investment from AitsFX.
AitsFX broker relies on a number of tricks to reach their prospects and make them believe that the money they are investing with them is in safe hands and will generate humongous returns. Such tricks include the use of the state of the art websites and apps, with all sorts of attractive trading conditions followed by well-spoken staff and very efficient customer support after signup. This is all smoke and mirrors.
As far as this kind of scheme goes, the AitsFX staff could very well be operating as part of a network of anonymous call centers in undisclosed locations. They could outright lie to you about their location and even their names. In typical investment scams, the staff uses stage names when communicating with the clients to add a layer of anonymity. Using excellent sales skills paired with manipulative psychology techniques, the staff involved in these sophisticated scams will prompt the victims to invest always more money, often beyond what they had planned in an attempt to avoid losing it all. This type of scam is now widespread and used to defraud unsuspecting victims billions of dollars annually.
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AitsFX broker Reviews
A look into AitsFX Reviews on various internet forums will reveal that AitsFX clients have had issues withdrawing their investments and/ or profits. Though the reviews regarding AitsFX have been drawn from various sources, it reveals a similar challenge. AitsFX entices clients into this scam through interesting profits posted to their clients’ trading accounts.
The company even goes to the extent of transferring some of the money back to the clients. Once the clients’ trust is gained, they are prompted to invest more money for much better returns. Once the client has transferred the money, the problems begin.
AitsFX broker will then manipulate the trading platform to create scenarios jeopardizing the clients’ investments. The clients are then prompted by AitsFX Financial Analysts to transfer more money into their accounts to reduce the losses they are facing, often to avoid losing their investments altogether. Immediately after they do this, withdrawing the funds becomes an issue.
How To Get Your Money Back From AitsFX Broker?
There is no easy way to get your money back once you have invested it with AitsFX. AitsFX is structured in such a way that it makes it hard to pinpoint the scam to specific individuals and prove any wrongdoing. AitsFX constitutes a brokers brand that is managed by a chain of shell companies registered in fiscal havens. Building a legal case against the broker would require one to utilize the services of a private investigator to track the money trails and trace it to individuals who could testify of the fraudulent practices of the broker. This does not even factor in the huge legal costs that would be required to institute a civil action in such offshore locations. Such prohibitive costs make it hard for customers of AitsFX to take any action.
However, hope is not lost. There are other means through which investors can recover their funds from AitsFX, without going the civil action route. A number of AitsFX victims have managed to recover their funds by maneuvering the banking legal system. While this method might be unknown to many people, it is possible for an individual to get his or her bank to reverse credit card charges and bank wire transactions in his or her favor. While this is possible, the route has a lot of rules and regulations around such a procedure and it would be wise to hire an expert if you want to recover your money from AitsFX broker.
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More reasons not to trust AitsFX
AitsFX is a forex and CFD broker, which claims to be regulated in the offshore area of Saint Vincent and the Grenadines. In practice, this does not mean much in terms of proper regulation. According to his site, however, the broker has also filed an application with the Financial Conduct Authority (FCA) in the United Kingdom and “awaits further instructions from him”.
The broker is owned by AITSFX Ltd, a company registered in the United Kingdom as a company carrying out combined activities of office administrative services, other publishing software and web portals, in accordance with the Companies House register of the country. Its director is listed as Andrew Ireland.
According to the broker’s website, this is an offshoot of Andy Ireland’s Trade Safe online school, as the Derby Telegraph reveals.
AitsFX is one of the many unregulated offshore brokers that exist outside the forex industry. Looking at its website, trading conditions and lack of regulation, one can’t help but wonder what its real purpose is. The most obvious assumption is that it’s probably a scam, but it doesn’t seem like it is trying too hard.
The lack of regulation, of course, does not necessarily mean that AitsFX is a scam, nor that it is illegal, but until he obtains his FCA license, we suggest that you find another broker. There are thousands and thousands of them, regulated by the FCA, the Cyprus Securities Investment Commission or other European regulators. Many are well regulated, are members of client fund protection regimes, and keep clients’ money in separate accounts. They offer a wide range of assets and a ton of other bells and whistles. Last but not least, they offer much better trading conditions.