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AssetAce Review – Revealing Deceptive Practices Amid Regulatory Warnings

AssetAce, a self-proclaimed ace in the Forex industry, boasts about offering clients opportunities to maximize profits and skills. Despite the polished appearance of its website, this AssetAce review reveals the fraudulent nature of the scheme and the regulatory warnings associated with this brand.

Unregulated and Blacklisted

While AssetAce indicates its base in the greater Auckland area of New Zealand, legal documents claim registration in Australia. The absence of regulatory licenses from authorities like FMA or ASIC suggests illegal operations. Furthermore, AssetAce is blacklisted by multiple reputable regulators, including ASF, AFM, CONSOB, LB, CBR, FI, and IOSCO. Inquiries with BaFIN, CySEC, FCA, NFA, and FINMA yielded no positive results, reinforcing suspicions of fraudulent activities akin to TradeMarketsPro.

How the Scheme Works

Launched in January 2023, the AssetAce Forex scam targets individuals in Romania, Germany, Italy, and Spain. Boiler room agents engage potential victims, gradually escalating investment requests. This tactic mirrors the modus operandi of fraudulent entities like AE Global Link.

Traders’ Opinions

AssetAce boasts about a high TrustPilot trust score, but the authenticity is questionable. Trustpilot has issued warnings about fake comments, and the inflated 4.2 rating is likely manipulated by review seller networks, tarnishing the company’s reputation.

Are Costs Realistic?

While the spreads on each account suggest affordability, suspicions arise regarding the low commission charges and the “unlimited” leverage, marked as 1:unlimited. The absence of an upper limit on leverage is a concerning practice.

Ineffective Trading Environment

AssetAce’s promises of a high-quality trading environment do not withstand scrutiny. Deliberate obscurity of information aims to lure victims into investments without proper knowledge, and many claimed features are non-functional.

Software Raises Suspicions

The company reveals its trading app, Sirix Station, only after account creation, raising suspicions. While the program is similar to industry-standard options, it gained notoriety due to associations with dubious traders.

Unknown Mobile App

An Android-compatible mobile app named App4World is available on Google Play. However, its limited downloads and unfamiliarity raise concerns about potential malware risks. Traders should opt for brokers providing industry-standard software to avoid security issues.

Fake Account Diversity

AssetAce offers various account types, but the demo account with a $50,000 virtual balance is not readily available. The account costs for speculation range from $150 to $200, mirroring regulated brokers but raising questions about exploitation.

Range of Instruments

AssetAce provides vague descriptions of available financial instruments, lacking detailed insights. Traders are limited to generic information about forex pairs, cryptocurrency CFDs, shares CFDs, metals, energies, and indices.

Flexible Payments? Hardly!

AssetAce’s user area offers credit cards and crypto as payment options. Credit cards are recommended for their chargeback capability, providing transparency. Crypto transfers are less predictable and harder to trace.

Dedicated Support Not Found

Despite featuring a phone number and email for contact, AssetAce lacks a dedicated customer service center. The absence of proper customer support raises concerns about the broker’s commitment to client assistance.

Got Scammed? Get Your Money Back! operates as an illegal forex broker scam, lacking registration and licenses. Placed on multiple global blacklists, it employs deceptive tactics to lure unsuspecting investors. Traders who have engaged with this company are advised to initiate withdrawals promptly. Assistance from experts can aid in the withdrawal process, and victims are encouraged to seek a free consultation through the live chat on the refund experts’ website.

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