AbSystem.Trade

The only pat on the back of AbSystem.Trade is a direct result of its website design. The truth is that we actually enjoyed the feel and design of the website, even if, ultimately, it contained false and misleading information. We find the broker to be a waste. It has thrown away a perfectly good design idea in favor of a scammer experience that any user who enters it will regret it sooner or later.

We honestly tried to look for any information concerning a license or a registration, but our efforts were all in vain. At some point, we came to the realization that AbSystem.Trade is actually completely anonymous. There was no reveal on the website placing the broker somewhere or even giving it some sort of license.

We don't know what compelled AbSystem.Trade not to include any information, even false details would have sufficed. But no, AbSystem.Trade is completely anonymous.

By now, we have reviewed enough brokers to know that the anonymous ones are the most notoriously dangerous ones. These types of brokers cannot be traced, unless you specialize in tracking software, and therefore all anonymous brokers are by default scams! It goes without saying that AbSystem.Trade is also not regulated. All investments here are at a complete risk, and all personal details provided to the firm may be used against the user.

Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

After a very simple and easy registration, we were immediately referred to the deposit section in the user area. AbSystem.Trade pushes for a deposit early on, revealing just how eager it is to take your money. Many unlicensed brokers proceed in such a way, and it showcases that they care only for investments.

We found a way to access the web trader, however, we found out that the EUR/USD cost of trade is fixated on 3 pips, which is not lucrative to traders in no way; in fact, only the broker can profit from such a spread. The software allows users to trade with forex currency pairs, commodities, cryptocurrencies, indices, and shares. The leverage value was capped at 1:100

ABSYSTEM LOGIN

The following trading software is a popular one among scammer brokers, and there is a very good reason for this. For one, the platform looks rather good, and there are a couple of useful elements here, like a live news feed, pending orders, price alerts, and a couple of other features.

The issue is that these options are not enough to retain anyone, for at some point any rookie user will want more out of his or her trading experience. And unfortunately, the terminal will not be able to deliver.

ABSYSTEM MINIMUM DEPOSIT

AbSystem.Trade is not worth the risk of investing. This broker will use all invested funds to further its own selfish needs.

The client area disclosed that clients can invest only through a big range of crypto wallets. We want to remind our readers that crypto wallet-based payments are untraceable with unlicensed brokers, making these payment methods a favorite for scammers.

According to the website, the minimum deposit is $500

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

ABSYSTEM WITHDRAW TIME AND FEES

We have evidence to believe that withdrawing from this broker will be close to impossible. Users should not have invested in the first place.

From the client portal, we learn that all withdrawals take up to 24 hours to process, which is actually very good.

But this was the only good news, perhaps in the entire review. There are no further details on withdrawals and no mentions of fees. However, even if there are no fees revealed, that does not mean that there are no fees whatsoever. Usually, scammer brokers hide these and launch them without warning.

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

To invest in AbSystem.Trade is to lose money. There is no way around this fact. Please do not waste your money with this unlicensed broker.