Table of contents
AndersFX.com is nothing more than a lying and thieving entity that will swindle its way to your money. Read the review and see why you shouldn't trust it.
The terms and conditions were the only source of any kind or regulatory and registration news. The first thing we learn there is that the user has to make sure his or her is applicable for the services of the broker. This is very misleading information, and is one of the most common saying by illegal brokers. The user shouldn't pay any attention to it. The broker is the one to be regulated, and not its clients.
The next thing that we learn is another popular assertion issued by scams- that the broker-user relationship is governed by the laws of Estonia. We assure you that this is also a false alarm. The broker is neither regulated in Estonia (where many legit FX brokers are) nor is it registered there.
Last but not least, the broker is officially flagged by the FCA, a regulator that does not kid around. The British watchdog is a respected entity, and its word is law, especially when scammer brokers are considered.
AndersFX.com is not regulated, and is a risk to all investments.
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).
We had no trouble creating an account. The registration was easy, and the result was a very unimpressive user area, which blended with the site, fiving it a couple of extra subpages. This is a very lazy ordeal, clearly stating that the broker has not bother with delivering a professional-looking area.
However, the good news is that there is a ready web trader, from which we were able to access the needed trading conditions. From the web trader we read that the EUR/USD spread is at 2 pips, while the leverage cap given to us is 1:100. The available trading assets are forex currency pairs, cryptocurrencies, commodities, indices, stocks, and futures.
Although there is a thing or two to spend your time on, the platform is still lackluster in the context of the modern FX industry. When you compare this one to the MT4 or lesser platform, the differences in volume will start appearing.
Moreover, the broker is unregulated, and therefore there is no incentive for investing in it. Do not fall for the looks; unlicensed brokers tend to rely on the visuals of poor softwares to attract a certain audience.
ANDERSFX.COM MINIMUM DEPOSIT
We came to realize that there was no clear depositing section in the user area. Perhaps we could have looked better, but we spent a good five minutes browsing through the portal, and found no way to invest. Perhaps the broker expected us to provide supporting documents? We cannot be sure.
What we do know, is that all the payment details will have to be taken from the website.
And so, we learn that the minimum deposit is, without exaggerating, $25 000. Who in their right mind would invest such a high deposit in a broker looking like AndersFX.com looks like? Even if AndersFX.com is after whale investors, these folk are pros and will never fall for this scam. The broker wrote its own death sentence.
The alleged payment methods are cards and bank transfer, although nothing supports this.
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.
ANDERSFX.COM WITHDRAW METHODS AND FEES
We would like to put it here that withdrawals with unlicensed brokers rarely happen; the company will not allow it.
We couldn't even access the withdrawal area, which to us seems like the doings of a scam. We are told that the client will have to invest before accessing the withdrawal area, but what guarantee do we have that users will be able to apply for a withdrawal? None whatsoever.
Legit broker have their website stored with withdrawal details, but not AndersFX.com. This broker has no withdrawal details, and if you ever needed one more reason to mistrust the company, this is it.
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 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!
Do not waste your breath on this scam! This broker is a risk to all!
AndersFX.com compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines