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There is no mistaking Ascfm, also known as Alfa Success Corp, from what it really is. Not only that, but the broker does not really hide this side of itself all too well, which means that anyone with a good eye for details will immediately notice that something is definitely off with this firm. Read the review to find out what it is.
The parent company of the broker is said to be registered in the British Virgin Islands. This jurisdiction is known in the FX community as not having an FX regulator, and so all brokers there are essentially unregulated. Actually, a firm in the British Virgin Islands can only be registered as an International Business Company which isn't really anything.
We even came across an NFA certificate that seemed to be forged and fake. And it is. The NFA is one of two US-baed FX regulators. There is no information on the site of the NFA that it licenses Ascfm.
We can easily come to the conclusion that Ascfm is not licensed and is, therefore, a risk.
After a very easy registration, we entered a user area and were genuinely surprised to find a fully-functioning MT4 platform.
We opened a demo MT4 account, and this is what we got from it. The leverage was capped at 1:100; the cost of trade was around 2.8-2.9 pips for the EUR/USD currency pair. The available trading instruments were disappointingly low: forex pairs, silver, and gold. However, it's a demo account, not a live one so there may be other assets available only to live users.
What we have here is the full version of the MT4 available to users. Yet, we had no clear way of accessing the live account version of the platform.
Nevertheless, the MT4 is here, and we find it curious that such a lackluster broker was able and willing to acquire this superb trading software.
Yet, Ascfm still remains a risk and not even the MT4 can save it there!
ASCFM MINIMUM DEPOSIT
All deposits are without a doubt at risk of being stolen. You have been, once again, warned!
From the user area, we found out that users can invest in one of two ways: bank transfer or a bitcoin wallet, two of the favorite means of investing used by scammer brokers because of their ability to make deposit tracks disappear.
That's all the payment information we were able to gather from the user area. On to the website, a source of payment conditions is not to be trusted.
Not only is the website not to be trusted, but it also holds close to no payment information. We only found that the alleged minimum deposit requirement is $1000. This is quite the largest requirement and is hints that the broker is after bigger fish than we initially thought.
ASCFM WITHDRAW TIME AND FEES
We always say that withdrawals are almost never possible with unlicensed brokers. It wouldn't be profitable to the scammer if it gave away all the deposits plus any profit!
The client portal states that all withdrawals happen only by bank transfer. That's fine, but there is no guarantee that the user will be able to withdraw. And moreover, bak withdrawals are not that easy to receive especially with scammer brokers.
As for the site, there is no withdrawal information. No fee details exist, and no processing times have been talked about. The lack of information on commissions does not mean that there are no fees overall.
Safe to say that Ascfm is a risk to all and a scam. We assure you that all deposits will be lost, while any personal details you may have given away can be misplaced and tinkered with.
Ascfm compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines