Warning! ASJ Forex Global is an offshore company! Your deposit may be at risk.
RECOMMENDED FOREX BROKERS
ASJ Forex Global is so bad that we don’t even want to express our feelings here. Just read the review and you will find out why we were so eager to get this one over with.
The first stand that ASJ Forex Global takes has to do with is address in Hong Kong. As always, an address to us sounds like a local regulation otherwise the claim would be irrelevant. Well, we quickly checked with the Hong Kong Securities and Futures Commission (SFC) – the city-state’s main regulatory body – and found no hint of ASJ Forex Global being present in Hong Kong. We could have easily skipped the SFC part, because judging by the sheer state this company is in is enough to assume that ASJ Forex Global is not affiliated in anyway with the Honk Kong jurisdiction – on of the worlds financial centers.
We are directly told in the footer that the company currently being reviewed is regulated by FinCen in the US. There is one thing very wrong with this claim. FinCEN is does not have any regulatory powers in the US, unlike the actual US-based FX regulators- the CFTC and NFA. FinCEN actually stands for the Financial Crimes Enforcement Network, a branch in the US Department of Treasury that deals with information analysis in order to combat money laundering practices, terrorisms financing, and other major financial crimes both domestically and abroad. In fact, FinCEN is the last place that ASJ Forex Global would want to fall into.
The company was briefly mentions that it hold a license from Canada’s FINTRAC, which just as in the case above, has no powers over FX broker. FINTRAC is actually the Financial Transactions and Reports Analysis Centre of Canada, the country’s national financial intelligence agency.
And lastly, how could ASJ Forex Global miss the opportunity to add the most common scammer statement of all- that its services are available only to users whose local jurisdictions grant them access; in other words ASJ Forex Global is available only there where the user complies with local laws and regulation. This sort of statement leaves out the most important aspect of any broker: that it’s the firm’s responsibility to be licensed and not the user.
Was there any doubt from the start that ASJ Forex Global is completely unregulated? Just by looking at it one can get the full picture. This wanna-be broker is a scam and nothing else!
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).
There was no way to opne an account without providing the necessary referrals as the broker calls them, which is essentially a code provided to the user by the broker itself. This is the first initiation phase that gets the user close to the broker, and thus more open for manipulation. It’s scammer scheme 1.0. Read more about this process at the end of the review.
For now, our readers must be aware that all of the following information concerning trading and payment conditions will be taken from the site of an illicit and very fraudulent entity, so nothing that we are about to reveal is certain.
ASJ Forex Global promotes 30+ currency pairs, indexes, commodities, noble metals, energies, and digital currencies as its available roster of tradeable products. The leverage is said to be capped at 1:300. There are currently no spread values indicated anywhere.
ASJ FOREX GLOBAL LOGIN
We are told that there is an available MT5, and wouldn’t you know it, there is was, available on all sorts of devices, on top of it being open to us as a desktop trader.
Unfortunately, we never got around to installing it because the execution file was suspiciously named and our firewall advised against installing the software.
We don’t believe we are missing anything here. This MT5 was either pirated or acquired through another shady way.
ASJ FOREX GLOBAL MINIMUM DEPOSIT
These are the payment methods mentioned by the broker in the FAQ section: UnionPay, telegraphic transfer, e-wallet, local bank transfer, digital currency and “other” payment methods. Even if we wanted we could not have been able to put it more vaguely.
The same ambiguous website section claims that the minimum deposit is $50.
Personally, we do not trust any of this information, and it’s easy to see why; taken from the FAQ sub-section, the broker could easily write whatever it wants.
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.
ASJ FOREX GLOBAL WITHDRAW TIME AND FEES
Withdrawal details are overly cryptic. The only thig we are told is that there are no commissions, and that transfers take up to 3 days to process, although the latter may actually apply only to deposits.
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!
ASJ Forex Global is not a bad broker, it’s a horrendous one, with nothing to show for. It’s lies stack one upon the other and by the end of this review we felt like getting a cleanse. Do not invest here!