Do you want to trade on awsfxbank.com? Before you do exactly that, read AWS FX BANK review to know about this broker.
This post promises to share helpful review to support clients/traders in making the right decision.
AWS FX BANK
AWS FX BANK is an offshore brokerage company operated by AWS Financial Solutions with a lot of promises for traders. The broker claims to be registered in the UK, Cyprus and Hong Kong and displays an email and a phone number based in the UK.
What is more, the broker offers different account types like STANDARD, PROFESSIONAL , BUSINESS, AND BUSINESS PLUS.
Further, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
To clarify, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
See section below …
Deposit and Withdrawal
AWS FX BANK Minimum Deposit:
AWS FX BANK minimum deposit is indicated $250 based on the account type. The good thing about a genuine FX broker is that Minimum deposit is made known to traders, and clients can start trading as low as $100
As for the payment methods, the broker appears to accept options like Visa, Mastercard, Maestro, Bank transfer, Lite coin and Bitcoin. Rightfully, you should not consider making any payment with this broker because it is a risk.
Another important thing, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
AWS FX BANK leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Also, traders are charged $50 maintenance fee on any inactive account of 30 days.
AWS FX BANK Platform:
AWS FX BANK platform offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious. Many scammers have trading software to fool their victims that their money is being invested.
AWS FX BANK leverage can get up to 1:100. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Why awsfxbank.com Is A Suspicious Broker
First of, awsfxbank.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit. On our search, We could not find this broker on Financial Conduct Authority, UK register let alone licensed by FCA, UK.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
AWS FX BANK Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Conclusion:
AWS FX BANK located at awsfxbank.com claims to be a genuine trading broker, but that cannot be ascertained. From all indications, we would advise traders to steer clear from this FX broker as it likely a platform run by scammers. Therefore, we urge our readers to rely on regulated brokers like this or any licensed entity.
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