Overview of AssetsFX
Founded in 2013 and headquartered in Mauritius, AssetsFX is an unregulated broker that offers trading services in forex and CFDs. The brokerage provides various trading instruments including forex pairs, commodities, indices, cryptocurrencies, and stocks. AssetsFX appeals to different types of traders by offering a variety of account types ranging from the entry-level CENT account, requiring a minimum deposit of just $1, to the premium ZERO ECN account which requires $5,000 to start. Accounts boast competitive leverage up to 1:500 and spreads starting from 0.0 pips on ECN accounts.
Pros and Cons
AssetsFX offers a rich selection of trading instruments, including access to both traditional and emerging markets, a benefit for traders looking to explore different financial sectors. The inclusion of major stock markets and cryptocurrencies provides a gateway to some of the most dynamic trading spaces available. Additionally, the broker's tiered account system, featuring low to no spreads for higher-tier accounts, enhances the trading experience by reducing transactional costs. The availability of industry-standard platforms, MT4 and MT5, further supports traders with robust tools and analytics for better market analysis and execution.
On the flip side, the absence of a regulatory framework indicates possible challenges regarding the security of investments. Premium accounts, while offering reduced spreads, come with higher minimum deposit requirements and reduced leverage, which could limit accessibility for traders with modest means or those who prefer high leverage positions. Furthermore, the commission charges on ECN accounts as could significantly impact profitability for low-volume traders. Withdrawal processing times and the current scope of educational resources suggest areas where AssetsFX could improve to enhance trader support and satisfaction.
Is AssetsFX legit or a scam？
AssetsFX does not hold regulation from any established financial oversight body. This lack of regulation introduces considerable risks concerning the safety of funds and compliance with legal standards.
Market Instruments
Forex: AssetsFX offers competitive spreads on major currency pairs including EURUSD (0.1 spread), GBPUSD (0.1 spread), and USDJPY (0.2 spread), appealing to forex traders looking for tight spreads on major pairs.
Commodities: Traders have the opportunity to trade in commodities such as Gold (XAUUSD) and Oil (UKOUSD & USOUSD), with very low spreads (0.4 and 0.1 respectively), making it an attractive option for commodity traders.
Indices: The brokerage provides access to a range of global indices including NAS100, SPX500, and US30 with relatively low spreads which vary from 3 to 12.5, appealing to those interested in index trading.
Cryptocurrencies: Cryptocurrency traders can trade popular digital currencies like Bitcoin (BTCUSD) and Ethereum (ETHUSD), although spreads can be high (163.7 for Bitcoin).
Stocks: AssetsFX offers trading on a variety of stocks, enabling traders to participate in the equity markets. The availability of stock trading adds another layer to AssetsFXs portfolio.
Account Types
This broker offers five trading accounts, namely:
1. CENT Account
Minimum Deposit: $1
Leverage: 1:500
Spread: Starts from 2.2 pips
Commission: No commission
Features: Created for beginners or those testing new strategies with minimal risk.
2. STANDARD Account
Minimum Deposit: $10
Leverage: 1:500
Spread: Starting from 1 pip
Commission: No commission
Features: Suitable for regular traders who prefer a straightforward trading environment without commissions.
3. ECN Account
Minimum Deposit: $50
Leverage: 1:500
Spread: Starting from 0.0 pip
Commission: $3 per lot per side
Features: Appeals to experienced traders looking for low spreads and direct market access with some commission cost.
4. ECN PRO Account
Minimum Deposit: $1000
Leverage: 1:500
Spread: Starting from 0.0 pip
Commission: $2 per lot per side
Features: Targets professional traders who trade large volumes and require the lowest possible spreads and lower commissions.
5. ZERO ECN Account
Minimum Deposit: $5000
Leverage: 1:200
Spread: Starting from 0.0 pip
Commission: No commission
Features: Best suited for high-volume traders who can trade with no commission charges and reduced leverage for potentially larger positions.
How to Open an Account with AssetsFX
Website Navigation: Go to the AssetsFX official site and click the 'Open Account or 'Start Trading' button.
Registration: Fill in the registration form with your details such as name, email, and phone number, and select the type of trading account you wish to open.
Verification: Complete the form by providing required identification documents to verify your identity. This is important for ensuring the safety and security of your account.
Deposit: Fund your account using one of the several methods available, including cryptocurrencies and various direct transfer options.
Begin Trading: With your account funded, you are ready to trade. AssetsFX offers over 150 different instruments and access to popular platforms like MT4 and MT5.
Leverage
The leverage can reach up to 1:500 for the CENT, STANDARD, and ECN accounts. For traders looking for lower risk exposure, the ZERO ECN account offers a reduced leverage of 1:200.
Spreads & Commissions
The CENT and STANDARD accounts have no commissions, with spreads starting from 2.2 and 1 pip respectively, suitable for casual and new traders. The ECN, ECN PRO, and ZERO ECN accounts appeal to more advanced traders offering raw spreads from 0.0 pip and low commissions - $3 for ECN, $2 for ECN PRO, and no commission for ZERO ECN.
Trading Platform
AssetsFX provides the MetaTrader 4 and MetaTrader 5 platforms, which support a broad range of devices including Windows, MAC, Android, iOS, and web browsers. This multi-platform availability ensures that traders can access their trading accounts and execute trades from virtually anywhere.
Deposit & Withdrawal
Deposit Methods:
Perfect Money: Instant processing, no commission.
Local Transfer: Within 1 business day, no commission.
Cryptocurrencies: Includes Bitcoin, Ethereum, Litecoin, Ripple, Monero, Cardano, Dash, Tron, and more, all with instant processing and no commission.
Digital Payments: Tether (USDT-TRC20 and USDT-ERC20), no commission, instant processing.
Other Wallets: Paytm, PhonePe, Gpay, Upi, also with instant processing and no commission.
Withdrawal Methods:
Perfect Money: Within 24 working hours, no commission.
Local Transfer: Within 24 working hours, no commission.
Cryptocurrencies: Includes Bitcoin, Ethereum, Litecoin, Ripple, Monero, Cardano, Dash, Tron, and more, all processed within 24 working hours with no commission.
Digital Payments: Tether (USDT-TRC20 and USDT-ERC20), no commission, processed within 24 working hours.
Other Wallets: Paytm, PhonePe, Gpay, Upi, also processed within 24 working hours and no commission.
Customer Support
Office
59 Dimitriou Kitrou, DAKA BUILDING, 4102 Agios Athanasios, Limassol,Cyprus
Call Us
+35725251492
MON-FRI, 10AM-7PM
Email Address
info@assetsfx.org
cs@assetsfx.org
A contact form and online live chat are provided for traders to send messages.
Conclusion
AssetsFX, founded in 2013 in Mauritius, facilitates trading across a comprehensive selection of securities such as forex, indices, and cryptocurrencies. The broker's account offerings range from the beginner-friendly CENT account to the advanced ZERO ECN account, each providing beneficial leverage options and competitive spreads to accommodate various trader needs. Nonetheless, the most substantial concern with AssetsFX is its unregulated nature, which may jeopardize the safety of trader funds and affect its credibility. While the leverage options may attract some traders, the absence of regulatory protection and possible withdrawal limitations might deter those who prioritize security in their trading decisions.
FAQs
Q: Is AssetsFX under any regulatory authority？
A: No, AssetsFX operates without formal regulation.
Q: What account types are available at AssetsFX？
A: AssetsFX offers various accounts including CENT, STANDARD, ECN, ECN PRO, and ZERO ECN, tailored to different trader requirements and capital commitments.
Q: What's the minimum deposit for starting an account at AssetsFX？
A: Minimum deposits at AssetsFX start at $1 for the CENT account, reaching up to $5000 for the ZERO ECN account.
Q: Which trading platforms does AssetsFX use？
A: The broker provides MetaTrader 4 and MetaTrader 5 platforms, supporting a wide array of trading strategies and preferences.
Q: How can I deposit and withdraw funds at AssetsFX？
A: Multiple methods are supported for both deposits and withdrawals at AssetsFX, including cryptocurrencies and e-wallets, generally processed within 24 hours without fees.
Q: What levels of leverage are offered by AssetsFX？
A: AssetsFX offers leverage up to 1:500 for most accounts, with a lower leverage option of 1:200 available for the ZERO ECN account.
Q: Is cryptocurrency trading available at AssetsFX？
A: Yes, trading in major cryptocurrencies like Bitcoin and Ethereum is possible at AssetsFX.
Risk Warning
Online trading poses substantial risks, with the potential for complete loss of invested capital, rendering it unsuitable for all traders. It is imperative to comprehend the inherent risks and acknowledge that the information provided in this review is subject to change due to continuous updates in the company's services and policies.
Additionally, the review's generation date is a critical consideration, as information may have evolved since then. We strongly advise readers to verify updated details directly with the company before making any decisions, as the readers must be aware of and willing to accept the inherent risks involved in utilizing this information.
2024-07-05 10:28
2024-05-03 16:54
