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Scam Brokers
Score
1.57 /10
Danger
ANCFX
Scam Brokers5-10 years
Suspicious Regulatory License
Suspicious Overrun
High potential risk
Add brokers
Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index7.48
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
open now
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This platform is a Ponzi Scheme. Please stay away!
4
Previous Detection :
2024-11-11
- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
- The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
WikiFX Verification
General Information
Established in 2016, ANC FX is the trading name of ANC Wealth Pty Ltd, a company located in Melbourne, Victoria, Australia. ANC FX says it offers an extensive range of trading products, including currencies, indices, stocks, and more.
Official Website Unavailable
Since ANC FXs official website cannot be accessible for the moment, we could only pick up some relevant information from some broker review websites to get a rough idea of this broker.
Market Instruments
Tradable financial instruments available on the ANC FX platform include forex currency pairs, indices, stocks, and cryptocurrencies.
Minimum Deposit
In terms of the minimum deposit requirement, ANC FX does not disclose this part. In most cases, most brokers would require traders to fund at least $100 or an equivalent amount to start trading.
Leverage
No trading leverage information is found anywhere. Keep in mind that leverage can amplify gains as well as losses, so inexperienced traders are not advised to use the too-high lever.
Spreads & Commission
ANC FX says it provides competitive spreads for its clients, but it does not specify spreads on particular instruments.
Trading Platform Available
When it comes to trading platforms available, ANC FX does not make this part clear. However, one thing we can be sure of is that what ANC FX offers is not the famous MetaTrader platform.
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