Aiko Markets does seem like an appealing offer. However, this broker has a dark side, which we plan to expose in the Aiko Markets Review.
There are some things you should know about Aiko Markets’ regulatory status, trading platform & cost, leverage, and payment policy. Read this review carefully before investing in this offshore brokerage.
Yes, and that’s the biggest problem here. Aiko Markets is an offshore broker run by Aiko International Ltd from Saint Vincent and the Grenadines (SVG).
SVG’s Financial Services Authority doesn’t regulate Forex trading. Therefore, the Aiko Markets regulation is fake, i.e. there’s no governing law in force, contrary to what the broker said in the T&C section.
Instead of trusting this unregulated broker, we suggest you trade with a licensed provider. The European Securities and Markets Authority (ESMA) has heavy regulations implemented by all of the EEA zone financial watchdogs.
If you’re European, it’s best you trade with a broker that’s licensed by regulators such as the FCA, BaFin, CONSOB, FINMA, CNMV, AFM, etc. On the other hand, US Forex brokers have to be registered with the NFA and CFTC.
Aiko Markets is an unlicensed offshore broker from Saint Vincent and the Grenadines. The shady broker has been offering services to traders from the US, Venezuela, Argentina, Chile, and Spain since August 2020.
It’s important to list where Aiko Markets offered unregulated services. We managed to find out in which countries this broker was active:
Have you noticed what all these countries have in common? Spanish speakers! Although English is the dominant language in the US, there are nearly 50 million (around 13% of the population) Spanish speakers in that country. Regardless of the language you speak, beware of this unlicensed offshore provider.
Based on the info we found on Aiko Markets’ website, the broker was active on two social media platforms – Instagram & Twitter. That’s how offshore brokers find victims.
They lurk online and run fraudulent marketing campaigns. Or, they create FB & Instagram posts, YouTube videos, post fake LinkedIn ads, etc. Watch out for dubious WhatsApp chats.
Private Telegram channels are swarming with scammers. Also, dating apps such as Tinder aren’t safe either. Lastly, scammers often call traders on the phone or send direct emails.
Traders don’t seem to be content with Aiko Markets. We found some complaints against the broker. Most point to withdrawal issues and super-high commissions. Here’s a recent warning from one trader:
The demo account provided by AIKO Markets can be tried, but it is not recommended to open a real account. The trading conditions are not comparable to other regulated brokers at all, and the commission is too high!
Aiko Markets offers MetaTrader 4. The broker made available a desktop, MAC, Android, and iOS version of MT4 on its website. There’s also a web-based version available.
MT4 is great and all that, but the issue here is that Aiko Markets is unregulated. Even a renowned platform such as MT4 cannot compensate for this.
As mentioned, MT4 is a phenomenal trading platform. Designed by MetaQuotes in 2000, MT4 has been setting the bar high ever since then. The platform is equipped with cutting-edge tools that make trading a truly wonderful experience.
We’re talking about automated trading, multiple timeframes, live market reports, instant execution, a user-friendly interface, etc. It can only be rivaled by its successor, MT5.
Here’s an overview of Aiko Markets’ trading instruments:
The Scalp account offers a decent raw spread – 1 pip. However, the commission is insane and amounts to 14 $. Aiko Markets didn’t specify whether these 14 $ were per round turn or side turn, which is important.
Let’s say it’s per round turn; that means that a trade per lot would cost you 24 $, and that’s really high. No legit broker would charge you that much.
The other two account types have lower commissions (10 $ & 7 $) but they’re still relatively high compared to what licensed brokers charge.
Aiko Markets offers three different live account types:
The minimum deposit for the True ECN account wasn’t disclosed. All account types have the same leverage cap – 1:500. That’s really high and risky.
You could earn big but in reality, high leverage equals huge losses, hence the legal limits of 1:30 in Europe set by ESMA and 1:50 in the US.
Yes, Aiko Markets included a free demo account. You can use this demo account to try out MT4 and its features. Aiko allows you to set your virtual trading budget (100-100,000) and your max leverage (1:50-1:500).
A demo account is a great thing but please be careful if you decide to open a live account and invest real money. The risks are greater, especially if you trade with unregulated offshore brokers such as Aiko Markets.
Here’s another issue with Aiko Markets – the broker only accepts payments via cryptocurrencies. This is problematic because crypto transactions are extremely hard to track down.
The broker offers you to use your credit/debit card to buy Bitcoin via Instacoins and deposit it. As for the Aiko Markets withdrawal policy, the broker didn’t say anything concrete. We know nothing about fees.
All in all, Aiko Markets is not a trustworthy broker. The lack of regulation and insane commissions are alarming.
Having withdrawal issues? You should write a complaint on trading forums. You’re not the only victim of Aiko Markets scam. If the broker violated any terms and conditions, please let us know.
We can report the scammer to the authorities but we can also help you get your money back. Global Fraud Protection’s experts are skilled crypto-tracers and use advanced software such as CipherTrace.
If this broker steals your money, contact us for help. The fastest and easiest way for you to book your free consultation with us is via Online Chat.
No, Aiko Markets is not a regulated broker. It’s better to find a licensed broker. If you lost money to Aiko Markets, call us.
Yes. However, opening a live account and investing real money is the real trap here.
Yes. Aiko Markets included Android and iOS versions of its MT4 platform.
Yes, MT4 is a great trading platform. The only issue is that Aiko Markets in unregulated.
No, Aiko Markets is not a regulated broker. It’s better to find a licensed broker. If you lost money to Aiko Markets, call us.
Yes. However, opening a live account and investing real money is the real trap here.
Yes. Aiko Markets included Android and iOS versions of its MT4 platform.
Yes, MT4 is a great trading platform. The only issue is that Aiko Markets in unregulated.
The post Aiko Markets Review – Aikomarkets.com Is An Unlicensed Offshore Broke appeared first on Global Fraud Protection.
