Our Aspen Trading Review tackles a shady brokerage company that has scammed several unsuspecting traders. Founded by Dave Floyd, this company is based in the United States but is not regulated by the respective financial market authority.
We have analyzed what the website offers in terms of the trading platform, instruments, and conditions. Although the information provided by Aspen Trading is scarce, we have gathered enough material to deter you from investing in this unreliable platform.
Right off the bat, we have a red flag – the aspen trading corp is not regulated. Since this entity operates in the United States, it is required to meet extremely demanding criteria in order to obtain a valid trading license.
Top-tier regulators such as the FCA (UK), CFTC (US), ASIC (Australia), CySEC (Cyprus), BaFin (Germany), etc. require brokerage companies to possess a substantial minimum operating capital (i.g. 730,000 EUR or 1,000,000 AUD), offer clients negative balance protection, a segregated account, and even a compensation scheme (i.g. up to 20,000 EUR).
Aspen trading and Dave Floyd are a joke. The returns Dave posts that are supposedly verified are not what you’ll receive as a U.S. based trader… To save you the time and money of finding out the hard way, his past trades are mostly losers BUT his losers are almost always larger than his winners. I fired him very quickly after losing a couple thousand dollars in just weeks on some poor trading. Save your money and go somewhere else…
It seems that Dave Floyd’s strategies are awful. Traders are dissatisfied with the results, complaining about insignificant gains. Also, some have had withdrawal issues with the aspen trading company.
If you fell victim to the Aspen Trading scam, you can book a free consultation with us. We’ll help you recover your funds.
The US and the UK in particular are major financial hubs with tight yet different financial market regulations and laws. India and Thailand are an entirely different story too. Aspen Trading is not compliant with the rules of either jurisdiction, which means the company is not safe for trading.
The aspen trading software is MetaTrader 4. Famous for being a trailblazer, MT4 is a cutting-edge trading platform with a wide range of advanced options such as automated trading, multiple timeframes, API integration, a user-friendly interface, etc.
According to the aspen trading login page, the minimum account size is 10,000 USD, required to trade on MT4. Aspen Trading Group’s managed account program costs 349 USD per quarter and the subscription will renew automatically 90 days from the time of the first sign-up.
The minimum deposit requirement is insane. To make matters worse, you have to pay a quarterly subscription fee to a company that didn’t even disclose the leverage, spreads, fees, commissions, etc.
Imagine risking this money with an unregulated and shady company such as Aspen Trading. There are many reliable and licensed providers that will charge you 250 USD to trade on MT4.
The Aspen Trading platform offers several classes of popular trading assets:
No, Aspen Trading did not include a demo account. This means that you cannot test the platform out for a free trial period. Bad news. If you are interested in trading with Aspen Trading, you have to risk a staggering amount of money, which we don’t recommend at all. Novice traders, please stay away from this company.
Legitimate brokers always include a risk-free demo account for a trial period of, for example, 30 days so that they can test out the platform, get a feel of it, and decide whether they are ready to invest real money to trade.
Should you experience any withdrawal issues with Aspen Trading, please contact us for help.
Since Aspen Trading’s legal documentation is missing, we do not know anything about the deposit & withdrawal methods and the related fees, processing time, etc. Payment methods are also a mystery.
Such a lack of transparency is alarming. Please do not trust a company that operates in a shady manner and does not specify key information about trading.
Transactions made via popular payment options such as credit/debit cards can be reversed. For instance, MasterCard and Visa card transactions can be reversed via a chargeback, which can be requested at the issuing bank within 540 days of the transaction.
Aspen Trading is a US-based broker that offers unregulated trading services mainly to traders residing in the US, the UK, India, and Thailand. If you’re experiencing issues with Aspen Trading and are unable to withdraw your funds, you can book a free consultation with Global Fraud Protection.
To reiterate, credit/debit card transactions can be reversed via a chargeback. Wire transfers can be reversed via a recall while crypto transactions require advanced software. We have experts that will gladly guide you through the fund recovery process.
Book your free consultation today and start the chargeback process.
Aspen Trading Group is a US trading company that operates without a trading license. This entity is not registered with the CFTC, NFA, or the SEC.
Aspen Trading offers trading services related to Forex, CFDs, stocks, futures, and cryptocurrencies.
Aspen Trading is not safe because the company is unregulated. They offer CFD trading, which is banned in the US.
Several traders have had withdrawal issues. If you have these issues, we can help you recover your money.
The post Aspen Trading Review: A Platform Flagged As Fraudulent By Traders appeared first on Global Fraud Protection.
