AWFXBank is an anonymous financial services provider. This is never a good sign, as we’ve seen with brokers such as Simplii Cryptos.
Therefore, we decided to uncover all their lies. Check out this detailed AWFXBank review and find out how to recover your money if scammed by the brokerage.
One would definitely say so. If you check the website, the company claims to be regulated in Cyprus and Hong Kong. Of course, we checked the respective regulators, CySEC and SFC, but we found nothing. No trace of AWFXBank regulation anywhere.
Furthermore, the brokerage doesn’t reveal the owner or the legal jurisdiction. Therefore, it was pretty complicated to conduct any research. Their legal documents mention AW FX Bank Limited, but a simple Google search showed that such a company doesn’t exist.
All in all, we can safely conclude that AWFXBank is not legit, and you should avoid it by all means.
Trading scams mostly start with overpromising social media ads. Namely, fraudsters lure victims by promising easy money, automated bots, thousands of dollars overnight, etc. Once you submit your details, you’ll enter the broker system, and deleting your name from there might require you to change your phone number.
Broker sales agents will tirelessly call and send emails and messages through WhatsApp and Telegram. They will say anything you want to hear to gain your trust and entice you to deposit. And once you do, you will be transferred to a more experienced agent known as a retention agent. As you can guess, their job is to retain you and get more money out of you.
We often hear that all these agents suddenly disappear when you request a payout. AWFXBank’s support is no different.
According to traffic analysis, the majority of their victims come from:
Your report can help us pressure the authorities to react and ban this scammer. Therefore, don’t hesitate to go ahead and share your story with our dedicated staff.
While advertising mobile apps and advanced software, the only option for AWFXBank login is through a web browser. The company provides access to a plain WebTrader with no special features. You can open trades, pending orders and check your trading history. Nothing spectacular and nothing worth your time and money.
This platform cannot be compared to third-party solutions like MT4, MT5, or cTrader.
Another one on the list of lies and misconceptions is the mobile app. The company advertises apps for Android and iOS and even provides what seems to be the link to it. Yet, this is not a link but an image. Cheap bait for inexperienced retail traders.
The range of trading assets is relatively standard, with access to these five classes:
Note that there’s no risk-free Demo account, which means these allegations cannot be confirmed.
There are four different account types on offer:
Besides the minimum deposit, accounts differ in assistance from the company side, bonuses, and the availability of an Islamic swap-free account. For instance, only from the Business account can you expect events and seminars, while the Business Plus one brings in VIP events.
The Professional account brings assistance from the assigned account manager and the option to register for a swap-free account.
The leverage remains unspecified, which couldn’t happen if the broker was actually regulated as it claims. Legitimate companies are obligated to be transparent and provide their clients with assistance and information.
The spread is advertised as raw, starting with 0.0 pips. Yet, we believe it’s just a lure. So far, we haven’t found genuine information on the broker’s website, so we won’t start trusting it now.
Here’s the list of available payment options:
Note that crypto transfers are virtually anonymous, which is why scammers prefer to use them. Once you transfer your digital coins, the transaction is hidden behind a blockchain, meaning you’ll need experts in the recovery field to trace them down.
Reviews don’t encourage us to believe that payouts are possible. In fact, we’ve got quite the opposite impression. Don’t waste your time contacting AWFXBank support either, as you won’t get an answer. Instead, contact your bank, local regulator, or our CipherTrace crypto experts.
Let us know if the worst happens and you find yourself a victim of an online trading scam. Global Fraud Protection has dedicated chargeback experts and cyber analysts who can prepare a detailed report regarding your money transfer. We have been working with scam victims for years, and we know how to pressure scammers to refund their money.
Book a free, non-obligatory consultation today, and let’s begin!
AWFXBank is an unregulated Forex and a crypto trading broker. If you lost your money trading with them, let us know, and we might be able to help with fund recovery.
AWFXBank only offers WebTrader over sophisticated platforms such as MT4.
The company doesn’t specify how long withdrawals will take, meaning you can wait forever.
AWFXBank is an unregulated Forex and a crypto trading broker. If you lost your money trading with them, let us know, and we might be able to help with fund recovery.
AWFXBank only offers WebTrader over sophisticated platforms such as MT4.
The company doesn’t specify how long withdrawals will take, meaning you can wait forever.
The post AWFXBank Review: We’re Uncovering Awfxbank.com Deception appeared first on Global Fraud Protection.
