AFS Equity Review: All About AFSEquity.com
There is a big chance that you have been contacted by many of the investment scams out there and AFS Equity might be among them. ASF Equity’s website might mislead you into believing they are the real deal, but there are many red flags about them. One of them being that they are unregulated and another that they didn’t even provide their clients with any phone number.
And as we said, that is just the tip of the iceberg, and this AFS Equity review is here to uncover them all.
|Unregulated scam broker
AFS Equity Funds Security and Compliance
Since the only information we managed to find out about AFS Equity is that they are owned by AFS Equity LLC. Besides that, there is no mention of the headquarters, no phone number, no Terms and Conditions, no nothing.
Because of that, we have decided to check all the Tier 1 regulators to see if there is any mention of the AFS Equity broker anywhere. As suspected, there was no mention of AFS Equity LLC anywhere.
All this made us suspect the existence of the AFS Equity regulation. As a Forex and CFD trading provider, this broker must be authorized by the local authorities and comply with ESMA rules in the EEA zone.
And of course, ASF Equity doesn’t actually hold any license or regulation whatsoever. Additionally, the broker also managed to earn an official warning from the Canadian regulatory body, AMF.
Moreover, we also want to warn you against the FxmyTrades, as they also are unregulated.
Trading Platform They Used on Their Website
AFS-Equity claims on the home page of its website that it offers the two most popular platforms in the industry which are MetaTrader 4 and MetaTrader 5. Since those are industry standards by now, we had to double-check those big claims.
And yet again, it was one big lie fabricated by AFS Equity. There was no link to download a customized version of the software for this supposed broker. On top of that, we were also unable to even register with this broker, as at the time we were writing this, you could only sign up with them if you have a promo code.
Therefore, we cannot confirm whether registration provides access to any trading software. We believe they actually offer a very basic Web Trader that doesn’t even come close to the MT4 and MT5.
Account Types Offered
AFS Equity offers its customers to choose from four different accounts, which include:
- Starter – $1,000
- Silver – $5,000
- Gold – $25,000
- Platinum – $50,000
The minimum deposit requirement is just too high and absurd. Nobody wants to deposit that kind of money with scammers when they can opt for regulated brokers that will let them start with $10.
On top of that, AFS Equity didn’t even bother to provide its clients with a possibility of a Demo account, to test out their services before depositing. And as for the leverage, it caps at 1:200, which violates the rules set by ESMA, where the leverage cap is set at 1:30.
Deposit and Withdrawal
The AFS-Equity website does not provide information on available payment methods for deposit and withdrawal. This just shows that AFS Equity isn’t fully transparent with its clients.
Usually, fraudulent brokers like them will push you to deposit via crypto as those kinds of transactions are irreversible and hard to trace.
How this Brokerage Carried Out the Fraud?
Don’t ever leave your personal data on those get-rich-fast ads that you can see all over the internet. Because once you do, their agents will try so hard to contact you. They will start by sending you a few emails that will then turn into phone calls.
Remember that these agents are trained in harassing and pushing people to invest. And once they get you on the line, they will do anything and everything in their power to get you on board. Of course, the motto is the more you invest the more you will make.
If you have been scammed by any fraudulent broker, getting your money back is possible! We would also be thankful if you can share your experience with us since we can help you report your scammers to the authorities.
AFS Equity Summary
To summarize everything we already mentioned, AFS Equity is yet another unregulated broker trying to scam you out of your money. As for some of the most important information, they failed to provide their address or phone number you can contact them on.
The broker has also been blacklisted by AMF Quebec, which should be a good enough sign for you to avoid it.
Lastly, their minimum deposit is set as $1,000 which is never seen with a well-regulated firm that cares for their customers. The leverage is also much higher than what legit brokers are offering, with the maximum being 1:200, and of course, there is no demo account you can sign up for.
FAQs About AFS Equity Broker
Is My Money Safe With AFS Equity?
No, your money is not safe as this broker follows no regulations regarding traders’ funds.
What Is The Minimum Deposit for AFS Equity?
The minimum deposit is set at $1,000, which is just too much especially for beginners.
Does AFS Equity Offer a Demo Account?
No, there is no demo account you can open with this scam broker, only live trading accounts.