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AshokFX Review – is it scam or safe?

AshokFX Review  – is ashokfx.com scam or good forex broker?

RATING: 1.5 / 4 REVIEWS AshokFX
AshokFX is an offshore broker. Your money is not safe.

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Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Standard $100 0.01 lot 1:100 2.8 pips
Pro $20 000 0.01 lot 1:100 1.8 pips

 

AshokFX keeps it simple with just two types of live trading accounts: Standard and Pro. There is also a free demo account and a money management account.

 

The broker offers a tradable portfolio of more than 70 currency pairs, metals and CFDs.

 

 

The Company. Security of Funds

 

Company Country Regulation
 Ashok Capital Ltd Vanuatu  VFSC

 

AshokFX is one of the many offshore forex brokers registered on Vanuatu and regulated by the Vanuatu Financial Services Commission (VFSC). According to its site, the broker has a liaison office in the Philippines. It seems the main areas of activities is Asia, some African countries and the Middle East.

 

Generally the offshore regulators do not provide proper client protection and have very lax requirements for the brokers, which often attracts companies with dishonest intentions. Hence, dealing with brokers regulated by offshore watchdogs is much riskier than with the ones supervised by more serious organizations. Such strict regulators are UK's FCA and the Australian Securities and Investment Commission (ASIC), for example.

 

They, among other things, have employee qualification and capital requirements and oblige their charges to be members of client compensation schemes, which can cover client funds in case the broker goes bankrupt.

 

 

Trading platform

 

Like most forex brokers, AshokFX offers trading on MetaTrader 4 (MT4). The broker provides all versions of the MT4 – for desktop, web and Android and iOS mobile devices.

 

The MT4 has been the favorite of brokers and traders alike for over 10 years now and it does not seem it is going away anytime soon. The platform is user friendly, supports multiple types of orders, hedging and third-party APIs. The MT4 also provides various charting and technical analysis tools, Expert Advisors (automated trading) and a lot of other options.

 

 

Payment methods

 

AshokFX accepts payments through the most conventional methods: bank transfer, credit and debit cards and the online payment system Neteller.

 

 

Conclusion

 

AshokFX is one of the hundreds of offshore forex brokers with not so attractive trading conditions and lax regulations. There is not a single reason to choose it over a properly regulated broker – many of them offer better trading conditions, plus better regulatory protection.

 

Pros Cons
MT4 Offshore
  Wide spreads
  Low leverage

 

Latest news about AshokFX
No news about AshokFX. Check back later.
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Traders` reviews for AshokFX

Spread

Pros

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Slippage

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Requotes

Pros

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Price feed

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Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

ASHOK is a scammer

Please read this before you regret trusting this SCAMMER,
he deserved to be executed.

https://financefeeds.com/mercerfx-really-ran-away-client-funds-financefeeds-investigates/

https://financefeeds.com/mercer-fx-pump-and-dump-scheme-exposed-we-detail-exactly-what-happened/

https://financefeeds.com/victim-provides-statement-regarding-fraudulent-mercer-fx-ma-deal/

Scammer alert 12/03/2017

Ashok fx , ashok trading, ashok capital scam company owned by Thomas mathew ashok kumar

Yes he is still running his monkey business in the philippines, located in robinsons galleria.Yes I was one of the hundred clients Asia who loose the deposite. Thomas ashok is a money eater! Dont trust him!He is a thief! He is using filipinos to gain more money!

Anna 07/10/2017

Unlicensed Scam Broker - Stay Away

Do not trust this company under any circumstances. Any decent FX Broker is licensed in a place like Australia, or the UK, but this broker is licensed in Vanuatu for securities (not even for Forex), and runs out of Manila in the Philippines.

The owner is previously from Mercer Markets, which was a scam broker where hundreds of clients in Asia lost their deposits.

You have been warned, enter at own risk.

Robert Chung 04/24/2017

I recommend this broker

I didn't regret choosing this broker tho they're not yet prominent. The coaches/ traders and support are very helpful and even the deposit and withdrawal is reliable. Unlike other brokers, once they've got your money, they won't care at all!

Esmeralda Del Valle 03/28/2017
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