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Aspen Holding Review - is it scam or safe?

Aspen Holding Review - is aspenholding.com scam or good forex broker?

RATING: 1 / 6 REVIEWS Aspen Holding
Aspen Holding is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit  Max. leverage Spread
Basic  $250 1:500 3 pips fixed
Bronze  N/A 1:500 N/A
Silver  N/A 1:500 N/A
Gold  N/A 1:500 N/A
Platinum  N/A 1:500 N/A
Diamond  N/A 1:500 N/A

  

Aspen Holding offers as many as six account types, yet it is not clear what are the spreads, nor the minimum investment required for most of them. What is worse, this forex and CFD broker is not regulated and we have reasons to believe that its clients could fall victims of scam.

 

 

Aspen Holding Advantages

 

Huge selection of assets, high leverage

For all its faults, this broker at least offers a good selection of financial instruments for trade, as well as leverage up to 1:500, which will suit traders of all skill levels and preferences.

 

Aspen Holding’s product portfolio includes many currency pairs (including exotic ones), CFDs on precious metals, energies, stocks and some of the most popular cryptocurrencies – Bitcoin, Ethereum, Ripple, and Litecoin.  Yet, if you are keen on trading Bitcoin and other digital assets, it is best to choose among reliable and licensed brokers.

 

 

>> Our recommended brokers offering Bitcoin trading <<

 

 

Aspen Holding Disadvantages

 

Not regulated and most likely a scam

Aspen Holding is a trading name of Vanuatu-based company Next Trade Ltd., which has already become notorious for its brand Olympus Markets. The payment services are allegedly provided by Beauty Productions Ltd., a Bulgarian firm.

Although Next Trade Ltd. is present in the list of “Dealers in securities” of the Vanuatu Financial Services Commission, the latter has rather lax requirements and basically does not exercise any oversight on “licensed” brokers. 

 

Although Aspen Holding’s Terms and Conditions claim that the governing law is that of Bulgaria, the company is not licensed by the local Financial Supervision Commission (FSC). Financial services providers operating in Bulgaria have to regulated by the FSC or by another EU financial authority, as required by law. So, we can safely conclude that Aspen Holding does not hold a legit forex broker license, although, judging by the languages its website supports, the brokerage targets mainly European investors.

 

The lack of financial regulation is a major issue, because it means that the interests of the clients of Aspen Holding are not protected in any way, nor are they funds secured. What is worse, the reputation of the other brand of the company, Olympus Markets, is already ruined, and we are quite certain that this broker is a scam. That being said, most likely the situation with Aspen Holding is the same.

 

There is a plethora of user complaints submitted as comments to our review on Olympus Markets, which shed a light on the broker’s scam strategies. One of our readers says that he lost $6 500 in a mere month with this broker and another elderly man complained he has been conned into depositing $97,000, and never saw a single buck of his investment.

 

MetaTrader4 not available, high spread

Although it claims to offer MT4, it is not freely downloadable on Aspen Holding’s website. When we opened a live trading account, with the broker, as demo ones are not offered, we got access to a web-based trading interface.

 

 

The image gets larger if you click on it.

 

The platform is the same as the one offered by the other brand of Next Trade Ltd., Olympus Markets. It is simple and intuitive, but cannot be compared to the most popular trading solution – the MetaTrader4 (MT4). The MT4 features numerous market indicators, advanced charting tools and even the option to run automated trading sessions with the help of specially designed trading bots – Expert Advisors. Here you may check our list of brokers supporting the MT4.

 

 

>> Check out the best MT4 Brokers <<

 

 

Salty extra fees

 Exactly like Olympus Markets, this broker charges a couple of unusual fees which are not common in the forex industry, and are actually are quite salty. All withdrawals are subjected to a service fee of 3.5%. There is also a clearance fee of 0.5% charged on every trade, both winning and losing, up to 1000$. 

 

 

In case a client’s trading account is inactive for two months or more, a monthly account dormant fee of $200 is charged. Furthermore, the broker has a monthly maintenance fee of 0.5% and cryptocurrency trades are subject to a 5% Swap fee.

 

 

Conclusion

 

Aspen Holding is not allowed to operate in the European Union, nor on any other regulated financial market. Nonetheless, it seems to illegally target EU investors. Also, we suspect that this forex broker runs some sort of scam scheme, just as Olympus Markets. The latter, by the way, was blacklisted by several EU financial regulators, and BaFin went as far as ordering it to cease operating in Germany.

 

Scammers often use different names and domains, so you’d better avoid all above-mentioned brokers associated with Next Trade Ltd, as well as all unregulated ones in general. Unfortunately, it seems that the forex industry is plagued with fraudsters, so we encourage investors to deal only with financial services providers licensed by reputable governmental agencies like the FCA or CySEC in Europe.

 

>> Trade with a CySEC-regulated broker <<

 

 

To sum up our review on Aspen Holding in a few words:

 

Pros Cons
High leverage Not regulated and likely a scam
Many tradeable assets No MetaTrader, high not supported
  Salty extra fees
  Trading conditions not fully disclosed, no demo

 

Latest news about Aspen Holding
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Traders` reviews for Aspen Holding

Spread

Pros

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Slippage

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Requotes

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Price feed

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Platform

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Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

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Summary

Pros

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Avoid Aspen Holding!

Lost 250 Euro month ago. Cant get them back, and will not hope. Today contacted Mikhail Verkolskiy from AspenHolding. Hi promised to get all sum to my bank account (about 1800 euro, the sum which is generated in my AspenH account during ~month :DDD). Michail: 1) kindly asked to install AnyDesk software from ru server. When he get eye over my shoulder, he asked to connect to my band internet account. I've took preventive measures an left only few euro in my Visa account. But Michail saw the solid sum in ather not VISA account, and told, that in order to make money transfer, he needs ALL THE MONEY to be in one VISA account :DDD. Then Mikhail asked to open another account in JUBITER.com, where is of course required full verification (scan and send ID and other documents). Verification is the same as in AspenHolding account: siply send them all passport, personal ID, visa account data :DDD. With Mikhail we agreed to proceed on my 250 euro return this evening. I hurried to withdrow all the money to another safe bank and Mikhail lost interest to help me :D It is DANGER: i somehow beleve, that AFTER sesion with ANYDESK, scam boys now can manage to see my VISA balance. And their interest to keep all money in one account during "HELP+money regain form AspenHolding" mens, they can empty VISA account with some algoritms????? so BE CAREFUL!!!!!

Darius 07/09/2019

Aspen Holdings and & Bitcoin Loophole

I was invest 750$ when I request to withdrawal the account manager not respond and ignore my calls,text,watssap,email
Anyone can help
I have do payment through wire less and I have all transaction copy

Sham 07/04/2019

Aspen Holdings - avoid!

This company is a scam. They will take your deposit and use hard sales tactics to get you to trust them and invest maximum money. They will never return your deposit and pretend your account is not verified should you are a withdrawal attempt. PLEASE AVOID THEM.
Names : Jenny Williams, account verification
Adam Cedrick Broker floor manager.
I suspect above names are fake.
They took the 250 $ from me into Russian rubles.
Don’t trust them at all and stay safe and use registered brokers. They are not regulated.

Meiraj H 07/04/2019

$6500 lost with Aspen holding since 07 June 2019

Please help me I have lost the above mentioned investment with this company.I was demanded to add more money,and like a fool I fell for this scam.Now I am bankrupt ,indepted.Anyone out there help me get my money back .Please reply on my email above.

Thabile Nxumalo 07/03/2019

Aspen Holding - Withdraw Money

Hi guys is there anyone can help me i'm trying to withdraw my money from aspen holding seems its really hard to contact them. how will i able to get it back.

anyone there that can help me please contact me through my email

Thanks very much

sally

Sally Cruz 06/18/2019

Scam

Nigerian Scam.
Reason is on bank statement payment is made to Nigeria.

Neville Williams 06/14/2019
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