AF Group Review – Why Would Be Best To Avoid Afgroup.pro Broker?
AF Group broker says clients have several reasons to trade with them. Some of the mentioned benefits are full transparency, prioritizing clients, and full responsibility for their support and services. Generally speaking, these are great perks. Or so would they be if they were real.
Read this detailed AF Group review to learn more about this vicious scammer.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||Central Bank of Russia|
|Minimum Deposit:||250 EUR|
|Cryptocurrencies:||Available – BTC, ETH, LTC|
|Types of Assets:||Forex, indices, commodities, stocks, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
How Safe Is It to Start Trading with AF Group?
AF Group’s main issue is the lack of transparency. While they claim to provide “healthy trading and serve in full transparency,” we know nothing. There’s no name of the owner, legal jurisdiction, or anything of value. If things go wrong, traders will be unable to start legal action. And that’s how their main benefit just collapsed.
As per prioritizing clients, this is true for as long as clients make deposits. Once they ask for a withdrawal, they see the broker’s true nature.
And speaking of responsibility, they did everything they could to avoid it. By staying anonymous, they directly disabled traders from pursuing responsible ones and recovering stolen funds.
Reasons Not to Trust an Unlicensed Broker
There are a whole lot of reasons to avoid unlicensed brokers. As you can see in the AF Group example, they can sell anything and hold to nothing.
You can be promised profits, trading software, and impeccable service. Yet, since no authority body controls their activities, such firms don’t need to provide anything they don’t want.
So Is AF Group a Decent Broker or a Scam?
Should you trust AF Group with your money and should this be your broker of choice? This detailed AF Group review will break it down for you.
Warning Issued by the Central Bank of Russia (CBR)
The Central Bank of Russia issued an official warning against AF Group. According to it, this firm provides illegal financial services to Russian citizens.
Usually, when one regulator bans the broker, others are to follow. Thus, we can expect afgroup.pro to be blacklisted in more countries.
What Do Traders Think Of AF Group?
Due to numerous issues, AF Group complaints are overwhelming the market. Customers say that they cannot get withdrawals, no matter what.
According to reviews, the company dissuades clients by promising bigger returns and better market opportunities. However, these alleged opportunities quickly turn to market losses, and eventually, traders have nothing to withdraw.
AF Group Trading Platform – Available Trade Software
Speaking of the missing information, here’s the biggest problem. AF Group says to offer AF Group WebTrader. Unfortunately, access to this state-of-the-art software is disabled. The broker requires customers to wait for their accounts to be approved. From our experience, you can end up waiting for several hours.
Since we weren’t immediately approved, we cannot confirm whether this web-based platform is available or is a part of the scam. However, we’re sure that finding a legit firm with MetaTrader is a far better choice. MT4 and MT5 have set themselves as industry standards, and choosing either of these platforms ensures fund safety and a variety of trading features.
AF Group Accounts Overview
AF Group has 6 accounts on offer, all requiring higher deposits.
- Starter – 250 EUR, 10% welcome bonus, leverage 1:20-1:80
- Premium – 2,500 EUR, 15% welcome bonus, leverage 1:80-1:100
- Premium Plus – 25,000 EUR, 10% welcome bonus, leverage 1:100-1:200
- Business – 50,000 EUR, 20% welcome bonus, leverage 1:120-1:200
- Luxury – 75,000 EUR, 22% welcome bonus, leverage 1:200-1:300
- Black Pearl – 100,000 EUR, 24% welcome bonus, leverage 1:500
Besides bonuses and leverage, accounts vary in terms of spread and enabled trading strategies, e.g., hedging and scalping.
Welcome Bonus and Referral Program Fraud
The company offers a 10-24% welcome bonus and a 20-26% refer a friend bonus. This is advertised as the generosity of AF Group, which is willing to participate with you in the trading process.
However, the Deposit&Withdrawal Policy has a clause referring to non-deposited funds. According to it, clients cannot withdraw their money before reaching 25 times the deposit plus the bonus amount. This has just turned generosity into fraud.
AF Group Broker – Countries Of Service
AF Group mainly targets residents of Australia and Bulgaria. However, others are not spared either. According to the CBR warning, we know they operate in Russia.
It’s only a matter of time before other regulators react, and we’ll see the full picture of the AF Group trading scam.
Ensure you don’t find your name on their list of victims. Avoid this bogus website by all means.
AF Group Range of Trading Markets
AF Group offers trading in the following markets:
- Currency pairs – EUR/GBP, AUD/CAD, USD/NOK
- Commodities – gold, silver, corn
- Indices – AU200, BE20, DAX30
- Stocks – Amazon, Google, Nvidia
- Cryptocurrencies – BNB, USDT, SOL
What Is Known About AF Group’s Trading Conditions?
Leverage and spread are vital when determining whether to engage with the broker. These are the main indicators of costs and risks that every investor is concerned about.
If the leverage exceeds the regulatory cap, it’s risky and indicates that you cannot trust your broker. The spread shouldn’t be too low. Otherwise, the firm cannot profit from commissions but plans to vanish with your deposit.
About Leverage and Spreads
The leverage with AF Group ranges from 1:20 to 1:500. Not only is this gap too wide, but the leverage violates regulatory rules. As per the spread, it can be fixed or floated, depending on the account type. According to the website, it ranges from 0.4-1.5 pips, which is relatively solid.
AF Group Minimum Deposit and Unfavorable Withdrawal Terms
The minimum deposit is set to be 250 EUR. Legitimate brokers have way lower demands, allowing you to start with $10.
Regarding withdrawal terms, there are hefty fees and bonus clauses. Both of these make the withdrawal process unnecessarily complicated. The minimum withdrawal amount for wire transfers is $250, which is quite a lot.
Methods of Making a Deposit
According to the Deposit Policy, customers can invest using:
- Debit/credit card
- Wire transfer
We cannot confirm or deny this without access to the platform or our account.
Scammed by AF Group Broker? – Let Us Hear Your Story
Being scammed by a phony broker such as AF Group is not a shame. These people will do everything in their power to extort your funds. However, you have to fight back. You must recover what’s rightfully yours, and we’re here to assist with the chargeback process.
But What Is A Chargeback?
This is a way for your bank to get your money back directly from the merchant. Our experts will evaluate your case during a free consultation to help you out. Don’t waste time; let’s act now!
What Is AF Group?
AF Group is a fraudulent trading platform that has been banned in Russia.
Is AF Group a Scam Broker?
AF Group has been blacklisted in Russia due to scam activities and illicit financial offers.
Is AF Group Available in the United States or the UK?
AF Group operates in the UK but doesn’t provide its services to US residents.
Does AF Group Offer a Demo Account?
AF Group doesn’t offer a Demo account or any access to trading software before account approval.