Review of AFS Equity: 5 Reasons To Stay Away From This Trading Con
AFS Equity is owned by AFS Equity LLC. This corporation doesn’t provide any ownership information to the clients. Once we did our research thoroughly, we found that there is no information available about the headquarters country.
|Blacklisted as a Scam by:
|AFS Equity LLC
|YES – BTC, BNB, ETH
|Types of Assets:
|Forex, Indices, Commodities, Stocks, Cryptocurrencies
|Free Demo Account:
|Accepts US clients:
Therefore, we can’t know under what country legal jurisdiction they comply. Besides that, the company doesn’t have any license for trading on Forex and CFD.
Details About The AFS Equity Broker Scam
Starting from the website it is anonymous. They are luring their clients with false advertisements about automated systems. Agents are trying to sell you your dreams.
Since the company doesn’t have any regulations, your funds wouldn’t be safe at all. Moreover, you don’t have anybody to contact since they don’t provide any customer service phone.
Checking every detail about AFS Equity, we found it’s nothing but a scam. If you just look for standard information, you can’t find it. Whether it’s a license, registration or phone number. Avoid this company for good.
Arguments For Trading With a Licensed Broker
First, a licensed broker needs to disclose a license number for trading on Forex and CFD markets. Second, they would provide with headquarters country, registration number, contact and ownership information.
All of that is missing with AFS Equity broker. We wanted to double-check and in the register of Tier 1 Regulators, we found nothing about them.
For example, those would be FCA, BaFin or ASIC.
Financial Regulators’ Warnings as a Red Flag of a Scam
The situation is even worse when a company has warnings against it. Like AFS Equity trading has. Before that, they would maybe get out with some shady explanation.
But now, when you know that regulatory institution is warning against it, it’s serious. We found such a warning with AMF Quebec.
Analysis of Customer Reviews Related to AFS Equity
If you check other AFS Equity reviews all you’ll find are negative reviews. Only people who are complaining about losing money with this trading scam.
Unfortunately, it’s only a few people expressed themselves about this scam. We found only 1 review on Trustpilot which is rated 1 star. Others might be removed.
AFS Equity Trading Platform – Available Trade Software
As the company states, its trading platform is earning awards on every corner. Reality is a bit different. Besides lies about the availability of the MT4/MT5 trading platform, their web trader is nothing but trash.
It offers only a limited amount of TA tools and nothing of newly developed trading options. So, we can say that advertisement for MT4/MT5 is just a trick to get you on board.�
What Financial Instruments Does The Platform Include?
The company offers access to 5 classes:
- Forex USD/JPY, NZD/CAD, GBP/EUR
- Commodities Natural Gas, Gold, Platinum
- Indices DowJones, FTSE100, CAC40
- Stocks Microsoft, Facebook, Pfizer
- Cryptocurrencies BTC, BNB, LTC
The problem is if those assets have real-time data. Many platforms like these, could be manipulated through the back end. The reason for that is to present fake profits to its clients.
As a result, people end up throwing more money away to these bogus scammers.
Areas Of AFS Equity Scam
AFS Equity broker is scamming traders from:
This way they cover a wide range of languages and populations. These countries don’t have so developed security against scammers. That’s exactly why they are directly targeted.
AFS Equity List of Account Types
This company offers 4 different live trading account types. Those are:
- Standard 1000$
- Silver 5000$
- Gold 25000$
- Platinum 50000$
Accounts are more probably fictive. The idea is that you have cards to play when you miss ideas on how to lure clients to put in more money.
AFS Equity Demo Trading Account
Unluckily, this broker doesn’t offer access to a demo trading account. Those are speculative amongst traders.
Some say it’s good to check the availability of the features. Some say it’s dangerous because you learn how to risk money.
Try it out yourself and see how you like it. But make sure you do that with a licensed company.
Register by Entering a Promo Code
To register with the company a Promo Code is required. Usually, those are obtained directly through a broker agent.
As a result, they trick you to bring more people in by offering some advantages and benefits in trading. That’s why those people who got recommendations get a promo code.
Promo code for a disaster if we could say.
Bonuses and The Terms of Their Receipt
Another trick from the sleeves is bonuses. Those are not allowed in any regulated company. Especially not the ones with Tier 1 Regulations.
If you deposit another 50.000$, you get a 50% bonus on top of that. You would think it’s a great deal.
But once you get information that you need to make 30 times more than that bonus it’s too late.
AFS Equity Terms and Conditions
All terms and conditions mentioned on their website are questionable. Since they are not licensed, they can write whatever they want.
Moreover, even those written are not completely clear. And the only way to find out whether it is reliable is to try it out.
To sum it up, you better check AFS Equity reviews, before making your first moves.
Leverage, Spreads and Commission
Leverage information is not disclosed for all assets. It’s only mentioned that you can get a 1:5 ratio for BTC trading. For a volatile asset like Bitcoin, even this is too much.
Spreads range from 1.3 up to 2. Those are insanely high compared to what licensed trading companies are offering.
A commission for all account types is 0$. They don’t present any hidden fees or charges. But you never know with scammers like these.�
AFS Equity Broker Scammed You? – Please Tell Us Your Story
You should not blame yourself if you were caught in a scam. You can learn from your experience. Next time, after an AFS Equity review like this you will know what to do.
In any case, if you were a victim, there is still a solution. To get a free consultation about a chargeback process, get back to us now!
What Is the Chargeback Procedure?
It’s not a magic wand, but it is a powerful tool. If you have knowledge about chargeback in your arsenal you shouldn’t be worried.
It is simply reversed transaction when a Debit/Credit card is used. Usually, cardholders request a chargeback, but it can be performed by a merchant as well.
To know what is your first step, contact us now!
FAQ About AFS Equity Broker
What Is AFS Equity?
It is a non-licensed anonymous trading company offering services to clients from Canada, Australia, Spain and Italy.
Is AFS Equity a Scam Broker?
Absolutely. They are hiding all crucial information about themselves.
Is AFS Equity Available in the United States or the UK?
Because of the high level of security, they don’t provide services to US or UK clients.
Does AFS Equity Offer a Demo Account?
AFS Equity doesn’t offer a demo account but only live trading accounts.