In this review, we will describe why AFX Group is a scam that you should avoid at all cost !
Is AFX Group Legit?
Looking at AFX Group website, it shows that they are owned by AFX Markets Online. AFX Markets Online is located in Saint Vincent and the Grenadines, a well-known offshore zone and a preferred location for shady brokerage. AFX Group is an unregulated broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why AFX Group is a dangerous broker to deal with.
Are Funds Safe with AFX Group ?
With such lack of information and AFX Group being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is AFX Group is withholding vital information to users.
AFX Group could go bankrupt from one day to another since there are no banking information about this broker.