Astrofxtime promises to help people “harness the power of real-time multi-asset trading on an epic scale” (whatever this should mean). They offer Forex, Indices, Commodities, Equities and Futures allegedly traded on MetaTrader4 and MetaTrader5. The broker also claims to be global, multi-regulated and to provide deposit insurance. In reality, Astrofxtime is a fraudulent clone firm offering investment plans yielding unrealistic returns on investment. This is a scam, and we are going to prove it in the full Astrofxtime review.
Astrofxtime REGULATION AND SAFETY OF FUNDS
Astrofxtime is a clone. That’s because they are using the license number of a genuine UK company (Infinox) without being authorised to do so. So, Astrofxtime is impersonating a regulated entity to present the fraudulent scheme as legit. That’s an approach called firm cloning, where scammers pretend to work for licensed companies to take investor’s guards off. Anyway, we thoroughly researched the register of the British regulator FCA, but Astrofxtime was nowhere to be found. Therefore, your funds will be in danger because Astrofxtime is a clone firm and a scam.
Avoid it and consider the high-rated EU brokers and British brokers instead. We recommend them as they are competently regulated and, most importantly, covered by deposit insurance funds. Namely, if you trade with CySEC brokers, you can claim up to 20 000 EUR in compensation, while the British protections are up to 85 000 GBP per person. Europe is safe, and it’s worth opening accounts with companies holding EU or UK licenses.
Astrofxtime TRADING SOFTWARE
Astrofxtime provides no functional platform. Upon registration, people will end up with a chart only, which is useless for trading. Still, things are getting even fishier because the so-called broker is offering suspicious investment plans securing unrealistically high profits. For more information, see the picture at the bottom of the next section, but bear in mind that Astrofxtime is a scam you should avoid no matter what.
Instead, have a look at the high-rated MetaTrader4 brokers and MetaTrader5 brokers, which are also delivering the best distributions available. We recommend MT brokers as their terminals are packed with sophisticated features such as Expert Advisors, complex indicators, and excellent charting tools. MetaTrader also comes with a peerless advantage- a Marketplace where people can choose from more than 10 000 apps and other trading solutions if they want to increase their chances.
As there is no functional software at hand, we can’t show real-time spreads and leverage levels. The broker doesn’t mention anything either, but we need to note that leverage is utterly risky, and it’s even a part of the regulatory framework in many jurisdictions worldwide. Namely, licensed EU, British and Australian brokers have to limit retail clients to 1:30 for FX majors, while Canadian brokers and US brokers to 1:50. High-leverage offshore brokers are poorly regulated or not at all, so you’d better be suspicious about their offers.
Astrofxtime DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit is a matter of inconsistency. According to the FAQ page, it’s 1 dollar, but upon registration, it turned out that people should invest no less than $200. Whatever the case, though, the broker in question is already proven to be fraudulent, so you shouldn’t put even a dollar there.
The funding methods are supposedly Wire Transfers, Bitcoin, Ethereum, Litecoin, Credit/Debit cards, PayPal and PayStack, but we can’t verify all of these are actually accepted. Nevertheless, bank card direct funding is the safest option among those because it allows chargebacks for up to 540 days, depending on the case.
Anyway, as Astrofxtime is a scam, we’d like to offer our lists with Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have trusted payment systems. The companies topping the lists are competently regulated, and you won’t face scammers if you choose among the high-rated ones.
Information about withdrawals and transaction fees is not at hand because Astrofxtime doesn’t have legal documentation. In fact, there are links to some documents with provisions, all of which broken, though. Well, we didn’t expect a dirty clone to have Terms or User Agreement, but the absence undoubtedly proves yet again that the reviewed broker is illegal.
Overall, Astrofxtime is a scam scheme we just exposed. Make sure to stay away from it and report immediately to the authorities if they approach you.
HOW DOES THE SCAM WORK
Today, the Internet is plagued by scammers and their tricky deals. It all starts when you click on an appealing fraudulent offer and provide your e-mail and contact numbers. Scammers, as seasoned manipulators, would ring you at once, insisting that you should start investing as soon as possible. During the phone call, you’d be presented with bonuses, promotions, risk-free offers, Bitcoin opportunities, and anything else you could possibly imagine. Scammers would claim to work with reputable firms, banks, governments, and so on, trying to make their business appear legit. Those thieves lie big time and would promise you anything to gain your confidence and get a deposit from you.
However, the first deposit is just the beginning. Day by day, scammers would carry on asking for funds. If you lost, they’d persuade you to put more money and recover the losses. If you are profitable, you’d be asked to put more money and increase the gains. The headaches start as soon as you ask to take your money back. The scammers would do whatever it takes to discourage you and would even urge you to deposit again if you want to withdraw. The scammers’ mantra is “give me your money”, they’d push you to transfer more money over and over again for no obvious reason. Urgency is a treacherous sign, so if someone forces you to invest ASAP, that’s a scam.
WHAT TO DO WHEN SCAMMED
Unfortunately, no one is safe from scams. If you get defrauded, the first thing you need to do is to protect yourself from further risk. Deactivate your card immediately, contact your bank and ask for advice.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!
Remember, it’s crucial not to rush blindly trying to recover your funds because fraudulent fund recovery agencies are trying to double scam the victims. They ask for upfront payment, take the money but don’t do anything to help you!
Last but not least, share online your experience; it’s important to inform the public about scams. Be responsible!
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