Are you planning to trade with a reliable broker? Then better start with your research now as trading with Aswaq Today is not a safe option at all. Clients in association with this broker have several options regarding accounts. They can easily select their most suitable accounts on the basis of the initial investment.
Aswaq Today Targets Arab Countries
Each and every account will offer exclusively high leverage and trading that is free from commission. As per my Aswaq Today review, this broker mainly targets from Arab countries. There are special schemes which ensure swap-free Islamic options that comprise a high initial deposit.
But still, you should refrain from investing here. Do you know the reason? It is not a safe option to invest in a company that operates without having a valid license. Also, it is devoid of any regulation that permits trading with spreads that are wider than four pips.
How Aswaq Today Differs from Other Brokers?
Generally, brokers with high reputation offer maximum two pipes. If you compare Aswaq Today with any reputed broker, then you will come to know that the latter provides a maximum of one-and-a-half pips. In such cases, there remains a doubt that how Aswaq Today is offering a higher return.
Aswaq Today offers the opportunity for trading in minimum thirty pairs of currencies along with various CFDs. It is a successful market maker. Market makers earn more when their clients suffer losses, and you should keep this point in mind.
The company that operates behind the brand is none other than Pro Silver Holdings Limited. It is an offshore company in the Marshall Islands. Also, it holds the followings:
- UK subsidiary
- Silver Crow Partners LP
Unfortunately, none of them holds regulation by the Financial Conduct Authority.
What is the Specialty of Offshore Brokers?
Basically, brokers operating in offshore countries work the way they like. There is no chance that clients will know what will happen to their money. They are not under the supervision of proper regulatory and rigid requirements. Due to such risks, it is better not to do business with any offshore broker like Aswaq Today.
If you are planning to get the financial services from a trustworthy body, then better have a discussion with top traders nearby. You may go through the reviews to get an idea about the way those bodies operate on a worldwide basis. Better stay away from Aswaq Today as its workings are similar to offshore brokers.
Aswaq Today Does Not Hold a Legit Trading License
The website features a particular address along with a contact number, but everything is vague. It is really difficult to understand which company is operating the brand. The broker always says that it holds a valid registration, but cannot provide any genuine proof. It has almost all types of signs of a typical forex scam.
And you shouldn’t do business with a forex broker that shows such signs. When a broker lacks proper licenses, it means your funds are in the hands of a party that isn’t trustworthy. Regulatory authorities keep such brokers in check but offshore brokers operate from outside their jurisdictions. In other words, there’s no one who can keep this broker in check and that’s a very risky situation for any trader.
What is the Trading Platform of Aswaq Today?
The platform that a broker utilizes in trading plays an important role in determining the overall performance of the same. Similarly, unlike maximum brokers Aswaq Today does not support the exclusive MT4 (MetaTrader 4) platform. Instead, it offers access to Sirix that is available for the internet as well as mobile versions.
Sirix is easy to use and doesn’t require any installation. The main advantage is the in-built social service system. Through this feature, you will be able to come across what other traders are doing in real-time. Aswaq includes the usual package for charting and technical indicators that will help traders to analyze the market in a proper manner.
What are the Methods of Payment in Aswaq Today?
In order to start trading, you need to invest your money initially. In this digital age, making payments isn’t a big hassle. Aswaq Today supports the following modes of making initial investments:
- Wire transfer
- Credit card
- Debit card
- Electronic wallets including Skrill, Neteller and Ukashi
Surprisingly, there are numerous ways of making initial investment; but no methods to withdraw money. There will be several pros and cons in association, but finally the result will be nothing.
Lots of Fraud Cases are there in Aswaq Today
There are lots of fraud cases that are there with Aswaq Today. The moment you ask for assistance, you wouldn’t get any response. If you request for money withdrawal, then you need to fulfill several conditions. They will block you and loot away all your money. Even if you send emails, there will be no response at any cost.
Aswaq Today will close your account without any prior information. In short, they serve as con artists that use their websites for trapping people to steal their money. If you value your money, then it is better to beware of this company and any of its representatives. They use several numbers to call people and loot them in a tricky manner.
Information is Not Clear with Aswaq Today
Generally, every broker presents a demo account for the convenience of traders. It seems to be standard fare. Unfortunately, Aswaq Today does not follow this standard in any way. Recent Aswaq Today review states that it is still on its way of evolving and is struggling to reach its maturity level.
Though the website is clear and easy to navigate, the information is not clear. Vital pieces of information are missing. Though different trading accounts are available including:
A separate Islamic account is also there. Still, traders need to take best care at the time of investing their money here.
Aswaq Today Promises Unrealistic Returns
Aswaq Today promises to provide unrealistic returns to all its clients. It is much higher than the usual rate in the ongoing market. These activities are generally carried out by scammers. They utilize this trick to attract lots of users towards them.
A broker that is not transparent in its activities and procedures will not provide you an appreciable amount in return. It will always lay the roadway to loot all your money in a very clever way. Aswaq Today is one of them. Better take your time to research and get in touch with a reliable broker where you will be able to carry on with your trading peacefully. Every step will be easy to understand.
Aswaq Today Does Not Involve any Live Chatting Support
Nowadays, live chatting support is a common feature in almost all companies. Unfortunately, Aswaq Today does not include this exclusive feature. There remains a small doubt that it is a scammer. The website that does not feature live chat supporting features will be able to remain aloof from its customers.
It will be very difficult to get clarification regarding your investment. Also, you will not be able to understand what is happening to your money. Hence, it is advisable to stay away from such scammers that play relentlessly with money of others.