Read our AssetGroup review to see if this broker is a scam or legit. Just to clear doubts, this is a assetgroup.pro review.
The search for an online broker is fraught with challenges that you have to navigate carefully in order to find the best company for your trading needs. Even a slight mistake can have long-term consequences because if the brokerage does not offer you the right conditions, software, or even the assets you want, you will end up wasting time and money. Of course, this is something you want to avoid. How can you do that? This is where you can take advantage of this AssetGroup review.
The important thing to remember is that you cannot depend on the company to tell you about its issues. You are responsible for uncovering them and this means doing some research. It can be very tempting to skip all of it and just sign up directly to start making money. But, you have to keep in mind that there are a number of scams that also exist. These are well-aware of how to disguise their true nature and you can become a victim if you are not careful.
Therefore, when you come across a brokerage online, you should take everything they tell you with a grain of salt. It is the norm for businesses to promote themselves, but it is your job to sort through all of the data to find the truth. Even if it takes a bit of time, you can rest assured that you will make the right decision that saves you from losses in the future. You need to take the same route in the case of AssetGroup in order to ensure you are not making a mistake. It is good that you decide to do so because you will find out that it has many issues, which are mentioned below
A serial scam
If you take a look into AssetGroup and its parent company Widdershins Group Ltd., you will come to learn that this is part of a serial scam. It is the norm for scammers to set up a bunch of similar websites under different names in order to scam as many people as possible. This one seems to be doing the same and has been flagged by a number of regulatory authorities.
As a matter of fact, AssetGroup is the reincarnation of another broker by the same name that was founded by the same company. The only difference was in its domain name, which was assetgroup.io. The most notable thing about its predecessor is the fact that the Spanish regulatory authority i.e. the CNMV had issued a warning against it.
Lack of regulation
As you continue doing your research into AssetGroup, you will find additional issues. Another vital aspect of the brokerage that should alert you right away is its lack of regulation. The best way for you to avoid a scam is to opt for a regulated platform and this certainly isn’t one. If you take a look into its background, you will find that it claims to operate from the Commonwealth of Dominica.
It is an offshore zone, which is a hotbed for scams, because the forex industry is not regulated there. Thus, it means that anyone can form a business and have to answer to no one. Moreover, when you check out the address mentioned on the AssetGroup website, you will notice that it is similar to many of the scams that have already been identified.
These fraudulent platforms only intend to create an illusion of legitimacy to fool people and are not really regulated. This means that trading with AssetGroup would definitely be unsafe because they cannot be held accountable and can disappear without warning. It also means that you cannot get any sort of protection, such as segregated accounts, or negative balance protection etc.
Malicious bonus policy
It is a must for you to go through the Terms and Conditions of a broker before signing up because you need to know about their policies and rules, along with the costs and fees they will charge. This can help you avoid nasty surprises in the future in the form of excessive costs, or strange policies. As far as scam brokers are concerned, they tend to have some common policies that are downright malicious and you will find one at AssetGroup as well.
Their Terms and Conditions have the Non-Deposited Funds clause, which has become quite notorious amongst fraudsters. As per this clause, traders cannot withdraw profits generated through the bonuses given to them by AssetGroup during the course of trading.
First off, you should note that AssetGroup is offering trading bonuses, which might appear to be lucrative, but you have to remember that this practice has been banned in many jurisdictions. This is because of the strings attached to these bonuses, which are meant to exploit people. This is evident here as well because the bonuses that are you are given at AssetGroup are used to prevent withdrawals.
Since it claims to not allow withdrawal of profits generated via bonuses, it means that AssetGroup will not let you withdraw at all. This is because there is no way to physically distinguish between the profits generated via bonuses and those via your own deposits.
Crypto payments only
Another aspect of a brokerage that deserves your attention is their payment methods that you will use for depositing and withdrawing your money. You obviously want to make your payments as quickly as possible and while ensuring the safety of your funds. When you check out the payment methods that AssetGroup supports on its platform, you will find that only crypto payments are accepted.
This is a big issue because crypto payments are anonymous and final. This means that you will not be able to get a refund from AssetGroup in case something goes wrong. This option is only available when you use credit cards for your deposits. Crypto payments cannot be reversed and make it easier for scammers to disappear with your money due to their unregulated nature.
The issues that you uncover about AssetGroup make it clear that you should not open an account with this broker.