When dealing with brokerage it is important to select a few most reliable and transparent brokers.
ASIC has recently advised that Ashford Investments might be involved in a big scam. It also advises us to not deal with this business as it is not a licensed one in Australia.
Ashford Investments is one of those unregulated brokers who offer forex trading. These brokers claim to be fully safe and secure and they offer a 100% bonus available for new traders.
Traders who are willing to open an account with Ashford Investments must read this review thoroughly to know significant information about this broker.
Ashford Investments is not a licensed brokerage firm that was launched in 2017 (they have not provided the launch date on their website, so other online sources reveal that for us). Their website is owned and run by the Teres Media BG Limited that is located at Bulv. Gen. Totleben 53-55, Sofia 1606, Bulgaria. However, some of the online sources say that they are located at Business Park Varna, Building 8, 4th floor, Varna, Vladislav Varnencheck, 9009, Bulgaria. Neither of the addresses are confirmed as of now.
Teres Media Ltd. is the owner and operator of Ashford Investments. Their website mentions the address as Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro Marshall Islands.
Some sources have also found out that they are operating from the notorious Ajeltake Road. All the brokers who are operating from this location off-shore are unregulated and all of them are scam artists.
The website has also another address as Masterpay Ltd. 60/89 Mir Jalal Street, Baku, Azerbaijan.
It was also notices that the address was Gen. Totleben 53-55. Sofia, Bulgaria.
There was another address that said Business Park Varna, Building 8, Vladislav Varnencheck, Bulgaria.
So frequently they change their address that is sparks a doubt about their operations. However, now the broker has settled finally in the off-shore address to avoid issue of the public warnings from the regulatory authorities of Bulgaria.
Ashford Investments Is A Scam?
This unregulated brokerage is lacking transparency severely and provides very less to no information at all about their company. All you can get are words buzzing over and over again like the best, easy, fast profits, every body can trade. After spending quite some time on the website and reading what the clients are talking about on other websites and forums, it will not be wrong to assume that Ashford Investments is truly a scam. There are quite a few people who have claimed that they have been doomed by Ashford Investments. There are longer stories about ow it takes place and the scam makes people lose money.
Why Does Ashford Investments Suck In 50 Words
These people don’t know the basic difference between Contracts For Difference (CFD) and Binary Options. While explaining how to trade CFDs, they will tell you that you will select Call if you expect the price to rise and Put if you think that the price is going to fall. After that you need to approve the trade and wait for the option to expire. Also their trading platform displays only the CFD but they tell you about binary options all through out the website (also their Accounts show the potential payouts in percentage, which is a characteristic to BO).
Ashford Investments Complaints
The traders who rely on Ashford Investments have come to know recently that this broker is not aware of the basics even. The representatives cannot even draw a differentiation between Binary Options and Contracts For Difference (CFD). The content given on the website on Binary Options falls under the CFD category.
What makes us worry is that the platform only facilitates CFDs whereas the web content keeps promoting the Binary Options. They just copy from the competitor’s website without even understanding what they want to communicate to their customers. It is basically just attracting traders with high and false hopes.
For a quite a few months, the website was incomplete. Clients were complaining about the errors made in the statistics of the graph. It was slow or incomplete. Also, the website did not have the FAQ section which is more important.
Then follows the most problematic issue that is the failure of the withdrawals. It is very difficult to get back your funds. The account managers keep manipulating the traders to invest more. A lot of the clients have complained about being bugged by the tactics of the account managers. These are the signs of fraudulent, scam artists. Once you keep bugging your clients, they become manipulated. Sometimes this pressure makes them invest more money and then fall into the trap.
Their website is incomplete and their “real-time” graph displays EUR/USD at 1.16xx when in reality it is at 1.19xx. So that is 300 pips indifference and they do not even have an FAQ section which is very basic. One positive thing is that it has a brief explanation of what cryptocurrency is.
Should You Open An Account With Ashford Investments?
The platform for trading is offered by SpotOption and it is a web-based, so that means you will not need to download or install any software. This is one platform that is one of the most popular among Binary Options and CFD brokers, so it is an assurance that it works as it must but that is where the good news ends. The brokerage is unregulated and has made a very bad reputation online as people are complaining all over the internet. The complaints are basically about failed withdrawals and the money being lost.
The lowest deposit required is $250 that they call an account “Bronse” but they might have meant Bronze. However, they recommend beginning with the Silver account. This has a minimum of $2,000 and they claim this is the perfect start for early traders. But in reality the perfect account for beginner traders is a Demo account or an account that requires them to trade at a very low amounts. Depositing $2000 with an unregulated and an unknown broker with a bad online reputation is NOT at all safe!
The education section is more or less the same that you will find on all other SpotOption brokers but the added portion about cryptocurrencies is good but it would not after all make you a Bitcoin expert after reading it.
Mostly, experts never recommend opening accounts with unregulated brokers and Ashford Investments falls under the same category. They don’t have any unique feature that you will not find with other brokers. Therefore, if you are looking forward to open a binary options account, you for sure have other better choices than Ashford.
Ashford Investments Complaints
The Internet is full of people accusing of Ashford of being a Scam! They are complaining about not getting back their money from Ashford Investments. The account managers are forcing with high-pressure tactics on clients to make them deposit more. They use every scam trick on the public to make them invest money. Stay away from them if you do not wish to be scammed by these people because their complaints go unheard to deaf ears.
Ashford Investments Regulatory Announcements And Warnings
The Ashford Investments is very newly and because of this there has been no complaints or scam alert given to them by the regulatory bodies. But that does not mean they are honest and safe. The number of negative reviews make it clear that they are not safe to be traded with and need to be careful in dealings with them. The number of complaints are rising by the day and hopefully the regulatory body will soon put some light on them issuing a warning notice for the public.
Ashford Investments Bonus
With the greed of the bonus they offer lot of people fall in the trap. The Silver account ($2,000) provide the clients with a 50% bonus, that goes up to 100% for the Platinum and Diamond accounts. The required turnover is (deposit + bonus)*20 and in case the client wants to withdraw before that, the bonus and profits is going to be canceled.
Ashford Investments Withdrawal
The methods for withdrawal are credit cards and wire transfers. There is a minimum of 50 account units for the credit card and 100 account units for the wire transfer. Going by their website, to process the request it takes about a day i.e. 24 hours and about 5 to 7 business days to get the money. But people on the internet have complained that it takes forever to get their money back and some have been not returned the money even after a year! It becomes frustrating after a time. People do not get their own money!
Ashford Investments Extras
Crypto currency trading is the only extra advantage but there are many other good traders who offer Bitcoin and altcoins at a safer assurance. Ashford Investments have not mentioned their trading terms and conditions anywhere so it is difficult understand their strategy to scam people here.
Ashford Investments Ratings
User Friendliness 12/20
The website is half finished and it is also not accessible from all the countries around the world. Then there’s the entire BO/CFD confusion, as on the website they promote Binary Options but on the platform you will only find CFD. Even, they use the term CFD at times but explain Binary Options. The website can be read in translations of only 3 languages.
Number Of Assets And Expiry Times 12/20
The asset basket has 9 stocks, 4 indices, 2 commodities, 24 currency pairs and there are more than 30 cryptocurrencies, that includes Bitcoin, Bitcoin Cash, Dash, Litecoin, Ethereum and other altcoins. The cryptocurrency range offering is really wide and it is the best offering in their Asset Index. However, they do not provide any information about expiry periods as they only got CFD on their platform.
Commissions, Support And Effective Return 11/20
On the website, they claim they do not charge any fees but during the Legal documentation, one will find a $25 fee for the withdrawals. Many people could not reach Live Chat on various occasions. According to the Accounts page of them, the effective return rises up to 82% for Bronze, Silver and Gold accounts and up to 87% for the Platinum and Diamond accounts which have a minimum deposit of $25K and $50K respectively.
Deposit, Payment And Bonus 12/20
The minimum deposit amount is $250 while the minimum withdrawal sum is $50 for credit cards and $100 for the wire transfers. These are the only ways to deposit or withdraw the amount and there are no e-wallets. For the Silver account there is a minimum deposit of $2,000 and clients will receive a 50% Bonus, that rises up to 100% for the Platinum and Diamond accounts. The turnover needed is (deposit + bonus)*20.
Website Extras 10/20
The crypto currency offered range is really wide and that’s the only advantage that is extra on the website.
As a final verdict, the website is full of discrepancies and has every red alert regarding scam. As the graphs show false statistics they are not reliable at all. You will not be able to earn a single extra buck with them instead lose whatever you invest. The content of the website is confusing for the traders. Also, the negligence of the owners to not get a license after a year is another big NO sign for traders to deal with them. Also the location where it deals probably from is popular for scams. So you can well understand what consequences you can call if you trust them with your money.
Many of the Ashford Investments traders are facing problems while withdrawing their funds and as a result they they have lost their hard earned money.
You can read the reviews in the link given below https://dirtyscam.com/reviews/ashford-investments/
The only positive things about Ashford Investments seemed to have been written by people who are paid to say all the good things for promoting the company. Apart from that, literally everything is negative, and there are also a massive number of complaints regarding withdrawal issues so it is safe to say that we do not recommend you to trade with Ashford Investments as they share a lot of characteristics with other common binary options scams.