AIG Markets Review
There are thousands of online brokerages that have opened the door of trading in the financial markets from the comfort of your home, or anywhere else. It is simple and convenient and gives you access to lucrative opportunities to make money. Who does not want to see that happen? Everyone is eager to jump on the trading bandwagon, but you have to remember that not every broker deserves your trust. Yes, you have to trust a broker with your investment as well as your private data and you want to find one that is worth it. But, this AIG Markets review shows that you cannot believe everything you read about a broker.
This is because there are plenty of impostors operating in the market that are good at window dressing. They set up distinguished and believable websites that give every indication of being genuine and true, but underneath the surface, they are nothing but a sham. It will not be obvious in the first few glances, but once you dig beneath, you can learn the truth about the company and make your decision accordingly. If you decide not to do so because you want to start quickly, you could end up risking it all and end up empty-handed.
Instead of dealing with such a possibility, it is better to take a bit of time and check out a brokerage thoroughly in order to ensure it can be trusted. This will give you peace of mind and allow you to focus on your trading without constantly worrying about the safety of your personal information and the security of your funds. This tactic can certainly benefit you in the case of AIG Markets that claims to be providing its services to thousands of investors and traders all over the globe.
At AIG Markets, you are promised trading of crypto coins, forex currency pairs, stocks and a variety of CFDs. You will also find top-notch trading conditions available, which include fast execution, competitive pricing and the excellent security. All of this sounds downright incredible and you would want to sign up with AIG Markets, but doing so is a mistake because you have to first verify whatever they have claimed. It turns out to be wise move. How? Let’s find out:
No regulation and licensing
If you want complete peace of mind during online trading regarding the safety of your money and data and about the quality of services being offered, you should always go with a licensed and regulated brokerage. These companies are supervised by a regulatory authority and have to comply with laws and regulations, along with maintaining high standards that are in your best interests. Therefore, you should ensure that AIG Markets is a regulated and licensed brokerage before you sign up.
When you check out the background of the broker, you will find that AIG Markets claims to have its office located in London, United Kingdom. If that was the case, then the broker would have to have a license from the Financial Conduct Authority (FCA). The FCA is the regulatory body of the UK and one of the world’s most renowned regulators, so a license from it is considered extremely valuable.
But, when you run the name of AIG Markets in the FCA’s online register, you will not find the brokerage listed. Moreover, since they have not bothered to disclose the name of the company that owns and operates the broker, there is no way to determine who is behind the broker. You will come across some other conflicting information when you go through the Terms and Conditions on the AIG Markets website.
According to the Terms and Conditions that are mentioned, AIG Markets should comply with the laws of Saint Vincent and the Grenadines, which is an offshore jurisdiction and is considered home of outright scammers and shady companies because there is no regulatory oversight where the forex trading industry is concerned. In addition, you will note that SVG is mentioned in small letters in the T&Cs, which shows that the brokerage is trying to conceal this information from its clients in order to fool them.
Availability of trading bonuses
Things get worse when you discover that AIG Markets is also offering trading bonuses, a practice that has been banned in a number of jurisdictions around the world. This also includes the United Kingdom, where AIG Markets claims to be based. Thus, the fact that it is offering these bonuses shows that it is lying about being located in the UK, or is operating from there illegally. The reason these trading bonuses have been banned is because they have strings attached that are designed to exploit traders.
You will find things to be no different when you check out the bonus policy of AIG Markets because they also have a minimum trading volume requirement that you have to fulfill before being allowed withdrawal. It is also important to note that the broker claims to have the right to change their bonus policy whenever they wish. This means that if you come close to achieving their requirement, they will simply change it.
Another worrisome aspect of their bonus policy at AIG Markets is a mention of Estonia, which creates further confusion about where exactly the broker is based. Nonetheless, it cannot be operating from Estonia either because it is part of the EU and has also banned bonuses.
The fact that AIG Markets is offering leverage as high as 1:400 may appear to be attractive to some, but it is worth nothing that such leverage ratios are not permitted in the UK, or the EU. A leverage cap is applicable because leverage is extremely risky, which means AIG Markets should not be offering you such ratios.
Unproven trading platform
Even though you are promised a cutting-edge, reliable and powerful trading platform at AIG Markets, you will find an unproven platform that does not even come close to the market renowned MT4 and MT5 trading platforms that are a favorite of traders.
Put everything together and it is obvious that AIG Markets is not worthy of your trust at all.