Asco Global Review
Who doesn’t want the best trading experience? When you have made up your mind to invest in the financial markets, you obviously want to achieve your financial goals and tap into the lucrative opportunities available. It is vital to understand that the broker you use at the end of the day is a key ingredient in this recipe and even a little mistake on your part can be quite costly. Why? This is because scam brokers are certainly not a new concept; these are fraudulent and shady platforms that are only after your money. You need to go through this Asco Global review to understand just what issues can pop up.
The biggest problem that people encounter is that at first glance, most brokerages will appear to be reliable and comprehensive, as does Asco Global. As a matter of fact, they tend to have some good offerings that will catch your attention and might even convince you to give them a try. This is how people end up getting scammed because they don’t realize they are making a mistake until it is too late. You need to remember that making a website is very easy these days and anyone can promise you anything.
It is essential to verify the claims that brokers make in order to ensure they are worth trusting and you need to do the same in case of Asco Global as well. The hurdle here is that they have deliberately added some features that can often confuse people. What are they? Let’s check them out:
The MT4 trading platform
The first surprise that you will find at Asco Global is that this broker is offering you a fully-functioning MT4 trading platform. Even if you have no prior trading experience and are new to the industry, you can easily discover that it is the top trading platform in the market. It is a favorite of top traders and offers excellent features, such as MQL marketplace, Expert Advisors for automated trading and the ability to customize the platform. Even a demo account is available, which seems like a great perk.
Low minimum deposit
Another feature that you will find appealing about Asco Global is that it asks for a low minimum deposit of $250 for opening a trading account with them. This is considered the standard amount that a number of other professional brokerages also ask for, so it can be reassuring. After all, you expect scam brokers to demand a hefty minimum deposit and this doesn’t happen here.
Nonetheless, these offerings do not guarantee that there are no problems with Asco Global because scammers are known for deliberately luring people in with such features, only to steal their money. This is also the case here because there are a number of issues you will find about Asco Global. Some of these are:
There is no licensing or regulation
A reliable and professional brokerage will have a proper license to offer trading services and will be regulated by a renowned authority in the country where it is based and operating. Considering that Asco Global claims to be a great platform, you would expect it to be properly licensed and regulated. However, a look through their website will show you that they have not mentioned anything relevant to it. This is certainly alarming because a good brokerage should definitely highlight their licensing and regulatory status.
The only information that Asco Global provides is that it has its offices in Australia and Hong Kong. In order to operate from these regions, the brokerage would have to have a license from their respective regulatory authorities. This would be the Australian Securities and Investment Commission (ASIC) and the Securities and Futures Commission (SFC) in Hong Kong. But, when you check their registers, you will not find Asco Global listed, which means it is not operating legally from these areas.
Absence of Terms and Conditions
One of the most important things about a broker are their Terms and Conditions, Client Agreement or Legal Documents because these provide you with some essential information about your relationship with the broker. They highlight the policies and rules you would have to comply with, the trading conditions that will be available and the fees that will be charged.
The problem is that you will not find any of these documents available on the Asco Global website, which is not something you can expect from a legitimate brokerage. It should immediately send up a red flag because an authentic platform is open and transparent about its offerings. Lack of these documents gives the broker room to exploit its clients by charging salty fees or making them comply with absurd rules and policies.
No mention of leverage or payment methods
Another problem that you will spot when you go through the Asco Global website is the absence of some other essential information that can play a role in your decision. First off, they have not mentioned what kind of leverage they offer and this is a problem because you don’t know how much flexibility you will have during trading.
Secondly, you will not find what payment methods Asco Global supports on its website, so you cannot determine if they are quick, convenient and safe. Plus, you also want payment methods like debit and credit cards that qualify for a chargeback, so you can get your money back in case of a problem. But, no information is provided in this regard, so you have to go in blindly.
When you use the demo account that Asco Global offers on its platform, you will come to know that they are charging spreads of 1.9 pips for the EUR/USD pair, which is undoubtedly on the high side from the market average. Why would you want to pay more for such shoddy services?
All of these issues that you discover about Asco Global make it clear that no feature or offering makes it worth it to open an account with this broker and get scammed.