AitsFX broker stands out as one of the most easily recognizable scammers. How? No regulation, no transparency, not even an official website, and hundreds of bad reviews. In our honest AitsFX review, we will guide you through the broker’s most doubtful and confusing aspects. In other words, we will demonstrate the reasons why you should avoid them.
First, AitsFX is registered in St. Vincent and the Grenadines. It is an offshore region, and obviously, like most offshore brokers, AitsFX has no regulation and license, even though it has already been on the market for six years.
Unlike other brokers, AitsFX has not quite used this long-term experience for developing, advancing its services. On the opposite, brokers only collected a bad reputation on the forex market over this period. The AitsFX.com website even disappeared from the Internet, and it is almost impossible to gather accurate information about the company.
However, let’s still explore their trading conditions and bring the final verdict.
Security alerts
AitsFX is a CFDs and Forex broker. It claims to be regulated in the offshore area of Saint Vincent and the Grenadines. This is of little significance for proper supervision in practice. The broker also applied to the UK Financial Conduct Authority (FCA) and “waited for their further instructions.” However, this further instruction has not yet taken place.
AITS FX Ltd owns the broker. It is registered in the UK as a company engaged in integrated office administrative service activities.
Besides, the company has no measurements taken for keeping clients’ funds safe. Their security system is unclear, making it highly doubtful to trust your funds.
Trading assets with AitsFX
AitsFX offers trading in more than 50 forex pairs, plus spot metals and energies and CFDs on indices. The assets range is not fascinating. Being on the market for six years and offering only several trading assets options is quite ridiculous. Besides, they don’t suggest Cryptocurrency trading, which is the most popular and exciting industry for today’s traders.
What trading Platforms can AitsFX offer?
However, putting all this aside – the brokerage provides the MetaTrader 4 trading platform, which we generally consider a massive advantage since it is the main trading terminal equipped with features such as almost 100 market indicators as customizable trading robots. More than 80% of the traders in the Forex industry prefer that MT4 platform for trading.
However, don’t be surprised yet. While trying to download MetaTrader 4 from the website, issues appeared, making it impossible to download.
AITS FX also provides its WebTrader trading platform.
AITS FX plans to launch its cloud-based WebTrader platform soon to benefit those customers who do not want to download traditional MetaTrader software that requires a lot of memory.
The software will allow direct and free access to MetaTrader 4 trading accounts via the Internet. Due to its intuitive design, it can be easily and quickly accessed using complete trading functions. The software will allow access from all devices, including smartphones and tablets, without compromising reliability or functionality.
It will have real-time, in-depth market displays to provide intelligent trading decisions and fast-executing one-click transactions. The easy-to-use interface will make it a trading platform suitable for professionals and novices.
However, the company has started for some time but has not yet set the service online.
Trading accounts
On the AitsFX.com website, you will find only one type of account, MetaTrader 4, probably after the trading platform. They plan to introduce a different kind of trading account for AitsFX Webtrader.
MT4 account
- Minimum deposit of £500
- Minimum lots of 0.1
- Leverage up to 1:100
- Maximum lots of 200
- Floating spreads starting at 1.6 pips
- Precision to 5 digits
- Trading tools: 14 CFDs, 11 Indices, 4 Metals, 58 Currency Pairs
- Deposit currencies: GBP, JPY, EURO, USD
- Deposit options: Bank wire, Neteller, Algocharge
- Margin Call/Stop Out level: When margin reaches 100%/50%
AitsFX Webtrader
When this account type becomes life, it will offer the following features:
- Minimum deposit of £500
- Minimum lots of 0.1
- Maximum lots of 200
- Leverage up to 1:100
- Floating spreads starting at 1.6 pips
- Precision to 5 digits
- Trading tools: 4 Metals,14 CFDs, 11 Indices, 58 Currency Pairs
- Deposit currencies: GBP, JPY, EURO, USD
- Deposit options: Bank wire, Neteller, Algocharge
- Margin Call/Stop Out level: When margin reaches 100%/50%
Payment and Withdrawal methods
AitsFX accepts payment via bank wire transfer. Judging from the IBAN of the Santander bank account, it is located in the United Kingdom. Another deposit option is the Stripe online payment platform, which online stores usually use.
Final thoughts about AitsFX broker
AitsFX is one of many offshore unregulated brokers that exist on the edge of the foreign exchange industry. Looking at its trading conditions and lack of supervision, one can’t help but wonder about its true purpose. The most obvious guess is that it is probably a scam.
Of course, the lack of regulation does not necessarily mean that AitsFX is a scam, nor is it necessarily illegal. Still, before obtaining an FCA license, we recommend that you look for other brokers. There are thousands of them under the supervision of FCA, Cyprus Securities and Investment Commission or other European regulatory agencies. Many are well-regulated, are customer fund protection schemes, and deposit customer funds in segregated accounts. They offer a wide range of assets and a lot of other bells and whistles. Last but not least, they provide better trading conditions.
Risk Disclaimer: While starting forex trading, the capitals are already at high risk. Forex Market constantly fluctuates, making the profit highly unpredictable. Before starting trading, every trader should acknowledge these risks, seek professional financial advice if needed, and then decide on trading.
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