Be Aware! Astro FXC Trades is a Scam Broker

While forex trading has always been a lucrative investment market, the most challenging part of investing in it is finding a reliable broker. You run a risk of signing up with con artists, mainly if you are new to the market. This piece highlights how scam brokers like Astro FXC Trades trap clients and make them lose their hard-earned money. Before we start unleashing the broker, let us introduce you to it. 

Astro FXC Trades - A Quick Overview

Astro FXC Trades (https://astrofxctrade.com/index.html) is a fund management company based in the United Kingdom. The broker claims to offer budgeted investment solutions with a higher rate of return across multiple financial markets, such as forex, stocks, and binary options. The company anticipates clients to select an investment plan starting with a minimum $300 deposit ranging up to $50,000 and wait for a couple of weeks to receive profits. According to the broker, it diversifies clients' investment portfolios to reduce risk exposure and increase the profit-making potential. However, it doesn't talk about its regulatory status and if there is any funds compensation scheme in place. If you wish to join the broker, bitcoin is the only supported payment method available. The company offers round-the-clock customer support via live chat, telephone, and email. 

Is Astro FXC Trades Regulated?

No! Astro FXC Trades isn't regulated. According to the broker's website, the company is based in the United Kingdom. Since all brokerage firms must hold registration with Financial Conduct Authority (FCA) to continue operations, we checked the British regulator's database to confirm the company's regulation and found no matching result. 

Clientele Feedback

Astro FXC Trades holds a poor reputation amongst investors. Clients specifically denounce the company for withdrawal issues. According to customers, the broker always makes lame excuses when requested for withdrawals but never releases funds. 

What Makes Astro FXC Trades A Scam Broker?

There isn't one reason why we believe the broker is a scam. Let's enlist a few below. 

First, the company keeps changing its official address on its website. For instance, the broker initially mentioned having its registered office in the UK. However, now it claims to be a US firm. 

Second, the broker boasts about being a forex and stock investment firm in the "About Us section". However, the company claims itself to be involved in crypto trading services in the FAQs section. 

Third, the firm promises consistent returns forever. That's an outright lie. Losses are parts of the investment markets, and no investment company can stay profitable forever. 

Fourth, the firm has been blacklisted by the UK's regulator FCA. According to the regulator, the company is guilty of providing unauthorized financial services to UK citizens.

Lastly, the poor client feedback is yet another reason we believe it to be a scam concern. 

Bottom Line

Whether you trade forex or stake your interest in crypto, investment markets always carry a risk of loss. Therefore, do not invest the money you can't afford to lose. Moreover, careful broker selection is equally important. Make sure you signup up with a reputable firm, preferably the regulated one. You can always check a broker's rating and regulatory information on BrokersView. Remember, a broker's regulations don't guarantee your investments' safety. However, they protect your right to file a case against your broker if it breaches the code of conduct which isn't the case with a non-regulated entity.