Licenses Scam Alert! Beware of the Unregulated AEFOREX - BrokersView

Licenses Scam Alert! Beware of the Unregulated AEFOREX

May 13, 2022 Brokersview

 

Offering misleading information is a common tactic used by fraudulent brokers. It seems to be very reliable if you take a very quick glance at the statements the fraud shows on its page. However, when you start to trade with it, you will find any trading information it claimed has been left out, and the fraud itself is unbelievable.

Recently, BrokersView learned that AEFOREX has been one of the fraudulent brokers.

 

False company foundation year

AEFOREX introduces that it is a premium online Forex and CFD broker, starting its history in 2004. But domain check result shows it was exclusively created in 2021.

 (Image Source: domain check)

 

Suspicious regulations

The company claims that it is a top international forex broker with the full name AURORA EXPLORE PTY LTD. It provides a wide range of products including forex, precious metals, CFDs under the regulations of:

the Australian Securities and Investments Commission (ASIC, Regulatory No. 246250) , and;

the Saint Vincent And Grenadines (SVG FSA, Regulatory No. 25451). 

First, we did find a record matched with the regulation No. 246250 on the ASIC Regitry. However,  the regulation number actually belongs to a company named "AURORA ENERGY PTY LTD", which has no connection with AEFOREX/AURORA EXPLORE PTY LTD. That means AEFOREX is using a false ASIC regulation. 

 (Image Source: ASIC)

On the other hand, we did not find any match results to the company name or the regulation number on SVG FSA Registry. Besides, SVG FSA does neither issue licenses for forex trading nor regulate brokers offering forex activities.

 (Image Source: SVG FSA)

BrokersView suggests investors to stay away from AEFOREX and keep vigilant when choosing forex brokers. If you are not sure on how to find a licensed broker, you can search on our website to check brokers' details.

Contact us at service@brokersview.com to share your trading stories.

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