AAG Markets is an unlicensed Forex and CFD broker allegedly owned by AAG LTD with business address at Suite 48, Beachmont Business Centre, Beachmont, Kingstown, St. Vincent and the Grenadines. AAG Markets is offering trades on popular global markets like Currency pairs, Gold, Crypto, Oil, Indices and Commodities. Both standard and Islamic compliant accounts are made available. Minimum deposit is $50 and leverages extends upto 1:888 with access to metatrader facility.
What is AAG Markets (aagmarkets.com)? Either is AAG Markets scam or legit?
AAG Markets is considered not safe, as it is not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC and the US CFTC. For more details, please continue reading our AAG Markets review below.
AAG Markets Review
- Aforementioned, AAG Markets is unregulated as they should be regulated if they want to target customers on regulated markets like the European Union, including the UK.
- Unlicensed brokers like AAG Markets do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- AAG Markets says to be registered in Saint Vincent and the Grenadines – something that does not make it a legitimate financial service provider.
- We confirm that AG Markets is a scam, it is accepting traders from UAE without authorization from the Central Bank of the UAE.
- Bear in mind that a legit forex license is the only reason you can trust an online broker, because otherwise, for the safety of your funds you will have to rely entirely on the integrity of the people, who have collected your trading deposit.
Questions to ask to avoid a forex trading scam
- Is the broker regulated?
- If regulated, how trustworthy is the regulatory body?
- Is the broker offering profits or rewards for opening an account?
- Is the broker offering a cash bonus for opening an account?
- Is the broker offering automatic trades or signals to guarantee profits?
- Is any credible information about the company included on its website, such as company history, financials, headquarters’ address, or similar?
- If awards are cited, can I verify their authenticity?
- If a big corporate sponsorship is promoted (e.g. athlete sponsorship), am I doing my due diligence to ensure the company can be trusted?
Is AAG Markets Scam or Legitimate Forex Broker?
AAG Markets Broker is not a licensed broker.
Scam Expert Advisor uses a simple method to determine if a Forex broker is legitimate or a scam broker. We look to see if the broker is licensed and regulated by anyone of these regulators; FSCA South Africa, FCA United Kingdom, ASIC Australia or the US CFTC.
In our reviews, we keep reiterating that regulation is the most clear-cut indicator of legitimacy and the best trust-creator in the business. So when choosing a new broker make sure it has a legit license.
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The FX-Base scam broker is unfortunately nothing new on the market, there are many similar brokers, like ExperTrades, Rodeofx. They all work the same way. They do not have appropriate licensing.
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Conclusion
As usual in such cases our best advise is to deal only with properly regulated brokers, like the ones licensed and authorized by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).
Protect your personal information and funds by investing with legit digital currency platforms.