ArubaFX
ArubaFX Ltd is the owner of an offshore brokerage firm, ArubaFX Ltd. It promises traders a lot. The broker claims that its office address is Amsterdam, Netherlands. The broker also offers various account packages such as Basic, Gold and Platinum, as well VIP.
We also found other types of accounts such as Prime Account, Cent account and ECN account. Islamic and Demo accounts were also available.
The broker also offers various instruments such as forex, stocks and commodities, bonds, and indices. It also offers a zero spread difference between Buy/Sell.
Clearing the air, traders should know that they are dealing directly with an unregulated broker .
Deposit or Withdrawal
ArubaFX Minimum Deposit:
Based on account type, the minimum deposit at ArubaFX is $1050. A genuine FX broker will make sure that traders know the minimum deposit and clients are able to trade as low as $100.
The broker seems to accept Visa, Mastercard and Maestro as payment options. This broker is not recommended for you to make any payments.
Offshore brokers are well-known for accepting crypto currencies. This is because payments made via this method can only be traced back to the wallet address and not to any individual. Be careful!
Withdrawal Process
ArubaFX does not provide any information about withdrawal fees or processing times for withdrawal requests. The broker does not provide any clear information on the trade requirements required before withdrawing.
ArubaFX Platform
ArubaFX platform provides a web-based trading platform, not MT4 and MT5 (Industry standard platforms for trading), which makes it even more dangerous to trust this broker. Scammers use trading software to trick their victims into believing that their money has been invested.
ArubaFX leverage can reach up to 1:2000 We strongly advise against doing business with unregulated forex brokers like this one. You could lose your money.
Why ArubaFX.com Is A Suspicious Broker
First, ArubaFX.com does not have a financial authority that oversees its financial services. This is one of the most confusing yet common comments made by scammers entities. It helps them to appear as legit while remaining as vague as possible. Our search has not led us to believe that the Autoriteit Financielle Markten ( AFM) regulates this broker.
The broker also claims that it is regulated under the IFSC. However, this is not a regulation.
ArubaFX doesn’t offer a money back guarantee, which means that trading on such platforms is risky as your money can’t be refunded.
Forex traders should be aware of these drawbacks in order to avoid losing their money by dealing with a scam broker. Before depositing funds for trading, it is a good idea to check whether the broker has been licensed and regulated by financial authorities.
ArubaFX Regulation and Licensing
This broker is not licensed. This broker is not subject to any financial regulation, which makes it risky to wire your money for trading. Unlicensed or unregulated activities are a red flag that must be avoided.
COMPARE TO A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker located at Michelin House 81 Fulham Road London SW3 6RD, United Kingdom. Fortrade is one of the most respected brokers in the business, offering trades in a variety of assets, including stocks, commodities and currencies. Fortrade is licensed and regulated by both the FCA (Financial Conduct Authority), in the UK, and ASIC in Australia. Client funds are safe. They are open to traders from all over the world. Visit their official website