Beware! AUU Global is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
AUU Global is a shady entity that doesn’t look like a trustworthy Forex broker. In fact, their products and services presentation is way below the standards for acceptable! Their website is available in English and Chinese, and fairly speaking, the English version makes a horrible impression. We detected some major red flags indicating that AUU Global is most probably a scam enterprise. Find out everything you need to know about this strange Forex broker in the full AUU Global review.
AUU Global REGULATION AND SAFETY OF FUNDS
AUU Global claims to be a financial group that is presented in the United Kingdom. Our research in the register of British Financial regulator, however, didn’t produce any results, which undoubtedly proves that AUU Global isn’t a legit Forex broker.
Apart from the plain talk, AUU Global doesn’t provide the public with any other information about their legitimacy, such as license or registration numbers. That should only mean that they are deliberately hiding crucial legal information from the public- a powerful scam sign! On top of that, AUU Global has three different domains, that display identical web pages and, reasonably speaking, it is an extraordinary way for a company to conduct its business. The domains are as follows: auuforex.com, auu999.com, and auufxpro.com.
Your funds are not safe if you make a deposit with AUU Global, it’s an unlicensed, unauthorised and unregulated Forex broker, that withholds essential information about itself and acts strangely.
It would be best if you chose a European Forex broker- CySEC(Cyprus) or FCA(Britain) regulated, as these locations host the leaders in the retail FX industry. Europe created the safest financial environment in the world by implementing a very robust regulatory framework, consisting of many strict rules and requirements Forex brokers have to meet. The regulated entities should hold the clients’ funds in segregated bank accounts; provide the traders with negative balance protection; adjust the stop-out levels to 50% of the account balance; impose a leverage cap as a customer protection measure and so on. But most importantly, there are customer compensation funds at the place, inaugurated to protect the clients of authorised financial service companies.
The Investor Compensation Fund(ICF) operates in Cyprus, while in Britain, a similar fund is called Financial Services Compensation Schemes(FSCS). In Cyprus, you are allowed to make a claim of up to 20 000 EUR per client, while in the UK you are guaranteed of even up to 85 000 GBP per client. If you trade with an offshore broker you are entitled to nothing, it might cease to exist tomorrow, and you are going to lose all of your investments!
AUU Global TRADING SOFTWARE
AUU Global offers MetaTrader4 accounts to its customers; MetaTrader5 is not available. It is a logical choice for them because MT4 is the most popular Forex trading platform in the world, which is also used by many financial institutions. It’s stable, reliable, easy-to-use and includes the usage of many sophisticated features such as expert advisors, automated trading robots, complex indicators and so on. MetaTrader has developed its own marketplace, where you can find plenty of useful tools that you can implement in your trading routine.
Warning! AUU Global doesn’t specify its trading conditions, anywhere on their website. In fact, it doesn’t even present T&Cs to the clients, which is the ultimate scam sign we were able to detect, effectively meaning that AUU Global is not a legit enterprise. However, the EUR/USD spread is 0.6 pips, which is a favourable difference, but we do not recommend trading with this Forex broker.
The maximum leverage level is 1:500, but the biggest problem is that the minimum available ratio is 1:100, which is a considerable disadvantage. It means that AUU Global doesn’t let you modify the trading conditions to your own preferences and is actually pushing you to trade in a way that isn’t safe for, which is a red flag and a scam sign! There is a leverage cap of 1:30 in EU and UK, which was imposed as a customer protection measure because highest ratios are considered inadequate for retail traders with little or no experience.
AUU Global DEPOSIT/WITHDRAW METHODS AND FEES
Warning! AUU Global doesn’t give any useful information about the products and services they are offering, and they do not even present Terms and Conditions or a Client Agreement to the traders!
No minimum initial deposit specified, but the industry standard is around $100, even though some Forex brokers will accept as little as 5 or 10 bucks. The funding methods are said to be Debit/Credit Card, Wire Transfers, UnionPay and WeChat. UnionPay and WeChat are Chinese payment systems that are very unpopular in EU, UK and USA, which comes to show that China is a top market for AUU Global.
No minimum withdrawal amount and no withdrawal fees were found, no dormant account policy or fees for inactivity known, as well. The dormant account policy is important because it constitutes how the Forex broker is going to treat inactive accounts. Scam Forex brokers will usually define unbearable conditions such as a monthly percentage fee, which definitely harms the funds made by the clients.
No bonuses or other trading incentives offered, also no partnership programs introduced on their website.
HOW DOES THE SCAM WORK
A group of scammers usually operates many different scam brokers, scam websites and call centres. Sometimes they will rely on the quantity; they will publish tens or hundreds of websites and will wait for traders and investors with little or no experience to bite. Nowadays, it’s really cheap to create one, and it looks like a profitable strategy, as they carry on doing it. At times they are so arrogant that the only thing that they change will be only their domain name. Beware, and always do thorough research before making a deposit, it will save you a lot of money and stress!
WHAT TO DO WHEN SCAMMED
No one is immune to scam; anyone can fall into the trap. Scammers are always looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you necessary instructions to follow and will help you, if possible, recover your money.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!
Share online your experience; it is essential to protect others, as well. Be responsible!