Beware! Agfia is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Agfia is not a licensed broker – the company has numerous and severe issues with every aspect of its service – here is why it is best to avoid the broker altogether!

Agfia regulation and safety of funds

Agfia is completely unregulated – the broker does not hold a license to operate anywhere. It furthermore lies about its address, stating the following:

There is no way that Agfia is operating from Dublin – Ireland is a member of the EU, and, as such, holds brokers up to some high pan-European standards. For example, companies there are required to participate in guarantee funds, which pay out up to 20 000 euro per affected client if the company goes under. Furthermore, such brokers are required to report on a daily basis on open and closed trades – this means that if a company decides to engage in whatever kind of market manipulation, it can be easily caught and penalized.

But Agfia does not follow these policies – the broker breaks EU rules no less than twice – firstly by providing access to a leverage of up to 1:200 to retail traders, and secondly, by having bonuses available – such trading incentives have been banned in the Union, following a streak of abuse from various brokers. This means that all bets are off with Agfia – you cannot even be sure you are not dealing with a scam!

Agfia trading software

Agfia provides access to a web-based trading platform – unfortunately, we found it to be quite lacking when compared to industry standard Metatrader 5. Notably, there is no automated trading available whatsoever. Here is what the platform looks like:

The trading conditions are not particularly good – the spreads might be within the acceptable 1 pip range for FX majors like the EURUSD, but the leverage of 1:200 is too high for retail traders – in fact, not only Ireland and the EU have banned it, but most other regulatory jurisdictions. Therefore, a lot of unlicensed brokers offer that kind of leverage in what is nothing more than a bid to attract more clients. So, you should be extremely careful when dealing with companies with such high leverage – odds are, you might be dealing with a scam!

Agfia deposit and withdrawal methods and fees

Agfia accepts deposits via credit cards, Bitcoin and wire transfers. If you have deposited using the latter two options, we have bad news – they are not eligible for any kind of chargeback. Therefore, you would have to contend with Agfia’s withdrawal restrictions. Here is what these restrictions are:

At any attempt to execute a withdrawal from an account credited with a bonus prior to reaching the volume requirement of the bonus will be penalized by having that bonus revoked – as well as any of your profits. This volume requirement is not mentioned here, but we can safely assume that it is not going to be easy, or feasible to get your money out of Agfia’s hands once it is in them, because brokers with such clauses always simply use the bonus as a way to prevent withdrawals from their clients!

How does the scam work?

Agfia is undoubtedly running a scam – and what’s more, the broker is running it by following a scheme we have seen unfold hundreds of times before – here is a rundown:

Someone stumbles upon the website Agfia runs – and on it, are prompted to make an account. If they do so, they will be required to leave a phone number – one the scammers will start using to call to demand deposits around the clock. More and more money will be taken from the victim until they realize what’s going on or run out – at which point, the scammers cut them off and move on to new targets!

What to do when scammed?

If you have been scammed, you need to take the following steps to make sure you do not suffer further losses:

First off, reissue whatever credit cards and forms of ID the scammers had access to – and remove any remote control software they had you install on your PC.

Secondly, contact your bank and see if you can file a chargeback – but, if that is not possible, do not trust any recovery agency that demands an upfront payment for its services – these are all scams, destined to pray on people who have been victimized already!

Finally, do not hesitate to leave a comment below, with your own thoughts on Agfia – that is the best way to help us raise awareness of the scam, which is the best way to combat it!


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