ASJ Forex Global Review – 5 things you should know about asjfx.co

ASJ Forex Global Review – 5 things you should know about asjfx.co

Rating: 1

Beware! ASJ Forex Global is an offshore broker! Your investment may be at risk.

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ASJ Forex Global is a scam obviously targeting Asian customers – the broker claims to be based in Hong Kong and the website is available in Chinese, Korean, and Japanese while its English version is in extremely bad translation that left a lot of elements of the broker’s offer unclear. Such a broker has nothing to offer you other than promises of decency and profits – and while the company does offer the great MetaTrader 5, the right to trade with ASJ Forex Global is reserved for a chosen few. Such scams are very insolent but they are also easy to detect – read the review to find out more.

ASJ Forex Global REGULATION AND SAFETY OF FUNDS

ASJ Forex Global claims to be a broker based in Hong Kong but licensed by FinCEN.

The Financial Crimes Enforcement Network (FinCEN) is a US authority whose goal is to prevent and punish financial and money laundering crimes. It does not, however, regulate forex brokers – the US regulators responsible for that are the NFA and the CFTC. This is why all claims of FinCEN regulation are pretty ridiculous.

ASJ Forex Global is also not licensed by the Hong Kong Securities and Futures Commission (SFC) – one check of the regulatory body’s register confirmed that.

The SFC is actually a quite strict regulator that has certain conditions for companies under its jurisdictions. All Hong Kong-licensed brokers must maintain a minimum operational capital of 5 million Hong Kong Dollars (around $640 000), and participate in compensation funds – in case a broker becomes insolvent, clients could claim compensation of up to $150 000 per client. That does not, however, cover leveraged forex trading, only trading in futures and securities. Moreover, if a trader believes that they have been sold or recommended financial products, not suitable for them, they could claim damages.

Rules and requirements in the UK, the EU, and Australia are pretty similar – brokers there have to maintain a minimum capital of €730 000 (in the EU and the UK), and A$1 million (in Australia) respectively. Client money are kept in segregated accounts, and negative balance protection is promised to all retail clients. Additionally, EU and UK brokers also participate in compensation schemes which cover client up to £85 000 in the UK, and €20 000 in the EU.

Working with a legitimate, licensed broker is the only way to go if you want to be safe and actually be able to turn a profit.

ASJ Forex Global TRADING SOFTWARE

The broker offers access to a platform known to any serious trader – MetaTrader 5. However, in order to open an account with ASJ Forex Global, you would have to provide a referral code – otherwise, the broker would not let you access their client area, or provide you with the information necessary to access their MT5 terminal. This is a trick that has become quite common among scammers – while legitimate brokers are trying to make their services as accessible as possible by providing people with access to demo accounts, scammers prefer to keep things under wraps to avoid unwanted attention. Such referral codes are usually distributed via email or phone and mean that the broker would like to handpick their victims.

Our advise would be to turn to a reliable MT5 broker if you are interested in trying the software. This is indeed a great trading platform which is both user-friendly and full of amazingly useful features such as preprogrammed Expert Advisors (trading bots) that track markets and trade automatically, possibilities for developing your own trading bots and indicators with the MQL5 coding language, VPSs you could purchase to keep bots operating even when your computer is off, customizable signals, a built-in economic calendar, and much more. If you are interested in seeing for yourself what the platform has to offer, check out these licensed brokers who offer it.

ASJ Forex Global TRADING CONDITIONS

ASJ Forex Global did not exactly manage to impress us when it comes to trading conditions, mostly because we could not establish if any of their claims were actually true without access to a trading platform. The minimum deposit amount is set at $30 which might sound pretty good at first but there are much better brokers who would open a Micro account for between $1 and $10. Prices for standard accounts rarely exceed $250 anyway – this is definitely more than $30 but investing with a legitimate broker might actually result in you turning a profit. Investing with insolent scammers, on the other hand, is never a good idea as every cent you deposit with somebody like ASJ Forex Global will be lost forever.

The broker claims that spreads start from 0.6 pips which is indeed great considering that we would call something around 1.5 pips an average spreads. However, these might as well be empty promises. Moreover, it is not uncommon for scammers to manipulate platforms in order for you to think that they offer spectacular conditions, and convince you that you are turning a profit. Once you try to withdraw money though, you will find out how much truth there is to those claims.

The broker offers leverage of 1:300 exclusively – that could not be changed from anywhere. Leverage increases your trading potential and your ability to make bigger offers – which means that it could lead both to bigger profits, and to bigger losses. That is why many jurisdictions around the world have created leverage restrictions – brokers in the EU, the UK, and Australia, for example, cannot offer anything higher than 1:30 to retail client while those in the US could go up to 1:50. While such restrictions don’t exist in Hong Kong, ASJ Forex Global does claim it is regulated by a US authority – and the high leverage offered proves once again such claims are false. Traders should always have the opportunity to set leverage lower to protect themselves from losses – especially if they are not very experienced, or in a state of higher market volatility. ASJ Forex Global does not leave such an option.

ASJ Forex Global DEPOSIT/WITHDRAWAL METHODS AND FEES

ASJ Forex Global has not mentioned what deposit and withdrawal methods it supports on the website, and without access to the client area, we could not try and deposit money ourselves. The FAQ mentioned ” UnionPay, telegraphic transfer, e-wallets, local bank transfer, digital currency and other payment methods”. However, we could not find out anything more specific as this broker is extremely unreliable, we would advise you to not deposit money with them under any circumstances.

HOW DOES THE SCAM WORK?

If you have enough information about the way such scams work, you will know how to protect yourself against them so read the following text carefully.

It all starts with you seeing a flashy ad on the Internet promising you immense riches  – you take one look at a broker’s website and decide that it looks decent enough and that all the promises and claims must be true. Such scammers often manage to convince you that they are legitimate in ingenious ways – they lie about being regulated, provide fake legal documents, draw your attention with amazing offers. So you decide to try your luck and open an account – providing the scammers with your phone number and email in the process.

After that you would not be left alone before you make a deposit – you receive dozens of calls and emails from smooth-talking scammers whose very job is to pray on unsuspecting people who are trying to turn a quick profit. And once you have deposited, they will keep asking you for more and more money – which you would gladly invest because at that point, you might even be turning a decent profit. However, all of this is lies and manipulations – and you will clearly see that once you try to withdraw your profits. Different reasons why that is impossible will appear – additional taxes, minimum withdrawal limits, previously unmentioned clauses in the Terms and Conditions.

At some point, you will start figuring out that something is wrong – and that is when the scammers will disappear with your money in their pocket.

WHAT TO DO WHEN SCAMMED?

Accept the fact that such stories rarely end happily with the victim retrieving their money. What you can mostly do is avoid additional problems by changing all banking details you have provided the scammers with, and removing all software they have asked you install. Don’t trust any recovery agents promising to retrieve your money for a fee – this is just another type of scam, often conducted by the same people who initially robbed you.

However, if you have used Visa or MasterCard to deposit , there is a decent chance of getting a chargeback – both card providers allow chargebacks within 540 days of transaction. Reversing wire transfers and payments made via an e-wallet is harder but not impossible – contact your bank or payment solution provider to ask for assistance.

Finally, make sure to notify authorities and share your story with as many people as possible – this way, others will know how to avoid horrid scam like the one you fell victim to.

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47 Comments

  1. Hi! I can see that ASJ is regulated with 5+ stars on WikiFX. I just wanna know if this changes the idea of it being a scam because I was invited by a friend and it seemed like they never had issues withdrawing money there. Any thoughts?

    1. Hi Krzhia, for a start, WikiFX is not a reliable source for legit checking of a forex broker. See this link https://fraud-hunter.com/en/wikifx-blackmails-brokers-and-writes-fake-reviews/#:~:text=Overall%2C%20WikiFX%20is%20a%20scam,the%20Internet%20extortion%20and%20blackmail.

    2. Hi it will show 5 stars on wikifx website but try to check it on wikifx app it’s 8+ stars.

    3. Hi Krzhia, WikiFx has known for helping scam company to review. Some countries has been scammed by them and now has been banned from them. Your friends had no issue with withdrawing does not mean that never. I believe the company haven’t reach their target profit yet, once that hit, they will take all the money back.

  2. I was observing the price action of this broker ASJ vs other forex platforms during the time when they traded with ASJ following their signal sent. Obviously, there was such a big discrepancy on the 5min timeframe. other brokers were bearish while theirs is bullish on the same 5 minute candle on the same timeframe. WTF!

    aside from people are being conned, what will be effect of this in the industry overall?
    what are the regulating bodies who are after this cons?

  3. ASJ manipulates the price and chart to give fake profits. And once people add more money and invites more people, they will stop the withdrawal and voila your money is gone.

  4. Blengblong Marcos

    I’m a Filipino and this ASJ was introduced to me by my colleagues who are trading thru them since January. I started 1st week of April and the daily signals they gave NEVER MISSED and consistently giving you around 3% profit (5-7pips).

    Googled them and as usual, many red flags such as poor english grammar, irrelevant broker license, and pyramiding scheme (Uplines have commission in your profit of as much as 16%). But since I trust my workmates and I’m curious, I invested small amount (117usd or 6k php) and now its almost 200usd. I will try to withdraw it all when it reached 250% profit (~290usd).

    I believe their system will shutdown soon lol.

    I also confirm previous comments here that ASJ is manipulating the chart. I just checked our trade last Friday and in ASJ platform the trend is bullish while the trend in all other platforms are bearish.

    1. How can they say that they are manipulating their chart? I am in the trading view because I monitor the price which is correct.
      ——————
      Paano niu po nasabi na minamanipulate nila ang chart nila? Ako kasi sa trading view kasi ako nag monitor ng price which is tama naman.

      1. Bobo po yan nag show up ng wrong information kasi sikat ang Asj forex at nag promote siya ng mga broker kaya sinisiraan niya ang Asj sabi pa niya wala daw withdrawal method eh ang dami nga I am investors and I knew what is the reality than this review who published misinformation. How to file a case against this website sinisiraan lang niya ang company diba may kaso yun.

        1. just open ASJ chart and other known legit broker’s chart (like tickmill, icmarkets, xm, etc) . compare the 2 charts on that same period given by ASJ signals and you’ll see the difference.

        2. Investors lol ilan ka ba? hahahahah bobo ka pa eh totoo naman manipulated ang charts ng asj. hindi misinformation ang magsabi ng totoo, Investor ka pala di mo alam kung pano tumakbo ang pera tru accounts? Yung withdrawal kinabukasan ibibigay pero kinaltas na agad? may delay talaga pag crypto transfer pero di po umaabot ng isang buong araw yon. And usdt po isa sa may pinaka mabilis na blockchain confirmation ibig sabihin whitin minutes of withdrawal dapat dadating yun. at money to money transfer dapat yan since ililipat mo lang naman yung balance mo sa binance account di talaga dapat yan matagal. Ponzi scheme gaming. Di porket may naka cashout and kumikita legit agad 🙂 nag papadami lang yan ng members bago nila itakbo funds nyo. Madami na pong ganyan na schemes pasisiyahin kayo sa kitaan para magkapag invite. Looking forward sa katangahan mo. 😀

      2. I checked with fxcm, they also invited me when I met asj, they sent me a screenshot of their profits to gc, I accompanied them to fxcm …. last night, there was a buy signal … I closed at 0.6975, I was happy kc yun ung highest nung candle stick during the 5 minute timeframe accdg sa signal nila …. pagcheck ko ng screenshots nila, nasa 0.6980-0.6985 cla, almost same buy entry sakin so lumilipad ung profits nila earning around $ 20-45 kc sagaran yata sila tpos un leverage … chineck ko din baka naman ung fxcm ang mali …. no. they are really the only ones with such a 5 minute candlestick … so I googled now why is that ….. sbi naman nung mga nsa gc nakakawithdraw naman sila.
        ———————
        Chineck ko nga sa fxcm, iniinvite din kc ako nung kakilala ko sa asj, sa gc nila sinesend yung screenshot ng profits nila, sinabayan ko sa fxcm….last night, may buy signal…nagclose ako ng 0.6975, natuwa nko kc yun ung highest nung candle stick during the 5 minute timeframe accdg sa signal nila….pagcheck ko ng screenshots nila, nasa 0.6980-0.6985 cla, almost same buy entry sakin so lumilipad ung profits nila earning around $20-45 kc sagaran yata sila tpos un leverage…chineck ko din baka naman ung fxcm ang mali….no. sila lang talaga yung may ganung 5 minute candlestick…so nag google kgad ako ngaun bakit ganun…..sbi naman nung mga nsa gc nakakawithdraw naman sila.

      3. I used 3 monitor, 3 diff brokers in all. When ASJ signal came, other brokers were bullish while ASJ is bearish at the 5m TF. Not only only once it happened but more than 8x and I have it recorded.

      4. ERICSON G AZARCON Azarcon

        asj member pp kayo?

    2. So what is your perspecrive to asj sir i am also a filipino
      It is true that ther’s somebody to manipulated the system or the trade?

      1. im planning to invest 10k should i? my relatives are inviting me to join them

        1. No Please! It’s too late to join. They will shut their company soon

        2. No easy money. Try a small amount first
          —————
          Walang easy money. Try mo sa maliit na amount muna

    3. Hi, have you withdrawn yet sir?
      I’m just curious because I just entered here last Monday. Your reply is much appreciated. Thanks
      —————–
      Hi po naka withraw na po ba kayo sir?
      Curious lang po ako kasi kapapasok ko lang last monday dito.Your reply is much appreciated.Thanks

    4. ERICSON G AZARCON Azarcon

      im asj member what ever the result TF WHEN YOUBARE HAPPY

    5. There is no withdrawal option ..
      ——————
      Wala na pong withdraw option..

  5. I tried two brokers … I was based on ASJ but I lost to one haha ..they are not the same .. just the same MT5 .. I used ..
    —————–
    Tinry ko dalawang broker…nag base ako sa ASJ pero na talo ako sa isa haha ..hindi sila pariho.. same lang na MT5 .. ginamit ko..

  6. if asj can manipulate chart and the trading price… so other broker can do? why u hate asj .. focus on your business ? dont spread negative who are you to teach us what to do.. this our money.. we know the risk .. lol hehahehehe

  7. any thought of JP MORGAN Investing in ASJ FOREX?

    1. JP MORGAN DIDNT INVEST IN ASJ, fake news po yan yung site na pinag galingan nyan kahit sino pede mag post don. May sarili pong borker ang jp morgan 🙂

  8. I have been with ASJ for 4months..i have deposited around $6,000, it has grown to over $33,000..withdrawn around $12,000 still trading with them and now im back to $33,000..so will i withdraw now and run with my money? The broker earns from spread and also commission..i dont mind since i profit everyday.

    1. kunin mo n lahat

    2. sa una lang yan brod. swerte mo nauna ka. ang kawawa jan yong huling papasok at yong ma engganyo mo na mag invest din

      1. You’re right. So I didn’t try because I found out it is a ponzi scheme. Poor innocents. Those who are silly or just recruits can earn a lot. They should be accountable to their downlines or recruits
        ——————————
        Tama ka poh.kaya hindi na ako nag try because i found out it is a ponzi scheme. Kawawa mga inosente. Yong mga magAlibg mang uto or magrecruit lang ang pwede kikita ng malaki. They should be accountable to their downlines or recruits

      2. withdraw na habang may time pa munahan na mag HALT ang system

  9. I am also a Filipino and checked Pepperstone and ASJ charts and they were the same.

    1. Does Pepperstone have signals too? Or do you do your own analysis in trading?

  10. it says ASJ is Fintrac regulated (Canada Licenses) when i checked in fintrac website and search for the ASJ global. nothing shown

    1. https://www10.fintrac-canafe.gc.ca/msb-esm/public/msb-search/name-search-results/7b227072696d617279536561726368223a7b226f72674e616d65223a2241534a20666f72657820676c6f62616c222c2273656172636854797065223a317d7d/
      i checked FINTRAC and there it shows…

      Name Address Type Status
      ASJ FOREX GLOBAL LIMITED
      168 QUEEN ST. SUITE 105
      OTTAWA, ON, CA K1P5V9 MSB Registered

      1. https://www10.fintrac-canafe.gc.ca/msb-esm/public/msb-search/name-search-results/7b227072696d617279536561726368223a7b226f72674e616d65223a2241534a20666f72657820676c6f62616c222c2273656172636854797065223a317d7d/

  11. Hi there I just invested in ASJ yesterday. Pinoy din po ako. Do you have any community ng mga pinoy na bag invest sa ASJ?

  12. For those who did not see the License of ASJ in Fintrac. Here it is, kindly check for you validation
    https://www.ic.gc.ca/app/scr/cc/CorporationsCanada/fdrlCrpSrch.html?locale=en_CA

    1. Honkong based pero Fintrac licensed(Canada)… research ka muna about licenses pag dating sa brokers. 🙂

  13. https://www.cr.gov.hk/docs/wrpt/RNC063/wk_new&changednamecoys_20210802.csv

    #98 Registered August 8, 2021.

  14. Payaman na Pinoy

    Only risk the money that you are willing to lose. That’s it. All investment have their own risk! TAYOR everyone to your investments.

  15. Thanks for information about ASJ, my friend invite me to invest ASJ for more profit and i will plan to invest next week but i read this message so that i change my mind not to invest ASJ.

  16. Hi is it true that if you don’t follow the 5minute timeframe or you do solo trade in ASJ your account will be ban? Thank you.

  17. Beware of asj.. they manipulate price.. I got mc when entry market.. price entry market not same (they change price high to make you mc)..

  18. All brokers can manipulate their charts! Ang diff Kay ASJ is it manipulates the charts in favor of the traders Kasi may commission Padin nmn Silang makukuha so it’s a win win. Anyway, we have our own risk appetites. If umokay to good for us investors. If Hindi Naman, we knew the risks. So for now, nagproprofit kaming LAHAT sa ASJ. We do charities. Okay Naman. Kung ayaw nyo then don’t join. Simple as that.

  19. I just joined and have my first trading last night. Anyway nag start lang ako ng 50usd, win or lose just charged to experienced.

  20. have I seen reviews and reports that ASJ is a scam? Totoo ba un? because I’m planning to invest.
    ————–
    may mga nakita akong review at report na scam ang ASJ? Totoo ba un? kasi nagbabalak ako mag invest sana.

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