Abansgiobal.co.uk Review – 5 things you should know about abansgiobal.co.uk

Beware! Abansgiobal.co.uk is an offshore broker! Your investment may be at risk.

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

Abansgiobal.co.uk is an obvious clone of a legitimate UK broker – there is no doubt about that and there can be no doubt that this is actually a dangerous scam. If you were considering investing with this company on account of good trading conditions, we urge you to think twice – and to read the following review carefully. Scam brokers are usually extremely imaginative in their desire to look legitimate – do not fall for cheap tricks.

Abansgiobal.co.uk Regulation and safety of funds

Abansgiobal.co.uk claims to be a UK-based broker regulated by the local financial authority, the reputable FCA. When we searched the regulator’s database, we established that a company with this name was indeed regulated:

We could not help but note, however, the weird discrepancy in domains. The company we are reviewing used the domain Abansgiobal.co.uk, with an “i” instead of an “l” – which is the domain of the regulated broker. When we visited the website of the regulated company, we were not at all surprised to find a website that looked very similar – however, with some notable differences. These two brokers are definitely not one and the same. Moreover, this is a message we got the moment we opened the website of the legitimate company:

There is only one logical conclusion here – Abansgiobal.co.uk is a clone of a legitimate, licensed enterprise. There is no doubt about the fact that we are dealing with a scam company.

Trading with unregulated brokers is extremely risky – you would not be getting access to any of the protections that exist for clients of legitimate, licensed brokers. Such regulated brokers have to meet many requirements in order to obtain a license, report transactions on a regular basis to ensure transparency, and treat clients fairly. Your best option would be to work with a broker regulated in the EU, the UK, or Australia – the sternest jurisdictions in the world. Regulated companies must:

• keep client money in segregated accounts to prove that the broker is not using client money for their own daily financial operations
• offer Negative balance protection – this means you could never lose more money than you have in your account
• maintain some sort of minimum operational capital – €730 000 in the UK and the EU, and A$1 million in Australia. This ensures that the broker is financially stable and is here to stay
• UK and EU brokers also have to participate in compensation schemes – so in the event of such a broker becoming insolvent, their clients could receive compensation – up to £85 000 in the UK and €20 000 in the EU

Abansgiobal.co.uk Trading Software

Abansgiobal.co.uk promised access to MetaTrader 5 – a platform most traders have surely tried or at least heard of. When we used the broker’s download link, however, we were allowed to download some sort of platform – we are not at all sure that this is the actual MT5.  That software came from an unverified publisher and it seemed risky installing it – after all, all sorts of treats might be lurking inside such seemingly innocent installation files.

MT5’s popularity is more than understandable. This user-friendly platform offers access to a ton of amazing features such as Expert Advisors, VPSs, custom script creation possibilities, customizable signals, a market for add-ons, an economic calendar as well as 38 technical indicators, 21 timeframes, and 4 pending order types. As always, however, we recommend that you try it with a legitimate, licensed broker.

Abansgiobal.co.uk Trading instruments

Abansgiobal.co.uk stated that its clients will be able to trade a variety of instruments – Forex, Commodities, Indices, and CFDs. If you chose to open a basic Standard account, however, you are only going to be able to trade Forex.

Most legitimate brokers offer access to a huge variety of markets and to hundreds, sometimes thousands of trading instruments. Our advise is to definitely check out some additional offers because legitimate brokers often have a lot more to offer.

Abansgiobal.co.uk Spreads and cost of trading

Since we did not install Abansgiobal.co.uk’s platform, we are not sure what spreads they actually offer. They had advertised spreads as low as 1 pip even on their most basic account but that might as well be a lie.

We will once again urge you to check out legitimate brokers instead of wasting time on scammers – many such brokers offer extremely competitive spreads.

Abansgiobal.co.uk Maximum leverage

Abansgiobal.co.uk promised leverage as high as 1:200. The legitimate broker also states that it can provide access to such high rates – probably if you are a professional trader and not a retail client.

Trading with higher leverage might seem tempting but remember that the higher the leverage, the higher the likelihood of you losing a lot of money very fast. Leverage enables you to make bigger offers – which might result in bigger profits, and bigger losses alike. We encourage you to always be careful with your leverage settings and only trade with the sort of leverage you are absolutely sure you can handle.

Abansgiobal.co.uk Deposit and withdrawal methods

Abansgiobal.co.uk only accepts deposits made via wire transfer and in crypto. This hardly helps the broker’s case – many scam brokers prefer to receive payments in crypto specifically. This is because such transactions are both anonymous and irreversible. Once you have made a payment, you would have no way of getting a chargeback or tracking it to anything more than a wallet address.

Wire transfers are less anonymous and do leave the possibility for chargebacks. However, such chargebacks mostly happen in case of technical mistakes on the bank’s side. In order for that to happen, your bank should notify the recipient bank that the payment should not pass through. Needless to say, this is no way to get your money back if you have deposited it weeks ago.

Prevention is key when dealing with shady brokers – it is best to not deposit in the first place.

Abansgiobal.co.uk Minimum deposit

Abansgiobal.co.uk claimed that it asks for a minimum deposit of $500 in order to open its most basic kind of account – the same as the legitimate broker. We would say that this is actually quite high – many established companies now offer trading accounts for $100 or less.

Abansgiobal.co.uk Withdrawal requirements

Abansgiobal.co.uk did not provide us with Terms and Conditions and as a result, we were unable to learn anything in particular about specific withdrawal requirements. Keep in mind, however, that scam brokers often think of ways to scam you additionally. Many of them do not allow clients to withdraw before they have reached some extremely high turnover requirements on their accounts. Others charge enormous withdraw fees of 20% or more. With such shady enterprises, there is simply always something.