Astrofxoptions review – 5 things you should know about astrofxoptions.com

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

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Astrofxoptions presents itself as a trustworthy broker, but is in fact another scam trying to cash in on the hype around cryptocurrencies. In this review, we’ll show you how to identify such scams and point you towards more credible ways to enter the world of financial trading.

Astrofxoptions Regulation and safety of funds

When you visit the website of a legitimate broker you can expect to find clear and detailed information about the company that owns and operates it, where it is based and what regulatory regimes it is subject to. Licensed financial services providers are also required to provide a comprehensive set of legal documentation.

Astrofxoptions, however, does not disclose which company is behind the website. The text of the Terms and Conditions is only a few paragraphs long and is on behalf of a completely different brand – Ultrayield. Such inconsistencies are typical of scam websites.

Astrofxoptions claims to have offices in the United Kingdom and the United States. But a check of the records of the relevant financial regulators reveals a warning that Astrofxoptions is not an authorised forex broker.

Under no circumstances should you trust your money to such anonymous websites full of false and contradictory information. Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like Cyprus Securities and Exchange Commission (CySEC) or Financial Conduct Authority (FCA) in the UK. As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK.

Astrofxoptions Trading software

Astrofxoptions does not have any trading software. This shows that we are dealing with a low-effort scam that relies on fooling inexperienced people who don’t know what to expect from a real broker.

If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used trading platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Astrofxoptions Trading instruments

Astrofxoptions has neither the legal authorization nor the technological capability to facilitate trading in financial instruments.

Astrofxoptions Spreads and cost of trading

Legitimate forex brokers offer a variety of trading account types tailored to the needs of clients with different capital and investment intentions. These brokers also provide clear and detailed information on trading parameters – leverage, spread, commissions, order execution method, etc. All we see on the Astrofxoptions website are promises of high returns.

A genuine broker will not and cannot promise you guaranteed profits. In fact, licensed companies are obliged by regulators to warn their clients about the high risk of losses when trading financial instruments.

Astrofxoptions Maximum leverage

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

Higher levels of leverage are only offered to professional clients who trade entirely at their own risk. If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Astrofxoptions Deposit and withdrawal methods

Astrofxoptions only allows funds to be deposited using methods that do not allow refunds or chargebacks – cryptocurrencies and wire transfers. The wire transfer is to a private individual’s account.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.

Astrofxoptions Minimum deposit

Astrofxoptions specifies a minimum deposit of 250 USD, which is the industry standard. But this means that for the same amount you could open a trading account with an established and duly licensed forex broker. Some of the leading brands in the industry offer Micro and Cent accounts with a very low entry threshold that are suitable for novice investors.

Astrofxoptions Withdrawal requirements

Since Astrofxoptions does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.