Scam brokers keep getting better and better in their scam practices. They will put a lot of money toward making a legit-looking website that can sometimes fool even traders with experience.
Asset Wage is one of those brokers, allegedly operating from the UK, and giving its customers the opportunity to invest in forex, CFD, and much more. However, after our thorough investigation, there is so much to be said about this broker and the fraudulent tactics they use.
Continue reading our Asset Wage review to learn how to stay away from this scam and keep your funds safe.
|Headquarters||Leadenhall Street 36-38, UK|
|Broker Type||Forex & CFD|
License and Regulations of Asset Wage
Once you enter their website, there are so many claims we must talk about.
First of all, they claim to be registered with the SEC, which is one of the main legal financial enforcers in the United States, but with no power to regulate brokers. Furthermore, they claim to be regulated by both ASIC and the FMA in New Zealand. And after checking in regulators’ databases, it was obvious that this is just another lie.
In conclusion, it is safe to say that this broker doesn’t have any of the licenses they claim to have.
Additionally, on their website can be found many awards they allegedly won, and the partnership with a famous football club, which are all just lies written to seem more legit to the potential traders.
Trading Platform Available at Asset Wage
Asset Wage scam advertises access to industry-standard MetaTrader4, however, after just a quick look, it is obvious that this is just some poorly made web platform. Many fraud companies have been found to manipulate their platforms to make it seem like their clients’ money is being traded, when in fact that is not the case.
This entire trader lacks structure, and there are basically no features you can use. Essentially, what this broker provides are various charts you can just look at and do nothing.
Deposit and Withdrawal Methods
Asset Wage broker offers two payment methods. The BTC wallet and a wire transfer option.
Many scam brokers will actually rush you to deposit in Bicton as these transactions are much harder to trace and get a chargeback once you figure out they are just trying to scam you.
As for withdrawal policy, Asset Wage allegedly lets users take out money by a bank transfer or using three separate crypto wallets. But after reading many reviews we found many complaints stating many withdrawal issues. We read carefully the policy broker provided on their website and the conclusion is that users will never be able to withdraw any money.
There is a 0.005 fee, applied to all crypto transactions. Also, we found that the maximum withdrawal amount is 0.0005 Bitcoin, which is around $10, meaning that the user really has no choice in withdrawing anything.
If you have ever been scammed by this or any other fraudulent broker, reach out as we can help you report them. Keep in mind that getting your money back is possible, but you have to be diligent about it.
Offshore Brokers Fraudulent Tactics
There are many shady tricks offshore brokers pull to make their potential clients to invest.
Most commonly, they will offer very high deposit bonuses, which of course come with a certain set of strings attached. To withdraw any money, you will typically need to reach an enormous turnover. Of course, that is practically impossible as the platform you will use for trading isn’t even the legit thing.
Another tactic this particular broker uses is trying to look legit by putting various awards they allegedly got over the years, and of course, there is a partnership with the Manchester City football team.
It is obvious these claims are nothing more than a bunch of lies written to get you to invest. And in combination with persuasive agents that will likely call you every day to convince you this is a legit thing, it can be hard to stay firm and avoid them.
The Best Brokers for Forex
With investment scams that try so hard, as Asset Wage does, it can be hard to be sure if they are legit or not without further investigation. There are so many phony brokers out there offering legit-looking websites in order to scam even the traders who have been trading before.
Investing is best done with a broker who hasn’t violated any terms and conditions, as this will ensure your money isn’t going to waste and you can actually make some profit along the way.
In the table down below, we will provide you with all the necessary details about some good reliable brokers you can trust to.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Asset Wage Summary
In this Asset Wage review, we tried to give you a good explanation of how this scam broker operates. They are allegedly based in the UK and offer trading in forex, CFD, indices, commodities, oil, and crypto. However, they are operating without a license and follow no regulations and therefore offer no safety for your funds.
You can find many complaints against the broker made online and all of them state that after they deposited the money, the broker disappeared into thin air.
Always be cautious where you invest your money, and stay as far as possible from this unscrupulous broker
FAQs About Asset Wage Broker
Is Asset Wage Regulated?
No, Asset Wage is an unregulated scam broker operating without any license.
What is The Minimum Deposit for Asset Wage?
This scam broker demands at least $1000 as an initial deposit for further investing.
Is Asset Wage a Trustworthy Broker?
Asset Wage is not a trustworthy broker and any business with them should be avoided.