AIMSFX Review: This Broker Might Not Be the Best Choice for You
AIMSFX looks like a good broker, but there is more than meets the eye. On the one hand, it has some nice features, but on the other, it has a questionable background, which makes its offer less appealing.
Read our AIMSFX review to find out some details you might not have known and see if you want to invest after all. We won’t keep you waiting any longer, so let’s jump right in.
|Auric International Markets Ltd
|Warnings from Financial Regulators:
|No official warnings
|Email: [email protected]
|Majority of clients are from:
|Yes (24h live chat)
Let’s first cover the AIMSFX regulation. Here’s the deal. AIMSFX, together with its parent company Auric International Markets Ltd, holds several trading licenses, most notably the Australian ASIC one. This is a trusted regulator which can ensure the safety of your funds. You might be thinking, what’s the hold up?
Well, although an Australian license is great, we learned the broker also operates offshore, which is always troubling. Being regulated is a must for every broker, but it does not guarantee they will behave well. We have reasons to suspect that AIMS FX operates both legally and illegally, so beware.
When you are looking for a legitimate broker, you want them to be regulated by respected authorities. You can find reliable regulatory bodies in Malaysia, Singapore, Indonesia, South Africa, and India. However, make sure that the broker also does not have an offshore branch, as that can be problematic, like in the case of AIMSFX.
AIMSFX knows how to market itself and it does so rather well, by showcasing a couple of standout features. The best one, in our opinion, is the AIMSFX mt4 platform.
All traders know by now that MetaTrader 4 and 5 are the best platforms in the business. MT4 has a nice set of advanced features and over 30 tools all wrapped up in a very user-friendly interface. It is a trader’s best friend and we have no doubt this will change any time soon.
Next, we have AIMSFX account types, two of them to be precise. There is:
- Standard – $50
- MAM – $10,000
This is where we start to see some concerning features. The $50 minimum deposit is very nice, allowing even traders on a budget to start trading with AIMS FX, but we have a problem with the other account type. A $10,000 price tag is way too much for us, and it points in the direction of a scam, so please keep this in mind.
The broker has a relatively standard financial instruments offer which includes currencies, shares, popular indices, metals, and commodities. There is no AIMSFX deposit bonus but traders have an option to open an AIMSFX demo account.
|Standard – $50
MAM – $10,000
|Financial Instruments On Offer:
|Currencies (USD, EUR, GBP, etc.)
Shares (Facebook, Apple, Tesla, etc.)
Indices (VIX, USDX, etc.)
Metals (gold, silver, etc.)
Commodities (oil, sugar, etc.)
|Education or Extra tools:
Is This Broker Safe?
We do not give them our full vote of confidence. They do have a strong and trustworthy license from the Australian ASIC and the Malaysian SC, and if the list stopped there we would have no problem recommending them. However, they also operate from an offshore branch and this is why we cannot fully trust their intentions.
There are ways to get to 100% legitimate brokers, though. Contact us today, and we will advise you for free about your trading options.
Trader Reviews – Sharing Experiences
A vital part of any unbiased broker review is the trader reviews section and this one is no exception. They provide us valuable insight into brokers’ practices, customer relations, and other essential things.
There are not many online reviews for this broker, which can be a sign of an AIMSFX scam. On Forex Peace Army, we found two drastically different reviews.
One was extremely negative, saying: “Unable to withdraw my funds! Their customer service gives me the run around each time. “We have sent your inquiry to the support team to further investigate and check. Will respond as soon as we receive feedback.”” The review ended simply with “Scammers.”
The other comment was overwhelmingly positive: “Best platform to trade with STP business model. Regulated broker with PII coverage. Low cross pair spread.”
How Does the AIMSFX Platform Reach Clients and Who Are They?
As mentioned, AIMS FX operates in many countries, 14 to be exact, including Australia, Malaysia, China, Japan, etc. After some research, we concluded people from the following region have the most interaction with the broker:
Deposits and Withdrawal Methods
Coming to the AIMSFX deposit section, we can report the broker accepts many payment methods:
- Local banks in Singapore, Vietnam, etc.
- Bitcoin, etc.
The AIMSFX EURUSD deposit is available for most payment methods and you can make AIMSFX withdraw requests in those currencies as well. Additionally, the broker charges no fees for either deposits or withdrawals.
Reasons To Avoid This Company
The AIMSFX platform has a lot to offer, but we would rather choose a different broker. The main concern we have is the AIMS FX offshore branch, which is fruitful ground for scams. ThorFX taught us to never trust offshore brokers, which we are applying with AIMSFX as well. And speaking of fraudulent brokers, you should also stay away from Tierra 500 and TheBTCPro.
Long Story Short – AIMSFX
Having reached the end of our AIMSFX Review, we can conclude that there are better brokers out there for you. Although they operate with a license, their offshore office is a major point of concern.
However, there are plenty of legitimate brokers, and you can contact us if you do not know how to choose a broker. We will help you with anything you need, free of charge.
Is AIMSFX Regulated?
Yes, but there is more to the story than that. They have some legitimate and reliable licenses, but they also have an offshore office, which is a huge hit to their trustworthiness.
What is the minimum deposit for AIMSFX?
The minimum deposit at AIMSFX is $50. This would be a good option if the broker was 100% reliable.
Does AIMSFX offer a demo account?
Yes, AIMSFX offers a demo account. You can open it for free.