Aiko Markets is a relatively new broker in the financial market, trying to find a way of reaching investors. Thus, we have a catchy slogan: “Trade Easily. Live Freely.”
While this sounds tremendous and may lead you to check out the broker’s offer, you should notice one thing. Nowhere on the website can you find any regulations mentioned.
Read this detailed Aiko Markets review and find out everything about the brokerage.
What is more, we strongly advise you not to invest in OptiumGroup, TheExchangeBank and Keler Group fraudulent brokers.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Aiko International Ltd|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Cryptocurrencies:||Yes – SHIBA, DOGE, BTC|
|Types of Assets:||Forex, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||Yes|
|Accepts US clients:||Yes|
Is Aiko Markets a Trustworthy And Licensed Broker?
Aiko Markets is a brand of Aiko International Ltd, registered in Saint Vincent and the Grenadines. This offshore country has become a widely known hub for scheme brokers thanks to a lack of regulatory supervision. The FSA strictly declared itself unauthorized for Forex and binary options trading firms, directing brokers to opt for a license in the country of service.
We found nothing after checking Tier1 databases, such as FCA, ASIC, BaFin, and more. Simply speaking, Aiko Markets cannot be trusted.
Reasons Not to Trust an Unlicensed Broker
Unlicensed brokers don’t follow any rules, nor must they form a compensation fund. If something goes wrong, no regulator will take responsibility and reimburse you.
That’s why dealing with Tier1 licensed brokers is highly recommended. These have various mechanisms of protecting your funds and are responsible to a higher authority.
So Is Aiko Markets a Legit Broker or a Scam?
Aiko Markets is not a legit Forex and CFD trading brokerage. The company is based in Saint Vincent and the Grenadines and not authorized by any Tier1 regulatory body.
What Do Traders Think Of Aiko Markets?
Aiko Markets is not a pretty popular broker. According to the website inspection, the server is based in China.
Furthermore, numerous negative reviews suggest that this firm doesn’t approve withdrawals. Once they get ahold of clients’ money, they’ll become non-responsive, blocking all communication and customers’ access to a trading account.
Aiko Markets Offers an MT4 Trading Platform?
If there’s one good thing about this firm, it’s the provided trading platform. The broker offers MT4, a great standard in the trading industry. It’s terrific software with various trading features, EAs, and social trading enabled at hand.
However, the issue is with the broker itself. Despite the great platform, your funds are at risk due to the broker’s regulatory status and unregulated trading conditions.
Aiko Markets Offers a Mobile Version Of The Platform?
Access from any Android or iOS device is relatively easy. Each MT4 comes with a mobile app. That’s another advantage of working with MetaTrader. Yet again, the issue with the broker’s license and trading terms stands.
Aiko Markets Accounts Overview
Aiko Markets has 3 Live account types on offer. Here’s a brief summary:
- Scalp – leverage up to 1:500, only FX, gold, and silver trading
- Elite – $25,000, spread starting at 2 pips, $10 commission
- True ECN – spread from 2.5 pips, $7 commission
Besides the Elite account, we don’t have minimum deposit specifications, which is odd enough.
Aiko Markets Broker – Countries Of Service
According to reviews, Aiko Markets broker mainly operates in:
Also, remember the names of the Axen Trade, Fx24trade and Win iCoin trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Customer Support – Communication Channels
Aiko Markets customer support has various communication channels. Once you sign up for an ad, they’ll use email and phone as their main tools. They’ll tell you all the fairytales to make your deposit right away.
Once you fall for the story, account managers might use WhatsApp, Telegram, and other social apps to reach you and send false trading signals to the “chosen group of investors.”
Finally, they might approach you through social media, such as Facebook, Instagram, or even dating apps.
Aiko Markets Range of Trading Markets
Customers can trade in all major markets, including:
- Forex – EUR/USD, AUD/NZD, USD/TRY
- Commodities – gold, natural gas, palladium
- Indices – DAX30, CAC40, FTSE100
- Shares – Adidas, Amazon, Alibaba
- Cryptocurrencies – LTC, XRP, DASH
What Is Known About Aiko Markets’s Trading Conditions?
The firm offers solid spread and unregulated leverage. They also charge quite a high trading commission, starting at $14 for the Scalp account and $7 for the True ECN.
Since this brokerage is unlicensed, it doesn’t have to adjust trading conditions to any regulatory rules. This is what makes your trading risky.
What Is the Broker’s Leverage and Spreads?
The leverage goes up to 1:500. Regulatory limit in the UK and EU is 1:30, while in the US and Canada it’s 1:50. All in all, Aiko Markets allows way higher leverage, implying higher risks.
The spread starts at 0.8 pips for EUR/USD pair, which is lower than the industry standard but brings in high commissions.
Aiko Markets Minimum Deposit and Unknown Withdrawal Terms
Aiko Markets requires a low initial deposit of only $10. But don’t be deceived. Once they get ahold of you, account managers will constantly pressure you to deposit more.
Since the withdrawal terms are unspecified, we doubt you’ll be able to submit a request.
What Payment Method Does the Broker Accept?
The firm accepts only one payment method – cryptocurrencies. Customers can deposit using:
While the broker will try to convince you that you have a variety of choices, the truth is – you’re given the most unsafe method of all.
Why Is Paying In Cryptocurrency Unsafe?
Crypto deposits are risky since digital currency is virtually untraceable. Once the money leaves your wallet, it’s transferred to another wallet ID. But finding out who’s behind the ID can be pretty challenging.
That’s why scammers prefer using crypto and why you should avoid it.
Scammed by Aiko Markets Broker? – Let Us Hear Your Story
If you or someone close to you has been scammed by Aiko Markets, let us know. Our experts may be able to assist in tracing your cryptocurrencies and fund recovery.
Don’t let scammers run with your hard-earned money. Get in touch now to book your free consultation and let us evaluate the case!