Note: AWS FX Bank official site - https://awsfxbank.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is AWS FX Bank？
AWS FX Bank, a global brokerage with headquarter in the United Kingdom and operations in Hong Kong and Cyprus, claims to provide a wide range of market instruments, including Forex, Stocks, Commodities, Crypto, Bonds, and Indices. However, it's essential to highlight that AWS FX Bank currently lacks regulation from any recognized financial authorities, and its website is inaccessible. These factors introduce significant investment risks associated with the platform.
In our upcoming article, we will conduct a comprehensive and structured assessment of the broker's offerings and features. If this subject interests you, we invite you to continue reading. At the conclusion of our analysis, we will provide a concise summary to offer a clear overview of the broker's distinctive characteristics.
Pros & Cons
Pros:
AWS FX Bank presents traders with a variety of instruments and offers tiered account options. This diversity can be appealing to traders looking for different market opportunities and account types.
Cons:
However, it's vital to note that the broker operates without regulatory oversight, raising significant concerns about safety and security. The unavailability of its website is another troubling aspect, potentially indicating operational issues. Additionally, the absence of popular trading platforms like MT4/5 and the imposition of inactivity fees could be discouraging for some traders.
When considering AWS FX Bank, it's essential to weigh these pros and cons carefully and exercise caution in your decision-making process.
Is AWS FX Bank Safe or Scam？
When considering the safety of a brokerage like AWS FX Bank or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
Furthermore, the unavailability of their official website suggests a potential suspension of their operations, further amplifying doubts. These combined factors significantly increase the potential risks associated with investing through their platform.
User feedback: To gain insights into the brokerage, traders are recommended to read reviews and feedback from other clients. These opinions and experiences shared by users can be found on well-regarded websites and forums.
Security measures: So far we cannot find any security measures info on Internet for this broker.
Ultimately, the decision of whether or not to trade with AWS FX Bank is a personal one. You should weigh the risks and benefits carefully before involving any real trading.
Market Instruments
AWS FX Bank offers a diverse range of market instruments, including Forex, Stocks, Commodities, Crypto, Bonds, and Indices. This variety provides traders with multiple options for diversifying their portfolios and exploring different asset classes. However, it is crucial to remember that the lack of regulatory oversight for this broker may pose risks, and potential clients should proceed with caution and conduct thorough research before considering it as a trading platform.
Account Types
AWS FX Bank offers a range of account types to cater to different trading needs. These account types include STANDARD Account with a minimum deposit of $250, PROFESSIONAL Account with a minimum deposit of $10,000, BUSINESS Account with a minimum deposit of $30,000, and BUSINESS PLUS Account with a minimum deposit of $100,000. Traders can choose the account type that aligns with their trading preferences and financial capabilities.
Leverage
AWS FX Bank advertises that it provides leverage options of up to 1:100. This level of leverage can be enticing to traders looking to amplify their potential profits, as it allows them to control larger positions with a relatively smaller capital investment.
However, it's crucial for traders to approach such high leverage with caution, as it also entails a heightened level of risk. While the potential for greater returns exists, the risk of significant losses is equally substantial. Therefore, traders should exercise prudence and have a well-defined risk management strategy when considering the use of such high leverage in their trading activities.
Spreads & Commissions
While AWS FX Bank may advertise spreads starting from 0.0 pips, the verified spreads being 1.0 pips suggest that actual market conditions may differ. Additionally, the absence of commission information adds to the lack of transparency regarding trading costs.
Traders should be cautious and consider these factors when assessing the broker's offerings and reach the broker directly for more details if in interest.
Trading Platforms
AWS FX Bank provides traders with a web-based trading platform as their primary tool for executing trades and managing their portfolios.
However, it's important to note that the broker does not offer the popular MetaTrader 4 (MT4) or MetaTrader 5 (MT5) trading platforms. Traders who prefer the features and functionality of MT4/5 may need to explore alternative brokerage options.
Deposits & Withdrawals
AWS FX Bank offers a variety of payment methods for its clients, including Visa and Mastercard for credit and debit card transactions, Bitcoin transfer, Litecoin, and traditional bank transfers.
These payment options provide flexibility for traders to fund their accounts and withdraw their earnings, catering to a range of preferences.
Fees
AWS FX Bank imposes a $50 maintenance fee for accounts that remain inactive for a continuous period of 30 days or more. To avoid incurring such fees, traders should ensure they engage with their accounts regularly or consider closing them if they no longer intend to use them actively. It's essential for traders to familiarize themselves with the specific terms and conditions of their broker to understand any applicable fees and policies.
Customer Service
AWS FX Bank offers customer support primarily through phone and email channels. While these options provide approaches for assistance, the absence of more diverse support channels such as live chat may limit accessibility for some traders.
Phone: +44 20 8133 3413.
Email: support@awsfxbank.com.
Conclusion
AWS FX Bank, an online broker with a global presence and its main office situated in the United Kingdom, purports to offer an extensive selection of trading instruments. This selection includes Forex, Stocks, Commodities, Crypto, Bonds, and Indices, as per the information found online.
However, alarm bells ring when we note its unregulated condition, as any broker worth its salt typically adheres to financial regulations of recognized institutions to ensure client safety, credibility, and trustworthiness.
Adding salt to this wound is the ongoing issue with the accessibility of their website, which further tarnishes their professional image and reliability.
Hence, it would wise for potential investors to tread with caution when considering AWS FX Bank as a trading platform. It is highly advisable to consider other brokers with appropriate regulatory compliance which to some certain extents promises transparency, safety, and stringent professionalism in their operations.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
