The broker AsiaFxi provides five types of live trading accounts: Starter, Standard, Pro, VIP and Premium. There are also Islamic accounts with no interest/swap charges on overnight positions and a free demo account.
The trading instrument list includes forex pairs and CFDs on gold, silver and oil, which is a rather limited selection.
The Company. Security of Funds
AsiaFxi appears to be a rather shady forex broker. It does not provide any information about where it is based, besides a contact address in Nicosia, Cyprus. It claims it offers “a forex solution under a fully licensed and regulated environment”, but does not give any specific information whatsoever and is definitely not regulated by Cyprus’ financial markets regulator, the Cyprus Securities and Exchange Commission.
Also according to its site, AsiaFxi is operated by IFX Investment House Ltd. Our check revealed that the company is registered in the UK, but has overdue filing of accounts and annual returns. On the other hand, the Financial Services Commission of the British Virgin Islands has issued an advisory warning against IFX Investment House Ltd. in September 2016. According to the notice, the company has been offering products and services through a website located at www.traderecoveries.com which falsely claims to be headquartered in the Virgin Islands.
Those facts are should be big enough warning signs that the broker is dodgy, to say the least. Adding to this is the incomplete and vague information about their trading conditions and the lack of information about client fund security.
AsiaFxi offer trading on a proprietary web platform, which uses data feeds from the major US forex broker FXCM and chart visualizations from the social and trading platform TradingView.
The broker does not offer the popular MetaTrader 4 platform, which can be considered a significant setback, as most forex traders are well familiar with it and it has many features and functionalities, as well as a mobile version.
AsiaFxi claims to also offer a mobile application, but we could not find any neither in the Google Play store, nor in iTunes.
The broker offers welcome bonuses on all accounts, depending on the type of account and deposit. Additionally, the holders of Standard and Pro accounts can get additional bonuses, as per the broker’s terms and conditions.
Methods of payment
AsiaFxi accepts deposits via the standard for most brokers options: local bank transfer, credit and debit cards and the electronic payment systems Neteller, Skrill and PayPal.
AsiaFxi Review Conclusion
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