It can be difficult for users to refuse working with a broker that offers not only classic trading, but also copy trading and investments in PAMM accounts. In today’s assexmarkets.com review, we are looking at exactly such a multifunctional platform. However, upon closer examination, it becomes clear that this is a trivial scam, and its clients will never be able to get their money back. Looking for details? You will find them below.
Quick Overview
Domain: https://www.assexmarkets.com/
Company Name: Assexmarkets Global Ltd
Year Founded: 2024
Jurisdiction: Saint Lucia
Legal Status: No license
Minimum Deposit: 1 USD
Leverage: Up to 1:2000
Available Assets: Forex pairs & CFDs on shares, indices, commodities, cryptocurrencies
Trading Platforms: MetaTrader 5
Account Types: Standard, Standard Cent, Leverage Plus, Raw Spread
Deposit/Withdrawal Methods: Bank transfers, Crypto
How to Register on the Website
To provide the most complete and accurate information about the activities of AssexMarkets, we needed to obtain an active account with this broker. Registration turned out to be simple: the registration form requires filling in only three fields:
- Email address.
- Country of residence.
- Password.
Additionally, the user must confirm that they are not a resident of the United States. After submitting this minimal set of information, the new client gains access to the client workspace. What was most surprising is that upon logging in, the user is greeted by a banner stating that it is possible to fund the account, trade, and even withdraw up to $20,000 without completing verification.
What is also interesting is that in the AssexMarkets client dashboard, users will find only standard sections: user profile and verification, trading account creation, deposits and withdrawal requests, and transaction history. Nothing else — no sources of signals for copy trading, no PAMM account strategies or managers. This means that clients are misled even at this stage, as the programs described in separate sections of the website are not actually implemented.
Does this look like a real broker that can be trusted? In our opinion, not really.
AssexMarkets Trading Instruments and Platforms
The Markets section of the broker’s main menu is strikingly similar to what we have seen on dozens of semi-legal or outright scam projects. It lists the asset groups available for trading and, additionally, provides brief descriptions for each group, outlining trading features, supposed advantages, and the benefits of working with AssexMarkets.
It looks quite impressive, especially for beginners. However, traders would benefit far more from detailed information about each market, its characteristics and specifics, as well as descriptions of strategies that could enable profitable trading. But we have already mentioned this — the company’s specialists are only capable of finding generic texts online and modifying them using neural networks. Their level of expertise does not allow them to provide more specific and useful information.
By the way, the tables published on the website with lists of trading instruments fully confirm our opinion. Traders would naturally expect to find contract specifications in this section. However, AssexMarkets failed to provide even that, replacing them with information about current quotes. Moreover, the data in these tables is not even updated in real time. The most striking issue, however, is the calculation of spreads. For example, for the EUR/USD pair, the difference between the buy and sell prices (1.15119 and 1.15095 respectively) is stated as 0.9 points, rather than the actual 2.4 points. It seems the company struggles even with basic arithmetic.
The only somewhat positive point is that the broker claims to have acquired one of the best terminals in the industry — MetaTrader 5, which unlicensed companies cannot officially obtain. At the same time, there is no information about which versions from the full software package are available to clients: whether traders can download a MacOS application, mobile terminals for Android and iOS, or use a web-based platform.
On the official website, all “Download MetaTrader 5” buttons lead only to the login/registration page. At the same time, there is not a single link in the client dashboard to launch or download the terminal. This even made us question whether the company had actually obtained this software at all. Our doubts were dispelled only by the server list in MetaQuotes applications, where Assexmarkets Global Ltd was indeed listed as a provider.
Account Types Offered
The publication of the trading conditions offered by AssexMarkets also leaves much to be desired. As mentioned above, the company replaced contract specifications in the Markets section with quotation tables, the data in which is not updated. Some brokers operating on similar websites place detailed information about trade parameters in the section where they describe account types. Unfortunately, the owners of this project have decided not to provide traders with such important details here either.
Let us start with the main page. Here we see three account types: Standard, Leverage Plus, and Raw Spread.
For all three tariffs, zero spreads and swaps are stated, a minimum deposit of $1, and trade volumes starting from 0.01 standard lots. In fact, the accounts differ only in the size of the maximum leverage: 1:200 for Standard, 1:500 for Raw Spread, and Unlimited for Leverage Plus.
However, the company’s website has an entire section dedicated to account types, and the information presented there differs significantly from what is shown on the main page.
First of all, there are two Standard accounts listed there, including a Standard Cent account, which is not shown on the main page at all. According to this section, spreads on these accounts start from 0.3 points, no trading commissions are charged, and leverage is unlimited. In addition, the minimum deposit starts from $10 for the cent account and from $100 for the standard one. Which information should be trusted? In the client dashboard, we found that leverage is in fact limited to 1:500, and we did not find any cent account at all.
The situation with the Leverage Plus account is even more interesting. On its page in the Accounts section, information about the Raw Spread account is displayed instead. Unlike the data shown on the main page, we saw a minimum deposit of $10, leverage of up to 1:2000, and a trading commission of $3 per lot. At the same time, spreads are still indicated as zero.
As for the Leverage Plus account itself, no alternative information could be found, since both links (Leverage Plus and Raw Spread) in the Accounts menu lead to the same page. However, based on information from the client dashboard, we can confidently state that there is no unlimited leverage here. The maximum leverage offered by AssexMarkets to account holders is 1:1000.
As a result, the actual trading parameters remain unclear. The information provided by the broker can hardly be considered reliable. At the same time, we were unable to download the trading terminal, where it would have been possible to view real contract specifications (unfortunately, no download links were found).
We believe you have once again assessed the “professionalism” of the platform’s staff. We will say in advance that such confusion has existed since the launch of the official website, that is, for more than a year and a half. At the same time, the company appears to be perfectly satisfied with this situation. Do you think such a firm can be considered ready for honest work?
Deposits and Withdrawals
We have already understood that it is not worth expecting reliable information about any aspect of the broker’s operations. This was once again confirmed by the data related to non-trading transactions. On the Deposit & Withdrawals page, it is stated that account funding is available via bank transfers, VISA/MasterCard debit and credit cards, and digital currencies.
In the AssexMarkets client dashboard, we see a completely different picture. Clients can deposit funds only using cryptocurrencies. Card transactions are not mentioned at all, and bank transfers are available exclusively in Nigerian naira (NGN). This surprised us somewhat; however, in the mobile application we found information indicating that the company’s office is located in Nigeria. Apparently, this is what explains such limited banking options.
As for whether cryptocurrency transfers comply with AML policies, we did not even consider discussing this issue. As already mentioned above, the company does not provide such a document to traders anyway.
AssexMarkets Legal Status: Legitimate or Not?
There are so many issues in the broker’s operations that our suspicions that we are dealing with a scam project have significantly strengthened. However, drawing conclusions without analyzing official company information would be incorrect.
The footer of the official website states that the platform is operated by Assexmarkets Global Ltd, registered in Saint Lucia as an IBC (International Business Company) under registration number 2024-00223. We checked this information.
As we can see, it is confirmed: the company was indeed registered on April 4, 2024. Its only problem lies in the type of registration. The requirements for such legal entities intending to conduct brokerage activities on the international market differ significantly from those imposed on companies planning to provide such services within the region.
For the latter, the presence of a local office is mandatory, as well as a director and/or owner or main shareholder with local citizenship, a substantial authorized capital, and, most importantly, a license. Such a license is issued by the Financial Services Regulatory Authority (FSRA) — the financial regulator of Saint Lucia — in cooperation with the main regional regulator, the Eastern Caribbean Central Bank (ECCB). Obtaining this license requires passing thorough checks, which usually take more than six months.
For the former category, which includes AssexMarkets, obtaining a license is not required. At the same time, the law prohibits such companies from providing brokerage or dealer services within the country and the region. However, no restrictions are imposed on operating in other jurisdictions. All that is required is the timely payment of an annual registration renewal fee in the amount of USD 200–500. Other requirements also do not apply to these companies, including director or shareholder residency, the presence of a physical office, or a staff of properly qualified employees. They are also exempt from conditions mandatory in other jurisdictions, such as capital adequacy, participation in compensation schemes, client risk limitations, regular audits, etc.
Company History
Information about how long a broker has been operating online is also important for traders. However, the company has traditionally chosen not to disclose this as well. We had to rely on third-party sources, estimating the platform’s launch date based on data from the WHOIS service.
According to this service, the active domain assexmarkets.com was registered in early June 2024. This corresponds with the company’s registration date in Saint Lucia, and even snapshots from the Web Archive confirm that a fully functional website was already in place in June 2024.
We have already mentioned that all of this looks rather strange. Over such a substantial period of time (more than 1.5 years), the broker’s staff have not bothered to put the website in order, eliminate obvious shortcomings, or publish reliable and useful information. Once again, we see a careless attitude on the part of the project’s owners toward their web resource.
Assexmarkets.com Online Reputation
Reviews about the broker found online have become yet another confirmation of our opinion. To begin with, it should be noted that 48 comments on Trustpilot over 1.5 years of activity is far from what one would expect.
However, the number of reviews is not the main problem for AssexMarkets. Their distribution looks disastrous for the company. Only 35% of authors rate the broker positively, while 61% express strongly negative opinions. The main complaint from users concerns delays or outright refusals to process withdrawals. According to traders, it is impossible to withdraw not only large amounts, but even USD 50–100. Moreover, attempts to clarify the situation with customer support usually end with account blocking, after which company representatives stop responding to inquiries altogether.
The Final Take
In our opinion, the materials collected in this AssexMarkets review make it possible to assess the broker’s activities as objectively as possible. Most of the facts indicate that we are dealing with a scam platform. The company that owns it is registered offshore and does not hold a brokerage license, operating illegally in most countries. Other signs of an unreliable company are also obvious: hidden trading conditions, financial transactions conducted exclusively in cryptocurrencies, and unreliable information published on the website. Some clients claim that the project’s management fails to meet its obligations, and experts from specialized portals share the same view. Therefore, cooperation with this company should be avoided.
I checked the databases of various financial regulators and did not find any information about licenses issued to the AssexMarkets broker. However, the trading conditions on this platform looked attractive, and the list of trading instruments was impressive, so I decided to take the risk anyway. What can I say — do not trust unregulated companies. Otherwise, you will end up like me: I cannot withdraw USD 2,000. A typical scam!
Do not get involved with Assex Markets, otherwise you will never see your money again. These are scammers pretending to be a brokerage company. Their platform works only for deposits – no one here intends to pay anything out. At first, they put on a show, making it look like you are trading successfully, and constantly push you to add more funds to your account. If you agree, everything seems fine for a while – until you request a withdrawal. As soon as I submitted a withdrawal request, my account was immediately blocked. No reasons were given. They do not respond to my emails at all. And the amount was not even large – just $1,200. SCAMMERS!