Askotrade Review – Flaws of Askotrade.net Services Revealed

The company presents itself as the number one trading platform today. However, they forgot to mention a couple of things, such as ownership details, founders, and address. Does that define a reliable and trustworthy company? Definitely not.

That’s why this Askotrade review reveals all the potential risks you are taking by investing with them. Make sure to read everything thoroughly because our advice can apply to numerous brokers out there.

Broker status:	Unregulated broker
Regulated by:	No regulations
Operating Status:	Active Forex and CFD trading scam
Known Websites:	https://www.askotrade.net/
Blacklisted by:	N/A
Owner:	N/A
Headquarters Country:	N/A
Foundation Year:	2022
Online Trading Platforms:	MT5; WebTrader
Mobile Trading:	Yes
Minimum Deposit:	N/A
Deposit Bonus:	Available
CFD Trading Option:	Yes
Crypto Asset Trading:	Yes  – BTC, ETH, LTC (total number unavailable)
Available Trading Instruments:	Cryptos, commodities, stocks, forex, indices
Maximum Leverage:	1:50
Islamic Account:	Not available
Free Demo Account:	Not available
Accepts US clients:	US clients are not accepted
Global Fraud Protection Experts’ Verdict:	The absolutely anonymous approach of this investment firm makes them highly unreliable. We advise you to take extra measures and protect your funds since they are using remote-controlling apps. If you experience any trouble, feel free to contact us for refund advice.

Is Askotrade Legit or Scam?

Even at first glance, you may realize there’s something wrong with this firm. When you go through their T&Cs, you realize the governing law for all disputes is the law of Estonia. Potentially, this is their origin country. Nevertheless, if the company is legitimate, it would have at least one license. Preferably one coming from FCA, BaFin, ASIC, or any trusted institution.

Sadly, that’s not the case with this broker. Therefore, we are wondering how Askotrade reviews are so good. In any case, make sure to read this review before making any rushed conclusions.

Traders Experience

Generally speaking, the company’s reviews look quite decent. But without regulations, are those trustworthy? Even though many traders talk about positive experiences, there are too many signs it won’t be like that.

Anyways, you can check those 21 comments available on Sitejabber. However, you shouldn’t trust those much. Also, we invite you to leave a review in our comment section if you have any experience with this broker. But also, we advise you to contact us in case you want your money back urgently.

How Does Askotrade Work?

Askotrade broker has quite a suspicious offer. They don’t reveal any detailed conditions, fees, costs, or minimum deposit requirements. With this in mind traders can expect a lot of manipulations. Firstly, they will try to attract them with the MT5 platform available, potentially some auto-trading features, or who knows what else.

In the end, it all comes down to one thing. The company will try implementing remote controlling apps like TeamViewer and AnyDesk to access your information, such as banking details, bank account balances, and crypto wallet details. If you accept that, your money can be gone in seconds. If that happens, contact our refund specialists immediately.

Who Are Askotrade Victims?

Since the company is not regulated, it shouldn’t be providing services anywhere. Yet, we all know that those unregulated companies mostly target countries with weak financial control. But that’s not the case with Askotrade Forex broker.

They are mainly targeting:

• Canada
• United Kingdom
• Romania

Therefore, we invite you to share your opinion on the broker in the comments below. Or send us a direct message and start your chargeback today!

What Are Trading Platforms Available?

On the positive side, this brokerage offers a highly trusted MetaTrader 5 platform. Besides, there is a proprietary WebTrader that won’t satisfy all your needs. To be fair, it will at first glance. Ultimately, it can only help you lose all of your funds. In any case, trusted software without regulation means nothing.

Is the Askotrade Mobile Trading App Available?

Since the company is offering MT5, it’s logical to expect iOS and Android apps. Even though, sometimes, that’s not the case.

Luckily, Askotrade crypto and Forex broker offer it. Still, regulation plays a key role, and you can see that from our Expo Trust review as well.

What Financial Instruments Does The Platform Include?

Since none of the features can be trusted with this broker, especially Askotrade WebTrader, why would we trust their instruments offer? Apparently, they are offering more than 300 assets, such as:

• Forex – USD/EUR, AUD/SGD
• Indices – NASDAQ, DowJones
• Commodities – gold, crude oil
• Shares – Amazon, Boeing
• Cryptocurrencies – BTC, BNB

Account Types Offered by Askotrade

One of the biggest disappointments about this broker is the company’s low transparency about deposit requirements. Obviously, they will take anything they can from you. But in exchange, do you believe you will get anything? You better don’t.

Can a Trader Use an Askotrade Demo Account?

Another failure of this company is a lack of demo accounts. Usually, all trusted companies offering MT5 include demo accounts in their offer. But with this broker, obviously, there’s something hidden.

If you are also exploring your crypto investment options, don’t miss out on some tips from our Chronos Exchange review.

Askotrade Fees, Leverage, and Commission

Another suspicious detail about this broker is its trading costs. Apparently, they don’t charge any fees or commissions. But also, they are offering tight spreads. So, how do they make money then? The answer is from your deposits.

To be fair, the company offers acceptable leverage of up to 1:50. This is in line with some regulations but not European. Bear that in mind.

Is the Askotrade Welcome Bonus Available?

As can be seen from the company’s T&Cs, bonus deals are available. Those are called non-deposited funds, and there will be special policies around them. Yet, those are not disclosed. So, be extremely careful.

Is Askotrade Withdrawal Possible?

Askotrade withdrawal is another mystery we have to solve. Firstly, they don’t specify what payment methods are acceptable. Even though they have logos of popular companies like Visa and Master Card, they will accept cryptos, AstroPay payments, and wire transfers.

However, withdrawal details, such as processing time and fees, remain unknown in the first place. But if you see brokers offering AnyDesk and TeamViewer, know they are not up to good.

What Should I Do If I Have an Askotrade Problem?

All problems with an Askotrade scam broker should be resolved with adequate regulators. In this case, it could potentially be FI Estonia or any other European regulator. However, if you are looking for a way to recover the funds, you are already at the right place.

Our specialized refund team is there to advise you about the next step. Whether you need chargeback advice or a CipherTrace tool to track your cryptos, we’ve got you covered. Feel free to contact us and book your first consultation completely for free!