Is AsicTrader Scam or Legit Broker?

AsicTrader has been suspected as a scam broker. According to the broker’s website, it is located in Scotland. However, it does not have any license from the local regulator, which means that the broker is not regulated and authorized to offer its services. 

About AsicTrader
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is AsicTrader safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is AsicTrader?

AsicTrader is a broker that offers Forex, CFD, and cryptocurrency trading. The company is owned and operated by Hellax Corp LP and claims to be based in Edinburgh, Scotland.

  • In order to have a legal right for offering financial services in the UK, the brokers would need to have a license from UK’s regulator Financial Conduct Authority. However, AsicTrader is not regulated by the FCA or any other regulator. Moreover, the FCA has issued a warning against this broker:
    “Asic Trader / Hellax Corp is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”

AsicTrader - official website

AsicTrader Review Conclusion

We recommend to avoid trading with unlicensed brokers and choose among the regulated ones. The most reliable regulators are the UK’s FCA, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC). These regulators require a certain amount of capital from the brokers to guarantee the compensation of funds and a certain level of safety of clients’ money, such as BDSwiss and FBS.

AsicTrader Update

Based on our research, the AsicTader website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals. 

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