Thinking of getting into business with Agfia? Here is what you must know about this broker. Carefully read this review to find out if agfia.com is the trading platform you will want to trade with.
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About Agfia Broker
Agfia is an offshore brokerage company with a lot of promises for traders. The broker’s location shows 34 Molesworth St, Dublin, D02 WK52, Ireland.
More so, the broker claims to offer no commission, negative equity protection, 24/6 support, and daily market brief.
There are different account types Agfia offers. See below.
In spite the trading instruments Agfia claims to offer, forex traders must know they are dealing with an unlicensed broker which does not have a regulation over its head.
agfia.com: Reasons to Avoid This Broker
Firstly, agfia.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because no financial authority recognizes this broker to be legit.
Secondly, we noticed agfia.com has a free account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Agfia withdrawal charges for bank wire is $100 and for other payment methods is $50. See below.
Also, the broker subjects forex traders to a service fee of 3.5% that is equal the amount of $30.
Minimum Deposit
Agfia minimum deposit is provided as $250.
As for the payment methods, we can make payment via Debit/ Credit cards and Wire Transfer. However, you should not consider making any payment with this broker because it is a risk. So beware!
Agfia Platform
Agfia offers web based trading software and a claim of offering MT4.
As for the leverage, Agfia provides 1:100. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Agfia Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Conclusion: Is agfia.com a Reliable Broker?
agfia.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
More so, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.