Aden Markets DOO Forex Broker
Basic Information
United Kingdom
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential risk
Aden Markets DOO Forex Broker - Comprehensive Information Guide
1. Broker Overview
Aden Markets DOO, founded in 2023, is an online trading broker based in the United Kingdom. The company operates as a private entity, providing services primarily in the forex market. Aden Markets DOO aims to cater to a diverse clientele, including retail traders seeking access to various financial instruments.
The broker has established its presence by offering a range of trading products and services, including forex, precious metals, cryptocurrencies, stock indices, and crude oil. Despite its relatively recent inception, Aden Markets DOO has positioned itself as a competitive player in the online trading landscape.
The company operates under a straightforward business model, focusing on retail forex trading, allowing clients to trade various asset classes through a single account. However, it is important to note that Aden Markets DOO lacks valid regulatory oversight, which raises concerns about its operational legitimacy.
2. Regulatory and Compliance Information
Aden Markets DOO currently operates without any valid regulatory licenses. It has been flagged by various financial authorities, including the Financial Conduct Authority (FCA) in the UK, for offering financial services without proper authorization. The absence of regulation indicates a significant risk for traders, as there are no legal protections in place for clients' funds.
- Regulatory Status: Unregulated
- Regulatory License Numbers: None
- Regulatory Scope: No valid regulatory information available
- Client Fund Protection: As there is no regulatory oversight, there are no guarantees for the safety of client funds.
- KYC and AML Compliance: The broker's compliance measures regarding Know Your Customer (KYC) and Anti-Money Laundering (AML) policies have not been detailed in the available information.
Due to the lack of regulatory oversight, potential clients are strongly advised to exercise caution and consider using regulated brokers for their trading activities.
3. Trading Products and Services
Aden Markets DOO offers a diverse range of trading products, catering primarily to forex traders. The broker provides trading in 62 currency pairs, along with other instruments such as:
- Precious Metals: Including gold and silver
- Cryptocurrencies: A selection of major cryptocurrencies
- Stock Indices: Various global indices
- Commodities: Including crude oil
The broker does not currently offer certain financial products like bonds, options, or ETFs. The trading services are primarily aimed at retail clients, with no specific mention of institutional services or white-label solutions.
While the product offerings are competitive, the frequency of updates or additions to the trading instruments has not been disclosed. This lack of information may concern potential traders looking for a dynamic trading environment.
4. Trading Platform and Technology
Aden Markets DOO supports the MetaTrader 5 (MT5) trading platform, which is well-regarded in the trading community for its advanced features and user-friendly interface. Key aspects of the trading platform include:
- MT5 Support: Available for Windows, iOS, Mac, and Android devices.
- Execution Model: The broker appears to operate under a Market Making model, although specific details have not been confirmed.
- Server Infrastructure: The broker's servers are located in the United States, which may impact latency for clients in other regions.
- API Access: There is no specific information provided about API access or support for automated trading.
While the MT5 platform is known for its reliability and advanced charting tools, the broker's overall technical infrastructure and performance metrics remain unclear.
5. Account Types and Trading Conditions
Aden Markets DOO offers a single type of trading account, which is a real account. The trading conditions are as follows:
- Minimum Deposit: $100
- Spreads: Starting from 0.0 pips
- Commission: $3 per side for standard lot sizes
- Leverage: Up to 1:100, which can amplify both profits and losses.
- Minimum Trade Size: Specific details on minimum trade sizes have not been disclosed.
- Overnight Fees: Information regarding overnight fees is not provided.
The broker does not offer a demo account, which may deter new traders looking to practice before committing real funds. Additionally, there are no specialized account types, such as Islamic accounts or corporate accounts, mentioned in the available information.
6. Fund Management
Aden Markets DOO supports various deposit and withdrawal methods, ensuring flexibility for its clients. The key details regarding fund management include:
- Supported Deposit Methods: Credit/debit cards, bank transfers, and e-wallets.
- Minimum Deposit Requirement: $25 for credit/debit card and bank transfer accounts.
- Deposit Processing Time: Instant for credit/debit cards and bank transfers.
- Withdrawal Methods: Similar to deposit methods, including credit/debit cards and e-wallets.
- Minimum Withdrawal Fee: $50 for credit/debit cards and bank transfers; a 2% fee applies for e-wallet withdrawals.
- Withdrawal Processing Time: Instant for credit/debit cards and bank transfers; 1-3 business days for e-wallets.
The absence of detailed information regarding withdrawal limits and processing times raises concerns about the broker's transparency in fund management.
7. Customer Support and Educational Resources
Aden Markets DOO provides customer support primarily via email. The details are as follows:
- Support Channels: Email support at support@adenfx.com.
- Service Availability: The specific service hours and time zone coverage are not mentioned.
- Language Support: The broker offers support in English.
- Educational Resources: There is no detailed information on educational resources, such as webinars, tutorials, or e-books, available for traders.
- Market Analysis Services: The availability of daily analysis, news, or research reports is not specified.
- Trading Tools: Information regarding trading calculators, calendars, or signal services is not provided.
The lack of comprehensive customer support and educational resources may hinder traders, especially beginners, from maximizing their trading potential.
8. Regional Coverage and Restrictions
Aden Markets DOO primarily serves clients in the United Kingdom and potentially other regions, although specific details on geographical coverage are limited. The broker's operations are focused on providing trading services to retail clients.
- Main Service Markets: Primarily the United Kingdom.
- Regional Offices: The broker's main office is located in Podgorica, Montenegro.
- Countries Not Accepted: Specific countries or regions where clients are not accepted have not been disclosed.
- Special Restrictions: No additional restrictions have been mentioned.
Given the lack of regulatory oversight, potential clients from various jurisdictions are advised to conduct thorough research before engaging with the broker.
In conclusion, while Aden Markets DOO presents a range of trading products and services, the lack of regulatory oversight and transparency raises significant concerns for potential traders. It is advisable to consider regulated alternatives to ensure the safety of investments and compliance with local laws.
Aden Markets DOO Similar Brokers
Latest Reviews
畫個圈圈⭕️
Taiwan
Manager Lin, Taiwan Service Provider of AdenMarkets Doo: Withdrawal of the dividends will be made on December 7th. The withdrawal was refused on December 8 because the capital account was frozen. It’s Suspected of money laundering. First, the corresponding deposit can be withdrawn immediately. Second, you can withdraw cash after the supervisory bureau investigates and confirms that there is no money laundering in the account (about 1-3 months). On December 20, AdenMarkets Doo Manager Lin said that cash withdrawals could be made and the capital account confirmed that there was no money laundering involved. He also said I need to pay a deposit of 15%, then I can withdraw. I don’t understand why I need to pay a deposit before withdrawing money even if my account is restored. Then I didn’t pay the deposit. Just in the past two days, Manager Lin came to me again and asked me to withdraw the complaint so that I could withdraw the money. I followed what he said and withdrew the complaint. On January 7, 2024, I did what he said, and he said that the funds could be credited to my account before noon on Tuesday at the latest. Yesterday, I was asked to send emails to three mailboxes respectively, saying that the problem had been solved. And then he told me that the account would be credited today, January 9th. As a result, I sent a message to Manager Lin today but received no response. The withdrawal issue has not been resolved. I was defrauded of NT$3.2 million, causing me to be pursued by underground banks!
Exposure
2024-01-09
畫個圈圈⭕️
Taiwan
After paying the dividend on December 7, the cash withdrawal was refused. On December 8, the cash withdrawal was refused. It was said that the capital account was frozen (the reason was suspected of involving money laundering). The corresponding deposit was immediately withdrawn from the account. The second supervisory bureau investigation confirmed that the account was empty. Money laundering can be withdrawn (about 1-3 months). Yesterday, December 20, AdenMarkets Doo Manager Lin said that cash can be withdrawn. The capital account has been confirmed to be free of money laundering. Now you need to pay a deposit of 15% before you can withdraw. I don’t understand why I need to pay a deposit before I can withdraw money even if my account is restored.
Exposure
2023-12-28
DHIEWJ
Netherlands
Aden Markets DOO have been a strong competitior in the broker market for a while and continue to do great marketing and advertising as a leading broker but could offer more crypto pairs to trade would make them better.
Positive
2024-07-04
Stefan Weber
France
Aden Markets DOO's mt5 platform is packed with various technical indicators, perfect for experienced trader like me. However, they didn't respond to me timely. Three stars is what I gave them.
37130
2024-06-25
畫個圈圈⭕️
Taiwan
After paying the dividend on December 7, the cash withdrawal was refused. On December 8, the cash withdrawal was refused. It was said that the capital account was frozen (the reason was suspected of involving money laundering). The corresponding deposit was immediately withdrawn from the account. The second supervisory bureau investigation confirmed that the account was empty. Money laundering activities can be withdrawn (about 1-3 months). Yesterday, December 20, AdenMarkets Doo Manager Lin said that cash withdrawals can be made. The capital account confirmed that there is no money laundering activity involved (now a deposit of 15% is required. It can be withdrawn. Do you know why even if you restore your account, you still need to pay a deposit before you can withdraw it?
Exposure
2023-12-21
temmy2722
Taiwan
On December 29, I was asked to pay a 40% share of NT$1.5 million. After I paid it, on January 2, they said it was frozen by the Financial Supervisory Commission and asked me to pay another NT$1 million. I have already paid it, and still can’t withdraw the money. Aden Markets DOO, a manager Lin contacted me.
Exposure
2024-01-11