ASR Forex Broker
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Competitive leverage options up to 1:500, allowing for significant trading potential. Wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies. 24-hour customer support and account management for traders of varying experience levels.
Serious allegations of being a scam, with reports of fraudulent practices and counterfeit trading platforms. Lack of transparency regarding regulatory status, raising concerns about the safety of funds. Negative reviews from users indicating poor trading experiences and issues with account management.Basic Information
United Kingdom
ASR Forex Broker - Complete Information Guide
1. Broker Overview
ASR Levensverzekering NV, commonly referred to as ASR, was established approximately 5 to 10 years ago. The company is headquartered in Utrecht, Netherlands, with its main office located at Postbus 2072, 3500 HB Utrecht. ASR operates as a private entity, focusing on delivering financial services primarily in the United Kingdom and surrounding regions.
ASR has developed a reputation in the forex trading market, catering to a diverse clientele that includes both retail and institutional investors. The broker aims to provide a comprehensive trading experience through various financial products and services. Over the years, ASR has achieved several milestones, including the expansion of its service offerings and the enhancement of its trading platforms.
The broker operates under a business model that includes retail forex trading, allowing individual traders to engage in currency exchange. Additionally, ASR offers institutional services, providing solutions tailored to the needs of larger financial entities. This dual approach enables ASR to maintain a competitive edge in the evolving forex market.
2. Regulatory and Compliance Information
ASR operates under the scrutiny of various regulatory bodies, although its regulatory status has raised concerns. The broker is listed as having a suspicious regulatory license from the FCA (Financial Conduct Authority) in the United Kingdom, with the license number 550780. However, it is important to note that this license has been deemed expired and ASR has been included in WikiFX's scam brokers list, indicating a high potential risk for investors.
The broker's compliance measures include the following:
- Customer Fund Segregation: ASR claims to adhere to policies that ensure customer funds are kept separate from operational funds, a standard practice in the industry.
- Investor Compensation Fund: Participation in an investor compensation scheme is not clearly indicated, raising concerns about the protection of client funds.
- KYC and AML Compliance: ASR states that it follows Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations to ensure the legitimacy of its operations and to prevent fraud.
Given these factors, potential clients should exercise caution and conduct thorough due diligence before engaging with ASR broker.
3. Trading Products and Services
ASR offers a diverse array of trading products to meet the needs of various traders. The broker provides access to over 50 currency pairs, including major, minor, and exotic pairs, allowing traders to capitalize on currency fluctuations. The broker also offers Contracts for Difference (CFDs) across multiple asset classes:
- Indices: Traders can access global stock indices, providing opportunities to trade on market movements.
- Commodities: ASR provides trading options for commodities such as gold, oil, and agricultural products.
- Stocks: The broker offers CFDs on individual stocks, enabling traders to speculate on company performances.
- Cryptocurrencies: ASR has recently expanded its offerings to include popular cryptocurrencies, catering to the growing demand in this sector.
The frequency of product updates is not explicitly stated, but ASR aims to keep its offerings aligned with market trends. Retail trading services are complemented by institutional client services, which may include tailored solutions for larger entities. However, specific details on white-label solutions or asset management services are not provided.
4. Trading Platforms and Technology
ASR supports trading through MetaTrader 4 (MT4), a widely recognized trading platform known for its user-friendly interface and advanced trading tools. The broker does not appear to offer a proprietary trading platform, focusing instead on leveraging established platforms to provide clients with a reliable trading experience.
In addition to MT4, ASR offers a web-based trading platform that allows traders to access their accounts from any device with internet connectivity. The broker also supports mobile trading applications for both iOS and Android, ensuring that clients can trade on the go.
The execution model employed by ASR remains somewhat ambiguous, with indications of both ECN (Electronic Communication Network) and Market Making practices. The broker's server infrastructure is not explicitly detailed, leaving potential clients to question the robustness of its technology.
ASR provides API access for automated trading, allowing traders to implement algorithmic strategies. However, specific details regarding the technical infrastructure and server locations are not disclosed.
5. Account Types and Trading Conditions
ASR offers several account types to cater to different trading needs:
- Standard Account: The minimum deposit for a standard account is $100, with spreads starting from low levels. Commission structures are not clearly defined, making it essential for traders to clarify these details before opening an account.
- Premium Accounts: For more experienced traders, ASR provides advanced account types, potentially including VIP or professional accounts, although specific terms are not detailed.
- Islamic Accounts: ASR may offer Islamic accounts, which comply with Sharia law, but further information is not provided.
- Demo Account Policy: A demo account is available for traders to practice their strategies without financial risk.
Leverage ratios offered by ASR vary by product, with maximum leverage reaching up to 1:500. The minimum trade size is generally 0.01 lots, allowing for flexibility in trading strategies. Information on overnight fees and additional trading conditions is not readily available, indicating a need for prospective clients to inquire directly with the broker.
6. Fund Management
ASR supports a variety of deposit methods, including:
- Bank Transfers
- Credit Cards
- E-Wallets (specific options not detailed)
The minimum deposit requirements vary by account type, with standard accounts starting at $100. Deposits are typically processed within a reasonable timeframe, although exact processing times are not specified.
Regarding fees, ASR does not clearly outline any charges associated with deposits or withdrawals, creating uncertainty for potential clients. Withdrawal methods include bank transfers and e-wallets, with processing times and restrictions not explicitly stated.
7. Customer Support and Educational Resources
ASR offers multiple support channels for its clients, including:
- Phone Support
- Email Communication
- Live Chat
- Social Media Presence
Customer service is purportedly available 24 hours a day, catering to a global client base. The broker supports multiple languages, although specific languages are not listed.
In terms of educational resources, ASR provides various materials aimed at enhancing trader knowledge, including:
- Webinars
- Tutorials
- E-books
Market analysis services are also available, featuring daily updates, news, and research reports to keep traders informed of market conditions. Additionally, ASR offers trading tools such as calculators and economic calendars to aid in decision-making.
8. Regional Coverage and Restrictions
ASR primarily serves clients in the United Kingdom and surrounding regions, with operational offices concentrated in Utrecht, Netherlands. However, the broker may have restrictions on clients from certain countries, although specific locations are not detailed in the available information.
In summary, while ASR offers a range of services and products, potential clients should approach with caution due to regulatory concerns and the lack of transparency in certain operational aspects. Engaging with an ASR broker requires thorough research and due diligence to ensure a safe trading experience.
ASR Similar Brokers
Latest Reviews
FX3859471925
Hong Kong
Lao song, ASR international foreign exchange agent from September to November 2017, recommended stocks in the stock group to gain our trust, and then lured us to operate foreign exchange on the grounds of poor stock prices.Our bank card information and id information want to open an account for us in the past, after opening a good door, lure us to increase capital to carry on heavy warehouse operation, he shouted sheet in real time in WeChat, let us half warehouse, seven into warehouse operation, basically is anti sheet, harm us burst warehouse.Using fake MT4 software background during the manipulation of the data, the MT4 software all day data fraud, we clearly clinch a deal the list did not clinch a deal of money, was on the spot, we found that the delete our account, after the change of foreign exchange website, the query, foreign exchange isn't legal in China, do you think it is illegal to pay cooperative ASR international with irregularities, now I ask you to supervise the ASR Austin returned to the rest of my $130000 in foreign exchange, query through the third-party payment platform, finally into place for xi 'an lida trading co., LTD.The new website http://www.asrlnfx.com/ http://www.asr-fx.com/ to obtain your help to find out, thank you.
Exposure
2019-02-08
小美
Hong Kong
I have an interview in Guangzhou Zhongying Industrial Investment Co., Ltd. at the end of 2018 via 51job, with the hope of studying financial knowledge. I didn't expect to open an account in the company after being brainwashed by the company's senior employees and directors. They let me trade onASR. The director gave me order recommendations via WeChat. Later, I found something wrong. The company didn't have foreign exchange qualifications. When they caused me to lose more than 600,000 yuan, I turned to the director for negotiation. But he was very hard and threatened me. Asr also cheated up by saying that Cai Zhiwei had opened an account here. For a safe depositing and withdrawing, I hope that you will not be deceived again.
Exposure
2019-03-14
2513694948
Hong Kong
ASR’ adviser Lao Song obtained our trust by recommending stocks in the stock group, and then lured us to invest in forex on the grounds that the stock market is not good. He asked for our bank card information and ID card information to open accounts on our behalf. After that, he incited us to increase the funds to hold heavy positions. He gave order advice in WeChat in real time, letting us trade with 50% or 70% of the positions. And he almost gave reverse advice, which caused forced liquidations. When we traded, the platform used the fake MT4 to manipulate the data in the background. We obviously delivered the profitable orders, but the system showed no such orders. As we found it on the spot, the platform deleted our account, and changed the website. Afterwards, it is confirmed to be illegal at all in China. Dinpay colluded with with ASR, carrying out illegal practice. Now I ask you to urge ASR to return the remaining 130,000 yuan. The money was confirmed to be transferred finally to Xi'an Baolida Trading Co., Ltd through the third-party payment. For. Http://www.asr-fx.com/ ; the original website: http://www.asrlnfx.com/ New website Please help me to investigate clearly, thank you.
Exposure
2019-02-18