AscendantFX Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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International payments are often very expensive and the amount of the processing fee bothers me a lot. Fortunately, I found AscendantFX, their service is fast and good, and I can manage various currencies in one account. Thank you so much, AscendantFX! I expect your continuous and high quality service in the future.
In this review, we delve into Ascendantfx, a broker that has garnered a mix of opinions within the trading community. While some users praise its technology and customer service, others raise concerns regarding its regulatory status and transparency. This review aims to provide a comprehensive overview of Ascendantfx, highlighting both its strengths and weaknesses based on various sources.
Note: It is crucial to recognize that Ascendantfx operates under different entities across various regions, which can impact user experiences and regulatory compliance. This review synthesizes information from multiple sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 7 |
| Trading Setup | 5 |
| Trustworthiness | 4 |
| User Experience | 6 |
How We Rate Brokers: Our ratings are based on a combination of user feedback, expert opinions, and factual data from reliable sources.
Founded in 2011, Ascendantfx is a payment solution provider based in Canada, primarily focusing on foreign exchange and international payments. The broker claims to offer a user-friendly platform with 24/7 access via desktop and mobile applications. Ascendantfx supports various trading platforms, including MT4 and MT5, allowing traders to engage in a diverse range of assets. However, it is noteworthy that Ascendantfx lacks robust regulatory oversight, which raises questions about its trustworthiness.
Regulatory Regions: Ascendantfx operates mainly in Canada and claims to be registered with FINTRAC, but it lacks regulation from more recognized bodies such as the FCA or ASIC. This absence of stringent oversight can be a red flag for potential traders.
Deposit/Withdrawal Currencies: The broker supports multiple currencies for deposits and withdrawals, although specific details on supported cryptocurrencies remain vague.
Minimum Deposit: Ascendantfx does not publicly disclose a minimum deposit requirement, which may be appealing to new traders looking to start with smaller amounts.
Bonuses/Promotions: Information regarding bonuses or promotions is limited, and traders are advised to inquire directly with the broker for any current offers.
Tradeable Asset Classes: Ascendantfx offers a variety of trading instruments, including forex, commodities, and cryptocurrencies. However, the lack of detailed information on spreads and commissions makes it difficult to gauge the overall cost of trading.
Costs (Spreads, Fees, Commissions): Unfortunately, Ascendantfx does not provide clear information regarding spreads or any associated fees on its website. This lack of transparency can be concerning for traders who prioritize cost-effectiveness in their trading strategies.
Leverage: The broker does not specify leverage options on its platform, which could limit trading strategies for more experienced traders.
Allowed Trading Platforms: Ascendantfx supports popular platforms like MT4 and MT5, which are widely used in the trading community for their comprehensive features and user-friendly interfaces.
Restricted Regions: While specific restricted regions are not listed, traders should verify local regulations before opening an account, considering the broker's uncertain regulatory status.
Available Customer Service Languages: Ascendantfx offers customer support primarily in English, with various contact methods available, including email and phone support.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 7 |
| Trading Setup | 5 |
| Trustworthiness | 4 |
| User Experience | 6 |
Account Conditions: Ascendantfx's account conditions are not transparent, with no minimum deposit stated. This vagueness may deter potential clients who prefer clear guidelines.
Tools and Resources: The broker claims to offer various technological tools, including payment tracking powered by SWIFT GPI. However, the effectiveness of these tools in enhancing the trading experience remains unverified.
Customer Service and Support: Users have reported positive experiences with Ascendantfx's customer service, noting responsiveness and helpfulness. This aspect stands out as one of the broker's strengths.
Trading Setup: The trading setup lacks clarity, particularly concerning spreads and fees, which are critical for traders when assessing overall trading costs.
Trustworthiness: The absence of robust regulatory oversight is a significant concern for many users, impacting their trust in Ascendantfx. This factor should be carefully considered by potential traders.
User Experience: Overall user experience appears to be mixed. While some users appreciate the platform's technology, others express concerns regarding transparency and regulatory compliance.
In conclusion, Ascendantfx presents a unique offering in the forex market, but potential users must weigh the benefits against the risks associated with its regulatory status and lack of transparency. As always, we recommend conducting thorough research and considering personal trading needs before committing to any broker.
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