Agfx Trading Review: Is agfxtrading.com Legit or Scam?

Agfxtrading.com is operated by AGFXTrading Limited in Cyprus. The company is masquarading as a CySEC licensed broker but in the real sense, they don’t have a valid broker’s license. The broker has been around since November 2021, meaning that Agfx Trading is a new broker with no experience in this industry.

As a matter of fact, trading with this broker will result in the loss of your funds. You should start here if you want to venture into profitable trading and not trust Agfx Trading for your Forex brokerage needs.

Agfxtrading Review: trading products and services

Range of markets offered to traders include Forex pairs, Precious metals, Energies, Stocks and Commodities. This is the typical offering of all Forex brokers, meaning that this is nothing special to boast about. Furthermore, Agfxtrading wants to manage your portfolio. The broker’s Concierge Trader Service is exclusive to “premium clients”.

The service is claiming that they’re licensed to manage funds on behalf of investors. We have verified that this licensing status is a hoax.

You can’t trust an unlicensed company with your investments unless you want to lose your money.

For active traders, Agfxtrading offers multiple account types where minimum deposit starts at €250.

The more features and benefits you need from this broker, the more the minimum deposit requirement.

So if you want trading signals, “relationship manager”, one-on-one coaching, cheaper rates and other VIP services, you will need to part with at least €2,500.

Cost of trading with Agfxtrading

Assuming that the issue of licensing was not there, a trader who utilizes the platform of this broker would pay commission and variable floating spreads at the same time.

We don’t understand why this greedy broker is charging fees twice when all legitimate Forex brokers only charge spreads or commission and never the two at once.

Agfx Trading has also included a page on their site where they talk of their spreads. These spreads are quite different from what they have on their account types page.

On one hand, Agfxtrading is stating that major pairs will attract spreads of 3.0 pips while on the other hand, they say that their floating spreads begin at 0.1 pips. So which is which?

Agfxtrading platforms

They offer MT4 and MT5 software in addition to a proprietary trading software called Agfxtrading Trader.

The proprietary software is said to be user-friendly and loved by traders. We wonder which traders are using this broker’s services, seeing that not even a single review can be found on the internet about the broker.

What to do if you have been scammed by the broker

As always, I encourage you not to give up on your lost funds. That is why I have included a form in this review as well as a live chat function.

If you have proof of money sent to the broker and how you got scammed, you should qualify for a chargeback.

You will not pay for consultations but once you qualify for a chargeback, please comply with the instructions you will be given because these professionals work with an extensive network of banking agencies and law enforcement.

The conclusion

We’d like to warn you that a broker like Agfxtrading would be dangerous for your trading because their intention is to steal your money, not to help you make money.

They’re better off than scams like FT Trading because they present to us a professional website. However, we disqualified them when they lied that they’re regulated by Cysec. Just avoid this broker at all cost.