AitsFX Review (2023)

Is AitsFX a scam or a legit broker?

According to our research, AitsFX is a total scam. The broker is not regulated and has no legal right to provide financial services to public. Moreover, AitsFX has been suspected in fraud, when pretending to be another company with a better reputation.

AitsFX is a Forex and CFDs broker. The company is owned and operated by AITS FX Ltd, registered and licensed by the Financial Services Authority of St. Vincent and the Grenadines.

However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets and more. Read more about St. Vincent and the Grenadines regulation by the link. Also, we should remind that FSA has announced that it does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies, which engage in such activities.

Also, AitsFX provides the contact number with British phone code, which is a sign that the company has been targeting UK residents, when it is clearly not authorized for providing financial services in the UK.

Conclusion

We keep reminding traders that dealing with offshore brokers is quite risky as clients have no protection of their funds and sometimes such entities turned out to be scams. Instead, we recommend choosing among brokers licensed by FCA in the UK or CySEC in Cyprus. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FXTM and XM.com. Also read FXTM Broker Review.

You can also share your trading experience with AitsFX by commenting on this review.

AitsFX website is no longer active.