Occasionally, in the world of Forex and CFD brokers, there are those that raise suspicion at first glance. In our Apsocial Finance review, we will delve into one such company. Everything about it suggests that it was created with a sole purpose — to collect and misappropriate traders’ funds. Further details can be found below.
General Info
Nowhere on the broker’s website or in any documents does it mention its registration address or licensing status. Some information about the company’s location can be found on the Contact Us page. Although there is some credibility to it (addresses in the UK and a phone number in Australia), we still checked the information in the UK Companies House.
As expected, there was no record of the company being registered in the UK. Furthermore, the search returned no relevant results. As a precaution, we also unsuccessfully checked the information in the Australian business registry and the ASIC database.
The conclusion is quite simple: Apsocial Finance broker exists solely on the internet and operates without official registration. The virtual platform does not possess a license, not even from an offshore regulator, as having a registered legal entity is a mandatory requirement for obtaining one. Thus, we are dealing with a pseudo-company that provides brokerage services entirely illegally.
We want to warn traders — your interests and rights are not protected by this “broker.” Attempting to recover funds, even by contacting law enforcement agencies, is unlikely to yield results because there is no entity to hold accountable.
There is also no mention on the website of when the company was established. The WHOIS service shows that the apsocialfinance.com domain was registered in January 2022.
However, this does not necessarily mean that the broker started operating at that time and has been in existence for over 2 years. Judging by web archive snapshots, as of early 2024, the domain was still up for sale. It seems that the website only began to function fully after the date of the last update, which was March 28, 2024. This means that the platform’s age at the time of writing the review had not even reached a month. Can we trust a newly created virtual entity? We are confident that we cannot.
Exploring Fees and Charges
Review of commissions, which the broker claims, let’s start with a couple of notable lines in the account types table. It states that Apsocial Finance has no trading commissions (fees for executing trades). At the same time, the platform claims to use STP (Straight Through Processing) technology in order execution.
To put it mildly, somewhere in these lines, there is inaccurate information hidden. STP brokers, as implied by the name, do not process client orders themselves but forward them to liquidity providers for execution. In this case, spreads are irrelevant to them since the order is executed at the prices of the actual counterparty. The broker only earns revenue from commissions.
We can see that Apsocial Finance claims the opposite — zero commission with spreads. This means that the broker does not use STP technology. And how could it work with it if it does not have official registration and, consequently, cannot enter into contracts with any liquidity providers?
Another confirmation of this fact can be found in the prohibition of arbitrage operations in the Terms & Conditions. An STP broker loses nothing on them; it earns double commissions. Well, when using DD (Dealing Desk), allowing arbitrage is disadvantageous. The client’s risks are close to zero, and the profit (read: the company’s losses) can be significant, especially with high leverage. By setting leverage ranging from 1:100 to 1:400, Apsocial Finance broker expected that clients would incur losses, not itself. Hence the need to prohibit arbitrage.
As for the commission for depositing and withdrawing funds, the project creators preferred not to specify it. However, there is nothing strange about this since among the list of available payment methods in the client area, only cryptocurrency transfers are mentioned.
The question is different: is it worth investing your money in trading if the provider is doing everything possible to remain anonymous and hide its operations from financial and tax authorities? We doubt it.
Attention! When sending funds to cryptocurrency wallets, the client loses the ability to request chargebacks. This is another reason to believe that the broker is conducting business unfairly.
How User-Friendly Is the Trading Platform?
On the homepage, Apsocial Finance promises clients access to financial markets with the most popular MetaTrader 4 terminal. However, as soon as you register and open the trading platform, the value of these promises drops to zero.
The thing is, the software offered by the broker has nothing to do with the MetaQuotes product and falls short of it in almost all parameters:
- Traders cannot customize asset lists in the market watch. As a result, selecting the necessary instruments is inconvenient and time-consuming.
- Only 2 options for displaying price charts are provided.
- It is impossible to open multiple quote charts in the main window.
- Switching to the corresponding area is required to set the parameters of buy or sell transactions.
Overall, it cannot be called a client-oriented terminal and convenient for trading. Moreover, the broker has just started its work, and there are few reviews about it yet. Consequently, it is still unclear whether the administration can adjust the flow of quotes. Finally, it is not even clear where Apsocial Finance gets it from — no supplier will work with a platform without official registration.
What Do Clients Say?
Since the broker has just started its work, there are almost no Apsocial Finance reviews online yet. Only in one video on YouTube and in separate posts on the network, authors say that you cannot trust the platform. The reasons mentioned are the same as those we noted in our review: lack of official registration and license, attempts to mislead the client, etc.
However, the broker itself does not hesitate to spend money to create its own positive image. Of course, there are not so many articles praising it on pseudo-expert sites. However, they appear regularly. Therefore, we strongly recommend that traders independently verify information about the platform. Only in this case will they be able to avoid becoming victims of deception.
In our Apsocial Finance review, enough facts are presented to assert that the broker is trying to deceive clients, and trusting them is not advisable. The platform operates without official registration and license, provides unreliable information, and hides its payment details. We strongly recommend refraining from depositing funds here, especially since substantial amounts are required to start.
Strengths and Weaknesses
- Trading conditions are described in sufficient detail.
- Extremely simple and fast registration process.
- The platform operates without a legal entity registration.
- The broker has no license, not even offshore, and therefore has no right to provide services.
- The project has been in existence for no more than 1 month.
- There is a lot of unreliable information in the website content and documents.
- Only cryptocurrency transfers are used for financial operations.
1 Review about Apsocial Finance
People, learn from others' mistakes. In just 2 weeks of dealing with them, I lost about $50,000. It all starts with a call from these scammers, telling you how wonderful it is to trade with them. Eventually, they will persuade you to make a minimum deposit, which is $10000. After that, you will see that the terminal is not MT4 at all, but it will be too late. You will have to use what is available. Here you will constantly incur losses, and your personal manager will call you and offer their help. And then one fine day, he will tell you about a super-profitable deal, you need to invest more to make a decent profit. Of course, you will believe him and deposit more money into the account. After that, the deal will turn out to be unprofitable, and you will lose almost everything. And after that, they will block your account and stop responding to emails. You can't do anything else! Under no circumstances, register with the scammers from Apsocial Finance, do not deposit funds! You will lose everything!
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