Ashford Investments Scam Broker

Ashford Investments Complaint – Ashford Investments Review

Bottom Line

Given the fact that Ashford Investments is NOT regulated by any legitimate entity, we can tell you that your money is definitely not safe with them. If you were the victim of an Ashford Investments scam (including forex scams), file a complaint by filling out the form above and we will do our best to get back to you as soon as we can.

Ownership

Unclear. Their corporate address seems to change on a regular basis, which is not an encouraging sign. Ashford Investments is operated by Teres Media Limited, which as of June 2019 is incorporated in the Marshall Islands. Previous locations included Bulgaria and Malta.

Address

The “incorporated address” is Teres Media Limited,Trust Company Complex Ajeltake Road, Ajeltake Island, Majuro Marshall Islands MH 96960. They also list a payment processor, “Masterpay LTD”, located at 60/89 Mir Jalal str., Baku, Azerbaijan.

Telephone

+44-203-868 9102 (UK)

Email

support@ashfordinvestments.com and complaints@ashfordinvestments.com

Legal Status and Scam Warnings

Ashford Investments is an unlicensed and unregulated broker.

Britain’s Financial Conduct Authority (FCA) issued a warning stating that Ashford Investments is targeting residents of the United Kingdom and conducting regulated activities without a license to do so.

The Australian Securities & Investment Commission (ASIC) released a warning in March 2019, stating “ASIC advises this company could be involved in a scam. Do not deal with this business as it is unlicensed in Australia. The business … has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) licence or an Australian Credit licence from ASIC.”

The Nova Scotia Securities Commission (NSSC) in Canada also issued a warning against Ashford Investments for “selling” services it cannot actually provide as described on its website. The NSSC, moreover, also claims that Ashford Investments is connected to the Quantum Code scam, which feeds it the names of potential investors without their knowledge.

Website Languages

English, Arabic, and German

Portfolio

CFDs, including forex, covering more than 70 assets that include commodities, indices, stocks, and cryptocurrencies. Binary options were formerly offered.

Account Types

Five different accounts are available:

• Bronze ($250 minimum deposit)
• Silver ($2,000 minimum deposit)
• Gold ($10,000 minimum deposit)
• Platinum ($25,000 minimum deposit)
• Diamond ($50,000 minimum deposit)

Each offers a different level of service.  Silver account holders receive a 50% bonus, Gold account holders a 75% bonus and Platinum and Diamond account holders a 10% bonus.

Bonuses

Bonuses are granted but they are effectively impossible to withdraw.

The reason is that for every currency unit received as a bonus, the client is required to trade 0.2 lots (equivalent to 20,000 units in volume). That means, that an initial deposit of $1,000, which receives a bonus of $1,000, requires 20 million units in volume to be made before the bonus and profits earned from the bonus can be withdrawn.

The Terms & Conditions page states:

             “In order to withdraw bonus funds from an account that has been credited with a trading bonus, the trader will be required to execute a minimum trading volume of twenty times the deposit amount and bonus amount combined [(Deposit Amount + Bonus Amount) X 20]. Once this minimum trading volume has been reached, the client will have fulfilled the withdrawal requirements for the bonus terms & conditions and the account will resume under Ashford Investment’s general terms & conditions.

             “Account funds cannot be withdrawn or transferred until the proceeding stipulation are [sic] completed in full. All trading bonuses are final and cannot be removed once an account has been credited.”

Support

Email, live chat and telephone.

Security

The company website has SSL certification and security protocols are employed.

Client accounts are held in segregated accounts to ensure that “funds are free from any actions taken against our company in case of any eventuality.”

Fees

Fees are charged at the closing of the position as a fixed percentage of the contract depending on the type of asset chosen:

• • Commodities 0.0041%
  • Currencies 0.00495%
  • Indices 0.007%
  • Stocks 0.021%
  • Cryptocurrency 0.5%

• ETF 0.01%

Methods of Payment

Credit and debit cards and bank transfers

Account Termination

Either party may terminate the relationship by providing seven days’ written notice to the other party.

Refunds and Withdrawals

             “The minimum amount for a credit card withdrawal is 50 account units, unless you have less than this amount in your account balance and it is your last withdrawal. The minimum wire withdrawal amount is 100 account units. Withdrawal procedure takes 24 working hours.”

Education

Ashford Investments provides an in-depth online education center that includes e-books, articles, expert insights, webinars, guides, and other resources. A series of online courses is also available to learn trading techniques in a simple, organized manner.  

Some of the materials in the education center are available only to active clients.