AB Forex Company: what already dead may never die again?
At first sight, it seems that AB Forex Company, a dealing center, has left the market forever. In fact, the broker is still providing services, and traders from the CIS are trying to work with it. Reviews are really alarming. There are much more comments about the forex broker than information about the company itself. However, all the clients have come to a conclusion that it is a fraudulent company. Let us investigate all the details about the firm.
Key information about AB Forex Company
AB Forex Company is an introducing broker of GFT Global Markets UK (GFT UK). According to the information provided by the dealing center, from 2006, the company acted as a representative of one of the Russian firms, and from 2008, it was an IB of the English representative office of GFT Global Markets UK.
Judging by the website, since 2008, there has been no news about the company, its rewards, partners, or achievements on the official website. Notably, new market reviews were published for a bit longer, but in 2014, the broker lost interest in this sector.
Although, the website is dead, AB Forex Company continues providing traders with the following services:
Information for clients
AB Forex Company offers customers to open a demo or live account. It does not provide novice traders with education materials. Clients can receive support in the company’s offices. To open an account, traders should fill out a rather big form with numerous questions about registration, bank account, education, trading experience etc. Trading can be performed via the DealBook 360 trading platform, which is chosen by many professional traders.
Although there is little information about the company, there are a lot of reviews about its services. Most traders openly describe the company’s activity as fraudulent as they cannot withdraw large sums of money. The company’s clients wrote the following reviews: “I failed to withdraw $8,700 trading with AB Forex Company”, “It is the worst broker I have ever worked with. I lost all my deposit within just four days”, “The company is a 100% scammer. It has stolen $33,000 and now, it is not answering my phone calls and emails”, “They do not pay. They only require documents, and then it is impossible to contact them”, “More than one thousand robbed people. This is the real result of the company’s activity”, “AB Forex Company is a number one scammer.”
We tried to find some positive comments, but all in vain. However, we have come across a quite neutral review: “Average spreads, the trading platform works either well or poorly. Orders could be executed in 2 or 20 seconds. Sometimes, the server disconnects. To sum up, you can find a more reliable broker.”
Results of the analysis of AB Forex Company are really alarming. The company stagnated in the information vacuum between 2008-2014. Traders blame the broker for stealing their deposits. However, AB Forex Company does not respond to criticism and does not deny the accusations of fraud in any way. Thus, it is better not to trust such a broker with your money.
The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
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My friend was a trader at AB Forex. She was trying to convince me to open an account with the broker before but I did not have extra money so I was not able to do so. Then, suddenly, she started to warn me and told me not to open an account anymore if I get the chance because she was having trouble taking her funds. The broker did not want to release her profits and even suspended her account just because she tried to withdraw her funds.
One of the representatives from this broker called me. Honestly, I was very convinced that I can have a good future if I invest with the broker. But I did my duty and looked for more information about the company. It turned out that there are many complaints against the broker and there were many inconsistent information. Of course, I did not register anymore.
I opened an account at AB Forex back in 2013. I was never able to make any trades back then because the broker disabled my account right after I made a deposit. It was $1000 and it was gone just like that. I never got any response from the company as well.
When I tried to withdraw $100 from AB Forex, they gave it to me right away. But then on my next withdrawal of profits, they no longer released it. Instead, the broker terminated my account and I never got it back ever again.
Wow, you are lucky for getting back something. In my case, I never really received anything, when I tried to withdraw my profits, the broker closed my account right away and blocked me from their communication channels.
A few years back, I had an account at AB Forex. The beginning was great. I was having smooth trading transactions and the customer service was dependable. However, after requesting for a withdrawal for the first time, my account was suspended. It was never returned to me, even my money.
To be honest, I was expecting a lot from AB Forex because its users had some good things to say about it. But I was disappointed when I already had an account and I was never able to make a decent trade because the platform always crashed.
I experienced trading at AB Forex for a while and it was the worst encounter I had with a broker. My account manager kept forcing me to add more funds when I haven't even touched my initial deposit yet. He also made several trades in my account without my permission.
I can no longer access the website of AB Forex but the company still keeps on sending me emails for their promotional campaigns. Yet, when I try contacting them to ask about my unclaimed funds, they wouldn't answer.
I don't know if AB Forex is really out of business already because I am also still receiving emails. It is alarming that the company is possibly trying to attract more clients and using a different domain.
If you see AB Forex in the market, it is best to just stay away from them. Do not try to even inquire from them because they will not stop pestering you. In my experience, they kept calling me almost everyday just to tell me to invest with them. I clearly refused their offer but they just don't listen. They still kept calling me.
The trading platform of AB Forex is terrible. They keep boasting about it but when you experience using it already, you would only be annoyed. First of all, it is complicated to use. Second, the platform lags all the time. And lastly, it does not execute orders properly.
Back then, I could not understand why the broker does not do anything about their terrible platform when it could result to them losing all their clients. But when I tried to close my account, that is when I realized that the broker never intended to provide brokerage services. They only wanted to collect money from investors.
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