AssetShot promises cutting-edge technology and a safe and secure trading environment with no hidden costs. But you should know that these are just empty promises made by an offshore broker that is not worth your time and money. If you need more proof, do read the present review – we have discussed all shady aspects of AssetShot.
Is AssetShot legit?
No. AssetShot is just another offshore broker offering online trading services without any sort of authorization. Most such entities are known to engage in fraudulent practices, so we would advise you to stick to legit brokers instead. Here is a list of such companies licensed within the UK to start you off.
Well, as you can see on the screenshot above taken from the Footer of AssetShot’s Home page, the broker is owned and operated by Jess Group LLC, a company registered in Saint Vincent and the Grenadines (SVG). The problem with SVG-registered brokers is that they aren’t licensed, nor overseen by any governmental agency. Not even on paper. This leaves them free to conduct business as they see fit – and most of them are known to be running scam schemes. This is why we advise our readers to stay away from AssetShot and the likes of it. There are plenty of legit and reliable brokers to choose from, so why wasting your time and money on potential scammers?
For example, brokers licensed in the UK are considered safe to trade with. The British financial watchdog, the FCA has deemed it necessary for all brokers to cover a minimum capital threshold of over GBP 730 000 before they are issued a license. Once they do that, they also need to keep reporting open and closed trades on a daily basis, so that it is clear that no market manipulation takes place. Furthermore, they are required to keep all clients’ funds in segregated accounts and to provide all their traders with negative balance protection. Not to mention the obligatory participation in the FSCA – the compensation fund of last resort, which ensures clients’ trading accounts up to GBP 85 000 each, in case a broker goes under.
Can I turn a profit with AssetShot?
We don’t think so. Most offshore brokers only aim at pocketing their clients’ deposits, and we have no reasons to believe that AssetShot is any different. Here are some licensed EU brokers, with which you can earn decent profits if you have some trading skills.
There is also the question of the AssetShot’s Bonus policy, which makes withdrawing money almost impossible:
Be warned, that most scam brokers use such clauses in their Terms and Conditions or Withdrawal policies as an excuse to deny withdrawals altogether. This is why trading incentives like bonuses are considered a questionable practice and have been banned in a number of jurisdictions, including the EU, UK and Australia.
What platform does AssetShot use?
The broker provides its clients with a distribution of the highly acclaimed Metatrader4, as well as a browser-based platform. However, the downloadable version available on their website is provided by a third party – Express Mission Ltd. And considering all the issues with AssetShot discussed above, we would better suggest that you pick up a legit broker supporting the MetaTrader4 instead.
What are the spreads at AssetShot?
As advertised on their website, spreads start from 2.8 pips on EUR/USD for Bronze account holders, and this is twice higher than what is deemed average in the industry. Here, you may take a look at the spreads of some top-notch brokers in real-time instead.
What leverage does AssetShot provide?
The broker advertises leverage levels of up to 1:400, which is more than enough for traders of all skill levels and preferences. Nevertheless, we would advise those of you who are looking for high leveraged trading to check out the offers of some legit brokers instead. Also, take note that trading with levels above 1:100 involves significant risk.
What is the minimum deposit at AssetShot?
The minimum deposit is set at $250 Although this isn’t a high initial investment, we advise you against investing any amount whatsoever with AssetShot, and we clearly explained why.
What payment methods does AssetShot use?
In its terms and conditions, the broker mentions credit cards, so we suppose it accepts Visa and MasterCard. This is good news, as both card providers allow chargebacks to those who have fallen victim to a scam.