Aberlyst Review: Aberlyst.com has Too Many Red Flags

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Aberlyst Review
  • Fund Safety
  • Regulation
0.5

Summary

Aberlyst claims to be regulated by the Dubai Financial Services Authority (DFSA), Cyprus Securities and Investment Commission (CySEC), Australian Securities and Investments Commission (ASIC), and the Financial Conduct Authority (FCA). When we read the customer agreement, however, it mentioned the Republic of Vanuatu.

Just like many other scam brokers, Aberlyst presents itself as a regulated online forex broker. However, upon closer inspection, we learned that this is a typical scammer whose sole mission is to defraud people. To enjoy the trading journey, ensure you trade only with honest and transparent cryptocurrency brokers.

Aberlyst Review, Aberlyst.com Company

One of the reasons for the rise in scammers is the increased accessibility of forex trading due to the internet. While this allows more people to participate, it also provides scammers with a vast pool of potential victims. The relative lack of regulation in the forex market compared to other financial markets further exacerbates the issue. Modern scammers also use sophisticated tactics, like fabricating trading results, to lure victims.

About Aberlyst.com

Ironically, this shady broker has won an award for being the “most honest broker.” They boast about a $4.9 billion daily turnover and over 38,000 active traders. All these are bold claims, and the only thing they have in common is that they are false. This company has been active online since 2019, and their domain is set to expire in 2025.

Founders and Team

Scam forex brokers often conceal the identities of their founders and current team leaders as a deliberate strategy to evade scrutiny and accountability. Revealing the individuals behind the operation would make it easier for regulatory authorities and potential clients to conduct background checks and identify any past fraudulent activities or criminal records.

By hiding their founders and leaders, scam brokers can more easily reinvent themselves after being exposed or shut down. Without identifiable individuals, it is easier for these fraudulent operations to disappear and re-emerge under a different name and website.

Aberlyst Contact Details

To reach the broker, you can send an email, write a message, or visit their offices in Austria. However, they haven’t provided enough details to assist in reaching them. If you encounter a challenge, the broker will not assist you swiftly because there are not enough contact details. Providing few contact details allows scam brokers to manage communication on their terms. 

Email communication for example can be easily ignored or delayed, giving the broker control over which inquiries to respond to and when. This enables them to dodge difficult questions, complaints, or demands from disgruntled clients. By not providing a phone number, they also avoid real-time confrontations and the pressure of having to provide immediate answers or solutions.

Regulation

Aberlyst claims to be regulated by the Dubai Financial Services Authority (DFSA), Cyprus Securities and Investment Commission (CySEC), Australian Securities and Investments Commission (ASIC), and the Financial Conduct Authority (FCA). When we read the customer agreement, however, it mentioned the Republic of Vanuatu.

Aberlyst Review, Aberlyst.com Features

This broker is deceptive and has no operating license. We even checked the regulators’ online databases and could not find the broker’s name anywhere. Disturbingly, the Bank of Russia has flagged it for its fraudulent dealings. This broker is inconsistent because they claim to be based in Austria but hold licenses from other jurisdictions, albeit fake ones.

Protecting oneself from these scams requires vigilance and due diligence. Traders should always conduct thorough research before investing with any broker, verifying their credentials and regulatory status. Additionally, traders should be wary of too-good-to-be-true offers and always rely on their own market analysis.

Aberlyst Trading Conditions

The broker requires a minimum deposit of $1,000. However, for ten dollars or less, you could open a trading account with a legitimate broker. The $1,000 is too much, especially for beginner traders. The spread is from 0.1 pips, and the leverage is 1:100. This is further evidence that the FCA has not authorized this broker because it exceeds the 1:30 ratio set by the financial watchdog.

Final Verdict

Aberlyst is a scam broker. There are too many red flags to ignore about this company. As a trader, beware of scam brokers who offer welcome and referral bonuses. When you trade with honest and trustworthy crypto brokers, you can trade without any worries.

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