Aglance.co review – Is it scam or safe?

Aglance.co review – Is it scam or safe?

Aglance.co Key Facts

🔴 Aglance.co is a shady broker having no FX license. Red flag!

🔴 Aglance.co doesn’t disclose important information about themselves. Red flag!

🔴 Aglance.co is a brand new website filled with bold claims. Disturbing sign!

Aglance.co registration, license and regulation

Aglance.co gives pieces of conflicting information about their company. They don’t present the public with legal documents such as Terms and Conditions, Client Agreement, Disclaimer etc. They mention at least three companies on their website, which allegedly run this broker, which is a warning sign itself.  We can only confirm one as existent- A GLANCE GROUP LIMITED. It’s a UK company with a director residing in China, so it has only a nominal presence in Britain. It holds no British FX license, therefore Aglance.co is an illegal broker operating without authorisation on regulated markets. We highly suspect it’s a scam and urge traders to deposit only with licensed FX providers which abide by the regulations financial authorities enforce.

Each broker presented in US have to be an NFA member and registered with CFTC.

The regulations in USA are quite heavy, compared to other domains. The capital adequacy requirement state Forex brokers have to provide minimum 20 million USD in paid-up capital to get a US license. Also clients’ funds should be kept in segregated accounts, making it impossible for brokers to misuse the capital for daily expenses.

The restrictions on Forex trading in USA includes a maximum allowed ratio of 1:50. Clients are also limited by the FIFO rule (first in, first out), meaning traders have to close their positions consequently. Hedging is also disallowed, which some traders might find restricting.

Aglance.co address and contacts

Aglance.co gives no information about their address and contact numbers. It’s a company impossible to reach because they don’t even provide with e-mail or a contact form. The secretive nature of this so-called broker makes us believe it’s a fraudulent enterprise run by people who want to steal as much as possible from traders and investors.

Aglance.co website information

Aglance.co has a US IP address not associated with other brokers. Aglance.co was created on 16.11.2020, so it’s only two months old. The age isn’t a problem itself, but it’s a worrying sign given the claims they make. The Aglance.co Alexa ranking is non-existent, so it’s yet another reason to refute their claims.

Scam warning

We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority. 

However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.

Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.

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