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

About 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.

Trading conditions

Although, the website is dead, AB Forex Company continues providing traders with the following services:

• Futures trading ( 94 contracts, the minimum deposit is $2,500);
• Trading with GFT Global Markets UK. Traders may open a Mini Forex account (deposit is from $250 to $2,500, leverage is up to 1:400, margin requirement is 0.25%, minimum trade size is 0.1 lot) or a Standard Forex account (deposit is from $2,500, leverage is up to 1:100, margin requirement is 1%, minimum trade size is 1 lot);
• Forex trading with over 2,000 contracts (minimum deposit is $2,500).

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.

Feedback

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.”

Conclusion

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.