ABSystem Broker Review
ABSystem has firmly established itself as one of the most infamous internet trading brokerages, having been blacklisted in five EU countries. Company is owned by the notorious Donnybrook Consulting Ltd, which you may recognize from its various scamming companies, including EnergyMarkets, OptiMarket, and OFXB.
Read our review to discover why you should avoid working with this dishonest company.
Broker status: Offshore Broker
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: FMA, BaFin, FSMA, CONSOB, CNMV
Owned by: Donnybrook Consulting Ltd
Headquarters Country: Commonwealth of Dominica
Foundation year: 2021
Supported Platforms: Web trader
Minimum Deposit: $500
Cryptocurrencies: No
Types of Assets: FX, commodities, indices, shares
Maximum Leverage: 1:100
Free Demo Account: No
Accepts US clients: No
ABSystem Regulations and Security
As previously stated, Donnybrook Consulting Ltd., a company based in the Commonwealth of Dominica, owns ABSystem. Of course, there is no mention of rules or the protection of the cash with such a well-known owner.
Unfortunately, despite strong government warnings against this specific company throughout Europe, offshore safe haven refuses to close down this illegal enterprise because of their connections. Because of this, a large number of customers fell for the ABSystem fraud.
Please be aware that you must stay away from this and all other Donnybrook Consulting Ltd brands.
Additionally, we strongly warn against investing in shady brokers like SyscoFinance, Smart Trade Group, and CFDAdvance.
ABSystem Warnings From Financial Regulators
Over the EU, ABSystem has been blacklisted in 5 nations. The German BaFin was the first to issue an official warning since it appears that it primarily targets German-speaking customers.
Furthermore, the FMA of Austria issued a similar warning after this one. Belgian FSMA issued a warning on ABSystem broker anomalies in order to safeguard their citizens. Italian regulator CONSOB was equally tough. Finally, the CNMV in Spain has issued the same warning.
Fund Withdrawal Issues with ABSystem
Like many offshore brokers, ABSystem takes advantage of the fact that it is unregulated to trick clients into making withdrawals. This dishonest company just refuses to return the money using a variety of various justifications, rather than executing withdrawal requests as they ought to.
The broker is using bonuses because he is one of the favorites. The business will accept a bonus on your initial deposit but won’t let you know that you can’t withdraw your money until you hit a rollover that is practically unattainable.
Avert the ABSystem fraud by always reading the terms before accepting bonuses.
Traders About ABSystem Scam
In addition to numerous complaints about withdrawals, traders are having problems with the purported automated trading system. ABSystem uses the name Arbitrage-Bot to promote automated trading and their cutting-edge technology. This robotic system ought to reduce risk and improve the success of your transactions as a result.
Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.
