1. Introduction: What is AFEX Markets?

AFEX Markets (afex-markets.com) presents itself as a high-tech online trading platform offering forex, commodities, indices, and cryptocurrencies. It claims to offer MetaTrader 4, high leverage up to 1:500, and fast withdrawals. It also promotes itself as a UK- or EU-based company under the names “AFEX Markets Group” or “Afex EU,” boasting legitimacy and experience.

However, behind the glossy website and professional branding lies a dark reality. AFEX Markets is an unregulated, unauthorized, and deceptive trading operation designed to scam unsuspecting investors out of their money. The platform has all the classic signs of a scam, including regulatory violations, withdrawal issues, misleading claims, and fake trading systems.

2. Regulatory Violations and Fake Legitimacy

False Regulation Claims

AFEX Markets attempts to present itself as a trustworthy and regulated broker, even suggesting affiliation with the UK’s Financial Conduct Authority (FCA) or other European regulatory bodies. However, the firm has no valid regulatory license from the FCA, CySEC, BaFin, or any other respected financial regulator.

This is a major red flag. Any financial institution or brokerage offering investment services in the UK or EU must be licensed. AFEX Markets ignores these legal requirements while falsely advertising that it is compliant and operating under official oversight.

Clone Firm Tactics

In many cases, fraudulent brokers use what is known as “clone firm” strategies, where they hijack the registration details of legitimate, authorized companies. AFEX Markets follows this tactic by adopting the address, business registration number, or company name of a real financial firm, using this to create a false sense of credibility among victims.

This method is not only deceptive—it is also illegal. Regulatory bodies have issued warnings noting that AFEX Markets is misusing corporate identities and providing investment services without authorization.

3. Broken and Misleading Trading Platform

Empty Promises of MetaTrader 4

The website heavily promotes access to MetaTrader 4 (MT4), a respected and reliable trading platform used by professional brokers globally. However, upon opening an account, users find that MT4 is not offered at all. Instead, users are given access to a poor-quality web-based trading interface that lacks real-time market feeds, order execution, or advanced charting capabilities.

This interface is purely cosmetic—it is not connected to any real markets. Trades entered into this system are manipulated behind the scenes, and pricing can be altered at will. This type of platform is designed not for trading, but for defrauding users by simulating losses or wins to influence their behavior.

Price Manipulation and Slippage

Many users report strange trading behavior such as sudden slippage, manipulated prices, fake account statements, and trade reversals. These are all classic signs of a “rigged” platform designed to make clients lose and deposit more funds under the illusion of recovery.

4. Payment Methods and Withdrawal Issues

Cryptocurrency-Only Payments

A major hallmark of scam brokers is the exclusive use of cryptocurrency for deposits. AFEX Markets only accepts payments in cryptocurrencies like Bitcoin or Ethereum. These payments are typically routed through third-party processors or crypto exchanges, often requiring users to send funds via platforms like Binance or Crypto.com.

Cryptocurrency payments are irreversible. Once sent, there is no mechanism to retrieve the funds, which makes this the perfect method for scammers to receive money without fear of chargebacks, investigations, or tracking.

High Deposit Pressure and Bonus Traps

New users are often pressured into making large deposits immediately after signing up. Fake account managers or “senior traders” reach out with promises of big returns and exclusive trading strategies. Often, they offer deposit bonuses with unrealistic profit guarantees. These bonuses, however, come with hidden terms that make withdrawals nearly impossible.

In many cases, bonuses are used as tools to deny withdrawal requests. For example, the broker may claim the user must achieve an unreachable trading volume before any funds can be withdrawn, even their original deposit.

Withdrawal Denials and Fee Demands

Once a user tries to withdraw, the platform creates artificial delays. Sometimes, they demand that users pay additional fees—like taxes, compliance charges, or wallet unlocking costs—before processing withdrawals. Even after making these extra payments, users rarely, if ever, receive their funds.

Support responses become vague, disappear altogether, or deflect the issue by redirecting to new “managers” or asking for even more deposits. Eventually, users are blocked or ignored entirely.

5. Unusual Business Practices

Unverifiable Contact Information

AFEX Markets claims to have offices in London or other European financial hubs. However, these addresses either belong to unrelated companies or are virtual office spaces rented by many unrelated entities. Attempts to reach the company through listed phone numbers or email addresses often go unanswered.

This is consistent with scam behavior—providing the illusion of a real-world presence while ensuring there is no way for victims to reach the perpetrators once issues arise.

Lack of Transparency

The website has no verifiable information about the owners, founders, or executive team behind the platform. There are no links to real regulatory documents, licenses, or legal registration numbers. Policies like the Terms & Conditions, Risk Disclosure, and Privacy Policy are either missing or poorly written. This lack of transparency makes it impossible for users to know who they are dealing with.

6. Aggressive Marketing and Fake Promises

Cold Calls and Social Media Ads

Scam brokers like AFEX Markets often use aggressive marketing tactics, such as running fake investment ads on social media or contacting individuals directly through email and phone calls. These ads frequently feature celebrities (without their permission) or promise guaranteed profits with zero risk.

Once a user shows interest or signs up, they’re contacted repeatedly by representatives using high-pressure tactics to deposit funds quickly. These reps often pose as “experts” or “certified financial advisors,” when in fact they are trained sales agents working off a script.

Fabricated Testimonials

AFEX Markets showcases glowing testimonials and fake Trustpilot-style reviews that speak of fast withdrawals, huge profits, and a “professional” experience. These reviews are fabricated or paid for, often written by affiliates or automated bots to deceive new users.

In contrast, real reviews on independent platforms tell a very different story—one of fraud, losses, blocked accounts, and vanishing customer support.

7. Real User Experiences

Consistent Complaints

The majority of real users who interact with AFEX Markets experience the same pattern:

• Initial contact by phone or email.

• Encouraged to deposit a small amount.

• Manipulated into believing trades are profitable.

• Pushed to invest more.

• Attempts to withdraw are blocked or denied.

• Platform stops responding or deletes the account.

These patterns are not isolated. They are consistent across multiple reports and follow the typical structure used by hundreds of known scam platforms.

Psychological Manipulation

Scam brokers like AFEX Markets often rely on psychological tactics to exploit victims emotionally. Users are made to feel guilty or pressured when they hesitate to invest more. They’re shown fake gains and then offered a chance to “recover” losses if they make one more deposit.

This tactic of building urgency and trust, then flipping the script once funds are transferred, is part of the scam’s design.

8. Platform Characteristics Matching Known Scams

AFEX Markets fits the textbook profile of a scam operation:

9. Why Do People Fall for This Scam?

Many victims are intelligent, cautious people who simply fall prey to a highly professional and convincing front. AFEX Markets’ website is well-designed and persuasive. Their representatives speak convincingly and offer insider-style knowledge, often referencing economic trends, charts, and market indicators.

Combined with bonuses, referral programs, and early fake profits, the platform builds false trust quickly. By the time a victim realizes the truth, it’s often too late.

10. Conclusion: AFEX Markets is a Sophisticated Online Scam

AFEX-Markets.com operates with one goal: to defraud retail investors under the guise of online trading. It is unregulated, deceptive, manipulative, and intentionally designed to separate victims from their money with little to no hope of retrieval.

Every element of the platform—from its fake trading tools and crypto-only payments to its bonus schemes, identity cloning, and withdrawal obstruction—is structured to mislead users. The company hides its owners, avoids regulation, and refuses transparency at every turn.

No legitimate financial institution behaves this way.

Report AFEX-Markets.com and Recover Your Funds

If you have lost money to AFEX-Markets.com, it’s important to take action immediately. Report the scam to Jayen-consulting.com,  a trusted platform that assists victims in recovering their stolen funds. The sooner you act, the better your chances of reclaiming your money and holding these fraudsters accountable.

Scam brokers like AFEX-Markets.com continue to target unsuspecting investors. Stay informed, avoid unregulated platforms, and report scams to protect yourself and others from financial fraud.

Stay smart. Stay safe.