Askyolo Tech

General Information

Registered in the United Kingdom, Askyolo Tech is a financial service provider offering Forex, Options, and Precious Metals. Askyolo Tech, based in Hong Kong, is a broker that has raised suspicion due to various factors. It is not regulated by any valid regulatory authority, which raises concerns about the lack of oversight and protection for clients. Additionally, there have been multiple complaints filed against Askyolo Tech on WikiFX, suggesting the possibility of a scam or fraudulent activities. The claim of being regulated by the United States National Futures Association (NFA) with license number 0549987 is also suspected to be a clone or fraudulent.

It is important to note that Askyolo Tech lacks a trading software, which further adds to the potential risks involved. The broker offers a mobile app for trading, but it does not provide the widely recognized and popular MetaTrader 4 (MT4) or MetaTrader 5 (MT5) trading platforms. This limitation may restrict traders in terms of advanced trading tools, customization options, and access to a broader range of financial instruments.

Traders should exercise caution and consider the associated risks before engaging with Askyolo Tech. The broker offers a range of market instruments, including currency pairs, options, precious metals, and forex and CFD instruments. However, the lack of regulation, numerous complaints, and limited trading platform options raise concerns about the overall legitimacy and reliability of Askyolo Tech as a broker.

Pros and Cons

Askyolo Tech raises several concerns and potential risks. The broker lacks valid regulation, increasing the likelihood of fraudulent activities. Additionally, numerous complaints have been filed against Askyolo Tech within the past three months, indicating a high potential for scams. The claim of being regulated by the United States National Futures Association (NFA) is suspected to be a clone or fraudulent. Furthermore, Askyolo Tech does not currently have a trading software, further adding to the potential risks involved. These factors should be carefully considered before engaging with this broker.

Is Askyolo Tech safe to trade with？

As of the latest information available, Askyolo Tech does not appear to be regulated by any valid regulatory authority. This lack of regulation poses a risk, and it is advisable to exercise caution when dealing with this broker.

There have been 10 complaints filed against Askyolo Tech on WikiFX in the past three months, indicating potential risks and the possibility of a scam. Additionally, the claim of being regulated by the United States National Futures Association (NFA) with license number 0549987 is suspected to be a clone or fraudulent.

It is important to note that Askyolo Tech does not currently have a trading software, which further adds to the potential risks involved.

Market Instruments

Askyolo Tech advertises that it offers clients opportunity to trade with 130 forex and CFD instruments, including currency pairs, options and precious metals.

CURRENCY PAIRS: Askyolo Tech provides clients with the ability to trade a wide range of currency pairs. This includes major currency pairs such as EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic currency pairs. Currency pairs allow traders to speculate on the exchange rate movements between two different currencies.

OPTIONS: Askyolo Tech also offers options trading as part of its market instruments. Options are financial derivatives that give traders the right, but not the obligation, to buy or sell an underlying asset at a predetermined price within a specific timeframe. Options trading can provide traders with opportunities to profit from price movements in various assets, including stocks, indices, and commodities.

PRECIOUS METALS: Askyolo Tech enables clients to trade precious metals such as gold, silver, platinum, and palladium. Trading precious metals can be appealing to investors as they are often considered as safe-haven assets and can serve as a hedge against inflation or economic uncertainty. Precious metals trading allows investors to speculate on the price movements of these valuable commodities.

FOREX AND CFD INSTRUMENTS: Askyolo Tech offers a range of forex and Contract for Difference (CFD) instruments. Forex trading involves the buying and selling of currencies in the foreign exchange market. CFDs, on the other hand, are derivative products that allow traders to speculate on the price movements of various financial assets without actually owning the underlying asset. Askyolo Tech's forex and CFD instruments may include commodities, indices, stocks, and cryptocurrencies, providing clients with a diverse range of trading opportunities.

How to open an account with Askyolo Tech？

Three straightforward steps for you to open an account with Askyolo Tech:

1. Click the “Register” link on the homepage of Askyolo Tech website, then fill out the application form.

2. Submit your personal documents for this brokers verification.

3. After approval, depositing your trading account and start to trade.

Spreads & Commissions

Askyolo Tech hypes that it offers competitive spreads with no commission charged. However, it does not specify spread on particular instruments.

Trading Platform

Askyolo Tech provides a mobile app for trading, which is available for download on both Google Play and the App Store. However, it is important to note that the broker does not offer the industry leading MetaTrader 4 (MT4) or MetaTrader 5 (MT5) trading platforms.

The mobile app provided by Askyolo Tech serves as the primary means for clients to access the trading services offered by the broker. The app likely includes basic functionalities such as the ability to view account information, monitor market prices, place trades, and manage positions.

While the specific features and capabilities of the mobile app are not detailed, it is important to assess whether the app meets your individual trading needs and preferences. It is advisable to thoroughly research and consider the functionality, user interface, reliability, and security aspects of the mobile app before engaging in any trading activities.

It's worth noting that without the availability of the widely recognized and popular MT4 or MT5 trading platforms, some traders may feel limited in terms of advanced trading tools, customization options, and access to a broader range of financial instruments.

Reviews

Based on the reviews on WikiFX, customers have reported several issues and frustrations with Askyolo Tech. Users have expressed their inability to withdraw funds, with some mentioning that the platform only talks about security deposits without addressing their withdrawal concerns. There are instances where customers have been unable to log in to the platform or where the brokerage company information has changed unexpectedly. Some users have also mentioned that withdrawal requests were not responded to or were delayed, and there have been complaints about being asked to pay taxes or security deposits before being able to withdraw. Overall, these reviews highlight customers' dissatisfaction with their experiences with Askyolo Tech, including difficulties with withdrawals and lack of responsiveness from the company.

Customer Support

Askyolo Tech offers customer support services to assist traders with their inquiries and issues related to their accounts and trading activities. Traders have the option to contact Askyolo Tech through different channels. They can reach the customer support team by phone at +855 93834701 or send an email to services@askyolo.com.

Askyolo Tech's registered office is located at Room 1517, 15F Amiata Industrial Building, 58 Lei Muk Road, Kwai Chung. These contact details provide traders with the means to get in touch with the company's customer support team.

Telephone: +855 93834701

Email: services@askyolo.com

Registered Office: Room 1517,15F Amiata Industrial Building,58 Lei Muk Road,Kwai Chung .

Restricted Regions

Askyolo Tech has specific restrictions in place regarding the regions from which it accepts traders. It should be noted that individuals from the United States, Canada, the United Kingdom, Germany, Italy, and France are not able to trade with Askyolo Tech.

These restricted regions likely have their own regulations and requirements for financial services providers, and Askyolo Tech may not be compliant with these jurisdictions. Therefore, residents or citizens of these countries should seek alternative options for their trading activities.

Conclusion

In conclusion, Askyolo Tech raises several concerns and potential risks. The broker lacks valid regulation from any recognized regulatory authority, which should be a cause for caution when considering their services. Additionally, there have been numerous complaints filed against Askyolo Tech on WikiFX, indicating possible scam activity. The claim of being regulated by the United States National Futures Association (NFA) with a license number is suspicious and suspected to be fraudulent. Moreover, the absence of a trading software further adds to the potential risks involved. While Askyolo Tech offers a range of market instruments, including currency pairs, options, precious metals, forex, and CFD instruments, traders should carefully evaluate the associated risks and conduct thorough research before engaging in any trading activities. The limited availability of advanced trading platforms and the restrictions on certain regions further limit the options for potential traders. Lastly, customer reviews highlight issues with fund withdrawals, unresponsiveness, and unexpected changes in company information, reflecting customers' dissatisfaction with their experiences.

Risk Warning

There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.

The information presented in this article is intended solely for reference purposes.

FAQs

Q: Is Askyolo Tech a legitimate broker？

A: Askyolo Tech lacks valid regulation, posing risks and requiring caution.

Q: Why is Askyolo Tech's WikiFX Score low？

A: Numerous complaints and suspicious regulatory claims contribute to the low score.

Q: What market instruments does Askyolo Tech offer？

A: Askyolo Tech offers currency pairs, options, precious metals, and forex/CFD instruments.

Q: What trading platforms are available at Askyolo Tech？

A: Askyolo Tech provides a mobile app but lacks popular platforms like MT4 or MT5.

Q: Are there any trading restrictions with Askyolo Tech？

A: Yes, residents of certain countries, including the US, Canada, UK, Germany, Italy, and France, cannot trade with Askyolo Tech.

Q: How can I contact Askyolo Tech's customer support？

A: Contact customer support via phone (+855 93834701) or email (services@askyolo.com).

Q: What are common customer complaints about Askyolo Tech？

A: Customer complaints include withdrawal issues, login problems, unexpected changes, delayed responses, and requests for additional payments.