The Nova Scotia Securities Commission (NSSC) in Canada issued a warning against Ashford Investments for “selling” services it cannot actually provide as described on its website. The NSSC, moreover, also claims that Ashford Investments is connected to the Quantum Code scam, which feeds it the names of potential investors without their knowledge.
Britain’s Financial Conduct Authority (FAC) issued a warning as well, stating that Ashford Investments is targeting residents of the United Kingdom and conducting regulated activities without a license to do so.
Founded in 2015, the Ashford Investments online CFD trading site was relaunched in 2017. Its offerings also include forex. Only a UK phone number, +44-20-3868 9102, is listed. Email addresses are firstname.lastname@example.org and email@example.com. The site is operated by Teres BG Limited at Girasole, Suite 6, Office B, Triq In-Narcis, Xewkija, Gozo, Malta. Teres BG Limited is incorporated in Bulgaria. Its address is Business Park of Varna, Building 8, 4th Floor, Region of Vladislav, Varna 9009, Bulgaria.
The site is available in English, Russian, Arabic, and German and versions.
Ashford Investments uses the web-based SpotOption platform, which is quite popular with binary brokers and traders. Some observers, however find it less appealing for forex and other CFD trading because it lacks more specific sophisticated analytics.
To ensure client security, Ashford Investments employs SSL technology and the highest encryption protocols. Communications are guaranteed to be watertight.
Five types of options are available:
- Bronze – with a minimum deposit of $250
- Silver – with a minimum deposit of $2,000, recommended for beginners
- Gold – with a minimum deposit of $10,000
- Platinum – with a minimum deposit of $25,000
- Diamond – with a minimum deposit of $50,000
Each type offers a different level of service. Prospective clients are free to consult with Ashford Investments representatives to determine which is most appropriate for their needs.
All three levels, however, enable binary options, forex and CFD trading, as well as more than 70 assets that include commodities, indices, stocks, and cryptocurrencies. Maximum payouts are said to average around 80%, which is quite competitive in the industry. The website has been criticized for providing relatively few details regarding spread, liquidity, extent of assets, and other critical information.
Silver account holders receive a 50% bonus. Gold account holders receive a 75% bonus, and Platinum and Diamond account holders a 10% bonus. The website, however, contains the following stipulation:
In order to withdraw bonus funds from an account that has been credited with a trading bonus, the trader will be required to execute a minimum trading volume of twenty times the deposit amount and bonus amount combined [(Deposit Amount + Bonus Amount) X 20]. Once this minimum trading volume has been reached, the client will have fulfilled the withdrawal requirements for the bonus terms & conditions and the account will resume under Ashford Investment’s general terms & conditions.
Account funds cannot be withdrawn or transferred until the proceeding stipulation are [sic] completed in full. All trading bonuses are final and cannot be removed once an account has been credited.
In simple terms, therefore, unless traders invest 20 times the amount of the original deposit and the bonus, only Bronze account holders will ever be able to withdraw their funds, since they are the only ones who will not receive bonuses. If you open a Gold account with the minimum deposit of $10,000, for example, you will need to deposit an additional $350,000 to withdraw any funds from the moment you receive your automatic bonus of $7,500.
Ashford Investments only accepts the more traditional methods of payment, which include credit and debit cards and bank transfers.
Ashford Investments provides an in-depth online education center brimming with articles, expert insights, webinars, guides, and much more. E-books, for example, were written to provide the knowledge that every trader needs to become familiar with CFDs.
A series of online courses teach all the basics, from strategies to trend analysis to market predictions, in a simple, organized manner.
Videos teach advanced trading techniques to enable traders to gain experience and sharpen their knowledge and skills.
Some of the materials in the education center are available only after signing a contract. Clients are invited to discuss what they learn with their account managers in order to better integrate their new knowledge in their own trading strategies.
Ashford Investments’ customer support team is available by email, live chat and telephone.
Ashford Investments is not a licensed broker.