Is AUSFITS Legit or Scam?
Our thorough investigation reveals red flags throughout AUSFITS’ operation, strongly suggesting it’s a scam broker. This review aims to expose their questionable practices and guide you towards legitimate trading platforms.
Company Overview
Feature | Details |
Company Name | AUSFITS |
Website | |
Founded | May 16, 2023 |
Headquarters | Unclear (Claims Singapore) |
Regulation | Unregulated |
Services or Products
AUSFITS claims to offer:
- Cryptocurrency trading: Trade various cryptocurrencies against Tether (USDT).
- Options trading: Unconfirmed, access denied during the review.
If you have lost money to companies like CyberCapital Ltd, or CoinMama; please report it to us on our report a scam form.
Trading Platform & Leverages
- Platform: Simple browser-based platform and mobile app (Android/iOS).
- Leverage: Information unavailable.
Spreads and Cost of Trading
- Spreads: Information unavailable.
- Trading costs: Unclear, possibly hidden fees.
License and Regulations
Critical Red Flag: AUSFITS operates without any regulatory licenses. This is a major cause for concern, as legitimate brokers must adhere to strict regulations to protect client funds and ensure fair practices.
Legal Warning Against AUSFITS
Trading with an unregulated broker like AUSFITS exposes you to significant risks:
- Lack of consumer protection: You have no legal recourse if they mismanage your funds or refuse withdrawals.
- Potential for fraud: Unregulated platforms are more prone to engaging in fraudulent activities.
- Unreliable services: Unregulated platforms often lack proper infrastructure and security measures, leading to unreliable service and potential loss of funds.
Deposit and Withdrawal Methods
AUSFITS’ deposit and withdrawal methods are unclear. However, considering their lack of transparency, avoid depositing any funds.
AUSFITS Pros and Cons
Pros | Cons |
None Identified | Unregulated |
None Identified | Suspected scam |
None Identified | Limited information |
None Identified | Potentially high fees |
Why Dealing With An Unlicensed Broker Is Risky
Trading with unlicensed brokers like AUSFITS carries numerous risks:
- Loss of funds: They might withhold your funds or disappear with them altogether.
- Market manipulation: They might manipulate prices to benefit them at your expense.
- Unfair trading conditions: They might set unfair spreads and hidden fees.
- Lack of dispute resolution: You have no legal recourse if something goes wrong.
Client Feedback
Negative: Reviews from scamadviser.com and Reddit threads unanimously warn against AUSFITS. Users report experiencing issues and suspecting it’s a scam.
How Can “ReviewsAdvice” Help You If You Get Scammed?
While we cannot guarantee recovered funds, “ReviewsAdvice” offers assistance in several ways:
- Reporting AUSFITS to relevant authorities to warn others and potentially initiate investigations.
- Guiding you through the chargeback process with your bank if you deposited via credit/debit card.
- Assisting with tracing cryptocurrency deposits using specialized software (for advanced cases).
We will provide you recovery service recommendations, which will help you in recovering the lost funds or you can report to us today by the below form.
Get Your Money Back from Scammers.
Final Thought
Do not risk your money with AUSFITS. Their lack of regulation, negative feedback, and suspicious practices strongly suggest it’s a scam. If you encounter similar platforms in the future, remember these key points:
- Always verify a broker’s regulatory status before investing.
- Research and read independent reviews before committing funds.
- Be wary of platforms with limited information and unclear practices.
Choose a regulated and reputable broker to ensure a safe and secure trading experience.
