RM257,000 Lost to Online Investment Scam After Downloading the "Everwise" App
A Miri man lost RM257,408 after being drawn into an online investment scheme through RedNote and WhatsApp, involving a fake trading app and multiple bank transfers.
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Abstract:When traders look at a new broker, the most important question is always about safety. This is especially true for AssetsFX, a broker whose online presence raises a serious question: Is AssetsFX safe or a scam? The answer isn't immediately obvious, as the broker has a very divided reputation. When you search for user feedback, you find two completely different stories. On the one hand, there are many positive reviews. On the other side, there are very serious claims of financial wrongdoing. This article won't waste your time. Our goal is to look through all the information, from regulatory status to real user AssetsFX complaints, to help you understand the major risks and make a smart decision about your investments.

When traders look at a new broker, the most important question is always about safety. This is especially true for AssetsFX, a broker whose online presence raises a serious question: Is AssetsFX safe or a scam? The answer isn't immediately obvious, as the broker has a very divided reputation. When you search for user feedback, you find two completely different stories. On the one hand, there are many positive reviews. On the other side, there are very serious claims of financial wrongdoing. This article won't waste your time. Our goal is to look through all the information, from regulatory status to real user AssetsFX complaints, to help you understand the major risks and make a smart decision about your investments.
Before looking at personal user reviews, we need to start with the most objective and important information for any financial company: its regulatory status. This is the foundation of a trader's security. For AssetsFX, the initial information shows several major warning signs.
We will use information from WikiFX, a global broker regulatory research platform that gives a combined score and detailed warnings. The key information is:
· Regulatory Status: The broker is listed with no valid regulation. This is the biggest warning sign. Top-level regulators (such as the FCA in the UK or the ASIC in Australia) enforce strict rules about keeping client funds separate and being transparent about operations. Operating without this oversight removes an important layer of protection for traders.
· Official Score: AssetsFX has a very low score of 2.44 out of 10. This score isn't random; it's based on data that looks at things such as license authenticity, business practices, and the number and seriousness of user complaints. A score this low shows high potential risk.
· Specific Warnings: The broker's profile has clear warnings, including “Suspicious Regulatory License” and “High potential risk.” These labels are used when significant problems or concerning patterns are found.
· Location: The company is registered in Mauritius. While it has a license there (GB23201811), Mauritius is widely considered an offshore location with less strict financial oversight and enforcement compared to top-level financial centers.
These facts are not opinions; they are verifiable information that form the foundation of any research process. We strongly recommend you look at the live, detailed regulatory profile for AssetsFX on WikiFX to see this information yourself.
While regulatory information gives a high-level view of risk, the real issue lies in the actual experiences of users. Looking at public complaints shows disturbing patterns that go far beyond typical customer service problems. The claims are specific, serious, and involve significant financial losses.
A common theme among the most serious complaints is the inability to withdraw money. This is the biggest red flag for any financial service.
One user from India reported that their withdrawal request for $200 was rejected without any reason given. They also noted that live customer support was not available to solve the problem.

More concerning, a report from a user identified as a former country manager for AssetsFX in Pakistan makes a widespread claim. He says that the company actively scams clients by stopping withdrawals and then blaming the clients for “abuse trading,” even on accounts where no trades had been made. According to his report, clients would deposit money, only to have their accounts blocked.

Perhaps the most detailed and damaging complaint comes from a user named Roman in Ukraine, who identifies himself as a financial professional with over 15 years of experience. His account gives a step-by-step story of alleged fraud.
Roman deposited $10,000 into his AssetsFX account. When his balance was around $9,700, he tried to withdraw $5,000. The withdrawal was canceled without explanation, and his messages for support were ignored. Shortly after, he claims his account was wiped out by trades he did not make. He says that the broker itself placed unauthorized trades to empty the account.
His analysis of the MT5 server data showed that out of 146 trades, three specific Bitcoin trades were changed after execution to reduce his profits by a total of exactly $10,000. This level of detail, including specific trade numbers, suggests a targeted action rather than a technical problem.
To provide clarity, the main complaints can be summarized as follows:
| Complaint Category | Specific Claim | Reported Financial Impact |
| Withdrawal Problems | Rejection without reason; widespread blocking. | ~$200 and unspecified amounts. |
| Fund Security | Unauthorized trades placed on account to erase balance. | Loss of entire $10,000 deposit. |
| Unethical Practices | Falsely blaming clients for “abuse trading” to block accounts. | Account blocking after deposit. |

These are not vague accusations; they are detailed accounts from users. We encourage a full reading of these exposure reports on the AssetsFX WikiFX page to understand the seriousness of the claims.
To give a complete picture, it's important to acknowledge that AssetsFX has many positive reviews. At the time of this analysis, there are significantly more positive entries than negative ones. Common themes in this feedback include smooth trade execution, a reliable platform, good support, and no problems with withdrawals.
However, a careful analysis shows stark differences between the nature of the positive and negative feedback. This is an important skill for any trader to develop when evaluating a broker.
· Specificity: The negative reviews are highly specific. They mention exact dollar amounts, dates, sequences of events, and even specific trade ID numbers. Roman's $10,000 claim is a prime example of a detailed, evidence-based allegation. In contrast, the positive reviews are overwhelmingly general. Phrases like “it just works,” “quietly reliable,” and “feels good” are common. They lack concrete details about trade sizes, profit amounts, or specific withdrawal experiences.
· Context: The negative reviews are almost always triggered by a critical event: a withdrawal request. The problems seem to appear when users try to take their funds out. The positive reviews, on the other hand, are general statements about the overall experience. A notable pattern is a large cluster of these positive reviews coming from a single region (Bangladesh) and posted within a very narrow timeframe in November 2025. This concentration can be a red flag for review authenticity.
· Stakes: The negative reviews involve significant, often life-changing, financial amounts and detailed allegations of fraud. The positive reviews lack any mention of specific financial outcomes. They focus on usability and feelings rather than the successful and safe handling of substantial capital.
This contrast forces a critical question for any potential user: Which type of feedback carries more weight when your capital is on the line—vague, anonymous praise, or detailed, documented warnings of financial loss?
Like any modern broker, AssetsFX promotes an attractive list of features designed to appeal to a wide range of traders. Acknowledging these offerings is part of a comprehensive review, but they must be viewed through the lens of the overriding reputation risk.
The broker's advertised features include:
· Trading Platforms: Access to the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
· Account Diversity: A wide range of account types, catering to different levels of investment.
· STANDARD Account: Minimum deposit of $10.
· ECN Accounts: Tiered options from $50 up to a ZERO ECN account requiring a $5000 minimum deposit.
· Leverage: High leverage is available, up to 1:1000 on several account types.
· Instruments: A broad selection of tradable assets, including Forex, Commodities, Indices, Cryptocurrencies, and Stocks.
From an expert perspective, these features, while appealing on the surface, are standard in the competitive forex industry. The availability of MT4 or a low minimum deposit is not a differentiator for a broker's trustworthiness. In fact, features such as 1:1000 leverage become exceptionally dangerous when offered by an unregulated entity. High leverage magnifies both gains and losses, and with a broker facing allegations of fund confiscation, it primarily magnifies the trader's risk.
The core message here is clear: Attractive features cannot make up for a lack of regulatory oversight and a documented pattern of serious user complaints about fund safety.
The Final Decision on AssetsFX
Putting together all the evidence leads to a clear and unavoidable conclusion. When answering the question “Is AssetsFX safe or a scam?”, we must weigh the objective data and detailed user experiences heavily.
Here is a summary of the key findings:
· Decision on Regulation: The broker operates without valid regulation from a top-tier financial authority. This is a foundational and non-negotiable risk for any serious investor.
· Decision on Complaints: The allegations made against AssetsFX are not minor grievances. They are specific, detailed, and severe, pointing to systematic problems with withdrawals and potential fund manipulation.
· Decision on Reputation: While positive reviews exist, their general and clustered nature reduces their credibility when compared with the highly specific and financially devastating negative reports. The weight of the detailed negative evidence heavily outweighs the vague praise.
Based on this analysis, engaging with AssetsFX carries an exceptionally high level of risk to your capital. The patterns observed in the most serious user complaints align with behaviors commonly seen in fraudulent or scam operations.
This investigation should serve as a template for how all traders research a potential broker. Your capital protection begins with due diligence. Before depositing funds with any broker, the single most important step you can take is to verify their regulatory status and user reputation on an independent platform. For a complete and updated view of the evidence discussed here, we recommend examining the full AssetsFX profile on WikiFX. This practice should be a non-negotiable part of your trading checklist to protect your investments.
Download the WikiFX App for in-depth broker exposure reports, along with smart trading strategies and tips.

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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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