Is Assexmarkets a Scam?

Assex markets claims to be regulated by the FSRA in ST. Lucia but when you viit the FSRA website, they posted some warnings about some scam forex brokers. In the warning they expressly said that "Forex Business is not Licensed in Saint Lucia" so Assex Markets is definitely lying about their ST Lucia regulation

Assex markets seems to be a shady broker, I saw this review left by an unsatisfied customer on Trust Pilot. The customer complained about deposits being made easy but when he tried to withdraw his 9,000 USD his account was blocked and the Assex markets support team stopped responding to his questions. Irt is also weird that Assext Markets team has not respinded to this complain on Trust Pilot for months now.

Although Assemarkets appears to be a registered company in Saint Lucia, it does not mean they are regulated. As the other user said, their name isn't found on the Saint Lucia Financial Market Regulators website. Assexmarkets changed their registration name from Essex Markets in 2024 as seen in the document attached but as I said they are not regulated so apply caution.

https://npc.govt.lc/files/documents/gazettes/2024/11/Gazette%20November%204,%202024.pdf

Assexmarkets does not even have a mobile app on google play store or apple store so access to your trading area is difficult.

This broker is run by a scammer team in nigeria. Any money you deposit with them will be going into their bank accounts.

Avoid them at all cost.

Tread with caution Assexmarkets has the following suspicious features

1. Their website does not seem to open: when you type in the address https://assexmarkets.com/ into your browser, it keeps loading and nothing comes up.

2. However when you go to their Instagram handle you will see same website address but when you hover your mouse above it, the destination address is different.

3. Assexmarkets is not regulated because although they claim to be regulated by the FSRA of Saint Lucia, their name is not on the FSRA list of regulated entities.

No traceable regulation on this broker, and the website has no homepage, it takes you directly to a page to open an account. I would avoid such brokers if I were you!!!

They make withdrawals very difficult and the excuse they give is "Anti Money Laundering Checks" but why didnt they do the checks when customers were opening the account?

I actually opened an account with them but never funded it

I checked on TrustPilot and saw lots of negative reviews about assex markets and when people complained that their accounts were blocked and they couldn't access their funds, I noticed the assex markets customer rep refused to reply to their review. I also noticed the only positive assex markets reviews on TrustPilot were from Nigerian handles meaning assex markets broker operates out of Nigeria. They also have a high minimum deposit if $250 so that once you deposit, you are in for a long bumpy ride.