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ASJ Forex Global, a shady trading platform, which proved to be widely popular on the Asian markets in the past couple of months, announced that it had ceased processing any withdraw requests.
The excuse for the move is a purported investment by JPMorgan Chase and some platform upgrades, but we can hardly believe that, because ASJ Forex Global or ASJ Global Limited if you prefer, which is presumably based in Hong Kong, is simply not regulated by the local Hong Kong Securities and Futures Commission (SFC) or anywhere else for that matter.
And ASJ Global Limited (www.asjfx.co) also claims to be trusted by more than 10 000 000 customers in some 190 countries around the world, but we have no reason to believe that either.
As a matter of fact ASJ Global Limited bears all the hallmarks of a classic Ponzi scheme – a form of investment fraud that pays existing investors with funds collected from newly recruited investors. To achieve this ASJ Global Limited uses multi level marketing techniques, where clients are promised substantial returns if they bring new victims to the scheme, often family members and friends.
On top of that, instead of trading forex ASJ Global Limited provides their clients with fictitious account statements and purported profit reports, but when it comes to processing your withdraw requests all of a sudden things get complicated, as clearly evident by the platform’s latest announcement.
“The withdrawal function will be opened at 09:30 am on July 11, 2022” the announcement on the ASJ Global Limited reads, but again, we remain highly skeptical that the platform will process any withdrawals at all.
Here you can find a detailed review and a number customer comments about ASJ Global Limited.