Ascend is a brokerage firm offering online foreign exchange and contract for difference (CFD) trading services, focusing on providing users with CFD trading in forex, precious metals, indices, energy, stocks, and commodities. However, despite Ascend's claim of being regulated by the UK's FCA, it is in fact not overseen by any regulatory body. The broker's official webpage lacks critical information, such as trading software, deposit and withdrawal amounts, etc. Notably, the design of Ascend's official webpage is identical to that of Gaitame Finest's website (https://www.ascendglobal.cc/ and https://www.gaitameflnestitd.com/index2.html), suggesting a possible common origin for these companies. Investors are advised to exercise caution and thoroughly verify relevant information before considering Ascend's services to avoid potential risks.
Corporate Entity Information for Ascend:
Ascend claims to have been registered in London in 2018, but a search of the UK's Companies House does not reveal any registration information or establishment dates related to Ascend. Two UK companies under the name Ascend Group Limited exist in the Companies House records, one being a staffing company and the other a travel agency, neither of which are financial companies. Additionally, Ascend's domain was registered on September 7, 2023, making the domain registration period very short as of February 2024. Investors are advised to be cautious about the claimed registration information and carefully verify the actual corporate identity and legitimacy when considering business with Ascend.
Regulatory Information for Ascend:
The MSB number (31000234126807) provided on its official website is also false and does not correspond to the Ascend entity. Moreover, the information claiming Ascend is regulated by the FCA (Financial Conduct Authority) in the UK has also been proven to be untrue. Overall, Ascend lacks any genuine regulatory information, including an MSB number and FCA oversight, further highlighting its lack of transparency and potential risks. Therefore, investors need to be extremely cautious, carefully verify regulatory information, and make prudent decisions when engaging in business related to Ascend.
Account Opening Process at Ascend:
Ascend offers a relatively easy account opening process where investors simply need to click the registration button on the homepage and fill in the required information to complete account registration. However, the company shows opacity and lacks disclosure of key information. During the account opening process, investors may find a lack of detailed explanations about trading products, fee structures, and account types. Due to this scarcity of information, investors need to carefully consider before making decisions and ensure they have a full understanding of the services and conditions provided by Ascend to avoid potential uncertainties and risks.
Trading Software at Ascend:
Ascend offers its proprietary trading software, however, it is noteworthy that the official website does not provide detailed information about this software. To date, the software's security and reliability have not been definitively confirmed. This lack of detailed information could potentially impact traders' user experience and fund security.
Account Types at Ascend:
Ascend does not provide clear information about account types on its official website. During the trading process, account types are crucial information, as investors usually choose the suitable account for trading based on their capabilities and needs. However, the lack of account type information on Ascend's official website prevents investors from understanding the characteristics and advantages of different account types. This lack of information indicates a low level of transparency regarding account types at Ascend, making investors potentially uncertain when making decisions. To better understand and evaluate Ascend as a trading platform, investors may need to further inquire with the company's customer service or seek information from other sources.
Trading Instruments at Ascend:
Despite Ascend's official website claiming to offer trading in stocks, CFD contracts, crude oil, precious metals, bitcoin, and various other commodities, specifics and conditions are not transparently disclosed. The lack of comprehensive guidance for investors makes it difficult for potential investors to attain detailed information about each trading instrument, including relevant conditions, fee structures, and other important aspects. This opacity in information may cause confusion for investors when making decisions, as a thorough understanding of trading instruments is key to effectively managing risk and formulating appropriate strategies. Investors are advised to further verify specific information about trading instruments when considering trades with Ascend, ensuring a clear understanding of the characteristics and conditions of each product.
Leverage and Commissions at Ascend:
Specific information regarding leverage and commissions is not provided on Ascend's official website. When trading, leverage and commissions are important considerations that affect an investor's trading costs and risk management. However, Ascend's lack of transparency makes it difficult for investors to understand the platform's leverage ratios and commission structures. This opacity in information could impact investors' decision-making processes, as they cannot fully take these key factors into account.
Deposit and Withdrawal Methods at Ascend:
Ascend's official website does not provide relevant information, which introduces a certain level of uncertainty and risk to investors' capital management and trading.
Contact Information for Ascend:
Investors can contact Ascend via email: info@Ascend.cc
Social Media Presence of Ascend:
Ascend's official website does not provide social media channels, lacking further platforms for communication and interaction.
Conclusion:
Ascend demonstrates significant opacity and lack of disclosure in key information aspects. From the account opening process to trading software, account types, trading instruments, deposit and withdrawal methods, to contact methods and social media channels, the information provided on the official website is very limited and lacks detailed details. This opacity could negatively affect investors' decision-making and trust. Moreover, the unconfirmed security and reliability of the trading software, along with the absence of regulatory information, also pose potential risks to investors. Considering these factors, investors are strongly advised to exercise caution when choosing Ascend as their trading platform, while seeking more transparent and trustworthy brokers to ensure the safety and reliability of their investment. It is noteworthy that Ascend is currently listed as "Suspected of Fraud" on Traderknows.
