AJB Money Magnet: company reviews, website analysis. What rating does it deserve?

• Categories: CFD-Brokers

Hope for luck with broker choice is unsustainable

There are numerous scammers on financial markets, too many to count. New ones constantly emerge, flying under the radars, successfully deceiving ordinary people. Today’s review is dedicated to the broker AJB Money Magnet, which is a typical “scammer” among others.

Detailed review of AJB Money Magnet company

The official website of AJB Money Magnet is translated into 10+ languages, indicating an attempt to reach a wide range of clients. There is also a Russian version, making the information accessible to domestic traders, whom this broker is also targeting.

The company promises cutting-edge trading tools, over a hundred profitable assets, global presence, and accessibility from any device. However, according to AJB Money Magnet, the peak of success was achieved in 2004, and since then they allegedly hold an FCA license. However, the lack of reviews online says otherwise. Upon detailed analysis of the domain information, it became clear that the site has only been active since August 2021, which invalidates the statistics of 2867 accounts in the last month, 19 million trades, and over 4.7 million dollars in payouts by deception and falsehood.

Although credit should be given to the scammers for masterfully crafting a story, outlining a roadmap, and even mentioning the name of the creator – A.D. Bronevsky, this character is, in fact, fictitious. The AJB Money Magnet site itself is a template cheaply valued by specialized services at only tens of rubles, tarnishing the reputation of a serious company.

Licensing and regulation

According to the provided information, AJB Money Magnet presents itself as a company with British ties, addressed at 137 Perry Road Nottingham Nottinghamshire NG5 1GNN. However, this location hides not our reviewer but a local exchange point called Money Magnet with a similar name. Its website is money-magnet.co.uk.

Thus, the company deliberately misinforms about the actual location of its office. The presented registration number (838536) also turned out to be fake, as confirmed by Companies House data. AJB Money Magnet is a typical unlicensed scam. Discussions on specialized forums indicate that dealing with such a firm only brings profits to scammers, while honest traders are left empty-handed.

Russian investors should remain vigilant as charlatans are also targeting them. Furthermore, their actions clearly violate legislation. AJB Money Magnet does not possess approval from the Bank of Russia, which can be easily verified by looking at the provided screenshot.

Based on existing reviews, it can be concluded that the central regulator will not intervene to minimize financial losses of traders who have independently chosen an illegal firm.

Collaboration terms: review of account types

Before examining the offered account types, attention should be paid to the internal documents of the so-called broker. Among them, you will find a “Disclaimer” where AJB Money Magnet clearly states that they are not responsible for client losses. By registering on their platform, you must be prepared to comply with all their illegal conditions.

The following account types are highlighted:

• “Start”. Initial deposit – $250. Zero withdrawal fees, 24/7 support, leverage up to 1:350 (contradicting FCA rules allowing a maximum of 1:30), analytics, and education available.
• “Medium”. Minimum top-up – $2,500. Features: 24/7 support, trading guidance, leverage up to 1:250.
• “Gold”. To open such an account, $25,000 is required. Offers analytical consultation, leverage up to 1:150, technical support by curators.
• “Platinum”. Deposit amount starting from $50,000. Includes full training from a personal curator, professional strategies, leverage up to 1:100.

Demo accounts are not available on this platform, so you will have to invest money right from the start. Although the minimum losses are $250, the fact of deception indicates that scammers are after much larger sums. Such scam projects rarely last long. Negative reviews mark the beginning of their decline, after which they disappear from the market to reappear under a new name.

Reviews about AJB Money Magnet

As of now, the scammers have not collected enough reviews during their short period of operation. Undoubtedly, the company is striving to expand its client base, confirmed by the search activity of sales managers offering salaries from 30,000 to 100,000 UAH (the vacancy is open in Ukraine).

Deception methods in AJB Money Magnet

Scammers operate according to a standard scheme: they provide an employee to assist with trading. It should be noted that the company does not take responsibility for such actions. Traders are left to face their losses alone as a result of fraud.

Final assessment

One should not expect any shame or conscience from representatives of AJB Money Magnet. They enthusiastically lie about the safety and convenience of trading, the possession of a British license, and the honest fulfillment of obligations. By joining this platform, you risk ending up with an empty wallet.

If you have experience dealing with this fraudulent enterprise, please share your opinion in a review. It is important for our readers to hear the perspective of real clients.