News:

Forum.pl - Founded by a group of enthusiasts to promote financial literacy

Main Menu

Why is AscendingBull a scam?

Started by Admin, Jun 01, 2023, 10:09 AM

Previous topic - Next topic
Topic keywords [SEO] scamAscendingBull

Admin

This article contains the following information:
  • What is known about AscendingBull;
  • Indisputable arguments that AscendingBull is a scam;
  • Less significant indications that AscendingBull is a scam;

What is known about AscendingBull

In brief, practically nothing. The firm appeared in 2022. Exactly which city it is based in is unknown. No positive information has emerged in just over half a year of the firm's existence. There is purely negative information about the firm, but first things first. Our people have decided to try and find information on the Internet about its registered address, but they have not found anything. Every company which respects traders on the contrary tries to be as open and transparent as possible, informing its clients, so that investors could see whom they would give their money to but it is obvious that the owners of AscendingBull do not think so.

Comparing AscendingBull to a normal firm

In this snippet of an article there is the following information:
  • What an adequate brokerage organisation's platform should look like;
  • What about the AscendingBull platform;
  • A comparison of a good brokerage platform with what AscendingBull has;
.

As we can see, the trader not only lost money and nerve cells, but also did not get any positive investment experience, only disappointment in forex. If we look at other reviews, there is generally a similar content. The most common thing they say is about AscendingBull not withdrawing money. People also point out the total incompetence of AscendingBull representatives. Reading reviews on AscendingBull we have also seen data repeatedly about the fact that the firm's employees use blatant manipulation and allow themselves to be insulted when communicating with investors. Opinions on a normal brokerage company should suggest otherwise, or at least things can't be that terrible. In short, the opinions on AscendingBull also clearly indicate that AscendingBull is an outright scam.

Subjective experience with AscendingBull

The facts that have been stated previously are already sufficient to draw the only true conclusion about the true nature of AscendingBull. We made the decision to see for ourselves to be one hundred percent sure.
We registered, the manager of AscendingBull called us and almost immediately started offering to deposit a large amount into our account. The AscendingBull employee started pushing the sales pitch and some ridiculous flattery. We deposited the account for a minimum amount of 25$ and decided to try the signals given by this broker. What happened after that? We lost most of the money in a couple of trades and decided to withdraw the money, but we were not given the money back. An AscendingBull employee called again and tried to convince us to withdraw the money and even to transfer the money to the account once again and to open the trades and according to him if we had done that I would have been reimbursed the loss. At the same time it is unclear for what reason the managers did not want to return the money without additional deposits, without me giving them my personal money once again. It is not hard to understand that if I had done so, the managers would still not have withdrawn the money, not a cent.

The most important fact which confirms that AscendingBull is a scam

Of course we are talking about the lack of regulation. The regulator has a number of tasks including inspections of brokerage offices, specialist checks, checking financials, investors and monitoring the solvency of the broker. But the most important task of the regulator is to prevent financial manipulation. Financial fraud can take many forms, an example being the withdrawal of a trader's money without his permission, or the misuse of a client's money in transactions he has not authorized. Shortly before the 2008-2009 crisis, the biggest financial institutions in the US did this on a massive scale. The client can, for example, recover the money through regulators. The regulators have their own criteria according to which they test the competence of financial management companies, including trading firms. This, in turn, ensures that their investors are dealt with by professionals. AscendingBull has no license, not even a license from some fake office.

What should also be present on the platform of a normal broker? Research tools! A brokerage platform must give investors access to analytical tools and resources. These can include financial news, analyst reports, corporate financial reports, technical analysis tools and more. These resources allow investors to make informed investment decisions and not just do whatever they want. And how can you make normal investment decisions if all AscendingBull has on its platform is a calendar? White brokerages care about their investors' ability to make wise decisions, as it directly affects the overall prospects of cooperation between them.

Reviews of AscendingBull

What do the reviews on AscendingBull say? Almost all about the fraud and total incompetence of AscendingBull's analysts. The ratio of good to bad reviews is, of course, in favour of the critical ones. The good opinions on AscendingBull are not all that simple either. The catch is that they are all some kind of overly formulaic and made recently and essentially at the same time. All this indicates that these positive reviews are bogus. Below is one of these reviews:
"AscendingBull is a great organisation! It has brokerage regulation in place. I earn 250-300% of my total capital per month and I dedicate 10 minutes a day to trading. I recommend AscendingBull to everyone!"
A great firm indeed! The only one that can make an ordinary investor a millionaire for a few years, because the trader will be able to receive 150-200% every four weeks. We believe that it is already clear that this is a fake review.
We took another review on AscendingBull written on Reddit:
"This is the most profitable broker on the market. I don't understand why AscendingBull isn't already number one in the EU and America! The customer service is top notch and the staff at AscendingBull are the most qualified. I've been with the company for three years now and I'm doing great."
And we don't understand why this broker isn't still number one... among scammers either.
Note that those people who have been correcting the reviews don't even know AscendingBull "provides services" themselves for only six months, but certainly not for several years that this person has been doing business with AscendingBull. No facts are given to prove that AscendingBull's analysts are "the most competent".

Next let's move on to a comparison of what AscendingBull has and a normal normal normal firm. What should a good brokerage platform look like? A good brokerage platform is an important tool for investors, giving them the chance to access the financial markets and make reasoned investment decisions. A good platform should have both a cent and a demo account in addition to a basic account.

Consequences of working with AscendingBull

What happens if you or someone else ignores all the facts in this material and decides to try working with AscendingBull? Let's get to the bottom of that. Take a review of AscendingBull from the Reddit forum:
"I am leaving this review to share my painful experience with AscendingBull and to warn potential clients before they even consider entrusting their hard-earned money to this office. In my years of trading experience I have never come across a worse brokerage firm, and it gave me a bitter taste in my mouth and a big drop in confidence in the industry in general.

It was obvious from the start that the level of skill and competence at AscendingBull was clearly almost nil. Their site was consistently unreliable, with regular technical glitches and a user interface that could only be described as clunky and confusing. This alone made transaction execution frustrating, but the trouble did not end there.

Entrusting a personal investment to AscendingBull is a decision you will surely regret, as I do now. I have dealt with the bitter reality that this is the worst thing that could have happened to me as a human being and I am sure that personal experience will serve to forum users who, are considering the decision to give their money to this unfortunate brokerage company."

When it came to the main aspect of accompanying investors, I got very angry. Their staff were either unresponsive or unable to address my concerns with any semblance of seriousness. I thought I was in contact with a chatbot and my requests for help were ignored. In that situation I promptly needed support during a strong price movement, I was stranded and this eventually resulted in me losing a significant amount of money.

A quality investment platform is a must for both mobile and desktop versions. In this fast-paced world, investors should be able to access their brokerage platform on the go. This enables, optionally, to keep track of the rapidly changing situation and to quickly sell or buy an asset if there is a good reason to do so. A quality platform is bound to have an adaptive mobile app, as well as a real computer version, in order to meet any customer aspirations and requirements.

It's also bad enough that it had a tangible impact on me on an emotional level. Not only did I lose a large sum due to the worthlessness of AscendingBull, but the whole incident has left me with an aftertaste of betrayal and a lasting distrust of the field of trading. I can't get rid of the bad memories of the many hours devoted to sorting out the difficulties and compensating for the financial losses caused by the fraudulent nature of this office.

What other signs and evidence is there that AscendingBull are scammers?

As stated above, AscendingBull and its employees are no strangers to aggressive selling, insults, displaying an enviable lack of skill, using marketing tricks like offering very high earnings, and fudging reviews. The legal data on the website of AscendingBull is missing, not even an agreement of public offer, and there should be legal papers confirming the existence of a broker's license, registration papers and probably some awards. The situation is similar in the search engine results as with the reviews, they are all similar to each other. The fact that AscendingBull does not return investments is a standard sign of a scam. AscendingBull managers also like to dump bad signals on which not only you cannot make money, but on the contrary, all money is lost. The criminals often dump such signals to earn more commission, but it is more relevant to representatives of real investment firms that scam in this way. But too frequent technical failures of the AscendingBull platform are also a typical sign of a scam.

A good investor platform should have a user-friendly interface. A well-designed, subliminally understandable user interface is essential for a trading platform. It makes it possible for investors to navigate the platform without difficulty, manage their portfolios and conduct trades with ease. There is nothing like that on AscendingBull. We have seen many different platforms, and it is something familiar to us, but it is difficult to navigate solely on this one, despite the considerable expirience.
A quality investor platform should have a variety of investment options. A comfortable trading platform must give a sufficient range of investment products, including stocks, bonds, ETFs, mutual funds, options, futures and other securities. This allows clients to diversify their accounts and gain access to many categories of currencies. The AscendingBull platform has quite a number of assets, but the catch is that AscendingBull is a scam and trading these assets is not real, it's not all happening in reality, like in a game. Buying silver through the platform AscendingBull you are not really buying anything for the reason that AscendingBull is not regulated and therefore not allowed to work with the world stock exchanges and, accordingly, nothing you actually acquire through a broker on the exchange. Generally, the AscendingBull platform not only has a worthless usability, but it is also quite ugly from an aesthetic point of view.

Another extremely important characteristic of a cool trading platform is its robust security features. Ensuring the security of users' personal information and funds is key. A robust brokerage platform must implement sufficient security methods, such as two-step authentication, encryption and secure socket layer (SSL) techniques. All of these and other things should firmly protect clients from scamming, stealing investments from their account, or hacking into the trading platform itself with a big data leak. None of these things are present on AscendingBull.

Conclusion

You have seen it all yourself. AscendingBull is different even among scams. The company is so awful that there is no place to put a stigma on it. Reviews of AscendingBull that don't resemble fake ones are rife with criticism. People generally talk about the investment not being returned, managers being rude, the site being uncomfortable, almost always glitchy, and only bad memories from working with AscendingBull. If you do not want you to suffer the same fate as the other traders, in no case do not even leave your contact information on the website AscendingBull, or if you have already left them, then urgently blacklist the numbers of managers and do not pay attention to them. If you do discuss anything with the representatives of the office, there is a risk that the scammers, thanks to their talents and experience of trickery, will manage to wrap you around their finger and steal your money. Because they don't just offer you some kind of investment, they can gain the trust of their victims by befriending them, enticing them with the promise of higher profits.