Aspen Holding Review – Broker with Notorious History

Aspen Holding is an unregulated broker who has gained considerable amount of popularity in recent times. It is connected with various auto trading systems which in reality are a hit or a miss.

Moreover, there have been numerous complaints regarding them too. On the other hand, they offer high leverage which tops out at 1:500.

However, it all depends upon your experience when it comes to taking advantage of leverage as it can quickly turn things around, if your forecast is wrong. To know whether this broker is the one for you, read the full review.

Licenses, Regulation and Customer Support

The first step in trading involves making sure that you choose a regulated ECN broker with no conflict of interest. Remember when it comes to unregulated brokerages, the security of your funds will be greatly compromised and the brokers have extreme degree of control over the prices.

While some of the trades might be forced to use the unregulated entities due to restriction in the respective regions, at the end of the day the benefits isn’t justifiable when compared to the risks. Aspen Holding is owned and operated by Next Trade Limited.

Next Trade Limited is listed under the Vanuatu Financial Services Commission. However, they are not under the supervision of any EU regulatory authority. So, technically speaking, they might be targeting the Europeans using the grey areas of the laws.

As far as customer support goes, they do interact with clients via email and telephone. Due to the shortage of feedback, we do not know whether the support staff provides satisfactory service or not.

Interface, Charting Solution and Leverage

On their webpage, Aspen Holding claims to be offering MT4 platforms which are popular among retail investors. However, when we tried to register an account with them, we were led to a web based trading platform.

They might have plans about including MT4 in the near future, but for the time being you won’t be able to take advantage of any of the features which comes along with it. If you use Expert Advisors heavily, then this broker might be a deal breaker for you.

Though, their web based platform contains all the indicators, you won’t be able to add custom ones. So, think about these kind of points before indulging with them.

The leverage they offer is up to 1:500 which is very steep and is not suitable for all investors. If you are an experienced trader, then you already know that leverage can cause serious amount of drawdown if used carelessly.

Educational Material

There is a dedicated section on their website called as trading academy wherein you can find many resources regarding the past movements of the market along with ebooks. The content is even available in video formats as well.

While the access to the materials are reserved for the clients only, it is nice to see that they have given considerable thought to educate the customers. Whenever you are planning to get started with trading in general, always give much importance to your education and don’t forget to backtest a strategy.

After all, being safe is the least we can do when it comes to our own money.

Domain Details

Below are the details of the website and domain used by Aspen Holding. Source – Alexa.com and Whois.com.

Domain – AspenHolding.com

Registered On – 02/04/2012

Expiry – 02/04/2021

Alexa Global Rank – 376,965

Rank in South Africa – 18,384

Aspen Holding Review Conclusion

Aspen Holding clearly exhibits a lot of traits of a shady brokerage. Their description does not match up to their services. They have higher spreads and huge hidden fees which can go upto $200 per month. While there are certain merits in indulging with them, at the end of the day it just might not be worth it.

Given the history of unregulated brokers over the last couple of decades, we strongly recommend our readers to stay away from them and deal with only the regulated counterparts.

Have you used Aspen Holding Broker? Feel free to share your feedback with us by commenting below.