ANSWER Dear Investor,
Ascends Global Markets is an unreliable and unsafe broker, primarily due to its lack of proper regulatory credentials.
While the platform claims to be one of the best brokers in UAE, our investigation reveals that none of the major UAE regulatory bodies, such as the UAE Securities and Commodities Authority (SCA), the Central Bank of the UAE (CBUAE), or the Dubai Financial Services Authority (DFSA), have any record of Ascends Global Markets.
The only registration we could locate for the platform is with the Saint Lucia International Financial Centre (IFC). However, it is crucial to note that this merely grants the entity International Business Company (IBC) status. The Saint Lucia IFC does not regulate forex trading activities, nor does it issue legitimate brokerage licenses.
Consequently, Ascends Global Markets operates without any valid regulation or licenses, presenting an extremely high risk. We strongly recommend that you avoid any engagement with this platform.
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