Identify a Forex Scam | is a BIG SCAMM WITH FAKE REGISTRATION. (FXCL) Markets Ltd. is compensated by the spread. Leverage may increase gains or losses.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. You should make sure you understand the risks involved, seeking for independent advice if necessary.

Registered by the Financial Services Authority (‘FSA’) number 1637 CTD 2018. FXCL Markets Ltd. registered office: Suite 305, Griffith Corporate Center, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines.

Base information about Forex SCAM company:

Real adress in Philipines and company name is:

Company Name: Outstrive
Address: 3rd Floor 399 Enzo building, Makati, Philippines
Phone: +1 (347) 891-7520

Top managment of stealer who scam money of clients:

Juan Belleza Jr
Team Leader
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
639776459387 / 639155292409

Lea Jean Belleza
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines

James Tulabot
Team Leader

Allen Roel Costales
Sale Manager
522 Tanglaw St. Mandaluyong City Barnagay Plainview

Kristoff Salazar
Sale Team Leader
Unit 1414 Kumagawa Bldg River City Brgy 880 Sta. Ana Manila, Philippines

Xanty Octavo
Sale Manager
8137 Yabut Street Guadalupe Nuevo Makati City , Philippines

Virgilito Dada
Account Manager

Elton Danao
Sale Manager
639175048891 / 639991854086

All of this persons need be condemned and moved in Jail.

!!!!!STOP STEAL Philippines MONEY!!!!!!

There was a warning from Malta Financial Services Authority, or MFSA, alerting traders that Prime Trading is a scam. Despite the claim to offer a guarantee of success, the reality regarding trading is that there is no guarantee that profits will be earned. There are a lot of red flags with this broker, amidst a lot of obvious traits typical with scam brokers that traders need to beware of. I have a standard account with USD currency and a first deposit of $1000. I lost my funds the first month and deposited again $290 with the hope I will managed to make my money back. I made $600 in 2 months profit but they didn’t approved my request to withdraw money and eventually I lost all and closed my account. In the midst of my busy work, I chose this broker to trade and get extra income.

  • There was a warning from Malta Financial Services Authority, or MFSA, alerting traders that Prime Trading is a scam.
  • We’ve also included examples below of actual Forex scams that have operated or are currently operating from these locations.
  • As both a Forex and cryptocurrency investment website, this broker claimed to generate high returns through investment plans which were claimed to be reliable.
  • The Android MetaTrader 4 application enables traders to make the most of multiple advanced trading features which enables them to monitor and trade quickly on the go, simply and securely.
  • Traders had no way of reclaiming their funds even though NoaFX claimed to be under strict regulation from the Financial Markets Authority in New Zealand.

Some traders have claimed that they lost as much as US Dollar 160,000 while trading through Panamoney. Also, Panamoney reserved the right to block a trading account at any given time without prior warning. When traders attempt to withdraw funds, there are numerous issues, and the withdrawals are never processed. There is no way for traders to contact customer support and also, the broker promotes risky trades. Also, the broker claimed to have 10,000 registered traders and that it is consistently trying to expand and improve the quality of its services. The broker offered a transparent environment and claims to support a variety of trading strategies including scalping. Besides, these funds must be made available for withdrawal at any given time by the trader in whose name the account is registered. Most of these brokers, besides, do not allow for deposits or withdrawals made to or from third parties as part of AML, or anti-money laundering processes. My trading experience has been bad with this broker.I don’t recommend it to trade seriously. Its trading platform needs to have more servers because it only has 2-3 and all of them doesn’t work properly.

M4Markets Demo Account

Like with Forex broker fraud, any type of manipulation of the currency market could be more likely to result in financial consequences rather than jail time. JPMorgan Chase & Co. and Citibank each paid multi-million dollar fines to regulators for rigging key foreign exchange benchmarks in 2014. In total, six firms were required to pay $4.3 billion in fines and penaltiesaccording to Bloomberg. IG – 75% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Unlike adjusted futures exchanges in the retail off-exchange there is no central marketplace.

The signals of this broker have been poor quality since I was in attendance. The brokerage has yet to become licensed or regulated by notable regulatory authorities but have acquired membership from the Financial Commission . All in all, STForex appears to be a reliable and reputable online trading brokerage, but are they really and how do you know if they are the right trading brokerage for you? After all, choosing the right trading brokerage is a very important decision. Which is why we have conducted in-depth research into the STForex trading brokerage and displayed the results in our comprehensive review below. Forex scams absolutely love to push their clients to deposit money into a trading account. What Forex scams seem to hate is processing withdrawals for their clients. From hundreds of stories told directly from actual victims, the single most consistent metric across the board was the following. Thousands of our traders have already received real financial freedom and managed to avoid many risks due to the correct choice of the broker.

Signs of a Possible Fraudulent Sales Pitch

As both a Forex and cryptocurrency investment website, this broker claimed to generate high returns through investment plans which were claimed to be reliable. The website promised investors returns of up to 1555% on their profits after merely 25 days. Regulated brokers are under strict supervision, regulation, and authorization from regulatory entities which ensure that trading activities are legitimate, and that client fund security can be guaranteed. A more common scenario, is when there is a lot of web presence about the company. Multiple review sites, some giving positive feedback some giving negative. You can always expect when a company is doing business on a large scale that there will be people satisfied and there will be people who are unsatisfied. The sign to look out for here, is when there are a large amount of negative reviews online, with multiple people singing the same tune. If a company has a scarce web presence and you can’t find any information on them, it is definitely a reason to proceed with caution. Secondly, legitimate brokers will have some kind of information available online other than their own website. They might have review pages or sponsors or web pages that are using them to provide content, one way or another there will be something.

Social and easy to use trading solutions are the heart at Grand Trade is a binary options broker that offers the trade in Forex, Cryptocurrency, and some precious metals which can be traded through a web-based platform. Should traders have a registered live trading account with this broker, they are urged to withdraw their investment as MaxCFD has been involved with numerous fraudulent practices. Panamoney issued a few returns but closed down and was never to be seen or heard from thereafter.

We have worked to gather hundreds of data points about to give you the most comprehensive guide available. Is an unregulated broker that claims to be headquartered in New York. There have been numerous reports and poor reviews surrounding this broker, in addition to red flags that question its legitimacy. Grand Trade advertises an 85% payout percentage on its website, but numerous traders have reported various issues with this broker in addition to having experienced substantial losses. Grand Trade is an unregulated offshore broker under the ownership of Oracle Stone, Ltd. in Belize. There have been numerous poor reviews and reports of traders who have had a variety of issues with this broker. The Philippinesn Securities and Exchange Commission has issued numerous warnings to traders in an attempt to protect them from PorterFinance and other illegitimate brokers. These include the depositing of bonuses in trading accounts without prior permission which results in the freezing of the account or counterfeiting of the account balance. Prime Trading claims that there are more than 135 investment teams located in 30 countries around the world that share their knowledge and experiences so that traders can generate profitable results. Once registered, Cannabis Trader makes use of specific software that automatically places trades on Cannabis Stock CFDs on behalf of the trader which is based on live market signals.
Russel Cline illustrates a principle that applies to all forex, as well as other kinds of investments. Forex trading is a sophisticated and challenging type of investment, and traders can only profit if they are smarter than the rest of the market. Due to the enormous potential for profitability in the global Forex market, the danger is also very present. New Forex brokers are established daily, and in parallel, the Forex market is seeing a rapid growth in scam services. It is important to not be fooled by professional looking websites, but rather to read our reviews of the available Forex services carefully. This raid comes after reports that a 73-year old retired trader lost $270, 000 of his superannuation to the broker. Fransisco Marques claims that he was cold-called last year by ForexCT and was convinced to invest $500. This started him on the path to losing a lot of money to the broker, with the worst transaction being $120, 000 in one night.

You need to check all of the advantages listed so you have a better comprehension of is a trading partner that has forged its way successfully to the broker world. In this review, we have attempted to collate a number of the vital facets of This guide will help you to learn whether is a fantastic match for your investments or not. We have attempted to breakdown all of the qualities and fees for your convenience.
Watch for These Red Flags to Help Identify Foreign Currency Trading Scams
I have complaint through fair trading and FOS, I recommend everyone who suffers from them to take this action. I will also take legal action as well, hope I can get my money back. This shop isn’t a Trading FOREX SCAM outfit but a Sales office that plugs you into a ‘slot-machine version’ of the financial markets. Will take less than 1 minute to process your deposit but 1 week for a withdrawal as standard.

Numerous traders still had funds in their trading accounts when this occurred and these traders can, subsequently, not gain access to these funds as the broker’s website closed down as well. STForex offers low deposit requirements, which is aimed at newer traders who dont want to risk too much capital while learning the ropes of the financial markets. STForex provides their traders with the most popular and sought after trading platform in the world, the Meta Trader 4 trading platform. This platform is loaded with all the tools and features a trader needs to succeed and operates in an intuitive and seamless manner. Review:
In cases where it’s virtually impossible to recover lost funds, we’ll let you know that and how you can avoid falling to a recovery scam. Belize is an industry favorite for criminals to open their trading companies. As one of the most infamous trading shysters in the industry 24Option sets a clear example of the benefits of registering a company there. Their parent company Rodeler Ltd. is based in Cyrpus and regulated by Cysec. We would recommend checking their regulation just to be certain. You can rest assured that you are dealing with a Forex trading scam and it’s time to either take action if you’re already involved, or stay far away if you haven’t yet opened an account. The only reputable regulatory bodies that you can rely on in most cases are the FCA, ASIC, FMA, SEC and CySec . If the company does not have any of these regulations it is most definitely a scam. As sophisticated as it may seem, not being regulated is a definite sign of a Forex trading scam.

  • Their service may be good in the past, but now it is very bad.
  • It also may resonate strongly with those who have been targeted by a trading scam.
  • They have frozen my account and have refused to answer any of my calls or reply appropriately to my email replies.
  • Cashback is returned every Monday at 10.00 am for server time.
  • Numerous traders have also been accused of trading in an unethical manner and have had their accounts blocked.

They have frozen my account and have refused to answer any of my calls or reply appropriately to my email replies. I have taken the Legal route against them, but would really appreciate if you stay away from this company and put your claims against this company on this board. The company has committed a fraud and invites you to trade with them, and then if you loose money they will not cancel any of the trades. But if you make money then will cancel all the trades restrospectively. Lance Jack Ryan and Jimmie Kevin McNicholl were the duo who designed the next deceitful deed. Over 1000 investors were targeted by this specific Ponzi scheme, which are all-too-common on the forex market. If there’s absolutely no free margin left together with the client, will stop your own positions. When the losses in the stopped out position exceeds your account balance, you might encounter a negative account balance. It simplifies this status to its incredible platform and wide selection of tools plus resources so that you can put money into capital markets. Over 14,000+ users registered with them can affirm to their trustworthy nature.

There is a great number of scam brokers who have been blacklisted and their names made public for traders to see, but there are also those who have slipped through the cracks. However, at one point, or another, they will be uncovered as well. There are certain companies that if you’re trading with them, we would advise re-assessing your position . Our hopes are that our articles will save as many people as possible from losing their money to a scam. Our watch list includes companies that we’ve received many negative reports regarding. These are companies that have developed a reputation of misconduct which we recommend not doing business with. In some cases we are able to point individuals in the right direction to figure out how to get their money back.

*Information not comfirmed*

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