Protect Assets, Wealth & Money From These Blacklisted Forex Firms | 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!!!!!!

As a result, it is recommended to check the websites of regulatory agencies on a regular basis to ensure that the broker’s legal standing has not altered. I have been investing with this company since February this year. When i began with them they looked so Genuine and would always update me with everything going on with my account. But for the past two weeks they have not been communicating, their website in no longer available, my account has not changed their phone numbers are no longer working. What bothers me is i referred 4 other people to invest there and they too are facing the same problem as i am. How can these be brought to book and on legal grounds how can we pin them down. If anyone can help please it will be greatly appreciated. Yes its very sad to witness all the liers and scammers out there. Be cautious and evaluate before open any account with some random broker. This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

And obviously, the regulatory body will be the first option of your source. Sometimes some forex trading scams take a step ahead to look more real. They use newspaper or magazine advertisements to attract the traders. In this way, they are not calling you or asking you to register with them. Before you fall for such advertisements, you have to conduct an investigation before investing.

Questions a trader can ask to avoid a possible forex trading scam

I had already started trading with before i came across a site that listed them as a scam. Of course, even while trading with trusted licensed brokers some losses are inevitable because Forex is risky. Most retail traders trade with a small capital, so they rely upon gambling and put too many hopes on leverage. Always check if the person/company is licensed and regulated by independent organisations. Doesn’t matter if it is a broker, a trader, an education company, or a money manager. Check if there are any records of their customers’ feedback on the Internet and read them carefully. Trading any direction, any currency, any time of the day just at the mouse click. How to start trading Euro, Japanese Yen, British Pound, US dollar? Just find a trusted broker, open a trading account, download Metatrader 4 and start trading. Unfortunately, as the industry grows, more and more frauds exploit naive beginners.
There are many Forex trading scams which have managed to operate under the radar but others are bold and simply offer their amazing deals in plain sight. While there are many fake “opportunities” operating in multiple countries globally, but there are some that are more common than others. Scammers never register with any regulatory authority which Forex brokers to avoid. You should choose a forex broker that is registered with a regulatory agency. Imagine FOREX SCAM each time a client trades, he has to pay a spread of 7 pips. Once the broker has a few million dollars in funds, empty the accounts, transfer the money to an anonymous tax haven and shut the doors. The spread is the biggest impediment to you making money as a trader. The wider it is, the less likely you are to succeed over the long term, and the people offering the program know this. Don’t get suckered into rushing into an EA or managed account.

How to avoid Forex scams

Like I said, I’ve never seen it happen, but China’s another beast and almost completely unregulated. To me, this is the sale of a product that doesn’t deliver on its promise. Like buying a carton of milk and finding it’s full of water. Since the forex markets has no centralized regulation nor an exchange, the word scam gets thrown around a lot in forex.

  • However, the main aim of scammers is to get your money or personal details.
  • However, a simple checking the Forex scam list online will help you not to be fooled.
  • Having the carrot of managing capital and living from the performance fees is damn compelling, but under this format, it’s like bringing a wooden spoon to a sword fight.

If you keep educating in Forex trading, read the news daily, and know how to check a broker, you are unlikely to become an easy picking. Any notion that traders can become uber successful in a short period of time. If you’re trading forex outside the US, you’re in luck! Other countries have regulatory agencies as well and protect individuals as well. Thanks to new rules from regulatory agencies such as the Commodities Futures Trading Commission and the National Futures Association, these old scams have been cracked down upon.

Signal sellers are companies or individuals who charge to provide advice on when to buy and sell a particular currency pair. Typically, these signal sellers require that investors pay some sort of recurring fee in exchange for this information. These people often make guarantees of outperforming the market and claim to have trading down to a science. Please stay away from this company as much as possible. I have Been trading with them for 5 years and I can say I lost a lot with them. I still didn’t mind then until they finally closed my account and restricted me from withdrawals after I made a very huge deposit. It was really divesting and heartless losing all my fortune to this company during this pandemic. I couldn’t bear the loss so I had to search for a way to get my money back at least something. I expose this broker as much as I can so I can help other victims or intending victims out there.

This will cause unsuspecting traders to do nothing more than gamble. Although tested systems exist on the market, potential forex traders should do some research before putting money into one of these approaches. One shady practice is when forex brokers offer wide bid-ask spreads on certain currency pairs, making it more difficult to earn profits on trades. It’s fairly easy to find images of profit charts on the Internet. Scammers are astute, and they will only show profits rather than losses over time. In the worst-case scenario, they may even display charts from demo trading accounts that aren’t even representative of genuine trading.

What does a Typical Forex Scam look like?

Normally, this kind of scammer doesn’t show any kind of urgency. The scam brokers use multiple techniques to compete with their forex scams. If one technique fails, they go for the next one, and they continue trying until they get a fruitful one. Following are the most common techniques for forex scams.
Signal sellers
The broker begins to cause issues, and you believe you are losing money. The broker for “One Market East” has turned into a con artist. North-West Financial Broker was established in Sweden in 2005. The company’s major purpose is to provide consumers with a comprehensive set of services for trading on the worldwide currency market Forex, as well as CFDs for metals, indices, and stocks. However, “pending licenses” may exist, or the scenario may change in which a license is suspended, or a broker is investigated.
To answer your query, you can only trade with a broker after consulting with a respected firm such as Claim-Justice. However, there are some brokers with whom you should never, ever work. We’ve compiled a list of brokers with the worst track records. These scammers will usually charge either a daily/weekly or monthly fee for this service. They will usually be backed up with a massive list of testimonials from allegedly legitimate sources in order to gain the trader’s trust but in reality, do nothing to forecast profitable trades.

Prop trading & Educational Programs

Returning from my vacation, I logged into my account to find that the position was still open and my balance is down by almost 60% with all the functions on the platform being disabled. Immediately contacted Oliver Thompson and his answer to me was “the platform is not good and can barely trade Crypto Currencies”. He asked me to open a new account on their “state-of -the-art” platform called . I rejected his request asked him to reimburse my investment and informed him that i will consider BeCFD only when the money is back in my account. Since then Mr. Thompson failed to provide me a straight answer on whether he will send back my money or not. My last email to him was this morning informing him that I will pursue my rights to collect my money. Of course he ignored my email and here is my first act against them. On the same day, a new account manager called me mentioning that his name is Oliver Thompson. It was agreed then with Oliver Thompson that i will consider his recommended strategy after Sept. 10th right after i get back from my vacation.

Instead, you can make a small investment to check them out. Further, you may also make a series of small investments to validate the broker scam activity. It is a computer-manipulated bid-ask spreads offering that favors the broker. It usually occurs by increasing the spread of bid and sell price to 7 to 8 pips, while the regular spread is 2 to 3. Through this tempering, the broker can earn money, and the trader loses. However, this kind of scam is largely available in the Philippines, but some offshore brokers may also run these scams.

One of the most important things to check for in any broker is who and where they are regulated. The Commodities and Futures Trading Commission, for example, regulates brokers in the United States . The Financial Conduct Authority exists in the United Kingdom . Brokers that operate in different jurisdictions will frequently hold multiple certifications from various government authorities. I have joined GrandCaiptal for few days, and I have made over 150%. Now they have cut my profit and simply giving a reason that I traded in a no quote period. Please save your hard-earned money and don’t trade with avafx. Delays in deposit transfer to account which creates panic and you have to hedge at higher levels. Tony Bryner in 245Markets is one of the worst swindlers in the market. I think Forex Hacked program was not really functioning on the VPS.

So she promised that She will give me my profit immediately. She said it is the last payment and my profit will automatically reflect on my bank account. So I paid again, but after paying it, I got email again from their company that I have to pay for the Auto Bot management so that my money will reflect on my bank account. Moana Margaret and their company are doing fraud and scam because they still not send my profit after a lot of payments because they want me to pay $1000 for tax again. The 2 brokers are expert in convincing just to get money from their investors. If you detect just one lie when looking through a broker’s credentials to see if they can be the one for you, just run away.

*Information not comfirmed*

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