(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!!!!!!

Although there are signal sellers who are honest and perform trade functions as intended, it pays to be skeptical. Individuals and companies that market systems—like signal sellers or robot trading—sometimes sell products that are not tested and do not yield profitable results. At other times, the scam broker will have awards with media outlets that are reliable, but the awards are fake. This snip is from 12 Trader, which features fake awards form Bloomberg and The New York Times. If these awards were real, you would be able to click on a link and view them or find them via Google search. The New York Times doesn’t give out a “best signals provider” award. Search for “BROKER NAME review” and then go from there. Beyond, sites such as Forex Peace Army are known for surfacing scam brokers that may be new and don’t have a lot of information available. If you can’t find honest reviews of the broker you are interested in, don’t sign up for an account. For example, look at this text from a review site that promotes scam brokers.

  • So she promised that She will give me my profit immediately.
  • What happens when a trader makes a deposit with a fake broker?
  • For example, a Ponzi money-making scheme was named after Charles Ponzi.

You are betting that something will be worth more or less than it is now in a certain time frame. If your prediction is correct, you will earn the amount that the instrument changed its value. If you are wrong, you will lose the amount the instrument changed in value. There are various reasons why these brokers are on this list. The reasons include but not limited to lack of regulation, failure to fulfill their obligations to traders, difficulty in fund withdrawals, manipulative trading practices, etc.

What does a Typical Forex Scam look like?

Despite a rather modest start, TradeFred has worked hard in the last few years to steadily develop a name for itself, and they now have an ever-growing customer base. Much of this early growth can be attributed to the natural cross-over potential of the BetFred sports betting platform. Be concerned if you attempt to remove funds from your account and are unable to do so. If, when you inquire as to why you are unable to withdraw your funds, the broker offers an ambiguous apology or fails to react to your request, you should be concerned. If you invest through a Forex broker, it is recommended that you always be vigilant by keeping track of your trades and staying aware of any changes to your investments or account.
Forex Scam Buster
A client once told us how the scammer had overheard her saying that she had just inherited a large sum of money and they constantly pressed her to invest all that money. She ended up losing all of the money she gave them as they continuously denied her request to refund her money. The victim’s personal financial situation makes no difference to the Forex Scammers other than their interest in how much money they can get from their victim. This means, sick family members, medical bills, elderly individuals, students. Multiple cases a month come by our desks where individuals are contemplating taking their lives or on the verge of losing their marriages because of the “stupid investment” that they made. These are not unintelligent people, often these are doctors, lawyers and retired professionals with high levels of accomplishment and education. The problem is, that the software doesn’t actually work, and the brokers are usually unregulated scam companies. Many brokers have a clause in their terms and conditions page, which bans the use of automated trading software. Trader Protectionis a funds recovery company that helps investors who lost more than $2,000.

Forex Peace Army

Usually, when a broker initiates a trade, it offsets a somewhat identical position to reduce the risk. Then the broker makes the trade for the second position when the offset position is known. If the offset position is better, the trader’s position should be better too. Alternatively, if the position is worse, the trader will also face the same.

You can expect everything from life, and despite taking precautions, you might end up getting scammed. If by extreme infortune this happens, you need to contact Claim Justice as soon as possible. Claim Justice is a funds recovery company that has been in this market for the last five years and knows how to deal with scammers. Our firm is recommended by most professional traders, and you can even contact us for consultation before registering with a broker. Good to know, that most often the new brokers choose to provide their service under the offshore licenses which brings partition regulation and saves total provisional cost. Yet, offshore regulations and requirements does not bring sharp guarantees and necessary safety measures to the traders, the requirements are rather low and poor. We recommend checking Broker statements about “regulated’ status and verify licenses before you engage in trading. The whole concept of regulation is the client’s protection, which ensures the safe trading environment and investment itself. The regulated brokers have to comply with various rules and criteria set by the recognized international authority with the purpose to provide secure trading and remain licensed. That is why we suggest not to trust any broker initially and check the forex scam list first.

Whether it’s insider trading or another form of market manipulation, trading fraud may take many forms – and it can even have ties to the larger stock markets. As a result, it’s important to stay up to date on what the brokers you’re considering are up to – and to make decisions to avoid those that don’t provide the level of safety and security you demand. To sum up, you can never be sure that the one forex brokerage firm or the one automated trading software you have decided to use is indeed a forex scam. However, you might be able to reduce to forex scam risk considerably by choosing one of the most reputable brokers or legitimate forex robots. After all, there’s still a number of trading systems out there that provide a good forex investment opportunity. Do not believe on every statement the broker’s website may say, specifically about its legal registration or authorization status, as scams hiding themselves behind official data. Most of the information can be faked, while official license data is always open through the regulators websites and accessible at any time, so examine it carefully.
So, if you see any new broker, you can look that out here. Furthermore, if you know any forex trading scams that are not listed here, send the information to us and report forex scams; we will add them up. To act as real, some advanced broker from the list of forex scams may come across to you and explain about low risk or even no risk about trading. However, most of the time, the pitcher will tell you about the low risk instead of no risk. And, it is possible that you will trust them as they give you time explaining about no risk at all. It is a simple technique played by the brokers to gain your trust.

Most Trusted Forex Brokers Comparison

An old forex fraud involves the automated manipulation of bid-ask spreads. A look at their website reveals that they are not governed by any regulatory body. They also collaborate with websites that provide “Automated trading software,” which is another red flag because these websites are renowned for scamming schemes. The bodies of brokers who came and left litter the history of Forex. When vast areas of the market see outlier fluctuations, they frequently fail to hedge.
Global Markets Group FXCL
You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. An important factor to always consider when choosing a broker or a trading system is to be skeptical of promises or promotional material that guarantees a high level of performance. Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Here are the Overall rankings for the 39 online brokers who participated in our 2022 Annual Review, sorted by Overall ranking. 1000Extra is not regulated, has minimal information about the company, and has scam reports across the web. Now let’s look at the bottom of the homepage of City Index, a trusted and regulated broker.

Questions to ask to avoid a forex trading scam

The assessment of a trading system’s parameters and optimization codes must be included in the examination of a forex robot. If any of the parameters or optimization codes are incorrect, the system will create random buy and sell signals. Although tested strategies are available on the market, prospective forex traders should conduct their own study before investing in one of these methods. Fraudsters enjoy selling systems that provide programs at extravagant fees, which are justified by the promise of huge financial returns.

When trading in Forex, promises of large and/or guaranteed profits are a significant red flag. Because returns are contingent on an exceedingly volatile market, these “guarantees” are practically impossible to forecast. FXCL Brokerage is a financial services firm specializing in Forex and CFD trading. The organization provides its services all around the world using a simple but effective trading terminal. FXCL is governed by the International Financial Services Committee of Belize and hence follows tight guidelines. FXCL provides modern trading technology to users, as well as very competitive trading conditions and tight spreads on CFDs and other commodities. FXCL promises its customers a strictly regulated and secure trading environment.

  • The problem is, that the software doesn’t actually work, and the brokers are usually unregulated scam companies.
  • With the relatively new availability of the forex market, people aren’t as familiar with currencies are as they are with stocks and bonds.
  • This is especially true for the brokers that display their ratings only on their website or any third-party source that actually belongs to them.
  • What they offer appears almost too wonderful to be true, but it is still within the realm of possibility.

I had to hire a refund solution professional to recover my funds, it was successful. Tony Bruner in 245Markets is one of the worst swindlers in the market. I’m in the same situation right now, I did invested $300 they gave me $160 for some reason. But now they’re asking me to pay $4,820 for the VIP section what not. I have went through several forums and apparently the issue isn’t only happening with me many people were scammed before and people are still getting scammed. “I have been through your website , and I haven’t seen the broker I work with listed in the website. In the following lesson, we will teach you about the different types of scams out there, how to prepare yourself, and what you can do in case you encounter a scam.

We have some information about owner of (FXCL) SCAM company and its may be resident of USA: Alex Teplitsky