(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!!!!!!

They should also have a built-in dispute resolution system to manage larger difficulties. They entice you with promises of wealth and grandeur fit for a king. They boast about how simple it is to make money and how soon you may become a millionaire. They frequently offer their thoughts in relatively basic language that makes sense on the surface. You can also read the documentation to learn about Wordfence’s blocking tools, or visit to learn more about Wordfence. | Cyberpay Network Review | Don’t send any more money to Cyberpay Network before reading this Cyberpay Network Review.
All CySEC-regulated brokers are required to contribute a portion of their profits to a communal pool on a regular basis, which later serves as a guarantee against broker insolvency. If you trade with such a company and it goes bankrupt, your account will be protected for up to EUR 20,000. Vertical Markets additionally provide a type of fund management that is not clearly presented. Whatever the circumstances, a broker who provides this type of service has a high risk of conflict of interest. In these cases, extra caution is advised, especially when dealing with an unregulated company. Like all leading brokers, Fast Finance Uk Limited offers its clients a range of account types to suit the different needs of different types of traders, from beginners to professionals. The available trading platforms are MetaTrader4 , which offers its clients tools to trade CFDs and all major currencies.

Trading Terms

GFX also has an indemnity clause in place through which it claims it will not take any responsibility for any complaints that its customers may make against them for infringement of customer rights. And if the customer does take legal action, then they will have to pay for the legal fees incurred by the broker. However, the MT4 platform offered by GFX is a stand-alone trader and is not linked to this broker. We therefore, checked the SECC’s online register to see if GFX was registered with the financial watchdog. If you are planning to trade with GFX Securities, we would recommend that you do not. This broker has kept itself as anonymous as possible, has no legitimate license to operate, and has outright lied about numerous facts on its website. While this may seem a small matter, many unsuspecting and gullible traders can get impressed by seeing how many awards a broker has won.

In respect of the UK, AKFX Financial Services Limited is deemed authorised and regulated by the UK Financial Conduct Authority. The nature and extent of consumer protections may differ from those for firms based in the UK. Such spreads are highly unprofitable for traders, since it means that trading will be very expensive. GFX requires you to make a minimum deposit of $1,000 to open a basic trading account with them. This is an excessively high amount since the industry standard ranges from $100 to $250. There are even legitimate brokers that ask for minimum deposits as low as $5.

One Market East

This form of scam is more polished and takes more meticulous planning, but the scammer’s potential payoff is also greater. In this situation, they build a full-fledged platform that mimics the features of top Forex brokers. The trader does not compete on the global interbank market but rather with other traders who are only registered on their fake website or perhaps with the platform itself. Naturally, Forex bucket shops establish impossible conditions in order for the site to remain profitable while traders continue to lose money. The problem with unregulated brokers is that they are not trustworthy and violate the rules. Some brokers who are not honest will be aggressive towards customers and encourage them to make certain transactions.
FXCL com Reviews & Complaints
Through our careful review of this broker, we have come to the conclusion that FXCL is probably a scam and should not be trusted. This broker is not regulated under any agency, lacks transparency and provides inconsistent information throughout their entire website. These are all massive red flags that prove FXCL is not a trustworthy company. Foreign scammers take advantage of their understanding of the forex exchange business by preying on their victims with sophisticated language. Risk disclosures and terms of use are frequently used to minimize their obligation if investors incur losses along the road. Although you may be more familiar with their parent firm, BetFred, TradeFred is one of a new wave of online brokerages that have emerged in recent months. Despite the success of its parent company, which is one of Europe’s most well-known sports betting platforms, TradeFred has remained under the radar since its inception in 2016. 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.

Common Signs of Warning in A Forex Scam

This broker has stopped fulfilling its duties to customers and partners, as well as paying payments. During our preliminary research on this broker, we came across a ton of FXCL reviews in which people said that customer service after the initial withdrawal was absolutely poor. While these platforms would be good in the hands of other brokers, FXCL makes unauthorized trades and traders have trouble withdrawing funds from FXCL. These account options may sound tempting, but trading on FXCL is nothing more than a scam. If Tenkofx is attempting to keep your funds, it may try to force you into another transaction when you request a withdrawal. They may even claim that local taxes oblige them to charge a fee for withdrawals. However, accepting large minimum deposits is a frequent practice with fraudsters, whose main purpose is to take as much money from a trader as possible before they notice anything suspicious.

When the Forex market became accessible to everyone and was nearing its peak of popularity, it was impossible to identify a scam broker from a legitimate broker in the interbank market. In this day and age of globalization and informatization, however, generic information can be found on the Internet in a matter of minutes. It is now much easier to protect yourself from the deceptive practices of blacklisted Forex brokers. The most convenient option is to study our website because we have already saved you time by choosing both real brokers and scammers from all companies. Forex is still a popular form of investment, but it can be difficult to recognize scammers online. Check out our guidelines to help you identify trustworthy forex trading platforms and avoid being scammed. 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.

Is there anything that can be done to verify GDQ’s legitimacy one way or the other, instead of assuming the worst and not donating through them at all? I understand donating directly to MSF is an option, but GDQ raises so much awareness that it’d be great if we can validate what they’re doing. Chairty events must give 100 percent of the funds they earn to the charity if they do not they dont. I love speedruns, have multiple internet friends running, but won’t support GDQ as they fail to earn our money.

  • They often do not respond to requests to discontinue contact and will use various persuasive techniques to do everything in their power to persuade you to spend your money.
  • This is possibly the most well-known sort of scam that is utilized everywhere, not just in the foreign exchange industry.
  • If you are using a licensed or registered company; company services, and company approval.
  • There are many cyberforensics companies out there, but none of them offer the same reliability, professionalism and customer service as

Many proprietary platforms of high-quality brokers can provide a great trading experience. Such brokers are only required to provide easy access to trading instruments, but nothing more. The problem with unregulated brokers is that they are untrustworthy and violate the rules. When browsing FXCL, the main problem was that the broker did not provide his physical address in the contact section. A detailed Fast Finance Uk Limited review should disclose complaints against brokers. In our broker review, we discussed trading products such as stocks, commodities, ETFs, foreign exchange, options, CFDs, bonds, indices, and cryptocurrencies. It is similar to the stock market, but instead of buying and selling company stocks, it is buying and selling currencies such as U.S. dollars and Canadian dollars. When you sign a contract with a broker and invest in a transaction, you trust them. Foreign exchange fraud is a catch-all term for any scheme aimed to deceive traders into believing they can make large profits by trading on the forex market.
If you encounter the next one on FXCL, you are likely to be scammed or involved in a scam. Due to lack of information and unregulated FXCL, funds are not safe. With this lack of information and unregulated FXCL, funds are not safe. This is why it is important to learn more about FXCL before opening an account and sending money or submitting any documents. Another missing feature on the FXCL support page is a list of several different FXCL employees, which many other brokers don’t do, especially the scam ones. Traders should trade with well-regulated brokers like UK or Philippines brokers and reputable brokers.

There are Three Sorts of Forex Scam Brokers Who Are Blacklisted

FXCL claims to have three trading accounts available with unusually massive deposits required. The cheapest, supposedly “beginner’s account” requires a deposit of $25,000 – which is a ridiculous amount for a starting account. Be wary of any forex trader who offers spreads of up to seven points. Unsolicited FOREX SCAM and repeated marketing is usually a symptom of deception. If you are being pressured to buy a product or service with little information and time, it could be a fraud. Be especially wary if they start asking for personal information that might be exploited for things like identity theft.

Their claims are faulty because no robot can adapt to and succeed in every environment and market. Professionals typically utilize software only to analyze past performance and discover trends. All software should be formally and independently tested, but be wary of believing the reviews themselves because they can be bought. If their product accomplished exactly what they claimed, they would not be selling it and would instead be utilizing it exclusively. The trading platform provided by the broker should be easy to use and intuitive enough so that traders can quickly access their accounts and trade. The trading platform should be very simple and user-friendly to help users conduct daily transactions. The broker must have a modern trading platform supported by advanced analytical tools and the latest foreign exchange technology. A good broker must not only be regulated, but also have a good reputation, excellent trading conditions, and excellent support. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider.

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. Similar is the case with forex scams, there has been a massive rise in forex scams, and hence many companies have been getting blacklisted for that very reason. Investment scams make large payments, rapid money, or guaranteed profits. Always be wary of investment offers that promise a high return with little or no risk — if it looks too good to be true, it definitely is – and is almost certainly a scam. Even in 2022, naive traders are being duped by shady Forex brokers, but the good news is that this is no longer the norm but rather on the fall. Blacklists of Forex scam brokers are now kept up to date and regularly uploaded by Internet users. Brokers who engage in forex scams are not usually represented by the brokers themselves. They are most frequently individual players who do not have corporations but position themselves as brokers. They have frequently experienced Internet users capable of fabricating misleading information on the site they developed.
Is FXCL com legit?
Debt recovery in internet trade is not easy, but it is also not impossible. No lawyer can guarantee the full amount lost in trading, but a professional firm will do everything feasible with the right instruments to recover as much as possible. Lawyers in the Forex Litigation Department of the Boccadutri law company have successfully supported several customers in recovering their assets. Obviously, FXCL did not do any of the above, and can not even be regarded as a broker, but just a scam in the foreign exchange market. In summary, regardless of the trading conditions provided by FXCL, we do not recommend that you trade with it, because it is not regulated and may be a scam. He can cause huge losses to his customers, so in our opinion, he is a potential liar. Some scam brokers restrict clients to their own platform which may not be a platform at all, but fake.

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