(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!!!!!!

You can easily customize your forex calendar by tracking only the events and indicators that affect your trades. This way you can get an even clearer picture of where your trades are heading. The trades are also executed in a specific way – the so called over-the-counter method is how business is done in this industry. This means that there are no intermediaries, nor is a bourse needed to confirm your trades. It’s just you, the other party and the predetermined set of conditions under which the trade will take place. After that, all you have to do is complete the trade and start looking for a new opportunity.
Broker scams
The Marshall Islands is well-known for its lack of rules and restrictions. Because it has a cheap setup cost and does not control FX trading. As a result, it became an offshore haven for dodgy forex brokers like GoldmanCFD, Osbit, and others. TurboForex, according to its website, is an industry-leading provider of CFD brokerage services for Forex, commodities, and stocks/indices. Naturally, TurboForex has no branches or offices in these countries, and it is not regulated in any of the aforementioned or other nations. A number of unregulated brokers, like Tenkofx, have been accused of defrauding customers. If you have lost money in the Tenkofx scam, you can contact us through a chatbot. Please visit our contact page if you have been contacted by scammers.

Maxi Markets

It is also entirely possible that new forex traders fail to trade with a tested strategy or trading plan. Instead, they make trades based on psychology (e.g., if a trader feels the market has to move in one direction or the other) and there is essentially a 50% chance they will be correct. When researching a potential forex broker, traders must learn to separate fact from fiction. For instance, faced with all sorts of forums posts, articles, and disgruntled comments about a broker, we could assume that all traders fail and never make a profit. The traders that fail to make profits then post content online that blames the broker for their own failed strategies. and its team of financial experts want to give all traders a chance to improve their skills. That’s why we will do our absolute best to introduce you to numerous trading strategies by explaining all their main principles and ideas in a simple manner. Education is also an important part of this website and all types of traders are more than welcome to it.
Forex Scammer List 2022 +521 Fake Forex Brokers ©
He agreed to set the auto robot and then on its result reconsider my decision. On the same day I spoke to account manager Steven Gold the auto robot that he set made 15 trades losing 14 and winning 1, leaving just £4 in my account. The robot executed 8 trades on eight different instruments that closed at 1700hrs and 7 trades on seven different instruments at 1900hrs. Despite numerous requests to have someone resolve this situation I have had little or no contact from them. They claim a deep investigation is taking place but nothing is happening. Their No.1 to 10 positions are for their own people they are trading and earning a lot of commission and end up with blowing the accounts of followers. Here is my link and people with amount following me i have told them also to leave this platform immediately in my social section.

Is the broker offering profits or rewards for opening an account?

So, if someone boasts of massive earnings, guaranteed profits, or precise results, they are operating a fraud. When Lesly checked his account later to see if the payments were still pending, he saw them in red 960€ & 500€ and another €500. It had a green circle around it, ready to go because they’d already taken the first 1.460 and expected they’d get the rest, but he didn’t have any more for them to steal. Lesly went to the police, wrote out a crime sheet all through Spanish lockdown, which was difficult enough, waited over a week, got it back, and was told the bank would give it back. He asked again after weeks of waiting and hearing nothing, only to be told he was not getting it from them. Lesley was forced to borrow money due to his dire circumstances. 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.

  • But there is still a list of fake forex brokers who offer nothing to the traders, and you cannot make a single penny from them.
  • This “review” has no content depth and is not reliable.
  • We’ve compiled a list of brokers with the worst track records.
  • Since this is a global market, you will always be able to find a financial center willing to accept your trades.

So, if you feel any urgency from a broker, it is likely to be one of the scam brokers. So, take as much as education on the forex market, currency behaviors, news reports, etc. By learning the trading, you can surely verify all those bold claims by the brokers we have mentioned earlier. If you see some broker push you to purchase a service or a product within a short period of time and information, it can be a good sign that the broker may turn out as a scammer. So, you have to be careful if such a broker has personal information from you. It is because you may become a victim of identity theft. If you feel anything pushy and uncomfortable, you should do that immediately. Usually, the traders should have access to their funds all the time.

The attributes of Forex scams

Even this can help you to identify fake forex brokers list too. 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. The foreign exchange market is essentially a zero-sum game in which one individual wins and another loses. This is particularly true in the foreign exchange market. There is an abundance of forex frauds online, begun by scammers who get confidence from the anonymity of the Internet. It is critical to distinguish a scam from a real forex trading activity in order to protect yourself from financial devastation. The quantity of results for forex broker scams on the Internet is staggering. While the forex industry is gradually becoming more regulated, there are still many dishonest brokers who should be avoided. When wanting to trade Forex, it’s critical to select brokers who are trustworthy and viable and to avoid those who are not. Trading is difficult enough on its own, but when a broker employs methods that work against the user, profiting becomes practically impossible.

Traders should be careful how they choose a broker as well and just because they are listed in the Google ads, for example, doesn’t mean they are legitimate. While traders may blame brokers for their losses, there are times when brokers really are at fault. The forex market, also known as the foreign exchange market, FX or currency market, is the largest financial market in the world. To put it very simply, you forex scam buy and sell various currencies here in order to achieve profit. Since this is a global market, you will always be able to find a financial center willing to accept your trades. From Sydney to New York, from Tokyo to London, trades are constantly executed on a massive scale. Scammers can trick you with a strong attempt to convince in their genuine financial trading service, yet getting only to hand over money.

Sometimes, they’ll make a run for those stops, causing their clients’ positions to close out. Normal spreads between brokers would be around 2-3 pips but scammers would have spreads around 7-8 pips. If you want to work as a professional trader and manage client money it’s actually pretty easy. Work hard and produce a 12+ month track record with low drawdown and the money will find you. 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. Creating a fake statement is as simple as having access to the MetaTrader servers. When choosing a Crypto or Forex broker, make sure you are using one that is licensed and regulated by your countries financial regulator, choose one here. Margin is the money borrowed from a broker to purchase an investment and is the difference between the total value of the investment and the loan amount. Churning is excessive trading by a broker in a client’s account in order to generate commissions. Churning with derivatives such as put and call options can be even harder to spot, as these instruments can be used to accomplish a variety of objectives.

And I have only 6 days to produced the payment of upgrade level. I lost all my account funds on one trade when a candle moved 120 points. They are the scammer please avoid such type of brokers. I just don’t want to send anymore more money without confirmation they are not a scam. If a broker says that they are regulated, check that out here and make sure that you do not fall into these traps from dishonest brokers. Always try out signals that have no paywall before you consider paying for anything else. The foreign exchange is the conversion of one currency into another currency. The offers that appear in this table are from partnerships from which Investopedia receives compensation.

Top 5 Forex Trading Scams

But, because there is no centralised/regulated exchange, scammers do take advantage of the situation and the inexperienced, beginner traders desire to enter the market. A generic internet search can provide insights into whether negative comments could just be a disgruntled trader or something more serious. A good supplement to this type of search is BrokerCheck from the Financial Industry Regulatory Authority , which indicates whether there are outstanding legal actions against the broker. And if appropriate, gain a clearer understanding of the U.S. regulations for forex brokers.

You can also try to get funds back after a scam transaction. The FTC has some helpful guidelines including getting your bank to reverse the transfer of funds, and asking for refunds. So if someone is boasting of huge gains, guaranteed profits, or specific results, they are peddling a scam. Some are even unregulated, which means that they do not answer to any governing body. So, in the event of a scam, there’s not much hope for legal recourse. In any case, it isn’t a good idea to fully rely on any system to make decisions about your money and investments. As much as we tend to believe that computers are mistake-proof, they aren’t.
Separating Forex Fact From Fiction
There will be more than enough materials for all kinds of traders here, so don’t hesitate to check out what we have to offer. It doesn’t matter if you’re a moderately experienced investor or a seasoned veteran, you will always be able to learn something new with us. For beginners, however, we have something very special. Welcome to your new main source of trading information. On, you will be able to find many interesting articles, not just about brokers, but about this particular industry in general. With us, you will be able to learn everything you need to know about forex trading and make the most important steps towards becoming a great trader. What do these brokers have to offer, which strategy should be used in a particular situation, how to actually start trading and many other important questions will be answered on this website. They promise very high returns and guaranteed profits, either through a managed account where the firm makes trades on the investor’s behalf or by trading using the firm’s trading platform.
With, you will effortlessly master all basic strategies, learn to use various tools and discover which trading style suits you best. Everything you see here is written in very simple language, with no fancy trading expressions just to make us look smart. Simple and clear texts will help you learn faster and absorb more information. Who knows, maybe there’s a brilliant trader hiding somewhere within you. Everybody needs to brush up on their forex trading strategies every once in a while, and this is the perfect place to do that. One must always keep in touch with the latest developments in this business and that includes being familiar with the Best forex strategies.

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