How To Detect a Forex Trading 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!!!!!!

Still – do your home work and make an educated conclusion. Investors must also refer to the regulatory intensity and reputation of the regulatory authorities. The stricter the regulation, the better the protection of investors’ rights and interests. At present, the mainstream regulatory authorities include NFA of the United States, FCA of the United Kingdom, ASIC of Philippines, FMA of New Zealand, etc. If the platform or its employees claim they can guarantee profits, investors should beware, as this is almost certainly a false promise.
A few are fairly common that you should be aware of if you decide to trade. These factors make the market very volatile and risky to engage in if you don’t know what you’re doing. As simple as this may sound, forex trading is actually quite complex. Many factors play into the value of a currency and, ultimately, exchange rates. Some of these factors include a country’s inflation rate, interest rates, economic and political stability, national debt, and more.

Can I get my money back from a Forex trading scam?

Forex trading is simply the practice of exchanging one currency for another. Currency trading is important for things like international travel, conducting international business, and foreign trade. Unrealistic Numbers– become a millionaire in 1 month or make 2000% return in 3 weeks. Just think about it if you can make 100% return every month would you sell your strategy/method/robot for $99? I would hate to be the one to burst your bubble but look at the numbers below – $100 starting capital, 100% return per month. This would mean that in 1 year you would have approximately half a million.
Accounts types: Risk management
I see a lot of people asking online if forex trading is a scam. As I experienced myself, scams within the Forex market and even elsewhere usually have more than one party to blame. You may not want to hear this, but you are partly to blame if you have ever been the victim of a scam. We shall look at some scams that have happened in the past so that you can see that you are not the only one to fall for them. Then we shall look at some of the warning signs based on those past cases that will help you spot a scam in the future. A freelance writer who has been regularly writing for BrokerXplorer since 2020. With my articles, I wish to provide forex traders with educational topics to learn from. Most of the time the award will say, “Best broker 2015,” and the news outlet won’t be viewable, or it is an unreliable outlet.

Is Forex Trading a Scam?

For example, they will open up an exclusive offer for a limited time. Hence, if you don’t sign up or buy within a certain time, you might not get it. It is because the scammer wants your money as quickly as possible. They remain in a hurry so that you cannot manage any time to think. Typically, scam brokers put the trap on traders in different forex scam ways. So, it is important to know the types of scams and the ways to avoid them. Is a kind of trading scheme the targets the traders to defraud them. The scammers usually convince the forex traders by offering high-profit expectations from the trading market. Fraudulent activity in the currency market became common in early 2008.

So, if you feel any urgency from a broker, it is likely to be one of the scam brokers. So, it is highly essential to know a broker’s or service provider’s location along with the headquarters. Also, check the regulatory status based on their location. You may check the reviews for our site or check the reviews from real users in different forums or social media. 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.

Latest opinions and experiences

The purpose of telling you this information is that it is impossible to tell that who is going to be their next target. But you can do one thing, and that is to take all precautionary measures. You should stay away from the brokers who offer you above-average profits. You should check the license of brokers before providing them with your sensitive information. You should also check the lists of blacklisted brokers so that you know them by name and don’t even open their websites. I have also created a list of fake forex brokers so that you get to know about them. A generic internet search can provide insights into whether negative comments could just be a disgruntled trader or something more serious.

If a credit card was used it may be possible to file a chargeback against the company. It is also possible in instances where the broker is regulated. ECN is an electronic system that matches buy and sell orders in the markets eliminating the need for a third party to facilitate those trades. Many scams in the forex market are no longer as pervasive due to tighter regulations, but some problems still exist. They told I would start with PGK500 then they told me to upgrade my account with PGK1000 after I made the payment using my standard account they told me to make K3000 as COT fee.. I stop send money, but they still call and msg all the time. And is they a way to recovery funds and pay only out of the recovered fund.

*Information not comfirmed*