Other Forex Brokers that may scam traders | Fxclearing.com is a BIG SCAMM WITH FAKE REGISTRATION.

https://www.fxclearing.com/ (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 Fxclearing.com 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!!!!!!

Be especially careful of system sellers who offer programs at exorbitant prices justified by a guarantee of phenomenal results. Instead, look for legitimate sellers whose systems have been properly tested to potentially earn income. This scam has quieted down over the last 10 years, but be careful of any offshore retail brokers that are not regulated by the CFTC, NFA, or their nation of origin. These tendencies still exist, and it’s quite easy for firms to pack up and disappear with the money when confronted with actions.
Forex Scam
If their product accomplished exactly what they claimed, they would not be selling it and would instead be utilizing it exclusively. Besides, other countries also have regulatory entities; you just have to find them based on your intended broker. Most importantly, a huge percentage of forex scammers are located in African nations. So, make sure you check the fake forex brokers list South Africa if you come across an unknown broker. So, the Ponzi scheme act to work like that, but they don’t make any investment after getting the investment. Instead, the schemer will make payment to early https://www.fxclearing.com/ investors after taking investment from other investors who invested later. If the schemer gets continuous investors, the system will run like that. But you don’t need to worry about scamming by the Ponzi schemes as we also put them on the list of scam forex brokers. They tout their long experience and trading abilities, plus testimonials from people who vouch for how great a trader and friend the person is, and the vast wealth that this person has earned for them. All the unsuspecting trader has to do is hand over X amount of dollars for the privilege of trade recommendations.

opinions and experiences

If you have already given your money to a Forex trading scam and want to get it back click here to receive a free consultation on how to get your money back. If you received an unauthorized charge on your credit card from a broker, immediately contact your credit card fraud department to dispute the charges. There are two reasons for unauthorized credit card charges. The first one is, it was an honest mistake and the broker processed your payment twice. Profits on trading is taxable in most countries, and you need to speak with your accountant about how much to pay, and when to pay. When your broker is not processing your withdrawal request, here are a few things to keep in mind. If your broker is regulated by IIROC in Canada, go here for the IIROC complaint procedure. When you have a problem with an unlicensed broker, no government agency can help you get your money back.

  • Apart from various market events, there are also many indicators which can help you determine a currency’s trend, with GDP being the most important one.
  • 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.
  • When you request a withdrawal, it is important to email the compliance department, and the customer support email addresses.
  • Because it has a cheap setup cost and does not control FX trading.
  • Don’t get excited by hearing the promise of unrealistic profits.

The VFSC regulates the Forex broker, but this is insufficient to provide financial services or products in the United Kingdom or Europe. Some fraudulent brokers restrict their clients to their own platform, which may or may not exist at all. Hence it can be established that Fxclearing.com is a scam run by an unauthorized authority, and one should not be in business with them. If you are looking to protect your assets from firms such as Fxclearing.com, check out the signals of a fake forex broker below. Following some investigation on several social media platforms , as well as online trading forums, a common pattern arose in which individuals were disappointed with their experience with FXCL. Based on this user feedback, it appears that FXCL is not a reliable broker, and as a result, extreme caution should be exercised before investing through their brokerage platform. There are many brokers out there who use fictitious company names or engage in other fraudulent activities. A little preparatory study can go a long way toward safeguarding you and your assets. Often, it is only a landing page that encourages people to invest and make a lot of money.

If you have been scammed

If you invest through a managed fund, you don’t have control over your money, and you might not be able to track your money. Therefore, the broker might use your fund for their own purpose. However, the true regulated broker allows you to track your fund in the managed account. The spot forex market traded over $6.6 trillion a day as of April 2019, including currency options and futures contracts. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. The list includes blacklisted brokers, but not all of them; therefore, you must follow the advice below to avoid fraudulent brokers. Be wary of any forex trader who offers spreads of up to seven points. Keep in mind that major currency pairs have four-decimal pricing. Nothing in the market, particularly the currency market, is guaranteed. The market is influenced by too many variables that can alter at any time.
These types of scams have reduced over the past few years yet they still pop up. This is why it is very important for traders to choose a Forex broker which is registered with a regulatory agency. Manipulation of bid/ask spreads normally involve having spreads of around 7-8 pips instead of between 2-3 pips which is the norm. Their model is a hothouse of sales tactics where inexperienced traders are suckered into a free seminar, then upsold to a $4k course, then upsold again to a $25k course.

With no experience, how would traders know what they should be looking for? It is this lack of knowledge which encourages scam brokers to entice new traders to open accounts and deposit their funds. While brokers in most countries are required to operate with a trading license, this unfortunately does not apply to every country. This is where you’ll find everything you need to know about a particular broker. Thorough reviews, sound advice and reliable information are the things that await you here. We want to cover as many brokers as humanly possible to show you the variety of possibilities the market has to offer. This way, you will be able to make the best possible choice when selecting your business partner.
Broker scams
Incentives to open an account can often be used against the trader when attempting to withdraw funds. For instance, if a trader deposits $10,000 and gets a $2,000 bonus, and then the trader loses money and attempts to withdraw some remaining funds, the broker may say they cannot withdraw the bonus funds. Reading the fine print will help make sure you understand all contingencies in these types of instances. You should seriously consider seeking financial advice or guidance before investing. FOREX SCAM You should make sure that any firm you deal with is regulated by us and never take investment advice from the company that contacted you, as this may be part of the scam. Do not base your decision to work with someone or purchase a product based on this or any other limited information. Ask for background information and full disclosure of the profits and losses. If they refuse or remain vague, it’s probably a forex scam. It’s very easy to come across pictures of charts showing profits.

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

Its really frustrating and I think we have been duped, it must be a scam. Do not open an account with them, you will never get your money back, they are not FPA approved. There are 3 other people who have been cheated out of there money that I know of. My mother opened an account with them, and put her pension money in about 3 weeks ago. I opened out an account with GlobusCapital Limited 3 months ago. They are based in the UK,Level 3, 207 Regent Street LONDON W1B 3HH UNITED KINGDOM. The first demand of withdrawal made no problems, but the 2nd was unsuccessfull (8000 euro-refused).

  • With no experience, how would traders know what they should be looking for?
  • Naturally, TurboForex has no branches or offices in these countries, and it is not regulated in any of the aforementioned or other nations.
  • 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.
  • Usually, the offerings are not unrealistically huge, so that you can trust them easily.

We have considerable expertise working with regulators and brokers and can assist you in filing an effective claim. Ponzi schemes are often difficult to identify as such, especially in their early phases. Ponzi schemes are fraudulent investment schemes that promise big returns with low risk. Ponzi schemes generate profits for previous investors by attracting new ones. This is comparable to a pyramid scam in that both use new investors’ monies to pay off previous investors.

Broker Types

But the majority of violators have historically been United States-based companies, not the offshore ones. An old point-spread forex scam was based on computer manipulation of bid-ask spreads. The point spread between the bid and ask basically reflects the commission of a back-and-forth transaction processed through a broker. The scam occurs when those point spreads differ widely among brokers. If there is no information about the company executive team, where the company is located, or what phone support it offers, it is most likely a scam. Scam brokers don’t want any names, locations, or contact information linked back to them when they inevitably get into trouble. The easiest way to check a broker’s registration is to look for it at the bottom of the website. The picture below is the bottom of 12Trader, a broker we recommend avoiding.

They said yes,but after that, they send email again that I need to pay OCC worth $800, but i paid only $500 because Eric Frank said he will lend me money to complete the amount. He lied,Margaret Moana the Ceo, asked me how much I paid for OCC? Eric frank instructed me to tell her i paid $100 only, so means they are doing fraud already. Then Moana take over and said Eric Frank is doing fraud.
Lost money to online fraud? We will recover your funds !
They simply vanished, the site was closed, and the terminal ceased to function.” It was said in another review, “I’d like to tell you about my bad experience with Vector Securities. Don’t believe a firm like Vector Securities if they entice you! ” Countless other similar evaluations have been written, indicating that this website is a hoax. This is certainly one of the most common forex trading scams operations out there.

Tenkofx is more likely to be a fraud if it requests a higher-than-average fee. If Tenkofx provides higher leverage than that, it may be a hint that Tenkofx is a scam. Tenkofx conceals the majority of the trading conditions, raising suspicions. The primary issue when exploring Tenkofx was that the broker did not offer his physical address in the contact area. There are also no predicted spreads, making calculating the cost of trading with this broker impossible. Trading in Forex and CFDs often takes time to become profitable, so be skeptical of any forex broker who offers the chance to “get wealthy quick” or to make large and fast returns on small deposits. Earning money in the Forex market is possible, but it is rarely simple or quick. Phony Forex brokers typically approach prospective clients in a friendly manner, inquiring about the client’s personal lives and assuming a friendlier approach over a professional one. Client information regarding their personal lives is frequently used as fuel for their deceptive tactics, which they employ throughout the course of the client’s investments.

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

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