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
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
Allen Roel Costales
522 Tanglaw St. Mandaluyong City Barnagay Plainview
Sale Team Leader
Unit 1414 Kumagawa Bldg River City Brgy 880 Sta. Ana Manila, Philippines
8137 Yabut Street Guadalupe Nuevo Makati City , Philippines
639175048891 / 639991854086
All of this persons need be condemned and moved in Jail.
!!!!!STOP STEAL Philippines MONEY!!!!!!
Obviously, FXCL did not do any of the above, and could not even be regarded as a broker, but just a scam in the foreign exchange market. This is to prevent them from wanting to withdraw their money if they are scammers. Don’t assume that FXCL is legal just because it had a friendly chatbot that greeted you when you first visited the site, or because the broker paid you a lot of attention in the first few weeks. This does not mean that you are discouraged – in many cases, trading is safe and reliable, but only with the right broker. A good broker should not only be regulated, but also have a good reputation, excellent trading conditions, and exceptional support. Regardless of the trading conditions provided by FXCL, we do not recommend that you trade with it as it is unregulated and likely to be a scam. He can inflict huge losses on his clients and therefore, in our opinion, is a potential scammer. ScamBroker.com is a broker reviews website, and does not offer any investing advice or service.
FXCL promises its customers a strictly regulated and secure trading environment. Some brokers may provide a wide variety of trading products, while other brokers may specialize in one area, such as foreign exchange. No matter what trading products you find in the FXCL reviews, please make sure that they have obtained permission to trade the products they offer. Our thorough in-depth review of the brokers FXCL finds, that they give investors just a simple web-based trading platform called Panda.
These complaints can range from issues related to execution periods of orders or requests, issues related to the functioning of the broker’s website, rates offered by GFX versus other companies, and so on. GFX states that their clients have to pay commissions and fees, but they fail to mention the amounts. Furthermore, this broker states that it reserves the right to change its fees and commissions structure at any time without giving any notice. Just for your information, the market average for spreads ranges from 0.5 pips to 1.5 pips. So, even if this broker were regulated and did not have conflicting information on its website, we would still no recommend GFX to any of our readers. A source close to GF told Caixin that Zhang Wei, a GF deputy general manager, will likely be promoted to general manager as he has the most support inside the company.
- Whatever the circumstances, a broker who provides this type of service has a high risk of conflict of interest.
- This is why it is important to learn more about FXCL before opening an account and sending money or submitting any documents.
- Cyber-forensics.net offers cyber forensics services for regulators, law enforcement, companies and individuals.
- You should always be able to determine whether the broker is an A-Book or B-Book that takes the opposing side of the trade.
- Foreign scammers take advantage of their understanding of the forex exchange business by preying on their victims with sophisticated language.
- Request background information as well as complete disclosure of earnings and losses.
FXCL is an unlicensed CFD broker that allows investors to trade CFDs in forex, cryptocurrencies, stocks, commodities and indices. We do understand that you’ve already been scammed online and that you’re naturally afraid of paying online. This is why we do offer a free case review, and won’t charge anything if your case isn’t qualified. Please do your part of the deal, and submit your case only if you truly intend to proceed with the recovery process.
Should I Choose FXCL?
When wanting to trade Forex, it’s critical to select brokers who are trustworthy and viable and to avoid those who are not. Before depositing a substantial amount of capital with a broker, we must go through a number of processes to separate the strong brokers from the weak and the reputable ones from those with shady practices. Trading is difficult enough on its own, but when a broker employs methods that work against the user, profiting becomes practically impossible. An old forex fraud involves the automated manipulation of bid-ask spreads. However, the Forex broker lacks the necessary FCA license to do so. 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. In a review on liquid markets, Bilabrain states, “Liquid Markets are seasoned con artists.
Strategy One Ltd., an offshore corporation established in St. Vincent and the Grenadines, owns MaxiTrade. The Forex broker does not have a compulsory FCA license to do this. Some brokers may offer a wide variety of trading products, while other brokers may specialize in one area, such as foreign exchange. Attentive and helpful customer service is also a sign of a trustworthy broker.
Another huge negative with trading with GFX Securities is the brokerage’s high minimum deposit requirement. On an average, brokers in the forex industry require their customers to make an initial deposit of around $100 – $250. While searching online about GFX Securities’ regulation status, we found a large number of negative reviews about this broker from traders who had used its services. At all costs, avoid brokers who do not give you the necessary credentials. Do your homework and look into governing agencies to see if a forex broker has a strong legal standing in the forex market. If you are unable to retrieve funds from your account, it may be time to start thinking about your investment.
Many reports on the Internet describe how Liquid Markets distorted price charts, prohibiting traders from trading normally.” The broker “Liquid Markets” has turned into a con artist. FXCL Option was created to help traders earn money in a modern and simple approach – trading binary options and profiting with a single click. Since 2015, the company “Fxclearing.com” has been offering brokerage services. This broker says that its key advantage is access to the finest liquidity, dependable products, and excellent support.
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. Following some investigation on several social media platforms , as well as online trading forums, a common pattern arose in which individuals were disappointed https://www.fxclearing.com/ 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.
The first step in protecting yourself from fraudulent internet parties is to conduct extensive due research on the firms and organizations to which you intend to transmit payments. There have almost certainly been other people who have utilized the same service and have offered their ideas and feedback online on numerous forums. If a trader is not authorized by the regulatory authorities in your jurisdiction, they are likely unregulated and should be avoided. Even if the brokerage is regulated, avoid it if the regulator is based in another country. Any professional broker should make it readily apparent where they collect costs, whether straight commission, spread-based, or otherwise. You should always be able to determine whether the broker is an A-Book or B-Book that takes the opposing side of the trade.
Look at the spreads and commissions and check them against those of other regulated brokers. When it comes to legitimate brokers and their commissions, fees, and spreads, every potential client has to ask themselves what they are comfortable with. Belize is known as an offshore destination and is renowned for its milder regulation and licensing requirements and lower incorporation costs. Receiving unsolicited phone marketing calls pitching everything from vacation packages to TV subscriptions is now standard practice for anyone with a phone. Although many of money stealers these conversations conclude with a polite message saying the person is not interested. However, an average of 1% to 4% of these calls are successful, and this little number is enough to keep the practice going. A Forex phone hoax will usually try to get your attention right away – within seconds, the caller will either 1. Propose an opportunity to invest almost nothing and obtain inflated gains, or 2. Identify themselves as a professional trading expert representing a Forex firm. Although some of these calls may be legitimate, the majority are Forex scams.
Please listen to the live hearing on the Bangladesh Bank Forex scam in the Philippines Senate. https://t.co/HyfBSYmMrL
— Dr. Mizanur Rahman (@mizanrsharif) March 15, 2016
This is reason why various regulators around the world have decided to put a cap on the amount of leverage a broker can offer. Lesley was not very tech-savvy, so he did everything they asked him to do, which took them 2.1/2 days before he finished everything he was asked to do eventually. It was mentioned in another review, “For a year and a half, I worked for North-West Financial Broker, also known as NWFB. Technical assistance is no longer available, no one answers phone calls, and e-mails are disregarded. Broker NWFB was discovered to be a fake resource.” As a result, it is possible to conclude that this broker is a swindler.
- Trading in CFDs may be impacted by changes in currency exchange rate movements thereby affecting your investment return therefrom.
- They entice you with promises of wealth and grandeur fit for a king.
- You can see they offer CFD trading on many underlying assets including; Forex, Commodities, Crypto, Shares and Market Indexes.
- 78% of retail investor accounts lose money when trading CFDs with this provider.
- 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.
Nothing in the market, particularly the currency market, is guaranteed. The market is influenced by too many variables that can alter at any time. So, if someone boasts of massive earnings, guaranteed profits, or precise results, they are operating a fraud. The creation of the Cyprus office physically placed us in one of the most successful Forex markets, putting our firm in an even better position to carry out Forex Scam Litigation. Most major currency pairs have four decimal places in their prices. Therefore the smallest fluctuation is that of the last decimal point).
“Vertical Markets,” which was founded in Europe in 2008, operated in an offline manner until 2015. Nowadays, this broker is actively growing and successfully providing traders with services in the European, Russian, and CIA markets. Vertical Markets is a trading name of TS Basis LTD, a Seychelles-based corporation. The combination of offshore registration and a lack of control is risky.
We have some information about owner of Fxclearing.com (FXCL) SCAM company and its may be resident of USA: Alex Teplitsky