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FWMarkets Review: Forexwings.com Awful Forex Scam

FWMarkets Review: Forexwings.com Awful Forex Scam

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FWMarkets (Forexwings.com) is a brutal Forex broker purporting to offer users with a safe platform. FW Markets is simply another scam trying to suck the funds out of online investors. After receiving numerous complaints from users who were duped by this broker, we decided to investigate. Exposing rogue brokers is a way of ensuring the Forex trading name remains anonymous. By reading this detailed FWMARKETS review, truth will be exposed.

FWMarkets Review

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FWMarkets Review

After landing on their homepage, we can see why most users are signing up with this scam. What these scammers have done is create a visually compelling website. In other words, they are cloning a website and making it look real. By having a brokerage website, these scammers are simply filling their pockets with funds. All they are asking for is users to deposit funds and hope to make quick returns. And this is what scammers are good at, professing they can help traders make profits.

Claims and promises are what makes scammers get what they want. By throwing in over the moon promises, they know users will sign up. Investors want to make a quick buck or two; scammers want to take advantage of this need. What investors should be wary of is opening an account with such brokers. Some of the members have lost over $5,000 with this platform. Ensure you stay away from FWMarkets as they are simply out to make money by scamming investors.

About FWMarkets

Who are the people running this website? A broker who is operating anonymously is a dangerous platform to work with. Due to their anonymous nature, anyone who deposits funds should not expect to hear from this broker. What about names of the founding members? Why have they failed to mention people who founded this brokerage firm? It seems we are dealing with a professional scam outfit. Professional scam artists don’t want to be in touch with the real world. They are afraid of the backlash from authorities and victims.

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Disclaimer at the footer of the page claims FWMarkets is registered in St. Vincent and the Grenadines. What it means is we are dealing with an offshore broker, meaning trusting them is out of the window. How can anyone deposit funds to an unknown entity? Scam artists have been going for offshore bases to avoid being detected. Most of these brokers simply want to fill their pockets with cash. Trying to recover these cash is next to impossible. FWMarkets is another brutal scam waiting to pounce on you.

Is FWMarkets Licensed?

How can a broker based offshore be properly licensed? Looking at their homepage, this broker fails to have any details regarding licensing. It means we are dealing with an unauthorized broker. Investors signing up with unregistered broker are throwing away all chances of being kept safe. Regulatory bodies will never be able to protect users who sign up with offshore brokers. Offshore brokers are only good at stealing funds from unsuspecting online investors.

Where are their licensing credentials to prove credibility and a valid license? Lack of these documents is proof we are dealing with a rogue broker. Sign up with industry leading and stable Forex brokers at all times to avoid being scammed. A true broker will post details of their licensing details to prove authenticity. Why has this broker failed to post their credentials? It’s simple; they are not regulated by any financial body. Stay away from FWMarkets or become their next victim.

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Account Types

FWMarkets is attesting to offer three types of trading accounts. Users can choose to use Gold, Platinum, and Diamond Pro accounts. What we noticed odd with these accounts is how similar they are to each other. How can a broker offer the same trading advantages on different account types? It seems this broker did not think it through making them totally unprofessional. Stay ahead of the pack by getting to find out account differences. Having a broker offering different incentives is better than one having same features.

Demo Account

Another shocking detail we found with this broker is having a rigged demo account. By rigging their demo account, they have managed to entice users. A rigged demo account produces insane profit margins which are not true. FWMarkets is rigging their demo account to make over 98% successful trades. Having a demo account making such huge profit margins is definitely going to attract investors.

FWMarkets Demo Account

Most investors go ahead and open a real account hoping to mirror results in the demo account. And this is where all things go wrong with a real account. Ask any professional trader, making over 90% guaranteed profits is never going to happen. Prices change due to a number of reasons such as boardroom wars and competition. Guaranteeing users will make over 95% successful trades is a lie. Watch out for any broker who offers a demo account which makes only successful trades.

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Are funds secure with FWMarkets?

With a broker who is based offshore, funds will never be secure. Hundreds of members are crying foul over handling of funds by this broker. Where do they bank money deposited by investors? Another unsettling issue we found with this broker is lack of proper security. Website is not SSL Encrypted which means users are at risk of being hacked. Another horrifying issue is users are depositing funds straight to owner’s personal bank account. How shocking is this!

When it comes to segregation of accounts, this protocol is not followed. FWMarkets is pooling assets in one account which is extremely dangerous. FWMarkets is not insuring funds being deposited which is a sad situation. Ensure you stay away from this broker as they hardly follow any set industry instructions

Is FWMarkets a Scam?

With all evidence produced, FWMarkets is definitely a scam. Stay away from this broker and start making money with the right tools. Mark all their emails as Spam and warn your family and friends from joining this platform.

Bottom Line

FWMarkets Forex Broker Review

Adding this broker to our scam blacklist will add more pressure to authorities to shut down their website. Ensure you stop any attempts by their marketing team to sign up. Move away from this broker and choose other reliable and reputable trading tools.

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Wishing you a successful trading experience.

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