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69Brokers (69brokers.com) is a CFDs and Forex scam that must be exposed. This broker is scamming users with the intent of taking everything. Complaints have been sent to us via email by users who have been conned by 69 Brokers. And this was the reason why we had to conduct a full and thorough investigation. Make sure you read the entire review to find out the shocking truth regarding 69Brokers.
As we always say in almost all our reviews, it pays to read what professional traders are saying. Reviews are meant to open investor’s eyes into the possible outcome of a broker. With this review, we will expose all the dirty tricks used by 69 Brokers. First red flag that we must mention is how they have easily created an enticing website. If you notice carefully, these scammers have a user-friendly website.
Don’t be easily enticed by the homepage, it’s what these scammers want, to grab your attention. Another factor that we must point out is the many fake claims and promises used. Scammers know for a fact that we all want to make an extra buck. And they come up with ways of claiming that they can make this happen. What these scammers do is claim to help investors make money by simply signing up.
According to the disclaimer at the bottom of the homepage, there’s no indication of the owner. This is one of the red flags that we noticed with 69 Brokers. How do they expect any investor to sign up with an unknown entity? Folks, there will never be a safe time to pull out of 69Brokers than right now. Ask yourself this question, why have they failed to mention their identity? Simply, they don’t want to be known.
Anonymity is a key ingredient to making a successful scam. These scammers have made it perfectly clear that they don’t want to be known. A legit broker will easily reveal their identity mostly at the footer of the homepage. All what 69Brokers does is leave a disclaimer that they are not offering services to some citizens. Yes, they claim not to offer brokerage services to American and Japanese citizens.
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This broker simply has no authorization to conduct any Forex business on behalf of any third-party. What this means is that anyone who signs up with this broker is in league with an unregulated broker. Evidence clearly shows that we are dealing with a brokerage firm that must be conducting business illegally. Where are their registration details if they truly have them? A legit broker would have posted registration details on the homepage.
Clearly, this broker is out to create more harm than good. A broker who has never seen the registration doors is merely a fraud. Don’t sign up with this broker as no regulation body has come out to defend them. Note that some of these brokers can say or do anything to make their platforms appear legit. This wouldn’t be the first time a broker has posted false information regarding their services or registry.
Here’s another red flag that is worth mentioning, these guys have rigged their demo account. Now folks, this is one of those tricks that the naked eye cannot see. They have rigged the demo account in favor of members. Once you try the demo account, you will notice that trades will be 90% successful. This is what these scammers want, you to believe that their platform can indeed make money.
Next step will obviously be opening a real account with them in the hopes that trades will be mirrored. Problem with this is that a real account demands that you use your own money. Results will be totally different from the demo account as most trades will be losing trades. What we believe is that the broker is giving false information so that members lose funds. This is why we don’t advocate anyone to sign up with a fraudulent broker.
Here is another visible claim that is a hoax. 69Brokers claims to be available to users via their professional support team. What they actually say is that they are available 24 hours a day if members need any help. Folks, there’s nowhere on their website where there is any live support. In fact, the only support is via email which might take more than 24 hours for a response. This is another fake claim they have posted without being factual.
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To be brutally honest, funds are never safe with this broker. How can they be safe with an unknown broker? This is why we believe signing up with 69 Brokers is signing up for a loose making venture. To begin with, where are all the deposits going? This broker has not revealed their depository bank. Another scary factor is that this broker maybe pooling funds in one account.
What’s more scary is that this broker does not participate in a compensatory scheme. This means that members will not compensated for any losses incurred. With a legit broker, it’s their duty to insure member funds from any unforeseen loses. Also, we believe that these brokers don’t segregate accounts. This means that members are depositing money in one account which is really dangerous and stupid.
What this broker claims is that withdrawals takes place immediately. This is a pure lie as members are complaining about the slow withdrawal process. 69Brokers is giving excuses such as members not reaching required trading volume to warrant a withdrawal. What they have said is that delay of payment is seldom. Why are members complaining of not being able to withdraw funds?
According to their homepage, 69 Brokers claim to have an easy to use platform. They claim that their platform is fast and reliable on all devices. What we did was try to download their platform on all our devices. Sadly, this was not possible as download stalled at 31%. What this means is that they have an unstable platform. An unstable platform is bad for business as its prone to cyber-attacks. Stay clear from this platform.
There’s no doubt in our minds that 69 Brokers is a terrible scam that is scamming unsuspecting Forex investors. From the level of anonymity to splashing fake claims, 69Brokers is indeed a scam. Want to stay clear from this broker? Make sure that you ignore all incoming promotional materials. First thing to do is mark all their emails as Spam and never click on any links sent by 69Brokers.
Only option we have is to blacklist this broker for the scam they are. It’s a shame that there are fraudsters in the Forex industry who are tarnishing the good trading name. And this is why we believe that relevant authorities will look into this platform. Hopefully, this website will soon be brought down by the authorities.
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Finally, we wish you all the best in your Forex trading experience. Always ensure you trade safely at all times
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