Cheonan International is a forex broker that promises traders the best trading environment. On the platform, users can trade different currency pairs, metal, futures, and cryptocurrency. The company promises clients speedy service response and fast transactions.
Any novice trader would believe that this is a legitimate forex broker. However, the truth is far from that. This company has a lot of red flags and missing details. The design of its operations spells a disaster waiting to happen.
This company does not care about customer satisfaction. They are only in it for the money. They are willing to lie just to swindle people off. This review will provide you with details on why you should avoid this company.
There are many other companies like Cheonan International. They enter the forex market, promising things they cannot deliver. Their only mission is to scam people their hard-earned cash. Watch out for such companies.
Luckily, there are many legitimate forex brokers in the market. Only such companies can deliver the kind of service that you are looking for. They have been around for a longer time and operate in full transparency.
A quick look at the company’s website, and you may think they are legit. The website is clean and professional. However, this is just for aesthetics. The website does not deliver equally professional services. There is very little information for clients.
There is no mention of the account types, minimum deposit, or supported payment methods. The company leaves this for the clients to figure out. Additionally, the sign-up process is not very professional. The company requires you to enter your details before revealing what you are getting.
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This is not how legitimate companies operate. Legitimate companies will offer enough information up front. This helps clients make informed investment decisions. Avoid Cheonan International at all costs.
Additionally, this company promises to cater to all kinds of traders. However, there is nothing on the website for novice traders. There are no training or introduction materials. The company expects people to jump into investing without a clue of what they are doing.
Further, the customer service is not reliable. Clients can contact the company through email at [email protected]. Additionally, they can contact the company by filling out a contact form on the website. Nonetheless, the company does not reveal how long it takes to respond to customer queries. It may take hours or even days. No one can tell.
Cheonan International promises clients a few features to make the platform enticing. They promise to offer ultra-low spreads. This is to ensure that clients save on transaction costs. Additionally, they promise flexible trading leverages.
Further, clients get an STP direct transaction platform. This ensures that clients close orders through the international market. Additionally, they promise to reduce operation fees. They boast of focusing on customer satisfaction.
However, these are just marketing tools. The company does not measure up against the best forex brokers in the market. There are forex brokers that offer far better deals. Moreover, this company is not transparent about critical information. There may be hidden fees that they are not telling people about.
The only good thing about Cheonan is that they use the MT5 platform. This is a powerful trading platform popular among traders. It is robust and has fast execution times.
It is always good to know the founders of a company before you invest. This may give you an insight into what to expect. Unfortunately, Cheonan International does not introduce the team members to the public.
The website does tell us who they are or what their background looks like. This is a common characteristic of fraudulent companies. The founders hide their identities to avoid facing the law. There are many risks involved in giving your money to mysterious people on the internet.
Even worse, the company does not reveal where it operates from. They are purposely hiding this information to avoid anyone tracking them down.
Only fraudulent companies see the need to hide such information. Legitimate companies operate with high levels of transparency. It is impossible to tell why Cheonan International chooses not to reveal these details. Moreover, it would help boost the trust of clients.
The regulatory status of this company is worrying, saying the least. The company provides a list of regulatory bodies that they comply with. These include the NFA, the FCA, the SFC, ASIC, and FINTRAC.
However, a quick search on the respective websites and there is no evidence of this. The NFA lists the company as not a member of the NFA. Additionally, there is no information on the company on the FCA website. Therefore, it is clear that the company is lying about its regulatory status.
Additionally, the company claimed to be part of Blackwell Global Investments Limited. On the contrary, Blackwell Global Investments Limited issued a warning against the company. They claimed that the company was cloning their website and presenting false information. Cheonan International is bad news.
They promise clients to provide a secure trading environment. They say that their systems are fully protected from hackers. However, we already know that the company is willing to lie to attract customers.
This information is not trustworthy unless they present evidence. The website does not have an SSL certification, which is worrying. This means that Cheonan International cannot assure you of your funds’ safety.
No, this is not a trustworthy company. They have red flags in every corner of the company. Moreover, the company operates with little transparency to the clients. They do not reveal critical investment information. Further, the founders operate in full secrecy.
Even worse, the company is unregulated. They lie about their regulatory status to attract customers. There is no evidence that shows they are a regulated entity. They are not listed on the various regulatory body websites.
These individuals even lie to be a part of another legitimate company. There is no telling what such a company may do next. Founders may take off with investors’ money any time they want. Moreover, there is no one keeping them in check.
Additionally, they cannot assure you of your funds’ safety. The website does not have any certification to prove protection. Hence, it is at the risk of hacking attacks. Clients may end up losing their money or their personal identifiable data.
Companies like Cheonan International only come to the market for the money. They promise a lot of features only to attract eager investors. Do not trust such a company. They will take off with your money, and you will have no one to run to.
Moreover, this company has not been around for a long time. It is better to wait out any new company before investing. That way, you can gather enough information about the design of operations.
In the meantime, there are legitimate forex brokers that you can invest in right away. Such companies have been in the market for a long time and are trustworthy. Additionally, they operate with full transparency. They will provide you with the best environment to safeguard and grow your investment.
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