CitiFXMarkets (Citifxmarkets.com) is a CFDs, Crypto Currency and Forex scam to rear its ugly head on the trading platform. Citi FX Markets is purporting to be a trusted online trading provider that makes traders dreams come true. Complaints have been sent to us by users who have lost chunks of money with this bogus platform. That’s why we decided to conduct an investigation. Read this detailed and honest CITIFXMARKETS review.
What this broker has done is create a well-designed website that easily entices the eye. And guess what, that’s what these scammers are after. To grab your attention immediately you visit their homepage. And again, they throw in empty claims to try and suggest that they are based in the UK. Don’t trust anything these scammers say or do before reading this review. There’s more than meets the eye with CitiFXMarkets.
Claims and promises used here are simply, out of this world. They are baseless claims that will not bear any fruits. According to their homepage, CitiFXMarkets claims to be the world’s first broker-less trading platform. What does this really mean? Are they throwing brokers off the window with their platform? A platform that does not involve brokers and is anonymous is fishy, to say the least. Stay clear of this platform.
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According to the about us page, they claim that this brokerage firm is owned by Citifxmarkets Ltd. Information laid out states that this brokerage firm commenced business in 199 in Dunstable, Bedfordshire. Jonathan Hufford is apparently the person who founded this company and has helped it grow. Folks, this page later claims Citi FX Markets Ltd launched online sports betting in 2006.
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It should be noted that scammers will do or say anything to get people to sign up with this platform. To begin with, these scammers have used the name of a renowned businessman to claim ownership. Scammers have the tendency to use famous people’s name for clarification legitimacy purposes. Why have they failed to mention the real names of people currently running this company?
Another disturbing feature with CitiFXMarkets is the claim that they have been registered by the Financial Conduct Authority. This is another blunt lie that’s meant to make users believe they are signing up with a legit broker. If you look carefully at the about us page, they claim to be authorized and regulated. 190941 is the number used to claim regulation, however, this number is simply a random number.
What these scammers have done is use a fake number to try and prove authenticity. Looking at the Financial Conduct Authority records, they do not use this algorithm to register brokers. What this means is that we are dealing with a professional scam outfit. Why haven’t they posted these certificates and documents for users to verify? It’s clear that we are dealing with a ruthless broker who is posting fake details for legitimacy purposes.
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Another disturbing feature we noticed with this broker is lack of live chat support. Live chat support dashboard at the bottom left side always screams offline. This means that users are only left with sending emails to this broker. What’s disturbing is that these emails take long to get response to. It’s clear that this broker does not want to interact with any user. They are afraid of the backlash they will receive from authorities and victims.
CitiFXMarkets is also in league with hackers to steal personal data. If you look closely at their live chat dashboard, you have to leave your email address. Why do they insist that you leave your email and have an offline chat support? This means that this broker is harvesting data for hackers. Investigators should look at this brokerage firm and shut down their operation. This will protect newbie traders from falling into this trap.
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According to the homepage, this broker does not divulge which platform they use. What the homepage claims is that this platform will help users determine the direction for the nearest future. They claim that this platform can check the accuracy and forecast of the results in seconds. Claiming to be fully customizable, fast, and reliable, we decided to test it. Downloading it was our next option.
And this is where we faced our next big hurdle, download stalled at 24% which spells doom. Hackers find unstable platforms as easy breeding ground for credit card information. These hackers are in league with brokers to steal personal data. That’s why we strongly condemn the use of this broker. CitiFXMarkets is simply going to aid in hackers bleeding your bank account dry.
To be brutally honest, your funds are not safe with this brokerage firm. Have you noticed that they fail to disclose important information regarding money? Where do they bank money deposited by users? It’s highly possible that members are depositing money straight to the owner’s personal bank account. Stay clear from this bank account and make sure not to sign up with a fraudulent broker.
Another scary factor with this broker is that they don’t segregate accounts. CitiFXMarkets is pooling funds in one account which is dangerous. In case of bankruptcy or insolvency, funds will be lost immediately. This broker will not alert users about the impending danger. Don’t expect to be compensated; Citi FX Markets does not participate in a compensatory scheme. Make sure not to sign up with this rogue broker.
Claims of trading 24/7 are outright bogus and never going to happen. How do they even manage to do this? How comes that CitiFX Markets is able to trade nonstop during the weekends. And this is where a line must be drawn. Don’t trust anything this broker says.
Citi FX Markets also claims to have advanced charting tools. How can they have advanced charting tools and users are complaining of losing money with this broker? It has come to our attention that this broker is giving false reports. CitiFX Markets is in league with other brokers in order to share the spoils. By this, we mean share money deposited by investors.
Evidence clearly shows that we are dealing with a rogue Forex broker scam outfit. From their fake claims to using fake registration details, CitiFXMarkets is a scam. Make sure to mark all their emails as Spam and never click on any links sent by them. Warn your friends from signing up with this broker.
Only option we are left with is to add this scam to our broker blacklist. Shutting down their operations will greatly help protect newbie investors. Don’t sign up with this broker unless you want to lose your money, and more. Stay clear of CitiFXMarkets and sign up with legitimate and Proven Forex brokers.
Reliable and Reputable Forex brokers will ensure your safety when trading Forex. Go for Forex brokers who are Genuine and Honest in their dealings. This will guarantee you make realistic profit margins trading Forex.
Finally, we wish you all the best in your future Forex trading experience.
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