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Favor Trades claims a group of seasoned financial professionals established it. Their passion for online investment drives them. The expert provides investing tools, professional assistance, and multiple products and services that will help you generate profit. Our main concern is the entity is operating anonymously without crediting the alleged team.Â
Additionally, the platform fails to provide trading results. Investment is all about statistics, and without them, we cannot validate the venture is worth your time. There are many questions surrounding the scheme. The firm lacks transparency, and you should not trust them with your earnings.
Regardless, Favor Trades states it protects client funds in top-tier financial institutions. They do not care to disclose the name of these international banks. The law mandates all brokers to segregate funds. It ensures their greedy personal needs. However, offshore schemes will collect money directly to the accounts where customers cannot recover the cash.
Invest with genuine forex trading companies that have years of experience in the market. These are fully licensed platforms that care about the well-being of their clients. You will enjoy ideal trading conditions and fast withdrawal processes.
Favor Trades claims to execute over 1000 successful trades daily. They have multiple investment products. These include; Forex, metals, shares, CFDs, Commodities, Cryptos, and Indices. The entity states it does not collect commissions or fees. This brings up the question of how the scheme makes a profit? If the deal is too good, it’s always right to think twice.
These statistics are unverified, and for all we know, the entity might be cooking figures. Despite the venture being new in the market, they claim to be an award-winning CFD broker. They did not mention the organization which recognized them in the market. This is a mare bluff, and nobody would endorse such a losing scheme in their right mind.Â
The problem with offshore platforms is that they abandon their cause after facing volatility. They will use intriguing adverts to trap more victims, but they fail to deliver results. The firm targets novice investors as they lack adequate knowledge of how the market operates.
Favor Trades domain name is privately registered. It was also recently established, and entity targets being in the market for a short duration. Once they exit the market, they will return using a separate name with an even better spiced-up narrative.Â
Favor Trades provide a web-based trading platform. You cannot compare advanced reading software with this interface. They are a better option in the market than the MetaTrader software. The interface has a VPS that keeps watch of your order even when your computer is turned off. You can also customize your own trading EAs and scripts.Â
Additionally, clients have access to multiple markets and can use advanced indicators. Investment schemes that use web traders prefer the interface as they can easily manipulate the price. The platform does not have a demo account. Investors cannot familiarize themselves with their trading activities or know the conditions available.
Favor Trades advertiser leverage ranges from 1:100 to 1:500. This does not surprise its offshore platforms can offer whichever leverage they please. However, license entities have limits on the leverage. This protects investors from experiencing massive losses.Â
Favor Trades accept funds via credit/debit card and wire transfer. It is only the latter method whereby you can’t issue a chargeback. The other way allows clients to give cashback for 540 days. To deposit money, clients have to provide their government-issued documents. Avoid sharing such critical data with anonymous individuals as it could land you in more trouble.
The company is offering trading bonuses but has unrealistic conditions requiring the client to meet to cash out. The broker is only trying to retain the cash in their system. Legitimate schemes do not provide lucrative opportunities as the authorities have banned them.Â
The money legally belongs to the platform. They can therefore choose to release or withhold the bonus. This being a scam the making you expose yourself to more risks. All scammers run in the same manner. Therefore, the only way to avoid them is to take action and familiarize yourself with some major red flags.
The customer support allegedly operates 24/5. The company claims it has quality support services. Their staff love solving problems, and you can rest assured you will receive a quick response. Unfortunately, there is no phone number, and the client can only contact the team via email.
Offshores brokers lack sufficient funds to hire professionals. They will ignore messages coming to their way and blacklist clients that come after them. You will trade with uncertainty and never enjoy peace of mind.Â
Favor Trades is an offshore company operating from Saint Vincent and the Grenadines. The country’s government issued a statement indicating it does not license online investment activities. Therefore, any broker that originates from this destination operates as it pleases without following any rules. The country is also infamous for hosting several scammers.
Moreover, anyone can register an investment scheme online without physically being there. Therefore, it is impossible to go after the fraudsters once they exit the market. Additionally, entities can change the terms and conditions overnight without notifying customers. Some offshore entities have hidden charges that will only be disclosed once you request a withdrawal.
You will also not receive negative account balance protection. Hence, you may end up losing more funds than you initially deposited. Once the scheme exits, the market client will not receive compensation. Favor Trades is not reporting its daily transaction report to the financial bodies. It is impossible to verify their trading activities, and the venture does not manipulate prices.Â
Moreover, the firm has received a warning from the Latvian Financial Agency, Financial and Capital Market Commission (FCMC). It is a huge red flag when a venture gets negative attention from a financial watchdog. You will automatically lose cash by venturing into the scheme.
Investing with a legitimate broker grants you peace of mind. You will also enjoy ideal trading conditions. Customers’ money is segregated in a separate account for the company. The law monitors every process taking place in the entity.
Favor Trades has a testimonial section. Random people are showering praises on the company. Some claim they are not traders but have partnered with the platform and earned a steady income. This is an affiliate program whereby you have to invite people into the scheme to earn a certain percentage of commission.Â
Reviews also indicate the withdrawal process is fast. The customer support is responsive and professional. After running a background check on the image, we realized the platform uses stock images. The entity itself has written these statements.Â
Scammers use unethical marketing strategies to remain relevant. Learn to distinguish between fake and genuine information. If you are not careful, you will lose everything.Â
Favor Trades is a nasty platform that does not care about investors’ needs. The trading conditions are unrealistic, and we haven’t seen their verified trading results. The location of the scheme is another big red flag.Â
Invest with legitimate forex trading companies. These are entities that have been in the market for years. You will earn passive income while you enjoy ideal trading conditions.Â
No, the scheme exposes traders to severe risks.
Unfortunately, this is an illegal scheme
The only thing you can get from Favor Trades is huge losses.
Are the trading conditions of Favor Trades favorable?
Does Favor Trades have a license?
Can Investor earn the advertised returns?
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Alert!
Fill out the form below to recover your lost funds from this scam company
The company FavorTrades.com deals with phishing, money for trading cryptocurrencies.
Applies to servers:
95.216.120.52 (mail.favortrades.com, mail server, they probably don’t use it anymore but forgot to hide it)
65.108.82.104 (webtrader.favortrades.com)
I found that the company, despite the fact that it uses the services of the American entity Cloudflare, Inc., which handles a significant part of internet traffic in the world and allows you to maintain some kind of privacy, does not have this service well implemented and I managed to find where to actually and physically the hard drive contains the following data:
Hetzner Online GmbH (https://www.hetzner.com/legal/legal-notice)
This is your hosting company
In addition, the domain is registered at:
Kalkofnsvegur 2,
Reykjavik, Capital Region, 101
Already on the complete margin, checking the links of the two servers I was able to reach looks like a really big scam and it’s not the only platform that this company runs, but it’s literally a fraction. There are really many connections and it must be an extensive procedure. A complete research on their infrastructure alone could take up to a week.