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Forex Birds Review: Forexbirds.com Abysmal Scam Exposed

Forex Birds Review: Forexbirds.com Abysmal Scam Exposed

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Forex Birds (Forexbirds.com) is an atrocious broker who uses false claims of being regulated by the FCA. ForexBirds is another offshore broker located in St. Vincent and the Grenadines. The broker has been blocking withdrawal requests from members for a while now. These scam brokers are enticing investors to sign up using over the moon claims and promises. To protect our readers, we must expose the tricks used by the broker. Read this genuine FOREX BIRDS Review for more information.

Forex Birds Review

About Forex Birds

The broker claims to be well-regulated according to their about us page. Offshore brokers will do or say anything to try and make their platform’s appear legit. And this is the reason why it is best to conduct a search on a broker before committing funds. Results will prove Forex Birds is another online scam targeting unsuspecting investors. For over one year, the broker has scammed hundreds of online investors. The trend stops now as their scam details are clearly mapped out.

Online trading can be a lucrative form of making money if only the right tools are used. Signing up with a modest expert who knows the ropes is the safest way to trade. Before joining any brokerage firm, read online reviews of what other investors say. Forex Birds is on the receiving end after numerous complaints were posted by members. Stay away from ForexBirds or else risk losing your entire funds and more.

Assets Found on Forex Birds

Forex Birds is furnishing members with four classes of assets on their platform. These include commodities, Forex, indices, and spot metals. The broker offers CFDs on their platform but fails to mention the full details. According to their commodities page, the broker offers hard and soft commodities. These include agricultural products such as coffee and grains. Hard commodities listed include diamonds, oil, and precious metals.

Forex commodities listed on the Forex trading page include forward FX market, Future FX market, and Spot Forex. The broker is not clear on the currency pairs available on their platform. Indices listed are specifically from the New York Stock Exchange according to the information posted.  Gold and silver are the precious spot metals offered by the broker. Lack of leverage and spread on these assets inconveniences members. They are signing up not knowing whether the broker offers fair or harsh trading conditions.

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Business Owner

Forex Birds is claiming to be owned by the mother company Forex Birds Ltd. They claim the company has offices in the UK and St. Vincent and the Grenadines. These are clear indications we are dealing with an offshore broker. Offshore brokers are notorious for breaking trading regulations. They are also anonymous since they fail to give actual names of the founding members. It is best to know who is behind any online investment platform for accountability purposes.

Domain Registration Details

According to domaintools.com, the website forexbirds.com was recently created. The exact creation date is marked 2nd November 2018. With just a few months in operation, they have started getting complaints from members. And this is an indication of things to come with the platform. Stay away from this ridiculous trading platform or else risk losing every penny. These are offshore brokers who have nothing else to do than steal from unsuspecting investors.

License and Registration of Forex Birds

Forex Birds is throwing prying eyes away by posting false registration details. They have posted random numbers to act as their registration details. Scam brokers use such tactics as they know members don’t bother confirming license details. A true and genuine broker will post license number accompanied with copies of their certificates. It will give everyone the chance to validate the broker’s compliance.

A look at the regulator in the UK reveals no such platform exists. The Financial Conduct Authority has no broker licensed under this name. Other regulators in Europe plan to issue an alert over Forex birds. These are offshore brokers who are planning to steal from investors. Members should not expect any compensation from the platform when bankruptcy or insolvency occurs.

Pros/Cons of Forex Birds

Account Details

Forex Birds Account Types

Forex Birds is furnishing users with four account types to choose from. The accounts listed include ECN, Standard, Premium, and Prime. Minimum deposit for the basic account type, ECN, is set at $100. Scam brokers will go for a low minimum deposit to attract newbie investors. The industry has set $250 as the acceptable minimum deposit price. These accounts share the same features such as zero commissions and spreads from 2.1 pips. Nothing is special about these account types.

Bonus Offered

The broker is offering a 25 percent tradable bonus on their platform. After receiving the bonus, the broker will insist to be paid back by matching the bonus offered. With accounts having enough balance to offset the bonus, the broker insists on a new deposit. And this has led to most investors complaining of the harsh conditions set by such brokers. It is why the regulators plan to ban the use of bonuses in the future.

Contact and Support

Forex Birds is using a number of communication channels including emails, phone numbers, and Whatsapp. The problem with sending offshore brokers an email is the response time. Such brokers may decide to ignore your email if it is about withdrawing funds. The phone numbers listed are virtual phone numbers which are ever busy. After going through, the agent will want you to hold as they transfer you to another broker. And this is what makes trading with offshore brokers a ride to hell.

Deposit and Withdrawals

Account funding options include Bank Transfers, MasterCard, Neteller, Skrill, Visa, and others. Often the broker will send an email with details on which bank account number to send deposits. The problem with ForexBirds is withdrawing funds. None of the members have been able to withdraw funds for the entire year. And this changes what the broker calls a trading platform to an online investment scam.

Trading Platform

ForexBirds is claiming to use MT4 as their preferred tool of trade. These scam brokers are actually using a custom made platform. They have used the name MT4 on their homepage to gain trust by investors. Offshore brokers will make it appear that they have the best tools for trading. The problem starts when during trading sessions; execution speed slows down for no reason. And this is proof they are using an unstable platform which has not passed strict trading conditions.

Safety of funds with Forex Birds

With the broker offering an unstable platform, hackers will want to attack it. The website lacks proper protection software which prevents third party attacks. These include DDoS protection and SSL encryption software which is missing. Members are depositing funds straight to owner’s bank account. And this is why recovering funds is next to impossible.

Scam or Legit Forex Birds

Forex Birds Deposit and Withdrawal

Evidence clearly points to Forex Birds being another online scam trading platform. Watch out for their promotional materials which will direct you to signing up. Mark any of their promotional emails as spam and don’t sign up with their affiliate programs. Warn your family and friends from joining the contest on the website.

Bottom Line

Adding the broker to our scam blacklist will ensure no one else falls for their trap. Our readers now know the risks involved when using ForexBirds.

Stay away and use recommended trading experts who are safe and secure. Continue reading our reviews for more on online trading products and services.

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