A lot has been said about this managed account service provider, here’s the full Forex92 (Forex92.com) review. What most traders want to know is whether this platform is legit or a faulty service provider. From what we have gathered, there is a lot to say about Ahmed Usman and his team. What most users don’t know is that this is probably a cloned platform. There is a legit fund management company that goes under a similar name. Don’t confuse Forex 92 with Forex92 Ltd.
The developer of Forex92.com is a cheeky fellow who thought they would get away with it. They searched for a company that is licensed and has no website information. With such company information, it would be easy to steal clients using an online platform. So they went ahead and created a website with the legit company’s license details. And this is why some traders are not able to get their full money back. The real platform does not have a website and only works on site.
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Forex92 is what has been ailing the online trading community. They have even hired other websites to sell their services. Other sites must not have spotted the error with their registration details. And so, they have been marketing a cloned website all this time. We can only imagine what the real company is going through.
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Upon landing on their homepage, it is easy to see why users would sign up. They have created a well-designed website that is close to perfection. The only visible problem is the fact that they have added screenshots. One can see that they have photo-shopped their names on these offices. A closer look will confirm that the company logo on the images has been photo-shopped. And this is what makes this website a scam. They have no such offices, which means the entire platform is a scam.
Ahmed Usman is the person who registered the website. What is weird is that we could not find even a picture of this developer. Traders in the UK have never heard of such a platform. Another company register shows that Usman Ahmed hails from Pakistan. A Pakistani national with a forex managed account business in the UK is not hard to find, right? And this is what makes trading with such a platform a disaster. There is no way of knowing the actual people behind this platform.
Domain checkers help us determine the background and history of the website. Thanks to this search, we decided that the site went live on 26th January 2017. What is a significant problem with their account is the constant IP changes. There have been over nine changes over the last ten years. What has been happening in the previous ten years? It seems that the site has been changing ownership. And this means that Ahmed is the new owner and is now selling a different product.
They claim to be a forex managed account service provider relying on fundamental/technical analysis strategy. They claim that their trading strategy is based on price action and volume spread analysis. Other notable features include low risk level. They claim to avoid low-risk financial instruments such as CFDs, Gold, and Oil.
Forex92 is NOT licensed or registered despite their claims of having compliance. They are using another company’s information as their own. A look at CySEC and FCA register shows that there is no platform licensed under this name. We conducted a search using the regulator’s homepage and could not find any results. Even the real trading company is not under CySEC or the FCA. And this goes to show the extent to which these scam artists will go to defraud investors.
With the platform lacking any valid credentials, it is safe to assume this is a cloned website. To try and sell their platform, they have hired other review sites to post positive comments. The problem with all these reviews is that there is no validation from reliable sources. Without the two regulators confirming their license, it remains a hoax. And this is the problem with cloning a service provider. The regulator will be keen to have all details matching.
Forex92 is furnishing users with three account plans to choose from. The listed include Business, Enterprise, and Personal accounts. What is astonishing is that the minimum required deposit for the primary account is $5,000. Users are to deposit $5,000 for the personal account and expect a 20 percent monthly ROI. Business account holders deposit $10,000 and expect a 30 percent monthly ROI. The last account holder is to collect $50,000 and expect a 25 percent monthly ROI.
Business account holders must pay 30 percent of the total profit. Enterprise account holders get charged 25 percent of their monthly benefit. Personal account holders must part with 35 percent of their monthly benefit. It all seems to be a bloated expense considering that there are no actual results. They claim to offer dedicated account managers whose experience remains questionable.
A problem we spotted with their support is the security of personal information. Users have to leave their personal information to get any response. With Ahmed being a foreigner and using false details, consumers have to be careful. It could mean that Ahmed and his team are trying to steal identity information. They could be harvesting data for their benefit or promotional emails. It would have been ideal if their listed telephone number was working and an agent available 24/5.
There has been no feedback from anyone regarding this platform. The only positive feedback is from paid review posts. And this could mean that Ahmed has created social media contacts using the provided emails. He could be posting positive comments to attract investors to buy his plans. These are the valid reasons why we insist that the platform is a hoax, and no one should sign up.
With all their fancy claims, Forex92 is still failing to show any valid results. They claim to have posted results on myfxbook. These results are from other products such as Viper FX, which is a product of Forex Lens. They are also using false results from another product, which is not the one on the table. These are professional online scam artists who have gone ahead and duped even some reviewers. And this is why reading several reviews will help give you a clear example of what’s going on.
After reviewing all the facts, it is clear Forex92 is a cloned platform. They have no verified results and are using another company’s legit details. And this is the reason why we have to blacklist the use of this platform. Stay away from the platform and use industry-recommended products.
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