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ForexFirst Review: Another Awry Forex Scam

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ForexFirst Review: Another Awry Forex Scam

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ForexFirst is a repeat investment scam with a different domain registry. It first started with forexfirst.biz and went to forexfirst.pw. Now they have completely changed the domain to forexfirst.co. The scam artists have kept their name, making it easy to expose their websites. They claim to make a guaranteed 2 percent hourly profit for all accounts. This scam is, however, different from others, with users allowed to open multiple accounts. Learn more in this vivid FOREX FIRST Review.

Forex First Review

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About ForexFirst

On their about us page, they claim to be a group of enthusiasts and self-taught traders. We notice that no name is given as to who these enthusiasts are. One would expect a successful platform to have a face of it.

Due to their numerous scam websites, no one wants to associate with the platform. We have reason to believe Forex First is another short-term investment scam for these traders.

The trading team claims to have started with futures and options. According to the about us page, each trader has their own strategy. Once you land on their homepage, you get the feeling that this is a professional forex platform.

Don’t easily fall for the aesthetics, as this is a way of fooling the untrained eye. Thanks to our years of reviewing and trading, we know how to spot scams from a mile away.

Members have to pay $7 for every Forex Signal they get. Continue reading this post and find out what we unearthed during our thorough investigation.

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Account opening and registration

Registering an account with the platform is easy. You need to fill in your address, contact, and full names. The only issue we have with their account opening is the verification process. Instead of sending an email link or SMS code, they ask for valuable documents.

We don’t see why the platform would ask for bank statements and credit card information. In all our years of conducting reviews, only scam artists ask for such documents. They are harvesting banking information from clients.

Attracting Referrals

ForexFirst Features

This is the second way to earn with ForexFirst, according to their FAQ page. Members get a fixed deposit for every new member they direct to the platform. Before joining their affiliate network, you should know the consequences.

With this being a forex scam, you will be an accomplice to online fraud. The platform doesn’t even pay these affiliate members. Victims will be at your throat for directing them to a forex scam.

Available investment opportunities

It seems that the platform deals with forex alone. According to their about us page, they deal with forex and options. We doubt the credibility and professionalism of the platform. No expert or robot can make an investor such a huge amount of money in a short period.

We believe that Forex First is another get-rich-quick scheme. Those who have already fallen for it are ruing the decision to sign up.

Business holder

FirstForex Limited is the private company we are told owns this platform. The contact information shows that the website resides in Scotland. Their about us page claims that they are in the United Kingdom.

With no way to show where they are, we checked their FAQ page. A question is put as to how a member can visit their offices. The company address is an empty building under construction.

Comments from users

We started receiving several complaints from users regarding the blocking of accounts. With most opening four to five accounts, they were shocked as all of them were inaccessible. Contacting the platform has been a nightmare for most.

None of them has been able to contact the owners as their calls go unanswered. This is what happened to victims of their last two scams with the same name. We urge investors to shun such platforms with over-the-moon profit claims.

Domain insights (forexfirst.co review)

As we publish this post, their website is 127 days old. The website was created on December 15, 2020. There’s no name of the registrant as it’s redacted with privacy the reason given. Their IP location is in Pennsylvania.

Another cause for concern is the number of IP changes. The website has 4 IP changes over the past 4 years. This means that they have been creating short-term websites under the same server.

ForexFirst License and Registration

Forex First License and Registration Status

Forex First is not a legally licensed forex platform and should not open its doors to the public. We did contact the Financial Conduct Authority to check their status. The FCA doesn’t have any forex platform licensed under the ForexFirst name.

We also checked with the Company House to confirm their company’s registration number. That too did not yield any fruits as there’s no Company registered under this name.

Once you head over to their terms of use page, you notice all liability falls to members. There’s no license document to show that the platform complies. It’s all a scam to create the illusion that you can make money with the platform.

Without a valid license, authorities won’t protect you from the harsh conditions. Ensure you enlist the services of a product or service recognized by authorities of industry experts.

Highlights of ForexFirst

Accounts and investment options

ForexFirst is the first platform to allow users to open multiple accounts. Don’t think that this is to help investors; it’s a well-calculated move. According to their homepage, you make a profit every hour.

The percentage is around 2 percent for every account. Minimum deposit is set at $300 and $500, respectively. Members can open as many accounts as they wish. This means the platform will benefit from more open accounts.

Contact and support

You will notice that the platform does not have a live chat tab. The only means of communication is via email. There’s a phone number that uses a bot as the answering machine.

Once you deposit funds, the platform won’t bother responding to any emails. With their address being bogus, there’s no way of reaching out. This is why you need to stay away from the platform.

Deposit and withdrawal

According to their FAQ page, the platform only allows Bitcoin depository channels. This means the platform is also a Crypto heist platform. The plan is to get as many Crypto users to deposit before closing the shop.

Withdrawing is hard enough as no one has made it this far. Claims of withdrawing each hour are false, and no recovery agent will help.

Safety of funds with ForexFirst

forexfirst.co Payment Options

There’s no safety of funds with a platform that fails to allow withdrawals. Without a valid license, funds are at the mercy of these anonymous traders. It’s best to stay away from this platform as they don’t follow any rules.

Scam or Legit Forex First

ForexFirst is a scam waiting to pounce on anyone who thinks they can get rich quickly. Please refrain from interacting with their call agents or the website.

Bottom line

After seeing what members are experiencing, we have to add the platform to our blacklist.

The safest bet when it comes to forex investment is using appropriate and proven tools. Make an informed decision and sign up with reliable forex trading robots.

Our team wishes you all the best in your forex investment journey.

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