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ForexSP is an offshore broker that was anonymously introduced to the market. Nevertheless, they still claim to be the leading platform.
The company allegedly has more than 10 years’ experience in forex trading. The investment firm plans to make trading easy and safe how they plan to do this is our main concern.
Therefore in the quest to find out if forexsp.com is a recommended investment firm. There are tried and tested forex brokers that will generate reasonable profits.
Transparency is what most expert investors look for before depositing a single coin in any platform. ForexSP misses a lot of relevant data and an expert within the same niche will immediately see the red flags they portray.
Traders’ details are safely secured in SSL certified software and the customer data is secured 100%. The company expects traders to believe all their data is safe yet they are anonymous to you.
No information on the founders or team behind the firm is available and you should not share any details either. Your personal information may end up in the wrong hands or even with criminals.
There are no hidden fees and they believe in fair business and all charges are made known to you before any transactions. ForexSP allows both commodities and forex trading all in one platform and traders can easily organize trades on a single dashboard.
Scammers showcase a lot of traits that are visible in forexsp.com. They brag 10 years of experience with no past trade history to support the speculated return estimations.
There is also no positive feedback showing traders are benefiting from the company. Meanwhile, they claim to have more than 27 expert advisors yet there is no visible evidence to show you are dealing with experts.
Forexsp.com available address shows they are located in India yet they still urge you they operate with UK laws. ForexSP parent company is SpotfxIT Solution ltd and during our research, there is no relation between the two companies.
They have a demo account that you can familiarize yourself with the company and experience risk free trading. Moreover, the risk measures that are in place to minimize losses is not well elaborated. With 10 years of experience, they should have past trade history for a couple of months.
Numbers do not lie and if ForexSP was generating the alleged returns the traffic on the website ought to be higher. The demo account has a starting amount of $10000 and while trading you can make up to 30%.
The kind of algorithm and systems that are in use is not well explained and raises a lot of questions. Forexsp.com investors get to trade every day with coaching and 1v1 training with the alleged experts.
The use of legit fund managers will yield positive results on your investment. However, trusting vice versa will generate unwanted losses.
There is no guarantee that you are dealing with professionals while trading with ForexSP. It promises an opportunity for you to learn market analysis though they do not show any training tools on their websites.
ForexSP allegedly has 20000 customers and your details are never shared with any third party. The security measures that are in place are not known and also that of your funds.
There is no guarantee your money is safe and no banking data is available. Banking details should always be revealed to investors as this helps in earning your trust with the firm.
Trading involves taking risks hence you may face losses or attain profits. Therefore without knowing the kind of measures that are in place to curb losses your funds are not safe with ForexSP.
There is no info on the founders and the kind of qualification the team has is also not known. You risk dealing with unregulated brokers and the result on your funds may be alarming.
No customer is seen to successfully withdraw funds or profit from any of their services. Transparency plays a major role in earning your trust and it proves you are dealing with honest people.
Forexsp.com exposes a lot of murkiness which should serve as warning signs not to waste a single coin. The kind of algorithm and systems that are in use is also not known.
ForexSP tries to prove its transparency by using fake happy customers. However, the people whose names have been used do not even know of the company’s existence.
Similar traits are common among scammers and they should show evidence of the same through past trade history. There is also no positive feedback for forexsp.com for us to recommend any of their services.
Moreover, they do not have any information on the founders and yet you trust the testimonies. It is a common character among Ponzi schemes the use of made-up names to try and seem legit.
ForexSP just like any other Ponzi Scheme uses attractive plans to try and lure traders into depositing money. There are three accounts to choose from; Silver account minimum trade amount is $100 while the maximum is $1999. You get to trade 4pips on the tight spread with education and a dedicated team.
Gold Account’s maximum tradable figure is $4999 with 3 pips and similar advantages as the first plan. Diamond Account trades begin from $5000 and above with 2 pips on tight spreads. The only difference is you get professional assistance and trading signals are allowed.
With no trading strategy, the plans might not be profiting. Massive details are missing on the sales pitch and there are no security measures that have been outlined.
The location address on the website is Times Square, Unit 1, Level 2, B Wing, Mumbai, Maharashtra 400059. This address is definitely made up and does not seem legit. They then further brag about being a UK entity and they claim to be registered under company number 11463155.
The FCA is the main regulatory body in the UK and they do not have any information on ForexSP. Regulated forex brokers show a high level of transparency and you can easily find all the verifiable data.
The problem with unregulated offshore brokers is they break the rules when they want. Also, they do not last for long in the market and the anonymous founders are at risk of facing criminal prosecution for operating against the law.
Different countries have set up various measures to protect their citizens from scammers. Therefore in most countries, for any platform to generate funds from the public regular measures need to be followed.
Customers can reach the platform for queries or anything related to the company via email [email protected] and telephone contact +9102268175700. However, our main concern is if there is going to be any response.
ForexSP is a shady investment firm that we would not recommend you to deposit a single coin. You will only be making the company owners rich and once you deposit funds with scammers your business with them is done.
There are legit forex brokers that will protect you from facing massive losses. While generating reasonable returns on your investments. The trading system and algorithm that forexsp.com applies is left unknown.
You should invest with companies that are transparent with their methods of operation. The fraudsters’ information plays a major role in knowing the kind of qualification the team holds.
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