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ForTraders Review: Fortraders.io Crude Forex Scam

ForTraders Review: Fortraders.io Crude Forex Scam

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ForTraders (Fortraders.io) is another rotten CFDs, Crypto Currency, and Forex scam platform out to cause havoc. For Traders is claiming to offer a secure, trusted, and reliable trading platform. At first glance, it is easy to believe everything this scam website is selling. Members have already started shouting for help after having their accounts closed for no reason. What’s happening? Read this genuine and honest FORTRADERS Review for more details.

ForTraders Review

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ForTraders Review

After receiving complaints from members of this website, we knew trouble was brewing. How can over twenty members be complaining of the same issue? What seems to be a genuine platform is turning out to be a total sham. Investors who signed up believed they would make profits with For Traders. Thanks to our years of trading experience, we know how to spot a scam from a mile away.

Details have been coming out in regards to how users suddenly get their accounts blocked. These are users who had sent out a withdrawal request to the broker. With this information, we established a pattern by these scammers to steal from investors. Members who have more than $1,000 and demand a withdrawal get their accounts frozen. To help protect other investors, we will expose the dirty tricks used by these scam artists. Read this detailed review and get to know some of the trickery used by scam artists.

About ForTraders

ForTraders is simply another offshore based platform targeting investors from all over the world. Not much is known regarding the actual owners of this website which is our first concern. Stay away from any platform which is anonymous and offshore based. EZ2GO Ltd is the company which claims to be the owner of this website. Company register has no company licensed with this name.

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Another disturbing feature with this platform is claiming to be based in Switzerland. Scam artists will do or say anything to ensure their platform appears legit. In this case, For Traders is selling the idea they are based in the EU region. What investors don’t know is ForTraders is another anonymous online trading platform. Who are the founding members of this platform? Why can’t we get the names of people who actually run the show? With any scam platform, owners want to hide their real names for fear of being exposed.

Is ForTraders licensed or registered?

With claims of being based in Switzerland, you would expect the authorities to license them. The Swiss Financial Market Supervisory Authority (FINMA) does not have any platform licensed under this name. What this proves is that ForTraders is operating without a valid trading license which is uncalled for.  Recommended brokers are licensed by ASIC, CONSOB, CySEC, FCA, NFA, and SEC. Be on the lookout for shoddy platforms who use fake license details.

Why has the platform failed to post their license and regulation details on the homepage? One would expect the license and registration number be posted for all to see. A real platform will have license number matching copies of their registration certificates. What you need to do is stay away from these scam artists and sign up with recommended brokers. For Traders will never keep your funds safe.

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Advantages of ForTraders

After a thorough search of their entire website, we could not find any advantage of dealing with this platform. How can there be an advantage of dealing with a broker who is anonymous? Did you know the contact details posted are fake and only the email works? When it comes to the phone number listed, it has a UK Code. What this means is we are dealing with a scam which is using virtual phone number. Why have they failed to give users a real contact detail?

Disadvantages of ForTraders

Accounts offered

ForTraders Account Types

ForTraders is furnishing users with four different account types to choose from. Accounts are listed as Basic, Bronze, Silver, and Gold. What we noticed with the accounts is lack of appropriate information regarding the features. Another disturbing feature with the account types is having senior analyst who are never available. One victim chose the Gold account hoping to get help from a senior analyst.

Deposit and withdrawal

What we have gathered so far is the platform advocates for bank wire transfer. The number given to investors to deposit is synonymous to a personal account number. It means investors are depositing funds straight to owner’s bank account. Another problem with this platform is how insane the withdrawal process becomes. Victims have been asking for withdrawals for almost a year. Lack of withdrawal is concrete proof we are dealing with seasoned online scam artists. Be wary of For Traders and any of their affiliate programs.

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No Demo account

Another huge problem with this platform is having no demo account. Smart investors start with using a demo account to give them an idea of what to expect.  What this means is we are dealing with a scam which knowingly thrives on unsuspecting investors. Investors are signing up blindly not knowing what the platform does.

Trading platform

ForTraders is professing to have two types of trading platforms. Activ8 and MT4 trading platforms are available on For Traders’ platform. We have a huge problem with their Activ8 platform which seems to be unstable. Looking closely at their website, we understand why there is such vulnerability. Without a proper security feature in place, stability becomes a huge problem. There’s no DDoS Protection and SSL Encryption on their entire website making the platforms unstable.

Are funds safe with ForTraders?

How can funds be safe with a platform which is highly unstable? Hackers can easily gain access to their platform and steal vital information. Credit card and personal information details are what hackers go after with unstable platforms. Segregation of accounts is also another huge challenge as ForTraders is pooling funds in one account. Users should not expect any compensation as the platform is not under any compensation scheme.

Is ForTraders a scam?

ForTraders Trading Platform

Evidence clearly points to this platform offering shoddy trading features. We have no other option but to state that ForTraders is a scam which must be exposed. Stay away from this or any of their affiliate programs such as bonuses. We have reason to believe For Traders is selling personal data to third parties.

Bottom line

What we have to do to protect our readers is blacklist this platform. Stay away from ForTraders.

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Wishing all investors a safe trading experience.

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One Reply to “ForTraders Review: Fortraders.io Crude Forex Scam”

  1. Anche io sono stato truffato da questo sito. Sono stato contattato e ho depositato 180 Euro. Ho iniziato il trading, nel corso del quale mi veniva sempre richiesto un ulteriore deposito che ho fatto.
    Ho cominciato a guadagnare e all’improvviso ho visto scendere, nel giro di 3 giorni, il mio ammontare da 7.157 a 2.299. A quel punto ho deciso di chiudere. Nel momento in cui ho richiesto i soldi accumulati, mi è stato chiesto di versare la somma di E. 421,00 a fronte del 26% sul guadagno netto quakle ta**a da versare allo stato Inglese.
    Fatto stà che ad oggi non ho ricevuto alcun bonifico sulla mia carta e questi signori si sono impossessati oltre dell’ammontare del mio guadagno anche le somme da me versate. Il mio interlocutore ha detto di chiamarsi Scott Gold. Immaggino nome di fantasia.
    Comunque diffidate da questi elementi.
    Max

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