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FXBrokertm Review: Fxbrokerstm.com Another Forex Scam

FXBrokertm Review: Fxbrokerstm.com Another Forex Scam

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FXBrokertm (Fxbrokerstm.com) is a broker with an alert out from the International Financial Services Commission of Belize (IFSC). FX Broker TM is claiming to offer seamless trading services to any investor wanting to join. FXBroker TM is another scam broker who is targeting American and the European market. These scam brokers are stealing company information from other legit companies and using them as their own. With the truth already out, read this genuine and honest FXBROKERTM Review for more details.

FXBrokertm Review

About FXBrokertm

According to the disclaimer at the footer of their homepage, they claim the broker offers a number of services. These include Binary Options, CFDs, and Cryptocurrencies. Apart from this statement, they go ahead and claim to be regulated by official regulatory bodies. The claims of being regulated by CFTC, CySEC, FCA, and IFSC are false. None of the bodies has issued the broker with a trading license. Why would they offer a non-existing broker with a trading license?

Scam brokers will do or say anything to try and make their platforms appear legit. And this is why traders need to be extra careful. Using approved and genuine brokers is the only true way of trading safely. FXBrokertm is a false broker looking to steal from unsuspecting American and European Investors. Their sign up process also involves data harvesting which they sell to third parties. And we have a few more reasons why trading with this broker is going to be disastrous.

Assets with FXBrokertm

They claim to offer Forex trading assets but fail to give full details. An excellent example is claiming to offer Binary options to traders. The whole website has no information regarding binary trading apart from being an asset available on the platform. Commodities listed include Crude oil Bent, Gold, Platinum, and Wheat. Cryptos available on the platform include Bitcoin, Bitcoin Cash, Dash, Etherium and Litecoin. And there is a typo with their Litecoin asset, just mentioning.

Other assets include Forex pairs such as EURUSD, GBPUSD, USDCAD, AUSUSD, and USDJPY. These scam brokers fail to mention the acceptable minimum deposit with the assets available. Another important missing feature is the leverage and spread available with the Forex pairs. Stock assets listed include Micron Technology, Morgan Stanley, Microsoft, JC Penny, and Petroleo Brasileiro. They also fail to mention the features available with the stock assets which is unfair to members.

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Business Owner

Richfield Capital Limited is the company quoted as the owner of the platform. The company is well recognized but has no affiliation with the broker. These scam brokers are using the company’s legit image to associate with the platform. And this is why there is no name of the founding members of the platform. If the broker was successful, they would have posted founding and staff members name. What remains to be seen is FXBrokertm is an anonymous online trading platform.

Domain Details

According to the trusted domain register whois.net, their website is THREE months old. Records show the domain fxbrokerstm.com was created on 10th November 2019. These scam brokers have been cheating their way into the trading spotlight. By using a legit company’s information, they have managed to fool investors into depositing with them. And this is another reason why we should stay away from the broker. These scam brokers have nothing else to do than steal from unsuspecting investors.

License and Registration of FXBrokertm

FXBrokertm IFSC Warning Regulator

FXBrokertm is NOT LICENSED OR REGULATED to offer any trading services. A warning has been issued by the very regulator they claim to get a license from. The International Financial Services Commission (IFSC) has a warning out. Other notable regulators claim to be on the verge of issuing their own warning. These scam brokers are posting false license details on their website. Take a look at the bottom of their homepage; they have posted a false license number.

Scam brokers will post random numbers to act as their registration details. Thanks to their false claims, the regulators have posted a warning regarding the broker. Richfield Capital Limited will post a press briefing on the dangers of using this broker. Without a valid trading license, anyone who deposits funds will lose them. The broker is not insuring funds as dictated by trading regulations. And this is why everyone should stay away from the platform since it is a fraud.

Restrictions of FXBrokertm

Account Details

FXBrokertm is not clear on the accounts available for their members. Most members claim to have been given a personal account manager who operates their accounts. Does this mean they offer PAMM accounts? These brokers have no account feature information which is a huge problem. No one knows the acceptable minimum deposit required to start trading. Without this vital information, traders have been depositing huge chunks of money. The industry has set $250 as the acceptable minimum required deposit for trading.

Account Managers

Any account manager on the website is a con artist who is commingling. These account managers have been hired to keep track of the depository patterns. Once they notice traders are not depositing, the call and request members to deposit. These calls are turning out to be an issue as members will be called countless times a day. The account managers have no trading experience and as such, will lose your funds. It is best to stay away from this illicit trading platform.

Contact and Customer Support

As with any other scam broker, they try and keep contact to the minimal. With FXBrokertm, contacting them is via email and phone calls. One might think that these are effective means for communication; it is far from the truth. These are one way communication systems which gives the broker a chance to ignore them. And this is why live chat support team is preferred. With calls, members are diverted to another account manager who is not their initial account managers.

Education Material

FXBrokertm Cryptocurrency Assets

FXBrokertm is offering simple and ineffective trading materials. One would expect live webinars and video tutorials to be part of the package. The broker is far from offering any real educational materials to newbies. Instead, they offer links to their sign up form which is not helpful. A real trading platform will offer legit trading materials such as eBooks to members.

Funding Accounts

When it comes to funding accounts, FXBrokertm is furnishing traders with a number of depository channels. These scam brokers want to ensure every trader has the channel available from any part of the world. The depository channels listed include Bitcoin, MasterCard, Monero, Visa, among others. Withdrawing funds still remains to be the biggest obstacle with this trading platform.

Safety of funds with FXBrokertm

FXBrokertm is not segregating accounts as dictated by trading regulations. The broker is far from using credible and dependable means to safeguard funds. Without DDoS protection and SSL encryption, the platform is far from being safe. Third parties can easily attack the website and steal vital data such as credit card information. And this would lead to member’s bank accounts being swept clean by hackers.

Scam or Legit FXBrokertm

FXBrokertm Depository Channels

FXBrokertm is a scam, there is no doubting it. With the broker using false company information, it is a worthless trading platform. A warning issued by the IFSC is proof FX Broker TM is a scam to avoid. Mark their emails as spam and never click on any links sent via promotional emails. Warn your family and friends from engaging with their so-called account managers. The broker is a scam waiting to pounce on newbie and unsuspecting investors.

Final Thought

With the platform’s activities on the open, we have to add them on our blacklist.

Stay safe and use credible brokers for a chance to make realistic profit margins.

We wish all traders all the very best in your trading experience.

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