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MarketsCFD (Marketscfd.net) is claiming to offer over 1,000 trading assets across 4 Forex classes. Markets CFD is another unknown and unproven broker trying to sell their merchandise. These brokers have an alert already out by one of Europe’s leading regulatory bodies. Complaints were rising by the day from members who signed up with the platform. There is a lot of evidence to show why markets cfd is a scam. Read this genuine and transparent MARKETSCFD Review for more information.
The name almost looks the same as an approved broker by the name MarketCFD. The only difference is the domain name which the approved broker has marketcfd.com. Scam brokers have decided to clone the original broker’s website and use marketscfd.net. With the slightest confusion, a lot of unsuspecting investors got to sign up without noticing. And this is what the broker was after, to entice newbie investors. The review is meant to show the discrepancies on this ridiculous trading platform.
Disclaimer at the footer of their homepage claims the company which operates the broker is in Sofia, Bulgaria. Scam brokers will want to make their products appear to be EU based to attract investors from the region. If this was true, the broker should have complied with ESMA guidelines. MarketsCFD is a scam and there is nothing transparent about their trading practices. Safe trading is of utmost importance to all investors. And this is why traders need an expert to help them enjoy safe trading conditions.
There are only two assets found on this scam trading platform. CFDs and Forex are the two types of classes named by the broker. CFDs listed on the platform include commodities, indices, and stocks. Commodities listed on their CFDs page include Corn, Oil, and Wheat. Indices listed include DAX, Dow Jones, Nikkei, among others. The broker claims to offer instant leverage of x200 to members. With such attractive leverage, newbies are bound to sign up with the broker.
MarketsCFD is promising traders with stocks from leading international companies. These include Adidas, Apple. eBay, Facebook, among others. When it comes to Forex assets, the broker claims to offer over 50 pairs of currency. The leverage of Forex assets is set at x200 which is fair. Features of Forex assets on the platform include full risk management and fixed low-cost spreads. Not much information is given on the spreads available on these trading assets.
Disclaimer at the bottom of their homepage claims Swissgems Ltd runs the show. They claim the company is located in Sofia, Bulgaria. A check with the company register in the region reveals no such entity exists. These scam brokers are using a random company name to throw off prying eyes. Furthermore, they fail to disclose the names of the CEO or CFO of the company. It is clear MarketsCFD is an anonymous trading platform. Couples with the broker’s lack of credible license, traders should be wary.
A look at whois.net reveals the broker has been in operation since 2018. Whois.net shows the broker has been operating from 3rd July 2018. For nearly two years, the broker operated below the radar until things got out of hand. With members being blocked from withdrawing, complaints were lodged. Why the broker fails to get a valid license for over two years remains a mystery. It is believed these are offshore brokers who knew they can’t pass the rigorous tests required for a license.
The broker claims the company is registered and has even put up a registration number. Scam brokers will do or say anything to try and make their platforms appear legit. The Italian Financial watchdog was the first to issue a warning. CONSOB posted a warning dated 18th May regarding the use of this platform. They have barred Swissgems Ltd from operating their trading services in Italy. Other European regulators will follow suit.
MarketsCFD is a scam waiting to pounce on any investor who signs up with the platform. And this is why traders should stay away from the platform. The broker will insist on new deposits even after losing the initial deposit. Without a valid trading license, the broker remains to be a scam. Such platforms will not insure any deposits made by clients. And this puts funds at risk from the broker.
The broker is furnishing traders with six account types. Markets CFD is using Basic, Bronze, Silver, Gold, Platinum, and Black account. These accounts have almost the same features which make us question the intent of the broker. The accounts come with an account manager who is not above board. Account managers will steal funds by demanding you give up control of your account. Members will give up control, these account managers place losing trades.
Each account type comes with a welcome bonus which is another trap. The bonus starts at 30 percent which is a well-laid trap. Scam brokers will demand users to pay back these bonuses via new deposits. It doesn’t matter whether the account has enough funds to pay the bonus. Scam brokers insist on new deposits that match the bonus issued. And this is what has led to numerous complaints from members.
MarketsCFD is also offering demo accounts to traders. These demo accounts have been all along been a major problem to users. After signing up with the demo account, traders will immediately start making positive trades. Scam brokers will manipulate the outcome and this leads to investors signing up. They are led to believe the real platform will mirror the same positive results.
Account funding is made easy and the process takes less than five minutes. Depository channels listed include AstroPay, Bank Transfer, Neteller, Skrill, among others. The problem with Markets CFD is withdrawing funds. None of the members have been able to withdrawal funds for the past one year. And this is proof we are dealing with a terrible online trading platform.
MarketsCFD is using a custom made trading platform with no security features installed. And this poses a huge security risk to investors. Hackers can easily take over the platform and steal vital information. Their platform lacks DDoS protection and SSL encryption which is vital for security. Proper trading tools are also lacking making their custom-built platform unstable. And this is one of the many reasons to stay away from the platform. These are trading terminals to avoid at all costs.
With the number of complaints rising by the day, it is clear the broker is planning to shut down. A warning from CONSOB is enough to send worry to the broker as this is now a criminal entity. The broker has been using false information to mislead online investors. Stay away from the platform or else risk losing your entire deposit.
The evidence is clear, MarketsCFD is a scam that must be stopped at all costs. These brokers are stealing from online investors. The trend must stop as more and more victims come out. CONSOB issuing a warning is proof of the broker’s indecent approach to offering trading services. Stay away from the platform and warn your family and friends from joining it. Mark any of their emails as spam and don’t accept calls from their call agents. Signing up with the broker is throwing money to the wind.
To protect our readers, we have to add MarketsCFD to our scam blacklist. Use industry-approved brokers to get a head start with online trading. It is the only safe and true way to trade online.
Wishing all traders the very best.
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