MarketsFX (Marketsfx.com) is another CFDs, Crypto Currency, and Forex scam platform to hit the lucrative trading world. Markets FX is purporting to offer the most innovative way to trade and invest. As we well know, scam artists will do or say anything to make sure their platform get recognized. And this is what happening with this rogue online trading platform. Read this genuine and honest MARKETSFX Review for more details.
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After receiving numerous email complaints, we are sure MarketsFX is a scam. And this is one of the many red flags we will expose in regards to this rogue platform. Dealing with such platforms only leads to more misery. MarketsFX is professing to offer a ground-breaking experience when it comes to trading. As we will reveal on this detailed review, these are all empty claims and promises.
Why do investors fall for crappy online platforms? A majority of unsuspecting investors fall simply because of the empty claims and promises. Scam artists know for a fact we all want to make an extra buck. And what they do is create an impression they can help investors make money. In most cases, investors are promised with high and quick profit margins. All investors have to do is deposit with these platforms and start making money.
GAM Group Ltd is the company which is posted on their disclaimer as owners of this website. According to the disclaimer, this company has been registered in Sofia, Bulgaria. Scam artists who target European investors are known to post details with European decent. And this is what MarketsFX is doing with this company. Sadly, this company has also been linked with other scams. And this is one of the many red flags we will raise.
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Another issue we have with this broker is anonymity. Lack of any actual names of people running this website is a major cause for concern. Who are the founding members of this platform? Can we get the names of the people operating this website? Anonymity is a scammer’s best friend as it shields them from prosecution. A real broker will give out details regarding ownership for all to see. By doing so, this helps to reveal openness and transparency by the platform.
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By posting fake registration number, we are sure this is a scam. GAM Group Ltd is not registered by any known company registrar. We also looked at various international regulatory bodies for confirmation. Some of the institutions we contacted include COSNOB, CySEC, FCA, and SEC. None of these bodies has ever registered Markets FX to offer any trading services.
To confirm their lack of licensing status, their website lacks proper and valid documents. A real broker will post copies of their license documents for all to see. By doing this, they enable investors to confirm the license details and match them with documents. And this is what makes us question the validity of this platform. Most members signed up with this platform without checking their license status. And this puts their funds at jeopardy as no one can recover their funds.
Finding any advantage with an unlicensed entity is next to impossible. A huge problem with their trader tools such as video tutorials is inaccuracy. MarketsFX is using material used by other brokers as footage for their video tutorials. And this makes trading with unknown entities a huge problem. Any analysis used by this platform is not their own. Material used can be a week old which makes their signals inaccurate.
MarketsFX is furnishing users with three different account types to choose from. Account types include Bronze, Silver, and Gold. Account managers used are simply call agents with no trading experience. Hiring call agents has been one of the main reasons why scams flourish. Agents will act as professionals and only call you when asking for deposits. And this is why we must expose their dirty tricks.
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Account funding is made easy and fast thanks to available channels used. Some of the depository channels include Comodo, Neteller, Skrill, Visa, among others. Scam artists ensure depository channels can be accessed by any one. A huge problem still remains lack of withdrawal. Members are having a hard time trying to withdraw funds. And this is what makes trading with an anonymous platform a huge disadvantage. Anonymity ensures recovering funds is next to impossible.
Another serious issue we must raise is in relation to having an unknown trading platform. Lack of proper information regarding their preferred trading platform is a huge risk. Most brokers prefer using MT4 or MT5 trading platform. With Markets FX, there is no known platform which is a huge risk. Investors are going in blind not knowing whether they will use a stable platform. Is it a web based platform? Does their platform have the capability of using mobile and tablet devices?
For a platform claiming to offer groundbreaking services, they surely are poor at communication. You would expect a broker to offer live chat support for investors, not Markets FX. Lack of proper communication channels is what makes this a dangerous platform. Email communication is one way and it gives the broker a huge advantage. They choose which emails to respond to and in most cases, ignore emails with withdrawal request. And this is why we are against investors using this platform.
After most members went online and exposed the lack of withdrawal, it is clear funds are not safe. It is also likely investors are depositing funds straight to owner’s bank account. And this is what makes depending on an unregistered broker a problem. Segregation of accounts is also a problem as MarketsFX is pooling funds in one account. With a proven record of not allowing withdrawals, Markets FX is another scam. Ensure you stay away from this platform or else become their next victim.
Evidence clearly shows MarketsFX is a scam. What makes their platform a huge risk is operating without proper security features. A platform with no SSL Encryption is a huge risk as it opens up investors to security threats. Imagine your bank balance reading zero after hackers use your bank information to transfer funds? Markets FX will expose investors to such risks, stay away.
By adding this broker to our scam blacklist, we will be exposing their scam tactics.
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Wishing you a happy and lucrative trading experience.
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