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The Standard FX (Standardfx.org) review is as a result of complaints from members of the platform. It is a forex managed account provider that offers nothing but a shoddy trading platform. They have been in the news of late with complaints of not living up to their claims. And this is evident with the high number of complaints we have received from investors. StandardFX is, without a doubt, another platform to ignore when looking for forex managed accounts. Get to know all the facts of the platform in our post.
They claim that their vision is to become one of the top recognized companies in the forex business. The reputation of a platform heavily depends on the review of members. And most of them are up in arms over what they term as illegal trading purposes. These members are unhappy with the fact that the platform was unable to deliver on its promise. The problem is that the platform is not sure what they are all about. Although they claim to offer forex managed accounts, they are also in the business of selling Cryptos.
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Standard FX is a platform that only has a well-designed website. It is the only useful feature that we see with the service provider. After landing on their homepage, users are greeted with a 20 percent guaranteed weekly profit. Now, this is a bold statement coming from a platform that is not recognized. And this is what they have used to entice naïve investors into signing up with the platform. It is why we insist that this is a bogus trading platform, and no one should sign up. All their claims and unfounded, and no proof of concept is available.
On their homepage, they claim to offer signals on Binary, Crypto, and Forex. What they fail to mention is how the platform can achieve this fete. They claim to have a long-standing experience in online trading, which is not entirely true. These scam artists have up until recently been working behind the curtains. It is how we started learning about the problems investors are facing with this platform. And this is why our post will reveal the red flags we spotted with the platform.
They remain silent on who the actual business owner of this platform is. And this poses a massive problem as we expected more from the platform. Investors should be able to know who they are giving their money to. Scam developers will create an appealing website and fool investors into funding the platform. It is what’s happening with this forex managed account provider. The platform is anonymous, as no one knows who is behind the platform. Anonymous online investment platforms are a no go zone.
Standard FX is NOT Licensed to offer any trading services to investors. They have been in the trading world for two years and still could not provide a license. We could not decipher why a platform would go for years without having a trading license. It is their prerogative to inform users that they lack a valid trading license. It is another reason why we believe funds are at risk with this platform. With no trading license, it means the platform is unable to provide insurance cover for the deposits.
Another reason to stay away from the platform is taking advantage of their lack of license. They offer unrealistic expectations which regulators are against. A platform is only able to provide claims and promises that are tangible. The hope of achieving a guaranteed ROI of 20 percent is unheard of. These are scam artists who plan to take advantage of investors who sign up. It is the reason why we have to flag down the platform as a scam. Stay away from this platform or else risk losing the entire money deposited with the platform.
The full details of the scam started coming out as investors noticed the errors within the platform. After giving the platform complete account information, investors expected to make a killing. The projected 20 percent guaranteed profit margin was enough to move some investors to deposit over $10,000. Days after they realized that the platform was unable to offer such an ROI, they turned to social media.
A look at their domain information shows that the site is not as reputable as they claim. They have only been in the industry for less than two years. Records show that the site went live on 28th June 2018. It means they are barely two and a half years old in the trading world. And this is what makes us detest the use of such platforms. Scam developers throw off investors by claiming to have a robust online presence.
Both their strategy and price remain undisclosed, which is a cause for concern. The platform should, at all times, give full information on their cost and the strategy used. Failure to provide this information means they take advantage of naïve investors. They only post images of their results, which is proof of their lack of imagination. It is best to stay away as we will continue to expose their dirty tricks.
Standard FX is failing to provide information on their account plans. They also fail to disclose the minimum acceptable price with the platform. And this is a reason why we insist that the platform plans to take advantage of investors. They will make sure that no investors deposit more money than required with the platform. And they do so hoping to squeeze as many funds as possible with the platform. It is why investors sign up with this account as they will, at times, demand over the moon prices.
It is evident that the platform does not offer a live chat support team. With today’s demand, a site should be able to respond to queries promptly. The reason why no one can communicate with the platform is that the owners control communication. They are afraid of the blowback they would receive from investors and victims. On their contact page, they provide a phone number whose code is from Abuja, Nigeria. It is proof that people with no trading experience operate the site.
Images are not the way to verify results with a trading platform. These are apparent tactics to fool investors into believing the platform can achieve their target. They should have signed up with FX Blue or myfxbook and provide links to these results. The platform is also at fault for failing to give information on the strategy used. A trading platform should provide users with the methodology used to arrive at signals.
Standard FX is a blatant scam that must be exposed by all means necessary. The truth of the matter is that the platform is unable to provide legit services. They fail to have a valid license or the backing of a regulatory body. It is proof we need to mark the platform as a fraud. Investors should be on the lookout for such scams that offer insane profit expectations.
Stay away from the site or else become another victim. To protect our esteemed readers, we will be adding the platform to our scam blacklist.
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