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TaureneFX (Taurenefx.vip) is an abysmal Crypto Currency broker who’s trying to steal funds from unsuspecting online investors. Taurene FX is claiming to be located in the U.K which is a total lie. Dealing with anonymous brokers will most likely end up in a long battle over withdrawal of funds. After receiving numerous email complaints from members, we decided to investigate. Read this detailed and honest TURENEFX review for more details.
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Most members are crying foul over what they claim to be a ruthless support team. Before signing up, everything seemed rosy as users were enticed to sign up. By receiving numerous calls from their agents, it seems TaureneFX was the real deal. After signing up and depositing funds, members could not hear from this broker again. As it turns out, some accounts were closed which was odd. Why would a broker close accounts while funds were still in them? Read on to find out more.
Why are investors falling for this scam? Newbie investors fall for these traps for a number of reasons. As a rule of thumb, make sure to be conducting a thorough investigation before signing up with any broker. Online investment platforms are at times a risky affair especially if not properly researched. Dealing with this broker is going to be a ride straight from hell. Make sure to go for brokers who have been tested and trusted by the trading community. TaureneFX is a scam.
CFSUM Ltd is the mother company claiming to own this company. CFSUM LTD is not registered anywhere on the face of the planet. We confirmed this after looking at various company registrars. What seems to be a Crypto Currency brokerage site is turning out to be a big scam platform. Other notable red flags include level of anonymity with this broker. Who are the founding members of this platform? Can we get names of people running the affairs of this website?
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Lack of these vital details is proof we are dealing with a shoddy broker. Anonymity is a dangerous tool to have especially now with hackers being around. Make sure to stay away from brokers who have been cited as scam artists by trading experts. Reading reviews is a good way of ensuring newbie traders know what they are getting into. CFSUM Ltd is based in Marshall Islands meaning they are offshore brokers. Offshore brokers are notorious for breaking industry regulations and rules, stay away!
Being an anonymous broker, having a license is out of the question. TaureneFX is not licensed or registered by any known regulatory body. In order to confirm their status, we checked with known regulatory bodies. Some of the regulatory bodies we looked at include ASIC, CySEC, FCA, and NFA. None of these international regulatory bodies have any indication of ever licensing Taurene FX. Make sure to stay away from unauthorized brokers for safety reasons.
Why have they failed to post any licensing number on their homepage? Another perturbing issue with this platform is lack of proper credentials. A true broker will post copies of their licensing certificates to try and prove legitimacy. Why have they failed to post any documents on their legal page? Something is off with this broker making them totally untrustworthy. Stay away from this platform or become their next victim. Members are ruing after signing up with this broker.
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As we said earlier, TaureneFX is claiming to offer an unmatched trading experience. After receiving calls, members are promised a personal broker who they claim is an expert. In order to get a personal broker, users must deposit a certain amount of money. Personal brokers are used as a decoy to try and make this platform appear professional. What these personal brokers do is constantly call you and ask for more deposits. Why can’t they help with the trading process?
Juliet claims she would be called twice a day by her personal broker. She was asked to deposit more funds so as to earn a huge profit margin. Trusting her funds with her personal manager has led her to lose over $5,000. After trying to contact her personal manager, her calls went unanswered for a while. Later, she tried to log in to her account only to find out it had been closed. With no explanation given, it seems Juliet was another victim of this crude and vicious broker.
Sadly, we believe this is an arena for identity theft. Why would a broker ask for details concerning bank account statements? Why would they require two copies of your ID and driving license? Professional scam artists will ask unsuspecting members of the public for their identity documents for one reason. They want to use these documents for other illegal activities such as creating new personas. It seems TaureneFX is in league with hackers to steal personal data.
TaureneFX is asking for bank wire transfers which are untraceable. It means once you send money, tracing the funds becomes next to impossible. Dealing with such brokers is what makes trading with an unlicensed entity a risky affair. After depositing funds, this is the last you will hear from these scam artists. Make sure to ignore all their calls to fund any of the accounts. We are dealing with a certified professional scam outfit.
A huge problem with unlicensed brokers is security of funds. How can funds be secure from a broker who is anonymous? Make sure to stay away from these brokers for obvious reasons. Is it true they offer protection against DDoS attacks? How can a broker offering trading services fail to secure their website? Lack of proper security measures is proof funds are not secure.
Another troubling issue we found with this broker is in regards to segregation of accounts. It seems TaureneFX is merging assets in one account which is not legal. According to Forex laws, pooling funds in one account is unlawful. In case this broker faces insolvency, all assets will be lost. TaureneFX is not insuring funds as stipulated by trading laws. In case of bankruptcy, members should not expect any compensation from this broker. Stay away from Taurene FX.
After looking over evidence we have, proof is overwhelming, TaureneFX is a scam. Make sure to avoid this broker by ignoring any of their marketing tactics. Mark all their emails as spam and don’t believe any videos sent.
In order to protect our readers, we are adding this broker to our scam blacklist. Protecting our readers is our duty and we have to do so. Stay clear of this illicit platform.
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Wishing all investors a safe trading experience in any market.
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