TusarFX (Tusarfx.com) is another Forex scam platform causing havoc in the trading world. Tusar FX is purporting to be an international Forex broker who aids in successful trading experiences. Is TusarFX telling the truth? After receiving numerous email complaints, we decided to investigate this broker. What we found out with this broker is shocking to say the least. Read this detailed and honest TUSARFX Review and find out the truth.
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After landing on their homepage, we immediately spot some discrepancies with their website. To begin with, their website lacks proper security measures. How can a broker offering trading services fail to properly secure their website? Dealing with such brokers is uncalled for and investors should be wary. It means Tusar FX is opening up users to third party attacks, mainly from hackers. Stay away from a platform which lacks proper security features and fake details.
Another shocking detail we found with this broker is professing to be a recognized broker. After asking around, no one has ever heard of this platform. Scam artists will use empty claims and promises to try and entice users to sign up. Make sure to stay away from this broker as they are a proven scam.
According to information we gathered, this platform is owned by TusarFX Ltd. TusarFX Ltd is claiming to be registered in St. Kitts and Nevis. It means we are dealing with an offshore broker which is a huge risk. Stay away from any broker with such characteristics. Offshore brokers will do or say anything to make their platforms appear legit. And this is what TusarFX is doing with their lame platform.
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Who are the founding members of this platform? Why can’t we get actual names of people running this website? Who is the CEO or CFO of TusarFX Ltd? Lack of this vital information is proof we are dealing with an anonymous broker. Stay away from this broker and sign up with industry certified brokers. After checking with various company registrars, no name popped up with their credentials.
After checking with a few regulatory bodies, we can confirm Tusar FX is not licensed or registered. Anyone who signs up is dealing with a rogue entity. Stay away from this broker as users are crying foul with this broker. Dealing with such brokers is tantamount to throwing money to the wind. Dealing with unlicensed entities will lead to more harm than good. Stay away from unlicensed brokers who have no credibility or trading license. What else is off with their licensing and registration?
Why don’t they post their copies of their licensing and registration certificates? A true broker will post copies of their licensing in order to show authenticity. After reaching out to international regulatory bodies, no results popped up. Some of the regulatory bodies we encountered include ASIC, CySEC, FCA, and NFA. All these regulatory bodies have never heard of this platform. Tusar FX is not licensed and should be avoided at all costs. Stay away!
TusarFX is furnishing users with four different account types to choose from. Account types include Premium, Standard, Light, and Advanced. What we found odd with these accounts is promotional bonuses. Users are asked to deposit more funds in order to get 50% and 20% promotional bonuses. Before withdrawing funds, users are required to pay back these bonuses. Why issue a bonus and later ask for it?
Another disturbing issue we found with Tusar FX is rigging their demo account. A rigged demo account will open up users to false results. Professional scam artists will rig a demo account in order to falsify trading results. If you haven’t noticed, their demo account produces over 95% successful trades. In all honesty, this is simply never going to happen in any market. Prices are always volatile which means getting these high profit margins is next to impossible. Stay away!
Remember, a demo account uses virtual money which is not real. Dealing with this broker will leave users lacking a lot more than just funds. After getting over 95% successful trades, users will want to open a real account. Stay away from these scam artists as they are simply trying to use false information. Tusar FX is using a rigged demo account to falsify trading results.
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Another perturbing issue we found with this platform is having an unstable platform. Tusar FX is claiming to have a one of a kind MT4 trading platform. After going through their trading platform using their demo account, we noticed a few errors. How can a broker fail to secure their trading platform? Downloading their platform proved futile as it stalled at around 34%. It means users are dealing with an unstable platform. Stay away from this platform at once.
An unstable platform is easy prey for hackers. Hackers will steal credit card information by attacking unstable platforms. After all, these platforms lack proper security measures making them weak. TusarFX won’t be the first platform which trades using unstable platforms. Dealing with unstable platforms leads to more misery. Why would they provide an unstable platform, unless they are in league with these hackers! Personal data is a commodity which is going for sale.
How can funds be safe from a broker who lacks proper licensing credentials? Where do they bank funds deposited by members? Stay away from this broker and sign up with industry accredited and backed brokers. Did you know investors are depositing funds straight to owner’s personal bank account? Yes, investors are funding an unknown third party making Tusar FX an illicit platform
Segregation of accounts is not possible with this broker. Dealing with such a broker is highly contagious and ill-conceived. Tusar FX fails to insure funds deposited by members as stipulated by law. Never expect any compensation in case insolvency occurs. After all, this broker is closing accounts without refunding members. For all we know, this could be a money laundering website. Stay away!
Evidence clearly points out we are dealing with a certified scam group. Make sure to mark their emails as spam to avoid any harassment by their marketing team.
Adding this broker to our scam blacklist will help protect our readers.
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Wishing all traders a successful trading experience.
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