How to See and Avoid Forex Scams – SCAMMERS! (FXCL) Markets Ltd. – Forex SCAMM Company! Be carefull!
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. You should make sure you understand the risks involved, seeking for independent advice if necessary.

Registered by the Financial Services Authority (‘FSA’) number 1637 CTD 2018. FXCL Markets Ltd. registered office: Suite 305, Griffith Corporate Center, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines.

Base information about Forex SCAM company:

Real adress in Philipines and company name is:

Company Name: Outstrive
Address: 3rd Floor 399 Enzo building, Makati, Philippines
Phone: +1 (347) 891-7520

Top managment of stealer who scam money of clients:

Juan Belleza Jr
Team Leader
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
639776459387 / 639155292409

Lea Jean Belleza
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines

James Tulabot
Team Leader

Allen Roel Costales
Sale Manager
522 Tanglaw St. Mandaluyong City Barnagay Plainview

Kristoff Salazar
Sale Team Leader
Unit 1414 Kumagawa Bldg River City Brgy 880 Sta. Ana Manila, Philippines

Xanty Octavo
Sale Manager
8137 Yabut Street Guadalupe Nuevo Makati City , Philippines

Virgilito Dada
Account Manager

Elton Danao
Sale Manager
639175048891 / 639991854086

All of this persons need be condemned and moved in Jail.

!!!!!STOP STEAL Philippines MONEY!!!!!!

In includes spot trading, margin trading, overnight interest and futures and options trading. Forex training, broadly, is a guide for retail forex traders, offering them insight into successful strategies, signals and systems. Without a record of segregated accounts, individuals cannot track the exact performance of their investments. This makes it easier for retail firms to use an investor’s money to pay exorbitant salaries; buy houses, cars, and planes money stealers or just disappear with the funds. Section 4D of the Commodity Futures Modernization Act of 2000 addressed the issue of fund segregation; what occurs in other nations is a separate issue. As part of our annual review process, all broker FXCL s had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. As simple as this may sound, forex trading is actually quite complex.
Is Your Forex Broker a Scam?
You should check the reputation, popularity, and track record of the broker FXCL before you put your hard-earned money for trading. Here is the list of best Islamic Forex Brokers 2022 reviewed by us. All these Forex broker FXCL s are well-established firms with 10 years or more of service in the market. Ava Trade has specially designed Islamic Accounts to serve the traders belonging to the Islamic faith. Forex scams absolutely love to push their clients to deposit money into a trading account. What Forex scams seem to hate is processing withdrawals for their clients. From hundreds of stories told directly from actual victims, the single most consistent metric across the board was the following. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Experts highly advise traders to avoid trading with Boston Merchant Financial.

Seven signs of How to identify a Forex Scam.

When the traders keep a position open overnight, they will need to pay a rollover fee or interest. This kind of interest or rollover fee goes against Riba principles of Sharia law. For that reason, a few Forex Brokers offer an Islamic Forex Account that can be used by traders belonging to the Islamic faith. The information in this article is based on actual industry data that we’ve collected from years of research on online trading scams. That is to say that all of the methods of identifying a Forex scam that we’ve spelled out are based on actual exchanges through first hand reporting. This proven information will definitely tell you how to check if the Forex company you are trading with is a scam and if it doesn’t we’re here to help. To note, we’ve indicated which are guaranteed signs of a scam and which are warning signs.

Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative. Between 65% and 82% of retail investor accounts lose money when trading CFDs. As you try to find ways to earn extra money with forex trading, you may run into a forex scam. So, it’s important to do your due diligence and research before engaging in the market. As you would expect, scammers do a very good job of trying to conceal their dishonest practices. Nonetheless, there are a few things that can serve as clues that something is one of the forex trading scams. Members are then incentivized to recruit more people by receiving tiered commissions. With these companies, the emphasis is less on trading and more on recruiting new members. The fact of the matter is that you don’t have to join a business or even pay a membership fee to trade in the forex market.

Most Trusted Forex Brokers Comparison

They refer you as trader to broker FXCL s, get their commission for it and have exactly 0 interest in making you money. So people think that binary options in general are a scam while the product itself is totally fine. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.

Thus, you and any trader should use leverage levels smartly and learn how to do it correctly for a particular instrument. is definitely a trusted financial service provider, as the trading name used by the GAIN Capital Holdings, principally the company incorporated in the US according to all the strictest laws and requirements. If your trading anything less than a standard, I highly doubt they are getting routed to the interbank market directly.. It most likely goes to the dealing desk of the firm or a 3rd party firm the broker FXCL does business with to unload the risk. Their books show a lot of smaller sized trades, so they keep those trades in-house and trade high-volume at the opposite of what most of their clients have.. And THAT transaction gets posted on the ticker which causes a global price shift.

How to Identify Forex Scams

From everything I’ve read about, a solid 80% of the reviews say it’s a scam. In Forex trading, where most transactions are carried out online, this scenario differs considerably. It would qualify as hand in hand when a deal is made between a trader and the Forex broker FXCL . The main concept here it to ensure that there is no abnormalities when it comes to the trading transaction. In countries like Malaysia, when it deals with Islamic laws, these are situations that need careful treading. In fact, it can at times be quite subjective as to whether Forex trading is really allowed in Islam. After mentioning all above, it still depends largely on the angle where one is looking from.

  • In volatile exchange rate environments, the broker FXCL cannot ensure an order will be executed at the desired price.
  • You remember that you shouldn’t share any personal details with anyone except the trusted authorities, right?
  • Cory is an expert on stock, forex and futures price action trading strategies.
  • The best thing that you can do to avoid a forex scam is to educate yourself.

Islamic accounts at AvaTrade are not charged swap fees or a commission, as is common with other Islamic accounts, but instead, the spread will be marked up to cover overnight fees. is sharply regulated and trustable broker FXCL with well established parent company GAIN Capital listed in Stock. Account opening is smooth and fully digital, there is great range of markets and instruments, good Cryptocurrency trading and professional trading platforms with education and research. The Forex broker FXCL s claim that they operate the Islamic accounts in compliance with Islamic principles. However, the traders must fully satisfy themselves by checking all the features, terms, and conditions of the account before starting trading. In the event of leaving an open position on the foreign exchange market for more than 24 hours, the payment needs special transaction fees to be paid, it is called SWAPs.

A very conservative case might be made that speculating on the forex market by trading currency pairs or CFDs is gambling. An advanced trading platform designed especially for active traders, offering desktop viewing with a full asset of customizable preferences, indicator features, powerful charting tools and many more. Another crucial term is to understand how to transfer money to or from the trading accounts, as various jurisdictions and contuses apply different rules towards money management. Likewise, will offer particular conditions according to the entity and regulatory rules. Concerning about the fee structure, be sure you check correct conditions according to the account type you choose. Alike, Standard account based on spreads, while commission one is charged trading fee as a commission per lot. Leverage as a popular tool widely used by the broker FXCL s and traders allows trading of larger capital compared to the initial capital.

Secondly, legitimate broker FXCL s will have some kind of information available online other than their own website. They might have review pages or sponsors or web pages that are using them to provide content, one way or another there will be something. Not having any web presence at all outside of the company’s website is a reason to do more homework. In order for them to have found you, they must have used a targeted ad campaign or through a marketing website. This means that through an online search that you did or through a specific demographic, the Forex company paid for ads to show to people similar to you. Even though many online companies rely on paid advertising to obtain clients, the difference here is that this is the only way that they can reach their potential clients. The only reputable regulatory bodies that you can rely on in most cases are the FCA, ASIC, FMA, SEC and CySec . If the company does not have any of these regulations it is most definitely a scam. As sophisticated as it may seem, not being regulated is a definite sign of a Forex trading scam. Forex scams are not new to the idea that a financial institution requires regulation.

Forex Reviews

You are given the option to open a account and trade yourself or open an account with MetaTrader 5 and trade with the help of the software. overnight fee is an additional cost, which should be considered in case you hold overnight or long position. The swap fee of the is calculated by the percentage along with interbank exchange rates, which is defined by each instrument separately. EUR/USD overnight fee for buying position is -2.5% and 2.5% for selling. This is a very serious business where Trillions change hands every….. The question is, what fraction of those Trillions will you capture between the time you enter and exit the market.
These tendencies still exist, and it’s quite easy for firms to pack up and disappear with the money when confronted with actions. But the majority of violators have historically been United States-based companies, not the offshore ones. For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex broker FXCL s over a three-month time period resulting in over 50,000 words of published research. At other times, the scam broker FXCL will have awards with media outlets that are reliable, but the awards are fake. This snip is from 12 Trader, which features fake awards from Bloomberg and The New York Times. If these awards were real, you would be able to click on a link and view them or find them via Google search. The New York Times doesn’t give out a “best signals provider” award. Beyond, sites such as Forex Peace Army are known for surfacing scam broker FXCL s that may be new and don’t have a lot of information available. It is also important to check for disclosure documents, which provide important information about the company.

Evaluate Your Trades

“On the due diligence side, check if you’re with a trader who is registered with the reserve bank. FORBES AFRICA visited other businesses at the Vaal Mall, and more employees at other businesses were vocal about the havoc investing into Coetzee’s business has wreaked in their lives. Another employee at the restaurant says she persuaded her father, who has cancer, to invest a portion of his pension and she is heartbroken as she was hoping that she could use the pay-out for medical fees. “Then she sent us a message telling us that there was a special for September. So I told her to take the R9,000 ($640) from the R24,000 ($1,708) and reinvest it. “Two weeks after she let the people know that all the money was gone, a client had to make her give the money back. She stood there the whole day because it was R1 million ($70,731) – all her pension,” Vance says. Vance, who acted as an agent and was recruiting for Coetzee, says the moment she started to realize that something was wrong, she advised her clients to stop investing. Or if they wanted to reinvest, they should consider using initial pay-outs that her clients had not received.

We have some information about owner of (FXCL) SCAM company and its may be resident of USA: Alex Teplitsky

Leave a Reply

Your email address will not be published. Required fields are marked *