Report Scam Services of the Online Forex Trading Market | is a BIG SCAMM WITH FAKE REGISTRATION. (FXCL) Markets Ltd. is compensated by the spread. Leverage may increase gains or losses.
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!!!!!!

We have scoured the internet to find the best alternatives to We made a call to and the call was answered very promptly. We were able to have the call answered within less than five to ten minutes. The value of investments can go up as well as down and you may receive back less than your original investment. After launching in 2019, their consumer base has become as large as 14,000+ clients. PremiumBrokers is an offshore broker that is unregulated and under the ownership of Premium Solutions, Ltd. which is located in the Marshall Islands. Also, the National Securities Market Commission of Spain has issued a warning against NetoTrade as well and the broker already has three guilty votes with the FPA Traders Court. There was a warning issued by the Financial Industry Regulatory Authority, or FINRA, in 2010 which called Panamoney out as con artists.
STForex is a Saint Vincent and the Grenadines-based broker which has been in operation since 2014. This broker has been marked as a scam and is not to be used for the facilitation of trading activities. This is the main reason I opened an account with them and I am glad that they do as they promised. I am able to open short term positions because I do not need to forex scam worry about high fees. Also, their platform has tools that are helpful in my trading activities. STForex has a limited asset range and a mediocre trading experience. No, STForex is a legit broker with offices around the world and a large number of active traders. Unfortunately, due to the large scale lack of awareness of the dangers of unregulated Forex brokers.

How to Avoid Forex Trading Scams in 2022

The platform can be downloaded and installed on nearly all desktop computers and is available for iOS and Android mobile devices from the Apple App Store and the Google Play Store. As well, traders can facilitate automated algorithmic trading via the implementation of Expert Advisors . All in all, the MT4 trading platform provided by STForex will not disappoint as it is highly capable and accommodating. At any given moment with less than perfect planning, a company can run into a situation where they require more cash on hand than they have for the cost of operations . A Forex trading company’s revenue comes entirely through accepting funds from clients. From that revenue a legitimate Forex trading company will get to keep through spreads and fees. If the company is a market maker, which is technically a legal construct, then the company will make money if clients lose money on trades. Refusal to provide a withdrawal to a customer from his or her own account is a sign of a scam. Forex companies, investment brokerages and other financial institutions are all required to provide full disclosure to clients, including honoring withdrawal requests upon receiving them. Opening a trade position without deep analysis of the market and of the pair you are trading is useless and will cause you potential losses unless you are so lucky and can trade with your eyes closed.
Worst Blacklisted Brokers
The datapoints provided are used to calculate a rating based on what we beileve has the most benefit to our users. Our proprietary rating algorithm takes all of the datapoints to generate the rating. This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones for their needs. Skrill also allows cross-border transactions through its remittance service Skrill Money Transfer. The service enables customers to transfer funds to a bank account in another country with their bank card. Con’s

Well, some people are just lazy and never setup the EA in the first place. They might be busy with other work and just forget to use the bot and also fail to use their right for a refund. They buy because of an impulse, scarcity and other tricks that marketers use, but later they just do not find time to setup and use the robot. Maybe you, or someone you know, has been among this group at one point or another. This is the world we live in as Forex traders, and we must deal with these unscrupulous marketers as we try to navigate through the sea of flashy products and instant-profit systems. We, as ambitious traders, know that there are great systems and great products out there that can benefit our businesses, but it is a difficult task to find them. In addition, it is important to remember that we at Dailyforex do our very best to locate scam services and warn our readers about them immediately. However, since they are so prevalent, we would really appreciate that if you, as our reader, could notify other readers upon encountering such a service. You can do that effectively by sending us the name of the service via our Contact Us page. Similar problem with this company, they erased my cash deposit of USD 20, 000 from my account while I want to withdraw money from them.

These are not all of the scams that are out there, but it is a good starting point for your knowledge. Again, I didn’t want to mention any specific companies, brokers, robot-programmers, or signal-providers in this article, but just to educate you in general about the different types of scams that are out there. You can use Forex scam watch websites like ForexPeaceArmy to help protect yourself from bad products and systems. If you choose a broker, remove from your list and select only a regulated and duly licensed broker. If you have already signed a contract or sent money to this scam broker, please contact btc-scam as soon as possible to get in touch with the Fund Recovery specialists to withdraw funds to Therefore, we recommend that you report fraud and submit a review to as the first step towards getting your funds back. If you have lost money on, please consult our experts and we will conduct a full investigation and help you file a claim that will make it easier to recover your funds.

NetoTrade is a scam broker that has numerous warnings that have been issued against it on a global scale. NetoTrade claims to have regulation through FINMA, which has been confirmed as false by the Swiss Financial Regulator. The trading account would subsequently be cleared of all funds and the trader would be none the wiser until they try to access their trading account and notice that they had been blocked. When evaluating brokers and offers, the rule of thumb is that should something seem to be too good to be true, it normally is, and this applies where the scam broker, Panamoney, is concerned. Traders are encouraged to deposit more funds into their trading account after which their accounts are frozen, and the funds are removed. The broker does everything in its power to convince traders that they will be able to earn profits in a foolproof manner and traders should take great caution in avoiding falling prey to brokers such as these.

  • This can happen to a number of other trading system designers, robot programmers and fund traders; they may do very well in the beginning but then struggle in the future.
  • Another concern with fiscal brokers with regards to safety may be manipulation of trading.
  • The technology embraced by is among the maximum caliber, making sure that it’s fast, dependable, and effective.

Skrill’s operations outside of the European Economic Area are operated by Skrill Limited – a company incorporated inside the United Kingdom and regulated by the Financial Conduct Authority. is a legit company headquarted in Portugal since 2019. is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams. As you know, operates with good conformation to regulations. It’s established plenty of measures to guard all its investors. You can use debit or credit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron.

As a consumer, it is vital to research a company before depositing money to trade. At, it’s our mission to assist you as much as possible with that research. However, fraud has also plagued the market during the same period. In 2008, theCFTC, the U.S. commission responsible for monitoring the market, set up a special task force to focus on forex fraud. They found that many dealers promised large returns with an initial investment of $5,000. In a number of cases, the money never even entered the market, but was simply stolen. In other cases, the fraud is more sophisticated, as “trading desks” charge expensive fees or purposefully insure that their customers lose—to the benefit of the brokerage. According to the Wall Street Journal,the average trader loses about $15,000, and one CEO of a forex company said, “If 15% of day traders are profitable, I’d be surprised.” It seems like most of the people on this thread either are forexct’s competitors or ex employees. I have been trading forex with a number of different aussie brokers over the last 12 years and have never had the issues which are described here.
Can you make money with
The following guidelines should help you know what you’re looking for and encourage you to look closely when researching a company online. All of the traffic to Forex scam websites must come from paid marketing initiatives. This essentially means that unless you somehow know the name of the Forex company prior to seeing their advertising, you cannot find them. The only way for them to do business with you is if they find you. One of the primary ways that Forex scams avoid being prosecuted is by registering their companies in a locale that doesn’t mind turning their heads to illegal or unethical activity. These locations tend to be small countries where corruption exists and government officials are able to be “persuaded” in the form of monetary compensation to allow scam companies to operate.

What Can You Trade With in 2022?

We tested the multilingual team by calling them in various languages. made an effort to ensure all of our questions were answered. Understand the trading resources available with, freetrade & easyMarkets below. If trading forex pairs is of interest to you then offer over 163 forex pairs. has a wide variety of over 193 instruments available for you to trade with. In accordance with the company’s privacy regulations, client information is never to be shared with some other institutions or individuals. You can make use of a choice for 2 Factor Authentications with for heightened security.

  • The inactivity fee is exposed to a lot of conditions and should be revealed clearly by the broker beforehand.
  • Binoptia is an unregulated offshore broker that claims to be headquartered in Israel.
  • In 2008, theCFTC, the U.S. commission responsible for monitoring the market, set up a special task force to focus on forex fraud.
  • Panamoney issued a few returns but closed down and was never to be seen or heard from thereafter.
  • The cause of this is that the companies of online brokerages are scaled better.

For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research. At other times, the scam broker will have awards with media outlets that are reliable, but the awards are fake. This snip is from 12 Trader, which features fake awards form 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. It is also important to check for disclosure documents, which provide important information about the company. For example, look at the disclosures page on, which offers performance history for forex customers, audited financial statements, and disclosures.

You will have to speak to an Account Manager and beg them to give your back your own money. This process will also require several forms of ID, bank statement and any other document that could potentially slow down the withdrawal. Enough time for you to maybe change your mind and for the Account Manager to have another go at convincing you that paying 4 pips on EUR/USD is a good idea. When Mr. Marques called ForexCT to check on his account to try and withdraw his money, it was nearly impossible to do it. Additionally, the representative that answered convinced him he was doing well and he just needed to invest more. Mr. Marques is one of the customers who have already lodged a complaint with the Philippinesn Financial Complaints Authority for his losses. I have got all the evidences to prove the scam business they are in.

If such programs exist, the world would be overloaded with millionaires. Only with both fundamental and technical analysis of conditions can a trader open successful positions. I don’t mean to say that there are no profitable robots, because indeed this is not true. In my opinion, everyone who is bragging with their fancy cars and houses online usually are promoting a scam. If anyone knows a honest vendor selling a good product that way , please post a comment below this article. And even if those braggers have those fancy things, they usually make money to buy them from the sales of the product, not from using their own product. Anyone with a higher budget can rent a Lamborghini and shoot a fancy sales video. My first trading robot that I developed is a classic example of this.

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