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Dubious broker Forex Metal - reviews of the risks of cooperation
Forex Metal is a company providing services in the field of online trading. The organization was founded in 2005. The company is registered in Panama and offers its clients various conditions for trading in the financial markets. However, it is important to note that information about the project is ambiguous, and there are different opinions regarding its reliability and transparency of activities. Many traders accuse the counterparty of fraudulent activities.
|Year of foundation
|Regulation and jurisdiction
City: Panama City
Адрес: Via Ricardo J. Alfaro, The Century Tower Building, 4th Floor Suite 401
- Site is closed
- No withdrawal of money
- Lies about regulation
|Types of accounts
Standard, Professional, FX Edge
USD, EUR, GBP, AUD, JPY, CHF
Visa, Mastercard, Skrill, Neteller, GiroPay, Poli, FasaPay, Bitcoin, Perfect Money, UnionPay, QIWI, Yandex, Sofort, Wire Transfer
Up 0,2 pips
CFDs of currencies, indices, metals, energy
About the broker Forex Metal
The company is registered in Panama, and, according to some sources, has branches in:
- Great Britain;
- Hong Kong;
- South Africa.
However, there are doubts regarding the authenticity of this information. Partly due to the lack of actual addresses for the location of regional offices.
The company’s activities are regulated by CySEC and FSA, but other resources indicate that the company does not have licenses to conduct brokerage activities. A check of the registers of declared auditors showed that such licenses were issued, but their validity had long expired.
Information about management and organizational structure is not publicly available. This only increases suspicions of fraud.Forex Metal official website project is unavailable.
There are many negative reviews about the broker, in which clients express dissatisfaction with the terms of cooperation and accuse the company of fraudulent activities. It is stated thatMetal Forex does not fulfill obligations to withdraw funds and uses various pretexts to block client accounts. It is also noted that the information on the company’s website contains grammatical errors and typos, which raises doubts about the professionalism and reliability of the broker.
Forex Metal is a company with a controversial reputation. On the one hand, it offers a variety of trading conditions and has many years of experience in the field of forex brokerage services. On the other hand, there are serious allegations of fraud and lack of proper financial regulation. Potential clients should carefully review all available data and reviews before deciding to work with this broker.
Terms of trading with Forex Metal broker
The office offers various types of trading accounts to meet the needs of a variety of traders:
- Standard: Suitable for beginner traders. The minimum deposit to start trading is only $1, which makes it accessible to a wide range of investors;
- ECN: Designed for more experienced traders who prefer trading using Electronic Communications Networks (ECN). The minimum deposit for an ECN account is $1000. This account provides faster trade execution and tighter spreads;
- Professional: For traders who want to trade with large volumes, the project offers service with a minimum deposit of $10,000. The account provides additional benefits and services for experienced investors.
Forex Metal offers a maximum leverage of up to 1:500, which allows traders to increase potential profits, however, be aware that this also increases risks. In addition, such high leverage violates the requirements of European regulators with whom the project supposedly cooperates.
The company offers both floating and fixed spreads, starting from 1.8 points. This provides flexibility in choosing trading strategies. However, the stated figures are higher than the market average. There is no point in working with an office.
The brokerage firm provides access to one of the most popular trading platforms in the world – MetaTrader 4. The terminal is known for its user-friendly interface, advanced analytical tools and automatic trading capabilities.
- demo accounts: for new clients and traders who want to practice before trading with real money. This allows you to familiarize yourself with the platform and trading conditions without the risk of losing real funds;
- support: the company provides round-the-clock technical support for five trading days. Managers are available through various communication channels, including telephone, chat and email;
- multilingual: communication with clients is conducted in different languages, including Russian, which makes the project’s services available to a wide range of traders around the world.
The scam offers various methods for depositing and withdrawing funds, including electronic wallets such as Moneybookers (Skrill), CashU, Pecunix, WebMoney, Perfect Money, as well as traditional bank cards and transfers.
Trading conditions with the broker are a combination of flexible trading accounts, advanced trading platforms and support for various deposit and withdrawal methods. However, given the mixed reviews for the company, traders should exercise caution and carefully review all terms and conditions before trading.
Forex Metal Expose
You need to start by analyzing the numerous complaints and customer reviews that indicate serious signs of fraud in the company’s activities. One of the key points of doubt is the lack of licenses from reputable financial regulators. Despite claims to be registered in Panama and have CySEC and FSA certificates, independent checks show that such licenses are missing, calling into question the legality and transparency of the activitiesForex Metal personal account It’s too risky to open here.
Another warning sign is a lot of complaints about problems with withdrawal of funds. Customers report that the company uses various excuses to refuse to process cashout requests, including accusations of violating the terms of the bonus policy or non-existent technical problems. Such actions are a classic sign of fraudulent schemes, where brokers deliberately make it difficult or completely block the withdrawal of clients’ funds.
There are frequent reports of manipulation of trading conditions. Clients point to unreasonably high spreads and slippages, which lead to unexpected losses. Such methods of work indicate that the sharaga does not provide fair and transparent trading, but is rather interested in the losses of its clients.
Another aspect of concern is the quality and content of the company’s official website. There were grammatical errors and typos found on the site, as well as a superficial description of the terms of service. Such a low level of professionalism in providing information signals a lack of seriousness of the company and its attitude towards clients.
Finally, it is worth noting the lack of transparency regarding the management and structure of the company. No information is provided about the key individuals running the project, which is unusual for reputable financial institutions. The anonymity of top managers is a sign that the company is trying to avoid responsibility for its actions.
Taken together, these factors create the image of Forex Metal as a company whose actions are seriously questionable and can be classified as fraudulent.
Fraud with quotes, blocking of trading accounts and withdrawal of money – all thisForex Metal investments on this platform are doomed to failure. The company imitates online trading and does not display transactions on the interbank market. Scammers work according to the Forex kitchen principle, trading against their clients.
Reviews about Forex Metal
Clients are distrustful of Forex Metal reviews practicing traders once again confirm the inappropriateness of trading on this platform. Konstantin and Dmitry face serious difficulties when trying to withdraw their funds. This phenomenon has become a common sign of fraudulent activity, where a broker creates artificial obstacles to prevent clients from returning money.
Dmitry points out the discrepancy between the conditions stated on the website and reality. This misleading of potential customers about trading conditions is another sign of dishonest activity. Dmitry mentions that after trying to stop trading and withdraw funds, they actively called him and persuaded him to continue trading. Such methods may indicate the company’s desire to keep client funds at its disposal for as long as possible.
Venya emphasizes that the company has already been accused of fraud in the past, especially in 2016. This indicates a long history of problematic practices and confirms the risks associated with doing business with this company. He also notes that due to the company’s registration in Panama, the likelihood of a refund becomes even more problematic. This is due to the legal and geographic complexities that can arise when trying to resolve disputes with a company registered in a jurisdiction known for its privacy and lax financial regulation.
Reviews fully confirm speculation about potential fraud Forex Metal review traders’ opinions confirmed that no one has yet managed to make money trading on the platform.
Company Forex Metal scams money out of novice investors by promising profitable trading. In reality, a group of financial scammers is behind the creation of the project. If you also lost money due to the fault of this company, we we will help you return your investment. Our staff specializes in chargeback.
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