Cheated by a financial organization, does not withdraw money? Do you want to check the financial company?
Forexstart broker review - reviews of refusal to withdraw money
CompanyForexstart is a project focused on providing brokerage services in the field of trading financial markets. The office is part of Tim Group Limited and actively works in the Russian market, offering its clients the opportunity to trade on the Forex market via the Internet or telephone desk. The services cover a wide range of services, including consulting and real-time trade execution, and are aimed at both experienced traders and those new to the field. However, fraud related to the activities of this company is actively discussed on the RuNet, which raises certain concerns among potential clients.
|Year of foundation
|Regulation and jurisdiction
USA, China, Russia
Doesn’t pay money
New York, NY 10038, США, 160-180 Water St, off 3416
- Russian-language interface
- Hidden fees
- No license
- No withdrawal of money
|Types of trading accounts
Mobius Trader 7
0.1 points and above
|Minimum deposit amount
CFDs on various assets
TIS investment system
What is known about the Forexstart broker
Forexstart was founded in 2007, and the company’s first office was opened in Moscow. Since then, the company has been actively developing, offering its clients various educational courses and new trading tools. The company is registered in China, but under a different brand. There is also a division registered in the USA. A confusing organizational structure is an indicator of the counterparty’s inability to ensure transparent trading. Scammers try to hide their fraud behind numerous subsidiaries.
The company is supposedly officially registered in three jurisdictions: the USA, China and Russia, but in all these zones the sharaga operates illegally. Scammers hide behind FICEX and GURS licenses, but this is clearly not enough. To work legally in Russia, you must obtain permission from the Central Bank of the Russian Federation. The office does not have this certificate.
Scammers are trying to get out with the most primitive promises:
- quick withdrawal of funds earned by traders;
- transactions are executed at the price specified by the client;
- modern trading software.
- support for various trading strategies, including the use of advisors and automated trading systems.
All these are just empty words that are not implemented in practice. Therefore, you should not believe blindlyForexstart personal account here it is associated with too high non-trading risks. It makes sense to consider alternative options for trading in financial markets.
Sharaga offers a range of attractive services and opportunities for traders of varying experience levels. However, the lack of clarity regarding financial regulation and licensing, as well as the anonymity of the company’s management, raise some concerns.
Terms of trading with Forexstart broker
Sharaga offers a unique investment system called TIS (Trade Investor System), which allows clients to invest in the accounts of various traders. The investor’s profit grows in proportion to the success of the selected manager. This makes it possible to make money on both successful and unprofitable traders, assuming their subsequent success. Investors can withdraw investments at any time, which adds flexibility in capital management.
The broker provides access to the Mobius Trader 7 trading system, which supports various operating systems, including Windows, iOS, OS X, Android and Linux. This platform has a user-friendly interface, a wide arsenal of charts and technical analysis tools, as well as the ability to trade in one click.
Forexstart offers a bonus program that allows you to receive additional funds for active trading. When depositing funds into the account, clients can receive a bonus of up to 500% of the deposit. Bonus funds are available for withdrawal after completing a certain number of trades.
Key trading parameters:
- minimum entry threshold: no restrictions on deposits and trading lots, clients can start trading with deposits from 10 cents.
- leverage: available up to 1:1000;
- bonuses: Up to 500% of the deposit, as well as bonus payments for closing transactions;
- spreads: Start from 0.1 pips;
- additional fees: no information available.
In fact, TIS is social trading, well known to the general public. It’s implemented terribly. The process is designed to drain. Users often write about this in their reviews ofForexstart investments their trust management system makes no sense.
Forexstart broker exposed
The office is part of Tim Group Limited and has a reputation as an unreliable broker. Despite statements about a large number of clients and trading volumes, the actual data on the company’s activities are questionable. Claims about a high percentage of successful traders are not supported by reliable data, which calls into question the integrity of the company.
Forexstart does not mention any regulatory oversight of its activities, which is a red flag for investors. Lack of regulation opens the door to fraudulent activities and jeopardizes the security of customer funds. Reliable brokers are usually subject to strict rules from regulators such as NFA or CySec, butForexstart is not one of them.
Attempts to test the demo version of the counterparty’s trading platform were unsuccessful, which raises doubts about its functionality and reliability. Such problems indicate potential technical and operational shortcomings of the broker.
A bonus program offering up to 500% of the deposit seems too generous and is just an attempt to attract customers with no intention of fulfilling the promises. Such programs are often used by fraudulent counterparties to attract the attention and funds of clients.
Customer reviews indicate delays and problems with withdrawals, which are a typical sign of fraudulent activity. The presence of unexpected commissions and delays in withdrawing funds indicates the dishonest intentions of the site.
The official website does not contain complete and up-to-date information about the company, trading conditions, bonuses and competitions. This lack of transparency and lack of information suggests an attempt to hide the real operating conditions and potential risks to clients.
An attempt to hide behind the licenses of non-existent financial regulators is a primary sign of fraudulent activity Forexstart how to make money with a company that is unable to provide transparent and fair terms of service. The office simply fools newbies, promising fabulous returns, but in reality embezzles their savings.
Analysis of Reviews about Forexstart Broker
Users are skeptical about the idea of trading on the platformForexstart reviews mostly negative. Traders write that they are losing money due to the fault of the project administration.
Review by strannik200 indicates a significant deterioration in the quality of the brokerage firm’s services over time. Previously, the counterparty, according to the user, was a decent platform with account management capabilities for professionals. However, now the quality of the trading platform has dropped significantly, which hinders effective trading.
Edvarda shares her experience of unsuccessful trading, accusing the broker of manipulation that led to the loss of funds. The review highlights the lack of trust in the advice of so-called Sharaga experts and warns other traders against collaborating with the project.
Max Karpenko describes his experience with the office as with a fraudulent project. He claims that the project illegally withdrew a significant amount of money from his account and then blocked his access. This is a serious accusation against the office. Sharaga is acting illegally.
Roman Makarov expresses his distrust of brokers registered in offshore zones and notes many negative reviews. He advises avoiding investing in such companies due to their unreliability.
Evgeniy shares his experience of participating in the bonus program, pointing out the impossible conditions and the company’s reluctance to fulfill its obligations. He warns other traders against collaborating with the scam, based on his negative experience.
Glmaron describes the project as a company that is bad in every way, citing incompetent managers, lies on the website and delays in payments. This review highlights general dissatisfaction with the contractor’s services and unprofessional approach.
Yura talks about his experience as a good lesson not to deal with dubious brokers. He notes that despite training and following advice, trading results were unsatisfactory, which he attributes to problems with the platform itself.
Traders have no confidence inForexstart review complaints showed that the sharaga actually uses various frauds to embezzle money. Such cooperation is doomed to failure.
Forexstart exhibits a number of signs typical of fraudulent brokers: lack of regulation, demo account problems, overly generous bonus programs, withdrawal problems and lack of transparency. These factors should serve as a serious warning to potential investors and traders considering doing business with this intermediary. If you have already made a deposit into the project, then in such situations chargeback will help. Our specialists will tell you in detail how to get your money back.
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Customer reviews are one of the main criteria influencing the reputation and position of a broker in the ranking of reliable companies. View company reviewsForexstart You can on the main broker profile page.
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