Cheated by a financial organization, does not withdraw money? Do you want to check the financial company?
Broker FXCM - review of another financial brokerage platform
There are a lot of fraudulent brokerage houses today, and one of them is FXCM. Their methods of scamming naive users are becoming increasingly sophisticated by offering attractive Forex trading deals, so it is important to know how brokers scam.
|Date of foundation
|Regulation and jurisdiction
NFA(US), FSAuthority(UK), CFTC(US), ASIC(AU), BAFIN(DE), CECEI(FR), CONSOB(IT), DMCC(AE), SFC(HK)
A financial platform that deals with fraudulent online trading transactions. Operating since 1999, the office provides users with a choice of different trading instruments for Forex trading. Users are offered a personal assistant, but its goal is to drain your deposit as quickly as possible. There is no actual trading involved, there is a fee for each transaction. This indicates that the broker is fraudulent.
Telephone: +44 7537 432259
- Tight spreads (up to 1) and small swaps
- Withdrawal and replenishment of balance without commission
- Demo account
- Registration in an offshore zone
- Lack of signals, normal training and ready-made algorithms
- Commission for each transaction from $3
FXCM Trading Station Advanced, Metatrader 4 , FXCM Active Trader, Mobile TSII Platform
Direct, NDD, PRO и Mobile
No commission, PayPal, payment cards, bank transfer.
|Minimum deposit amount
max – 1:200
from 0.2 to 0.9 points
currency pairs, CFDs, metals, stocks, future, oil
|Margin Call/Stop out
100/20 – 100/50
Possibility to open a single trading account for MICEX, FORTS, FOREX, CRYPTO
How the fraudulent platform works
There are more and more new fraudulent companies on the market, although in fact they all work according to the same scheme. Their main goal is to find a naive and inexperienced trader who is ready to fall for beautiful and fabulous conditions to earn huge money.
But, in fact, such promises have nothing to do with reality. The scammers simply swindle out as many funds as possible and then block the account with all the money. In this case, it is impossible to get an answer from the scammers, neither by phone nor by official email.
They attract their victims with a minimum deposit amount – only 50 bucks. This is precisely why so many new users fall victim to this cheap money scam.
FXCM reviews – review of reviews from real users about the work of the fraudulent project
It is quite simple to make sure that FXCM is simply a scammer. To do this, just check the reviews that they are left by real customers of the service. This is not difficult to do online, since the brokerage office in question has been operating since 1999 and there are enough reviews from real traders. And since most of them are negative, working with Forex using FXCM, apparently, cannot lead to anything good.
The following user who left his review tried to find out how to make money from FXCM and finally start making money. According to him, he was unable to withdraw the amount from the account, so he simply had to give his money to the scammers and come to terms with this situation:
The next person can’t say anything good about how FXCM investments work. He shares with other users the information that he was unable to make any money here, although he replenished his FXCM personal account with $2,000.
Neither does the following user have a better opinion on how the FXCM official website works. He claims that he was unable to withdraw funds and regrets that he could not expose the broker’s fraud before registration and deposit. He talks about this in his commentary.
If you find yourself in such a situation, then different companies can offer to return the funds, but it is better to turn to specialists who really have enough experience to do their work quickly and efficiently. Usually, independent attempts to return funds cannot lead to anything good.
Speaking about the contact information that this brokerage platform provides to clients, it is worth indicating the following information:
- Legal address:: Units 310, 312 and 315, the NBC Building, 33 Neas Engomis Street, 2409 Engomi, Nicosia, Cyprus;
- telephone: +44 7537 432259;
- email: [email protected].
Considering the information that is known about the FXCM company, it is better not to contact it at all. The company has a very dubious reputation, as well as suspicious registration in an offshore zone. This may indicate that the company is trying to operate illegally and is deceiving its clients. And since the FXCM company does not have a regulator or a license from it, no one is going to be held accountable for the broker’s fraud. And it’s unlikely that you’ll be able to get your money back.
Judging by the information broadcast on the official website, nothing good can come from cooperation with FXCM. Fraudsters do not tell anything about themselves and only tell beautiful fairy tales that are not true at all. It’s definitely not worth contacting and trusting such a company, given the information about how fraudulent brokers work today.
It really doesn’t take much time to identify a fraudulent broker. Even without experience, the user only needs to study in more detail what the financial platform offers, as well as find reviews from real clients of the office. In the case of FXCM, the main signs of fraudulent activity are the following:
- registration address in an offshore zone: usually only fraudulent financial organizations are registered there, which bear absolutely no responsibility to their clients;
- bad reputation in the market: it won’t take much time to find negative reviews from real clients of the FXCM company, since more and more of them appear every day;
- the absence of a regulator that issued a license allowing brokerage activities in the modern financial market.
All this means that the FXCM office simply does not have access to Forex, so it has no opportunity at all to carry out trading transactions like this, not to mention successful ones. It’s definitely not worth contacting such a fraudulent brokerage platform, so as not to lose your money and be left with nothing.
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The company’s rating and reputation largely depend on whether its clients are satisfied. The reviews about FXCM are not the most flattering, and therefore you should take a close look at them before deciding to cooperate with this platform.
To add a review of this company on the resource, you do not need to spend a lot of time. The whole procedure takes no more than 5 minutes, and this is already with registration. A letter with a link to confirm registration will be sent to your e-mail, and it will also contain detailed instructions on how to add a review to the site.
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