Five of The Best Forex Scams | 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!!!!!!

A beginner trader should always be critical in their approach, analysing statistics and making their own functions that they have tested and had success with on a demo account first. A forex scam is when you sign up to invest in a forex platform thinking that you are trading foreign currencies. You plan to buy foreign currency in a certain country and hope that the currency increases in value and then you will be able to cash in those profits. Instead what happens is the system that you buy the foreign currency on is not connected to the actual exchange rate. The Forex scammers manipulate the platform and in some cases create their own algorithms so that they can control your profits at will. This means that they decide how much money you are going to make or essentially lose. It’s only a matter of when they decide to either place the trade themselves or advise the unassuming victim to place a losing trade.
How Forex Trading scam work
If your broker is licensed by CySEC in Cyprus, go here to see the CySEC complaint procedure. “The fundamental law of investing is the uncertainty of the future.” “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” “Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” “I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime.” “Fundamentalists who say they are not going to pay any attention to the charts are like a doctor who says he’s not going to take a patient’s temperature.” “Amateurs look for challenges; professionals look for easy trades. Losers get high from the action; the pros look for the best odds.” If you have 10 out of 10 checked, it is safe to say that your broker is reliable. However, if you only get less than 7 checked, we recommend you find a better alternative. My broker accepts payment with standard methods, such as Visa/Mastercard, Wire Transfer, PayPal, or Skrill.

Common Signs of Warning in A Forex Scam

Unfortunately, some people will stop at nothing to make a quick buck, even going as far as criminal lengths to defraud millions of investors. If traders are new to trading, it is very likely that they will not know how to spot a scam broker and will see only the promise of good returns and an easier, more lucrative lifestyle. If you are a newbie in forex investing, you will surely find it hard to differentiate between a realistic trading scenario and an unrealistic one. The only thing you can check initially with the list of forex scams. Further, for the advanced level, you can check the regulatory body as well as check with more scam brokers forex list available online. Although checking the regulation is not the full proof strategy, it will help you at the beginning stage.
While brokers do not have to be available 24 hours a day, they should be available when you need them. They should also have a built-in dispute resolution system to manage larger difficulties. Except that’s exactly what you get from so-called gurus. They entice you with promises of wealth and grandeur fit for a king. They boast about how simple it is to make money and how soon you may become a millionaire. They frequently offer their thoughts in relatively basic language that makes sense on the surface. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

Forex Scams 101

Foreign scammers take advantage of their understanding of the forex exchange business by preying on their victims with sophisticated language. Risk disclosures and terms of use are frequently used to minimize their obligation if investors incur losses money stealers along the road. I wasn’t looking to do this, but I was hovering over a page about Bitcoins when my phone called. It was a person who talked to me and told me that someone would ring telling me what to do all the time, and he did it for me.

Do your research—learn more about the foreign exchange market, terminology, and the legitimate resources to assist you with trading. Consider setting up a demo trading account with a trusted broker to practice before putting actual money on the line. 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. It may be hard to identify these signal sellers as scammers, as they often provide rave reviews and quote a history of making large profits. A signal seller scam will collect money from traders without providing any information. Even worse, many aren’t even qualified—through experience or otherwise—to provide advice. In fact, a quick Google search will expose how easy it is to market yourself as a signal seller.

This is a very common form of fraud and makes promises of high returns from a small initial investment up front. The early investors usually do gain a return on their money and be motivated by this success they then recruit their friends and family into the scheme. In truth – the ‘investment opportunity’ does not actually exist and their initial return is being funded by money paid in by other members of the scheme. When investor interest starts to drop the scammers close the scheme and take the money. False statements are used to trick clients into buying a dodgy indicator/EA or to attract clients to invest in a forex-managed account for the sole reason of “churning” so they can earn rebates. For those unaware, EA is essentially software in which you are able to program so it automatically places orders in the foreign exchange market. An arbitration panel will consider several factors when they conduct hearings to determine whether a broker has been churning an account. They will examine the trades that were placed in light of the client’s level of education, experience, and sophistication as well as the nature of the client’s relationship with the broker. Read through all the fine print of the documents when opening an account.
Signal sellers
Retail speculators are continually trading without enough capital by using high leverage and gambling addiction. Also, you should have a better idea about your country. However, it is not obvious that offshore traders are always pursuing scammers. You just need to verify them properly before signing up.

Scams through software

Pls I want to confirm authenticity of this broker, while doing that I want traders to be aware of the broker. A new trader may not know what they are looking for or be equipped to recognise a Forex trading scam and this may cause some concern when it comes to investing your money. There are a vital things to look out for in order to ensure that a trader indeed chooses to trade with a genuine Forex broker and avoid subscribing to any of the services that may lead to a scam. This type of scam involves getting people to buy shares in a worthless private company on the promise that when the company goes public their shares will increase considerably. These scams often involve a broker taking a traders’ money and instead of investing it and they use it to buy all sorts of luxury items for themselves. When the trader eventually wants to withdraw their money there is not enough money left to repay. We introduce people to the world of currency trading, and provide educational content to help them learn how to become profitable traders.

  • As you would expect, scammers do a very good job of trying to conceal their dishonest practices.
  • Needless to say, these forex robots have not been tested or vetted by any third party to ensure their credibility.
  • If they deny or continue evasive, it’s most likely a forex scam.
  • I am Msobomvu Marala and have an account with Globus Capital Limited They have helped me raise my capital in forex trading and I have even organised people to join the broker.
  • Over many weeks I asked for withdrawals for the first time and they became very difficult and did not honour any withdrawal and tried to convinced me with a measly $5000 withdrawal.
  • After all, there is no such thing as being too careful in forex trading.

The binary options carry a very big risk and cannot be relied on in a long run. The same can be said about brokers that operate around PAMM accounts. First, they will ask you to pay an entrance fee, and then you will be asked to buy their products such as training videos, trading signals, and other products to improve your trading skills. Instead, what you actually do is to recruit more investors into the scheme and ask them to buy the company’s products so you can earn a commission fee. Forex scams can be organized scammers that disguised themselves as brokers or brokers that commit scams themselves. They are often very well-versed in digital technology as this is their main vehicle to deceive traders. In general, scam brokers can be divided into these three types. With a daily volume of more than $6 trillion, it is only natural that forex attracts scammers to the industry.

Be a ScamSmart Investor

It establishes a secure connection with the server, thus preventing brokers from stealing your information. Most browsers will warn you about insecure connections if the brokers do not have this certificate. If you receive this warning when opening a broker’s website, it is best to leave right away and never come back. If the points above do not raise a red flag, checking on a broker’s regulation is one of the easiest ways to decide whether the broker is legit or not. Any reliable broker always holds at least one license from reputable regulatory bodies. The list includes blacklisted brokers, but these are not all of them, so you need to follow the below-given tips to avoid fake brokers. All information on is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information.

“Novice Traders trade 5 to 10 times too big. They are taking 5 to 10 percent risk, on a trade they should be taking 1 to 2 percent risk on.” “Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets.” My broker does not interfere with the withdrawal of my funds. Ratings can be easily manipulated, so always be cautious even if brokers have five stars and great reviews. This is especially true for the brokers that display their ratings only on their website or any third-party source that actually belongs to them. Find out if their ratings can be trusted by looking up unbiased and non-sponsored reviews on reliable media. Regardless of what narrative they go with, you lose your money. Visiting their website will be pointless because at this point it has already closed down. In fact, this type of scam is so ubiquitous that many websites are launched and closed down within less than a year. Don’t get excited by hearing the promise of unrealistic profits.

I stop send money, but they still call and msg all the time. And is they a way to recovery funds and pay only out of the recovered fund. I have screenshots of all BTC Sent and all wallet address. Speculators who trade without skill are playing against the whole market, which has near-infinite capital, and they almost always go bankrupts because of this lousy strategy. Forex trading in itself carries many high risks and losses are almost always inevitable.

Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks. Of course, such robots are popular and scammers know it. However, a simple checking the Forex scam list online will help you not to be fooled. To check if the broker is indeed licensed it should be as easy as looking at the footer of their website. Traders should be put off by the existence of scam Forex brokers and they don’t need to be a victim.

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