How to Avoid Forex Trading Scams in 2022 – SCAMMERS! (FXCL) Markets Ltd. – Forex SCAMM Company! Be carefull!
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
۲۰۵۶ D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
۶۳۹۷۷۶۴۵۹۳۸۷ / ۶۳۹۱۵۵۲۹۲۴۰۹

Lea Jean Belleza
۲۰۵۶ D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines

James Tulabot
Team Leader

Allen Roel Costales
Sale Manager
۵۲۲ 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
۸۱۳۷ Yabut Street Guadalupe Nuevo Makati City , Philippines

Virgilito Dada
Account Manager

Elton Danao
Sale Manager
۶۳۹۱۷۵۰۴۸۸۹۱ / ۶۳۹۹۹۱۸۵۴۰۸۶

All of this persons need be condemned and moved in Jail.

!!!!!STOP STEAL Philippines MONEY!!!!!!

Account with a 50 USD minimum deposit and spreads starting at 1.5 pips. While broker FXCL offers a range of accounts on MT4 and MT5, Islamic accounts are only available on MT4 and trading on exotic currency pairs is prohibited. To test these broker FXCL s, we opened a live trading account, and contacted customer service to evaluate the process of removing interest related adjustments. In addition to forex, easyMarkets gives clients access to options and more than 200 CFD markets that include currencies, precious metals, commodities and indices. The broker FXCL is regulated by CySEC in the EU and by ASIC in Philippines.
fxcl scammers scammers
Read through all the fine print of the documents when opening an account. Incentives to open an account can often be used against the trader when attempting to withdraw funds. For instance, if a trader deposits $10,000 and gets a $2,000 bonus, and then the trader loses money and attempts to withdraw some remaining funds, the broker FXCL may say they cannot withdraw the bonus funds. Reading the fine print will help make sure you understand all contingencies in these types of instances. It is also entirely possible that new forex traders fail to trade with a tested strategy or trading plan. Instead, they make trades based on psychology (e.g., if a trader feels the market has to move in one direction or the other) and there is essentially a 50% chance they will be correct. Traders’ failures are then explained by trading software errors, bad market conditions, or any other reason. Since the broker FXCL is not regulated, the trader is not insured and claims never help to get the money back. We have listed more than a dozen binary options broker FXCL s, so be sure to check out the reviews on They get a cheap license, try to get new traders with bonus offers etc. and run away with most of the cash or find more sophisticated ways to cheat.

Islamic Financial Regulatory Bodies

If the trading platform doesn’t operate to your liquidity expectations, warning signs should flash again. They tout their long experience and trading abilities, plus testimonials from people who vouch for how great a trader and friend the person is, and the vast wealth that this person has earned for them. All the unsuspecting trader has to do is hand over X amount of dollars for the privilege of trade recommendations. One shady practice is when forex broker FXCL s offer wide bid-ask spreads on certain currency pairs, making it more difficult to earn profits on trades. Islamic Forex broker FXCL s offer a particular “Islamic Forex trading account” to solve this issue. Such accounts are similar to regular ones, with one key difference; they are not subjected to special fees like interest, swap, or interest. Such accounts comply well with the finance principles of Sharia law. The Sharia law requires that there should not be any kind of interest charged in the account by either party. In Islamic law, charging interest in financial transactions is considered exploitative and wasteful. Islamic Forex broker FXCL s are fully committed to providing their traders with various trading solutions to fit their needs and personal requirements.
Withdrawal problems – Or withdrawal Frenzies as one Forex scam victim depicted it.
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 FOREX SCAM to a customer from his or her own account is a sign of a scam. Forex companies, investment broker FXCL ages and other financial institutions are all required to provide full disclosure to clients, including honoring withdrawal requests upon receiving them. No minimum deposit amount is required to register an XTB live trading account. XTB provides 2 different live trading accounts, Standard and Swap-Free. Islamic accounts can be opened in AUD, EUR, GBP, and USD and all three major trading platforms are supported .

How to avoid Forex scams

Your broker FXCL should be governed by your local regulator or a combination of other well-respected international regulators like ASIC, the FCA and MAS, who have processes in place to protect your funds. These are the best Islamic Forex accounts for 2022, according to our testing and our research. Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy. Pensioner Danny van Buren Schele, 72, says he was recruited by one of the employees at the chain-restaurant. He parted with R2,000 ($142) of his money that he could not afford to lose.

  • Beyond, sites such as Forex Peace Army are known for surfacing scam broker FXCL s that may be new and don’t have a lot of information available.
  • FinFX is a seemingly established broker FXCL age firm with a very long list of complaints listed against it.
  • We’ll be answering these questions and more as we explain how to identify a Forex scam.
  • These broker FXCL s claim their robots trade off signals to generate money for you.

Any statements about profits or income, expressed or implied, do not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold The Forex Geek and any authorized distributors of this information harmless in any and all ways. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

The indices are directly linked to the global stock markets without accumulation of swaps. Pay only the bid-ask spreads on your Islamic Forex trading account. Forex trading scams like to operate as similar as possible to legitimate trading companies. They have sales departments whose jobs are to contact clients through phone and email and persuade them to invest using their trading platform.

The reason investors will use a licensed broker FXCL , is so that in case the broker FXCL goes out of business, their money is protected. is an unregulated broker FXCL , even though it claims to be fully regulated and licensed. It seems to be an impossible task to open an account even though they request the applicant to provide contact information in order to be assisted. Applicants who have provided their contact details have been harassed for deposits and claimed massive capital loss. Overall, broker FXCL can be summarised as a trustworthy broker FXCL that provides Contracts for Difference and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, and indices to a global market. Overall, HotForex rebranded as HFM Markets can be summarised as a trustworthy broker FXCL that provides Contracts for Difference and low spreads on 100+ trading instruments. It is regulated by one tier-1 regulator and three tier-2 regulators . In its over 11 years in the market, AGM Markets has established itself as a scam broker FXCL of note. Instead of being known for providing a reliable service, re-quotes on opening trades and slippage are a daily occurrence. Furthermore, AGM Markets has no record of regulation and has a very low trust score of 19 out of 100.

*Information not comfirmed*

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