5 Common Forex Scams & How to Avoid Them | Fxclearing.com is a BIG SCAMM WITH FAKE REGISTRATION.

https://www.fxclearing.com/ (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 Fxclearing.com 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!!!!!!

This is the type of scam brokers that will grab your money very quickly and fly away at night to evade their responsibility. They come fast, and they go even faster if they have already got what they want. They operate by setting up a website that often looks https://www.fxclearing.com/ very plain and simple. On it, they will write bogus claims of easy and big profits, or anything that could attract you into investing with them. But once you make a deposit, they will disappear either by declaring bankruptcy or announcing nothing at all.

A good supplement to this type of search is BrokerCheck from the Financial Industry Regulatory Authority , which indicates whether there are outstanding legal actions against the broker. And if appropriate, gain a clearer understanding of the U.S. regulations for forex brokers. Fxclearing.com is a forex broker that specializes in the Metatrader 4 platform. If you need an MT4 broker, than compare this review to some of the other reviewed brokers on our site to give you an idea of which one will suite you best. You should be looking at things like their overall rating voted by us and our users, but also their location, if their regulated, if they allow what you want to do like scalping etc. Also check out their available account types, a broker with a good rating may not have features that you want. A forex broker is a company that grants you access to a trading platform to buy and sell currencies. Unfortunately, not all brokers are honest and legitimate—finding ways to take your money or inundate you with fees.

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Then they said before I get my profit, I have to verify my id first cost $400 before I get my profit. I asked them if after i paid for verification, can I get my money? They said yes,but after that, they send email again that I need to pay OCC worth $800, but i paid only $500 because Eric Frank said he will lend me money to complete the amount. He lied,Margaret Moana the Ceo, asked me how much I paid for OCC? Eric frank instructed me to tell FOREX SCAM her i paid $100 only, so means they are doing fraud already. Then Moana take over and said Eric Frank is doing fraud. So she promised that She will give me my profit immediately. She said it is the last payment and my profit will automatically reflect on my bank account. So I paid again, but after paying it, I got email again from their company that I have to pay for the Auto Bot management so that my money will reflect on my bank account.
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The fact is some of these dream sellers, don’t even bother to create statements, even if they were fake. People are so hungry for effortless success that it is becoming easier to trick them. No one wants to study for months at night, while going to work during the day. Most people just want to hook up their account to somebody else and make the big bucks. We forgot what it means to sacrifice something to get something better. We are turning into consumers who cherish useless “toys” more than the real treasure in our lives – our families and friends.If you think about it you will see i’m right. The fat man eating his 3rd hamburger would pay thousands of dollars for the magical pill that will make him lose weight. There is sacrifice at the table and endless hard work at the gym. In the case of Black Diamond and other Forex frauds, the investors would have quickly learned that there was something suspicious about it by looking at its structure. First, it wasn’t licensed to operate in the US and not regulated by any financial regulator.

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As for Gerald Rogers, the guy had previously been convicted for fraud and was actually on parole when he created Premium Investment Corp. As you can see, these two major FX scams could have been avoided simply by doing a bit of research into the companies and the people behind them. To put it simply, make Google your friend before making the leap. Another sign of an FX broker scam has to do with the company itself. Black Diamond Capital Solutions, LLC, ran by Keith Simmons was never licensed to operate as an investment firm or regulated by the CFTC in the US. Neither were any of those other companies that joined the scam later. This is why I always advise anyone seeking to invest money to do their research on the legitimacy of the company and to, most of all, confirm whether they are regulated. Apparently, those 240 investors didn’t do any of this, and they ended up losing their money. Fortunately for them, they eventually made some of their money back, but not all victims in the past have been so lucky.
The spot forex market traded over $6.6 trillion a day as of April 2019, including currency options and futures contracts. You guys did a scalping generated the profit transfer a fund from one account to second for trading which is against the broker policy. Hence we have disabled your account and that is why your withdrawal is also pending. I was convinced to join a broker by the name TRADERVC , they seemed to be in the UK . After depositing the money they told me that my money was lost in the field , yet they never told me that they will be doing the trading themselves not by myself. They also asked me to put more money so that they can gain the lost one but i refused. On the 26th of March 2021,i registered with this company after being made to believe that will get profits in some few days. To my surprise the guy on live chat called Jim asked me to deposit more money of which i declined.Upto day i can not see my account. After requesting a withdrawal, the broker asked me for more commissions and I can’t manage to get the withdrawn money.

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Secondly, legitimate brokers will have some kind of information available online other than their own website. They might have review pages or sponsors or web pages that are using them to provide content, one way or another there will be something. Not having any web presence at all outside of the company’s website is a reason to do more homework. In order for them to have found you, they must have used a targeted ad campaign or through a marketing website. This means that through an online search that you did or through a specific demographic, the Forex company paid for ads to show to people similar to you. Even though many online companies rely on paid advertising to obtain clients, the difference here is that this is the only way that they can reach their potential clients. Forex scams are not new to the idea that a financial institution requires regulation. They know that many potential clients will be inquiring about their regulatory standing. They therefore have many clever methods that they use to deal with this issue. This often comes in the form of a foreign registration along with a foreign address.

  • These businesses already come with their fair share of skepticism and it’s no different when it comes to forex.
  • Like other trading markets, the Forex market also suffers through the hands of these scammers.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
  • Do your research—learn more about the foreign exchange market, terminology, and the legitimate resources to assist you with trading.

Usually, when a broker initiates a trade, it offsets a somewhat identical position to reduce the risk. Then the broker makes the trade for the second position when the offset position is known. If the offset position is better, the trader’s position should be better too. Alternatively, if the position is worse, the trader will also face the same. But the scam brokers will not pass the profit to the trader earned from the better position. It is a computer-manipulated bid-ask spreads offering that favors the broker. It usually occurs by increasing the spread of bid and sell price to 7 to 8 pips, while the regular spread is 2 to 3. Through this tempering, the broker can earn money, and the trader loses.

You will see that profitable trading is very difficult, and profits are hard to make. But at least, at a licensed broker, they will not steal your money, and block your withdrawal requests. Some platforms claim that they have automated trading capabilities that allow investors to make money all the time, as long as they put their money in. However, these automated programs have not been reviewed, and the so-called trading history may be falsified. Binary options are bunch of scammers, it was an awful experience dealing with them. But it would be forever unforgettable had it been I was unable to get my money back. Even though I got only 88% of my money, paying 12% to the specialist that helped me recover the money was worth it. You can contact the specialist that helped me out on mitnick at planetmail dot net if you are looking to get recover your funds from binary options also, he would certainly help you out too. Many people ask online “Is Forex Trading a Scam”, and I am here today to tell you that forex trading is not a scam, noris forex scamming.
How Not To Fall For A Forex Scam
An important factor to always consider when choosing a broker or a trading system is to be skeptical of promises or promotional material that guarantees a high level of performance. Full BioSuzanne is a researcher, writer, and fact-checker. She holds a Bachelor of Science in Finance degree from Bridgewater State University and has worked on print content for business owners, national brands, and major publications. I just don’t want to send anymore more money without confirmation they are not a scam. 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. If the offering is validated by the regulated exchange. Is another US regulatory body that works as a self-regulatory body in the Philippines to deal with forex. They will blame it on the market when in fact, it is all in their company.

*Information not comfirmed*

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