FxMarket365 Review – The Clear Signs of a Scam

FxMarket365 Review

You obviously want the best when you start looking for an online broker to trade in the financial markets. It is a well-known fact that they play a very vital role in your profits and success, so you certainly don’t want to make compromises.

There are thousands of that are offering their services, but since scammers are also active in the space, this is not a decision to be made on a whim. You need to check out a company before you decide to open an account with them.

Some of them will have some clear indications that they are not up to any good, as this FxMarket365 review tells you.

Others will be more subtle, but the fact is that you will be able to learn the truth about a brokerage only after you check it out properly.

This means that you should not just skim the surface and dig deeper to know everything necessary about a brokerage. It ensures that there will be no surprises later on and you will be able to select a professional and dependable broker for your trading journey. But, it will only work when you know what to look for.

Most people are not aware of how to distinguish between fraudulent and genuine platforms, so they end up with the wrong broker. There are some clear signs that can help you identify the nature of a brokerage, which you will come across when you check out FxMarket365.

This brokerage has a rather strange website, given that it does not even boast a logo. What kind of company does that? This should immediately put you on your guard.

As far as its offerings are concerned, you will be promised top-notch security at FxMarket365 and access to an extensive range of instruments including CFDs on commodities, forex currency pairs, indices, stocks and cryptocurrencies.

They also claim to offer 24/5 customer support, fast execution and low trading costs, all with a powerful platform. As appealing as it sounds, there are clear signs that FxMarket365 is nothing more than a scam. What are they? You can check out some prominent ones as follows:

No regulation

Every CFD brokerage worth its salt will make the effort to obtain a license in the jurisdiction it is based. They are aware that regulation can help them build credibility and earn the trust of their clients, so they will be ready to fulfill the requirements of the regulatory authority to get the license.

Since they are genuine, they will not have to worry about meeting the criteria that requires them to offer quality services, maintain transparency and ensure security.

The first clear sign of a scam that you come across at FxMarket365 is that they do not have a license and are unregulated. According to the broker’s website, it has its offices in the United Kingdom, which is one of the world’s top regulated regions.

Its regulatory body is known as the Financial Conduct Authority (FCA), which issues licenses to brokerages without which they cannot operate legally in the region. This means that FxMarket365 should also have a license from the FCA.

But, when you check the online register of the FCA, the name of FxMarket365 does not pop up, which means it is not regulated. Instead, you will discover that the regulatory authority has actually issued a warning against FxMarket365 because it seems to be operating illegally in the UK, which only a scam would do.

This is proof that the broker is up to no good, given that it is also an anonymous website and does not have any company information or background available.

Lack of trading software

In order to execute your trades in the financial markets, you will need a trading software and it is the responsibility of the brokerage you choose to provide it to you. Of course, the one they provide is up to them, as there are numerous options available.

When you are shopping for a broker, you want them to offer you one of the most advanced and powerful platforms in the market, like the MT4, or the MT5 that have a good reputation. It is good to know that FxMarket365 is offering the MT4 platform, but this turns out to be another lie.

When you try to access the trading software at FxMarket365, you are going to learn that there is no functional software available at all. There is no software, which means that opening an account with it is kind of useless.

Confusion in business model

It turns out that there is a reason why there is no functional trading software available at FxMarket365 because it does not really offer you trading services.

What it does offer are investment plans that you can purchase. This plan requires you to invest your money and the brokerage will do the trading on your behalf. The cheapest plan starts at $250 and is promising 30% to 70% returns.

This is yet another clear sing of a scam at FxMarket365 because anyone guaranteeing any kind of profits or returns is only going to fool you.

There is no way to predict anything in the financial markets because they are highly volatile, which means even the most professional brokers will not guarantee you returns. In addition, since brokers are market makers, they will never make profits on your behalf because it means losses for them.

Therefore, they will deliberately make losing trades, which means you will be left empty-handed.

Lying about payment methods

Another clear sign you are dealing with a scam is evident when you check out the payment methods advertised at FxMarket365 because it is making false claims. It promises a host of methods, including wire transfer, Paystack, Stripe, PayPal and a number of cryptocurrencies.

But, you will find that payment cannot be made through PayStack or PayPal, which offer you the possibility of chargeback. Obviously the broker does not want you to get a refund.

Final Word

Since there are clear signs that FxMarket365 is a scam, you should not make the mistake of depositing your money with it.