While having all the issues you can possibly expect from an offshore brokerage, QuantumMarket tries to present itself as legitimate. Adding a prominent address in London along with the one in Dominica, it tries to tell us, “We’re offshore, but legit.”

However, we didn’t buy this story and have decided to write a QuantumMarket review, including all the bad sides of trading with this firm.

What About QuantumMarket Regulation?

To begin with, QuantumMarket belongs to QuantumMarket Ltd from the Commonwealth of Dominica. If you trust their website, the company went offshore due to lower taxes, but they own an office in the UK. However, to provide any kind of financial services from the UK, you need an FCA license, which QuantumMarket doesn’t have.

Besides, Dominica has its own regulator, FSU, that has never heard of QuantumMarket Ltd and its brand. It all leads us to believe that you’re dealing with a fraudulent scheme.

In addition, we strongly advise you not to invest in Absolute Markets, Morgan FX Capital and Future 500 FX fraudulent brokers.

QuantumMarket Warnings From Financial Regulators

Based on numerous complaints, the German regulatory body BaFin issued an official warning against QuantumMarket, stating that they have been informed about the broker’s illegal activity in Germany. Furthermore, the regulator seized a broker to stop providing services in this country and opened an investigation.

QuantumMarket Web and Mobile Trading

We understood that company offers only a Web trader compatible with any device from the website. You can log in using your mobile or desktop, but everything goes via the web. It means there’s no mobile app that would make your trading process easier.

Besides, this Web trader has fewer charts and indicators than MT4 or MT5, so you cannot expect to analyze the market properly either.

Fund Withdrawal Issues With QuantumMarket

It seems that QuantumMarket is using clients’ banking details to purchase crypto through a platform called Coinicash. If you’ve ever seen this name on your bank statement, know that broker uses this illegal payment processor to convert your funds into crypto, so it’ll be harder for you to track it down.

Of course, since the broker itself is not trustworthy and follows no regulatory rules, it declines any attempt of withdrawals. If you’re one of the QuantumMarket scam victims, contact us for assistance in filing a dispute.

Areas Of QuantumMarket Trading Scam

Most victims come from Germany, the UK, Sweden, and Norway, according to reviews. Furthermore, the BaFin warning indicates that the company is also present in Germany. It looks like QuantumMarket is targeting European clients, so be aware that this is a fraud and don’t accept any offers coming from it.

Traders About QuantumMarket Scam

QuantumMarket reviews are mainly directed towards withdrawal issues. Yet, clients are experiencing problems with investing as well, since the Web trader seems to be of most times and there are not enough trading tools. Also, the company’s account managers seem to care only about their salaries, and instead of assisting clients in the investing process, they’re trying to extort money in any way possible.

Also remember the names of the Finexico, Glare Markets and BDSwiss trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

How Does Online Trading Scam Work?

The online trading scam starts from brokers such as QuantumMarket approaching clients and convincing them they’re something that they are not. For example, if a broker gives you their address in the UK, you will think it’s their official location. Even the explanation about lower taxes offshore will make sense.

However, once you pay your money and try to withdraw it, you will understand that the real reason for hiding offshore is to be away from regulatory supervision and any kind of penalty for conducting fraud.

Scammed by QuantumMarket? – Tell Us Your Story

If you fall victim to the QuantumMarket scam, let us know. Our experts are here to assist you in filing a dispute and requesting a chargeback.

But What Is A Chargeback?

Simply speaking, a chargeback is a process where your bank refunds you by taking money back from the merchant. You need to provide sufficient evidence showing that you have been scammed to start the procedure.�

Meanwhile, to understand better what kind of evidence you need, contact us via online chat. Book a free consultation with our experts, who will evaluate your case and assist you with the matter.

What Is QuantumMarket?

QuantumMarket is a fraudulent online Forex and CFD trading provider.

Is QuantumMarket a Scam Broker?

Yes, broker has been blacklisted in Germany and marked as a scam firm.

Is QuantumMarket Regulated?

QuantumMarket is not regulated and provides financial services illegally.

If you want to protect yourself online and not get scammed, you better read our VerifyFX Review. Here you have all the answers regarding this fraud.

We’ve analyzed this website’s content – regulation, trading platform, leverage, account types, funding methods, etc. This review is based on facts, not speculations, so please give it a read.

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Is VerifyFX a Scam Broker?

VerifyFX is essentially an anonymous website. The company called VerifyFX exists only in the warnings issued by regulatory authorities. There’s no physical address that we could check.

In the legal documentation, this phony claims that the brokerage operates under Estonian laws, which is a lie. The majority of anonymous scammers use the exact same text.

Hence, VerifyFX is unregulated. You have no reason to trust scammers like VerifyFX or Royal Oak Investment. Instead, find a reliable provider that is regulated by reputable financial market authorities such as the FCA, BaFin, FINMA, CFTC, ASIC, MAS, IIROC, etc.

You will thus be entitled to numerous perks such as segregated funds, negative balance protection, compensation in case the broker goes insolvent, leverage restriction, etc.

Warning Issued by Financial Authorities 

We found a series of warnings issued against VerifyFX. A total of five European regulators have flagged this financial swindler as a scam. The regulators are the Spanish CNMV, Dutch AFM, Norwegian FI, Belgian FSMA, and Finnish FSA. 

All of these bodies implement the trading laws and regulations of the European Securities and Markets Authority (ESMA). Each broker received a MiFID passport under ESMA. VerifyFX claims to possess one but these warnings beg to differ.

The Opinions of Traders On VerifyFX

More proof that VerifyFX is a scammer! On PersonalReviews, we found a complaint against the broker. This unfortunate victim explains how she got scammed. Withdrawal issues were expected.

Yep, they got me this morning… I started getting a dozen phone calls from various locations across the country and my account log-in “no longer existed”… Lodging complaint and charge-back with my bank in the morning and also submitting formal complaint to Australian Securities Investment Commission… Pity their internet search and false reviews websites flood the search results.

– PersonalReviews user, April 1, 2023.

VerifyFX’s Platform

There is only one instance of mentioning a trading platform on VerifyFX’s website. It’s in the FAQ section, of course. Here the scammer promises the world-famous MetaTrader 4.

MT4 is an outstanding trading platform with cutting-edge features and tools. Traders can utilize automated trading, multiple timeframes, a user-friendly interface, etc.

However, we highly doubt that VerifyFX actually offers this platform. There’s no demo account so we couldn’t check. Even if there is an MT4 platform, we wouldn’t download it because VerifyFX is unregulated and blacklisted.

Which Financial Instruments Does The Platform Include?

In order to make this foul scheme seem legit, VerifyFX promises the following trading assets:

• Forex currency pairs;
• Indices;
• Commodities;
• Shares;
• Crypto.

VerifyFX’s Countries Of Service

Based on our research, VerifyFX was all over the place. This scammer tried to infiltrate several jurisdictions around the world. And managed to piss off several financial authorities. Here’s the list of countries where VerifyFX tried to find victims:

• Australia;
• Netherlands;
• UK;
• Portugal;
• Canada.

Account Options Offered by VerifyFX

Let’s make an overview of VerifyFX’s fraudulent account types:

• Green – 5,000 EUR;
• Premium – 15,000 EUR;
• Platinum – 50,000 EUR;
• Executive – 100,000 EUR;
• Presidential – 250,000 EUR.

Each type offers various perks, which are just bogus promises. As you can see, these minimum deposit requirements are insane. Imagine having to pay 5,000 EUR just to open a basic account tier.

No doubt these funds will get embezzled as soon as you deposit them. Please avoid investing in deceitful websites such as this one and EpsilonFx.

Leverage, Spreads and Fees

The maximum leverage that VerifyFX offers is 1:200. It’s a dead giveaway that this is not a legit onshore brokerage. The regulatory cap in Europe is 1:30 for retail clients.

Extremely high leverage is a double-edged sword but it often results in losses. As for the spreads, the levels are too wide to be profitable. For instance, the Basic account offers a spread of 2.5-3 pips, double the industry’s standard. 

Can a Trader Use a Demo Account?

No. VerifyFX even openly said it in the FAQ section. The unscrupulous broker stated that only live accounts were available. Yet another reason not to invest in this fake brokerage.

Legit providers always include a risk-free demo account you can open to see the trading platform and try out trading.

VerifyFX’s Affiliate Program

VerifyFX was cunning enough to include an affiliate program. However, the text of this page was definitely taken from somewhere else.

We say that because we’ve seen it countless times before. It’s undoubtedly a Ponzi scheme designed to draw as many clients as possible.

The fraudster promises rewards and commissions for every new member you bring in. Do not do it, you won’t be doing your friends any favors.

Terms of Service for VerifyFX 

This is the same case as with the affiliate program. The Terms and Conditions document is definitely not authentic. A dead giveaway is the Estonian jurisdiction part.

Also, the broker claims that all disputes are to be resolved before the courts of the United Kingdom. It’s a terrible and misleading lie. The whole legal documentation of this website is fake.

Withdrawing Profits From Your Broker Account

According to VerifyFX’s withdrawal policy, the available payment methods are the following:

• Credit/debit cards;
• Wire transfers.

When it comes to fees, for withdrawing “over 20% of profits or closing your account you will be required to pay Management fees/ Swap fees/ Liquidity provider fees, in order to complete the Withdrawal/Closure process.”

But here’s the issue – the text continues – “fees will be required to be paid up-front as the

segregation of the account does not give us the option to perform a deduction.” It’s illegal for a broker to demand up-front fees for performing withdrawals!

What Should I Do If I Got Scammed By VerifyFX?

If you have evidence that VerifyFX violated any terms and conditions, please let us know. You can also write a complaint on the forums to warn fellow traders.

We can assist you in getting your money back. Book a free consultation with our team and find out how the chargeback process works!

• If you need help with chargebacks, book a free consultation with our chargeback specialists who will help you to regain your money.

What Is VerifyFX?

VerifyFX is an anonymous cyber trading scam that promises legit trading of FX pairs and CFDs on assets.

Is VerifyFX a Regulated Broker?

No. VerifyFX has been blacklisted by five European regulatory authorities.

Does VerifyFX Have a Referral Program?

VerifyFX offers an affiliate program, which is actually a shady Ponzi scheme in disguise.

Does VerifyFX Offer a Demo Account?

No. VerifyFX does not offer a demo account, per the website’s FAQ section.

Royally shameless and absolutely ruthless in their unscrupulous methods, the RoyalDiam broker even goes as far as to come up with false authorities that have allegedly licensed them. 

Of course, it doesn’t take a rocket scientist to see through the illusion. That’s why we highly recommend you to read the following RoyalDiam review in its entirety before you get swindled out of your money. 

All the Fake Regulators Involved

This isn’t the first or the last illicit brokerage platform that lists these two alleged regulators as their supervisory entities:

• European Financial Comission (yes, the spelling mistake is original)
• Canadian Financial Industry Regulatory Authority (CADFIRA)

Fintelegram has already written about some of the fake regulatory entities, and these two are also examples of that. The thing is that illegal brokerage platforms connect with these charlatans to facilitate the process of luring in new victims and impersonating reputable, licensed firms.

Nothing else about this firm is known, save for a fake address in Monaco. Legal docs actually list Vanuatu courts to have the exclusive legal jurisdiction over the conduct. 

At this point, we’re certain the RoyalDiam regulation doesn’t exist, as we’ve already inquired with FCA, CySEC, BaFin, FINMA and others. Only a warning exists, published by the Central Bank of Russia (CBR).

Even more strictly regulated entities can be dangerous so we also warn our audience to be cautious when dealing with RoboMarkets.

Piggybacking on an Old Domain

The royaldiam.com domain has been out there for a while, dating all the way back to 2015. The company hasn’t been around for nearly as long, as the site was owned by a now dissolved diamond retail business until 2023.

Examining the web traffic, we’ve managed to pinpoint the target nations for the fraud:

• Italy
• Germany
• Austria
• Poland

Outside of a few Medium posts that advertise the firms’ alleged quality of service, the scheme doesn’t have any online presence. Getting new victims to invest with the company is done by boiler room agents.

The strategy is widely used in various fraudulent circles, PredCoin being another example. It involves contacting the mark directly, and following a predetermined script to lull them into a false sense of trust.

Manipulating Online Ratings

The ratings score of this company is incredible, with an average of 4.16 stars on SiteJabber, and 4.2 on TrustedReviews! This, of course, is not a natural outcome of high quality service, but the work of review seller networks. The company has paid for deceptive RoyalDiam reviews in an attempt to improve the rating.

That’s not all, as employees of this boiler room work very hard to maintain a positive reputation. So hard, in fact, that they’re flagging any negative feedback from actual clients as “harmful or sensitive content” on TrustPilot.

Offshore Leverage Ratio and Other Terms

Characteristic for anonymous, off the grid fraudulent companies, this online trading portal also offers leverage higher than anything allowed in properly supervised countries. The maximum ratio is set to 1:100, but we doubt that’s the highest offered. 

Absolutely no other costs, commissions and trading parameters are even remotely mentioned. From inside the platform we found the spreads on EUR/USD to be 2 pips, which is quite pricier than on world renowned platforms.

Ridiculously Bad Features

Calling the trading environment found on the RoyalDiam markets basic would be an insult to any streamlined trading apps out there. It’s basically just a placeholder, intended to keep the victims occupied while they squander their account balance.

Nevertheless, this wouldn’t be an impartial royaldiam.com review if we didn’t do a thorough analysis.

Barebone Trading Software

The main trading app is a Web Trader, and it’s pretty rudimentary even by Web Trader standards. There’s a simple charting tool, as well as some basic amenities like one-click trading. Stop loss is supported, however there is no Limit Order functionality.

The mentioned trading chart seems to be imported from a third party source at first glance.  When you compare the prices and market shifts, though, you’ll see that the con artists are manipulating their data.

Markets to Trade on

The site only presents partial info about available instruments through several TradingView widgets. Several tradable asset groups we detected on the platform itself were:

• Currencies (EUR/USD, EUR/CHF, USD/CAD)
• Commodities (Livestock, Silver, Cocoa)
• Indices (CAC, Dow, Dax, Nasdaq)
• Crypto (BTC, BNB, DOGE)
• Shares (Nvidia, Microsoft, Tesla)

Needlessly Costly Accounts

Looking at the RoyalDiam investment accounts, we can see a tier system common with various charlatans. To make the different accounts stand out, the con artists claim some nonsensical benefits.

The most expensive account, for instance, has both deposit insurance or deposit protection. What’s the difference, we hear you ask? Nothing, they’re just fancy words to sway unwary clients.

Here’s an overview of account prices:

• Newbie – $150
• With Experience – $1,000
• Professional – $10,000

Discrepancies With Payments

Some heavy AML breaches are immediately obvious once you try to deposit or request a RoyalDiam withdrawal. While credit cards are the only funding method accepted, payouts are actually done via crypto and wire transfers. 

Another red flag is the fact that legal documents or the site itself reveal very little details about withdrawals. We could only find that payouts can be requested after 20 banking days since the deposit. All of the fees that might be involved in the monetary transactions are deducted by the company directly from the client’s total balance.

Nobody Cares About Clients

Many fraudsters try to maintain some semblance of customer support at least, in an attempt to keep their prey hooked for longer. Here, there’s no such thing as RoyalDiam support. 

The contact number that is provided on the site is a virtual number that doesn’t belong to any actual landline, and any emails just bounce back.

Steps to Recover Lost Funds

Blacklisted, fraudulent organizations of all kinds only have one thing in mind: to rob you of your hard earned cash. Therefore, we compel you to fight back and not give up on what is rightfully yours. Where there is will, there is way.

With the help of our legal assistants and legal professionals, you too can take the necessary actions and take back your stolen capital. For more info contact our chat agents and book your first consultation absolutely free of charge!

FAQ Section

What is RoyalDiam?

It is an unregulated offshore broker that tries to seem legit by posting alleged licenses issued by fake regulators.

Is RoyalDiam Regulated?

No, any licenses that are posted on the royaldiam.com website are fakes issued by known fraudulent organizations.

How to Recover Money From a Scam Broker?

Contact our legal experts for help with asset recovery. We are available 24/7 via the live chat, and our first consultation is free of charge!

One of the first irregularities you can see about this firm is that legal names and documents are missing. Yet, they expect you to trust them for some unknown reason. Anyway, if the company had regulation, the whole story would be different.

So, let’s find out in this CapitalexPro review what diversifies this company firm from any other swindlers. For instance, the ones you can see in our XtmeGlobaltrades review.

Legal info: Is CapitalexPro Legit or a Scam?

As we can see, the company presents itself as UK-based. This makes the whole research a whole lot easier. Whether for experienced or inexperienced traders. Simply, you just have to check the company’s regulations in the FCA register. Sadly, such details were not found. Instead, we came up with the warning nothing less but from the FCA itself.

It seems that this firm is well known to European authorities. Proof of that can also be seen in CONSOB, FI, and CNMV warnings as well. Now, when you see the company claiming to be safe and secure, you definitely know they are lying.

Who are CapitalexPro’s Victims?

The problem with unregulated brokers is that they are targeting whomever they want. In most cases, those are traders from highly regulated countries. Luckily, CapitalexPro reviews reveal a part of it. Most of the victims come from:

• Spain
• Portugal
• France
• Sweden
• United Kingdom

Since there are already multiple warnings about CapitalexPro broker, don’t be surprised if they vanish. After all, this is the company’s third domain in recent history. If they disappear and your money is stuck with them, feel free to contact our refund team for advice.

Traders Reviews

Non-surprisingly, CapitalexPro trading firm has one of the worst reviews we have ever seen. In fact, almost 90% of the comments are negative. Yet, the number of comments is not small at all. There are 66 of them available on Trustpilot. But who knows how many traders didn’t even share their opinion.

For that reason, we encourage anyone, regardless of experience, to share their story. Ultimately, it can help other people avoid this bogus scam. But also, it can help our team build you a refund strategy.

Leverage, Commissions, Spreads, Fees, and Taxes

Another way to expose the company’s fraudulent services is through its leverage. All European brokers, especially UK ones, can offer maximum leverage of up to 1:30. At least for retail customers.

Yet, with this one, you can get up to 1:200. Not to mention, the company is not revealing trading costs, such as spreads, fees, overnight swaps, and others. Check out our Roi Republic review to see how that can impact your results.

Bonuses

Since T&Cs are hidden, there’s no way to find out what are the bonus conditions. But it’s quite clear the company offers some.

Most likely, there will be a clause where you have to reach some minimum trading volume. If you see something like that, apply for a withdrawal immediately!

CapitalexPro Trading Features

When you think of trading features, you usually think of advanced ones. Such as EAs, copy, and social trading. Nowadays, AI technologies are making things even more interesting. However, most of those are available on the CapitalexPro platform. Except for social trading, but even that is speculative.

Trading Platforms Available

Some top-tier platforms traders prefer are cTrader and Meta Trader. With a wide range of options available, these quickly became leading options in the industry. On top of that, these can be recognized as trusted. Unlike the web-based platform that CapitalexPro company offers.

Most importantly, this company’s platform has only basic functionalities available. Moreover, such platforms can be easily manipulated. So, you have enough signs to avoid it.

Available Trading Assets

Tradeable assets with scam brokers are the traders’ last concern. If the withdrawal issues are possible, nothing else matters. Even though indices are missing, the other four categories are solid-covered. For instance: 

• Forex – EUR/AUD, USD/JPY
• Commodities – natural gas, aluminum
• Shares – IBM, AMD
• Cryptos – BTC, DOT

Account Types

As can be seen, there are various account-type options with this broker. Yet, none of the accounts bring some significant benefits if you deposit more money. Only a few educational benefits, fake education, and support options. In exchange, they will keep asking for more and more money. Anyway, the minimum to start with is $250, but expect very shortly to get persuaded to deposit at least $10k. All the options are:

• Bronze – 10.000 EUR
• Silver – 25.000 EUR
• Gold – 50.000 EUR
• Platinum – 100.000 EUR
• Diamond – 250.000 EUR
• Premium – 500.000 EUR

Mobile Trading App

One of the biggest disadvantages of unregulated firms and web-based platforms is a lack of reliable iOS and Android mobile apps. Consequently, traders who prefer trading on the go and taking copy-trading advice can’t do so unless are they by their desktop machines.

Demo Account

Unfortunately, registration with this broker won’t bring you benefits like a demo account. You have to either deposit money or back out of the deal. Anyway, testing of the features with virtual funds is not available.

Education

As can be seen, the company is advertising webinars, VOD, CMTrading e-books, and much more. Thus, none of that is something they should charge you half a million for. 

Anyway, the offer is potentially good, but not for that money. Especially when you can find far more reliable material anywhere online for free.

CapitalexPro Withdrawal

Another disadvantage is that the company has quite a poor CapitalexPro withdrawal policy. Apparently, there are four options available for withdrawal: bank transfer, card transfer, Neteller, and Skrill. Even though the processing time is said to be up to 5 business days, with scam brokers that’s mostly longer. Especially due to hidden fees.

Customer Support

On the positive side, the company at least appears to have legitimate support. Thus, many traders reported it as trash. With availability 24/5 from Monday to Friday, they can’t be compared to some top-notch firms. For contact options, you will have an e-mail, a UK phone line, and a web contact form.

Key Information To Consider About CapitalexPro

Everything about this brokerage sounds cheesy. Starting with the registered address, contact details, and platform. Not to mention non-transparent trading conditions and missing regulations. As the cherry on top, there are the company’s reviews.

These should be more than enough reasons to avoid CapitalexPro scam broker. However, if they tricked you somehow, don’t hesitate to contact our refund specialists for a free first consultation. Book yours already today!

FAQ Section

What is CapitalexPro?

CapitalexPro is a fake investment firm allegedly based in the United Kingdom that has been operating since 2023.

Is CapitalexPro Regulated?

No. The company is not licensed by any trusted authority. Instead, there are multiple warnings issued against them.

How to File a Chargeback Dispute?

Once you gather all the information you can contact our card issuer and provide them with details. But for detailed guidance, you can contact our chargeback experts.

FiveStarBit company presents itself as a globally recognized and regulated institution. Yet, they are not brave enough to share legal names or documents. When it comes to the company address, it’s hard to fake it because nobody is willing to test it out.

Anyway, once you find out all the tricks this broker is using, you’ll be safe in many cases. Therefore, make sure you remember all the tips we reveal in this FiveStarBit review.

Legal info: Is FiveStarBit Legit or a Scam?

Since the company presents itself as Swiss-based, our first stopping station is FINMA. That’s the main regulator in Switzerland and is known for strict requirements and quick exposing of scammers. However, this brokerage is not found in the regulatory register, neither is on the warning list. At least not for now.

Without success there, we always choose to check top-tier regulators, such as FCA, BaFin, ASIC, IIROC and CFTC. Practically, wherever you are coming from, these are always safe choices. Still, the results were disappointing, and the company’s license number was not found. 

The last option was to check the CySEC database since the firm claims to be regulated there. Yet, it’s just another lie from this scam firm.

Who are FiveStarBit’s clients?

Through the company’s website, we can see they mention to be active for more than 11 years. Yet, the company’s domain was registered in September 2023. That’s another lie served by them. 

Anyway, if you are coming from the following countries, be careful: 

• Finland
• Sweden
• United Kingdom

Yet, regardless of your country, we encourage you to share your experience with this firm. Ultimately, FiveStarBit reviews can help traders avoid this company’s traps. Also, you can contact us directly if you need advice on a refund.

Traders Reviews

Generally, a few reviews that are available on the Sitejabber platform can’t reveal the truth. Especially when you know the broker is misleading traders about regulations. 

Even though those look quite positive, it’s hard to believe traders have positive experiences with this broker. Anyway, if you experience anything that you find irregular, contact us for consultation.

Leverage, Commissions, Spreads, Fees and Taxes

Important to realize is that this scam broker is quite conservative when it comes to sharing trading conditions. Just briefly, they mention traders can expect spreads from 0 pips on Forex pairs. However, “from” is the keyword there. It’s never that low with unregulated scam brokers.

Regardless of that, traders don’t know the leverage, commissions, or any other trading-related fees. So, why would you trust them with your money?

Bonuses

Unfortunately, the company’s T&Cs, therefore, bonus policy, are not revealed. But if you get any bonus deals, make sure to skip it. But what you shouldn’t skip is our FXleader review.

FiveStarBit Trading Features

As can be seen, the company is promoting some quite shady features. Such as business planning, investment planning, personal wallet creation, and secured transactions. 

Yet, the only thing that is true is that there is a crypto wallet opening. That’s the only way for them to steal money without leaving traces.

Trading Platforms Available

In addition to all these shady features, the company offers a web-based platform. They couldn’t provide a worse option on top of all their flaws. In any case, you can forget about copy trading, social trading, EAs, or any other advanced feature.

Available Trading Assets

Usually, tradeable assets can make a big difference when you are choosing a broker. Yet, if the broker is not legit, that becomes quite irrelevant. Anyway, the company’s offer consists of: 

• Forex – USD/AUD, EUR/HKD
• Commodities – crude oil, natural gas
• Shares – Tesla, Netflix
• Indices – CAC40, S&P500
• Cryptos – ETH, LTC

Account Types

In general, the FiveStarBit account types only reveal some highly questionable features, such as VIP events, no-fee withdrawals, managed accounts, and more. Yet, none of those reveal trading conditions provided to traders. 

Still, they will ask you to deposit for: 

• Basic – $5.000
• Gold – $20.000
• Premium – $50.000

Mobile Trading App

Without FiveStarBit regulation, none of the company’s features matter. If there were any relevant. 

Sadly, the situation is the same when it comes to trading on mobile devices. None of the trusted options are available. So, traders have to go through trouble called “trading via browser.”

Demo Account

Since there’s only FiveStarBit WebTrader available, a demo account would be more than the preferred option. Still, the company doesn’t care about it because they know someone will fall for their scamming tricks. 

But to learn how to avoid those pitfalls, make sure to read our Deltafx review.

Education

One of the key things in trading is knowledge. Therefore, adequate educational programs are a must with top-tier companies. But the ones that just want to scam you will often offer signals, personalized trading alerts, and basic education. Like in the case of the FiveStarBit broker.

FiveStarBit Withdrawal

If you haven’t realized so far that withdrawals practically don’t exist with this broker, nothing will convince you. Still, there are a few more facts you should know. 

Firstly, the company doesn’t reveal withdrawal methods. Secondly, they don’t reveal the withdrawal processing time. Lastly and most importantly, withdrawal fees are hidden. That looks like a recipe for a scam.

Customer Support

Another FiveStarBit scam sign is the company’s support. Apparently, they are offering 24/7 support. But only through e-mail since none of the other options are available. 

However, there’s a hint of what other platforms the company is using. That’s Telegram, primarily due to the app’s encryption features. In any case, don’t raise much hope this broker will respond if you are looking for your money.

Key Information To Consider About FiveStarBit

Everything about this brokerage is suspicious. But the most disappointing thing is that they are lying to be regulated. That’s the only thing you practically need. Everything else can save you in some other cases. Anyway, if you have your funds stuck with this broker, don’t hesitate to reach out to us.

Our first meeting is non-obligatory and completely free. Yet, the information collected is priceless. Don’t wait anymore; contact us today.

FAQ Section

What is FiveStarBit?

FiveStarBit is a broker allegedly registered in Switzerland that has been operating only for a couple of months and not 11 years as they claim.

Is FiveStarBit a Legit Broker?

Absolutely not. Primarily because of bogus lies about regulation. But also because they are hiding key details like conditions, withdrawal procedures, and fees.

What is a Chargeback?

Disputed transactions that result in reversing card transfers are called chargebacks. To get started with yours, send us a message.

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Unomi Review 2024 – Is Unomi legit or a scam?

One major problem in the ever-evolving world of online trading and investing is the proliferation of fraudulent companies posing as reliable brokers. Due to alleged fraudulent activity, Unomi has lately gained notice, raising concerns and requiring careful examination. Our goal in providing an unbiased assessment through our thorough Unomi review is to provide verified facts and data that were gathered from reliable and respectable sources.

Unomi claims to be managed by Unomi Innovative Ltd, purportedly registered with the Marshall Islands Registry. However, our search within the IRI yielded no corresponding results.

The reality is that Unomi lacks valid regulation from any authorized regulatory entity for forex operations. Consequently, investors’ funds within this brokerage are at risk and remain devoid of legal protection. Unomi poses a risk to investors’ funds as it operates without regulatory oversight.

Unomi Website – https://unomi.cc/index.php/en/

Website Availability – Yes

Address shown – Marshall Islands 

Warned By – Not recommended by review website like Report Scam

Domain Age of Unomi

Domain Name: UNOMI.CCRegistry Domain ID: 184448482_DOMAIN_CC-VRSNRegistrar WHOIS Server: whois.namecheap.comRegistrar URL: http://www.namecheap.comUpdated Date: 2023-10-19T08:15:35ZCreation Date: 2022-11-18T09:57:18ZRegistry Expiry Date: 2024-11-18T09:57:18Z

Important indicators that show if Unomi is a fraud or not

Unregulated Status

One of the key warning signs highlighted in the Unomi Review that investors should be wary of is the absence of regulation and licensing. Legitimate brokers must acquire licenses from reputable financial regulatory authorities, a critical measure to ensure compliance with strict industry standards and regulations.

Poor Customer Support and Withdrawal Issues

Delayed or refused withdrawal requests are a common tactic used by scam brokers to hold onto their victims’ money and deter them from leaving the site. When funds are unavailable or take a long time to arrive, customers get irate and start to doubt the company’s honesty.

Negative Reviews and Scam Reports about Unomi

The presence of ample negative feedback and scam reports from clients and industry professionals, as emphasized by Unomi Review, is a telltale sign of a scam broker. The existence of negative reviews and reports of scams related to Unomi serves as a red flag for potential investors. Several reports of fraudulent operations, immoral behavior, and financial losses raise doubts about the company’s credibility. Before entrusting their investments to any brokerage firm, potential clients should conduct research and examine the experiences of others with Unomi.

Investors should take heed of negative reviews and scam reports associated with Unomi, as these instances may indicate potential risks and issues that could affect their financial interests. To protect your financial interests, it’s critical to stay knowledgeable and vigilant.

Heightened Risks for Investors

Dealing with unregulated and unlicensed brokers significantly increases the risk of encountering fraudulent practices. The lack of clear regulatory oversight and licensing raises concerns about the broker’s credibility and the safety of clients’ assets. It is imperative to approach such brokers with caution, conducting thorough due diligence to protect your financial interests.

How to Guard Your Investments Against Fraud

Although trading in financial markets such as cryptocurrency, binary options, and forex may be profitable, there are hazards involved such as the possibility of coming across dishonest brokers. A proactive and vigilant strategy is necessary to safeguard your investments against fraudulent businesses and frauds such as Unomi. When interacting with questionable brokers, take into account the following precautions:

• Before engaging a broker, do extensive research on the broker’s legitimacy. Investigate licenses, regulatory status, and track record.
• Check online Unomi reviews, forums, and social media platforms for feedback and experiences shared by other traders. This can provide valuable insights into the broker’s reputation and reliability. You can also check our list of scam brokers 2024.
• Only choose brokers that are properly regulated and licensed by recognized financial authorities.
• Ensure the broker has a physical address and contact details that can be verified.
• Read through their terms and conditions, privacy policy, and risk disclosures to understand their policies and procedures.
• Evaluate the broker’s customer support services before opening an account. Prompt and efficient customer support is essential for addressing queries, concerns, and issues.
• Be wary of brokers that make extravagant promises, such as guaranteed profits or high returns with minimal risk.
• Remember that trading involves inherent risks, and no broker can guarantee consistent profits.
• Review the broker’s withdrawal policies and procedures. Ensure they provide clear and straightforward processes for withdrawing funds.
• Don’t rush into decisions. Take the time to evaluate all aspects of a broker’s legitimacy and make an informed choice.

Traders can lessen their risk of falling victim to Unomi or other scams and preserve their financial assets by following the above mentioned suggestions and keeping cautious. Keep in mind that extensive research and due investigation, such as reading a Unomi review, are critical to ensure a safe and dependable trading experience.

Victimized by the Unomi scam? Get your lost money back!

Get a Free Consultation

If you are the one who got scammed by Unomi or other fraud, the best solution recommended for getting your lost money back is Report Scam Community

We are one of the few legit recovery assistance organizations that are concerned with a victim’s recovery from losses. We are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free consultation and anyone can register by filling out a very short complaint form.

Unomi Review: Unomi Scam Conclusion

As the Unomi Review indicates, there are solid indications that Unomi may be a scam, and these worries are tough to dismiss given the characteristics and facts that are often associated with fraudulent organizations. Traders and investors should exercise great caution when selecting a broker, making sure to choose a reputable, licensed, and regulated organization. Ensuring the legitimacy of a broker, seeking objective assessments, and conducting thorough research are all essential measures in preventing fraud and monetary losses.

Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions.

Read about Chargebacks

To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2024 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.

Note: The Unomi review written above is influenced by the other Unomi reviews already present on the web. We are not liable for any legal action from the Unomi company. In case of any query please mail us at info@reportscam.net.

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5 (1)

Fx Capitalindex Review 2024 – Is Fx Capitalindex legit or a scam?

One major problem in the ever-evolving world of online trading and investing is the proliferation of fraudulent companies posing as reliable brokers. Due to alleged fraudulent activity, Fx Capitalindex has lately gained notice, raising concerns and requiring careful examination. Our goal in providing an unbiased assessment through our thorough Fx Capitalindex review is to provide verified facts and data that were gathered from reliable and respectable sources.

Fx Capitalindex asserts itself as a dependable company but fails to provide any details regarding its regulatory status. Situated in the United States, our search within the National Futures Association (NFA) yielded no corresponding results.

In reality, Fx Capitalindex lacks valid regulation from any authorized regulatory body for forex trading. Consequently, investors’ funds within this brokerage are at risk and remain devoid of legal protection. Fx Capitalindex operates without regulatory oversight, posing a risk to investors’ funds.

Fx Capitalindex Website – https://www.fx-capitalindex.co.uk/

Website Availability – Yes

Address shown – 3238 Doctors Drive, Los Angeles, California, 90017 USA

Warned By – Not recommended by review website like Report Scam

Domain Age of Fx Capitalindex

Domain name:fx-capitalindex.co.ukData validation:Nominet was able to match the registrant’s name and address against a 3rd party data source on 01-Dec-2023Registrar:Hosting Concepts B.V. [Tag = REGISTRAR-EU]URL: https://www.openprovider.comRelevant dates:Registered on: 19-Aug-2022Expiry date: 19-Aug-2024

Important indicators that show if Fx Capitalindex is a fraud or not

Unregulated Status

One of the key warning signs highlighted in the Fx Capitalindex Review that investors should be wary of is the absence of regulation and licensing. Legitimate brokers must acquire licenses from reputable financial regulatory authorities, a critical measure to ensure compliance with strict industry standards and regulations.

Poor Customer Support and Withdrawal Issues

Delayed or refused withdrawal requests are a common tactic used by scam brokers to hold onto their victims’ money and deter them from leaving the site. When funds are unavailable or take a long time to arrive, customers get irate and start to doubt the company’s honesty.

Negative Reviews and Scam Reports about Fx Capitalindex

The presence of ample negative feedback and scam reports from clients and industry professionals, as emphasized by Fx Capitalindex Review, is a telltale sign of a scam broker. The existence of negative reviews and reports of scams related to Fx Capitalindex serves as a red flag for potential investors. Several reports of fraudulent operations, immoral behavior, and financial losses raise doubts about the company’s credibility. Before entrusting their investments to any brokerage firm, potential clients should conduct research and examine the experiences of others with Fx Capitalindex.

Investors should take heed of negative reviews and scam reports associated with Fx Capitalindex, as these instances may indicate potential risks and issues that could affect their financial interests. To protect your financial interests, it’s critical to stay knowledgeable and vigilant.

Heightened Risks for Investors

Dealing with unregulated and unlicensed brokers significantly increases the risk of encountering fraudulent practices. The lack of clear regulatory oversight and licensing raises concerns about the broker’s credibility and the safety of clients’ assets. It is imperative to approach such brokers with caution, conducting thorough due diligence to protect your financial interests.

How to Guard Your Investments Against Fraud

Although trading in financial markets such as cryptocurrency, binary options, and forex may be profitable, there are hazards involved such as the possibility of coming across dishonest brokers. A proactive and vigilant strategy is necessary to safeguard your investments against fraudulent businesses and frauds such as Fx Capitalindex. When interacting with questionable brokers, take into account the following precautions:

• Before engaging a broker, do extensive research on the broker’s legitimacy. Investigate licenses, regulatory status, and track record.
• Check online Fx Capitalindex reviews, forums, and social media platforms for feedback and experiences shared by other traders. This can provide valuable insights into the broker’s reputation and reliability. You can also check our list of scam brokers 2024.
• Only choose brokers that are properly regulated and licensed by recognized financial authorities.
• Ensure the broker has a physical address and contact details that can be verified.
• Read through their terms and conditions, privacy policy, and risk disclosures to understand their policies and procedures.
• Evaluate the broker’s customer support services before opening an account. Prompt and efficient customer support is essential for addressing queries, concerns, and issues.
• Be wary of brokers that make extravagant promises, such as guaranteed profits or high returns with minimal risk.
• Remember that trading involves inherent risks, and no broker can guarantee consistent profits.
• Review the broker’s withdrawal policies and procedures. Ensure they provide clear and straightforward processes for withdrawing funds.
• Don’t rush into decisions. Take the time to evaluate all aspects of a broker’s legitimacy and make an informed choice.

Traders can lessen their risk of falling victim to Fx Capitalindex or other scams and preserve their financial assets by following the above mentioned suggestions and keeping cautious. Keep in mind that extensive research and due investigation, such as reading a Fx Capitalindex review, are critical to ensure a safe and dependable trading experience.

Victimized by the Fx Capitalindex scam? Get your lost money back!

Get a Free Consultation

If you are the one who got scammed by Fx Capitalindex or other fraud, the best solution recommended for getting your lost money back is Report Scam Community

We are one of the few legit recovery assistance organizations that are concerned with a victim’s recovery from losses. We are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free consultation and anyone can register by filling out a very short complaint form.

Fx Capitalindex Review: Fx Capitalindex Scam Conclusion

As the Fx Capitalindex Review indicates, there are solid indications that Fx Capitalindex may be a scam, and these worries are tough to dismiss given the characteristics and facts that are often associated with fraudulent organizations. Traders and investors should exercise great caution when selecting a broker, making sure to choose a reputable, licensed, and regulated organization. Ensuring the legitimacy of a broker, seeking objective assessments, and conducting thorough research are all essential measures in preventing fraud and monetary losses.

Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions.

Read about Chargebacks

To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2024 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.

Note: The Fx Capitalindex review written above is influenced by the other Fx Capitalindex reviews already present on the web. We are not liable for any legal action from the Fx Capitalindex company. In case of any query please mail us at info@reportscam.net.

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The broker seems to catch clients based on their false addresses and fake presentations. When you see an address in Zurich and hear that the company is in a reputable, Tier1 regulated country, it brings certain trust. However, all this is explained in detail in our DoxFX review, so let’s start.

What About DoxFX Regulation?

Claiming to be a brand owned by OICS Limited and based in Switzerland implies that the company is covered with a Tier1 license by FINMA. Of course, instead of blind trust, we decided to confirm this information. It seems that DoxFX regulation doesn’t exist with FINMA or any other regulator in Europe or further. Also, OICS Limited is not a legit Swiss company, so it’s probably another offshore entity hiding its actual headquarters.

Based on everything we’ve discovered, avoiding DoxFX seems like the best solution for your funds.

In addition to the above, we strongly advise you not to invest in TopMarketCap, RTALive and Tixee fraudulent brokers.

DoxFX Scam Warnings

Since the broker falsely claims it’s based in Switzerland, we were not surprised to see that the regulatory body of this country was the first to issue an official warning against the DoxFX scam.�

Besides, Italian authorities noticed DoxFX activities too and issued the same warning, marking the broker as a fraud.

Fund Withdrawal Issues With DoxFX Broker

Since DoxFX pretends to be legit, of course, it will tell you a nice story about withdrawals and funds being available 24/7. In fact, it will all sound so easy that you will see no reason to prevent yourself from investing and earning potential profit

Yet, once you go into everything, you will discover that the whole story was just that. A story. And you will be unable to withdraw your funds or complain to anyone since the broker has no official regulator.

Areas Of DoxFX Scam

Most of the victims of the DoxFX scam come from the US, Germany, and Japan. However, based on regulatory warnings, we can conclude that the company operates in Switzerland, Italy, and most likely other countries of the EEA zone.

It’s important to know that DoxFX provides unregulated financial services anywhere in the world, and you shouldn’t accept any offers coming from them.

Also remember the names of the Tredexo, TNFX and Altman Finance trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Traders About DoxFX Scam

As we’re sure you can already conclude, DoxFX reviews don’t look good. Traders are massively complaining about withdrawals, stating that getting money back is nearly impossible. Besides, the broker forces clients to install AnyDesk, software used to gain access to any device and online banking.

That’s how funds are being transferred without the client’s approval, which is the ultimate scam level.

How Does Online Trading Scam Work?

If you ever saw any trading ad, you know that everything starts with the broker overpromising results they can’t deliver. And somewhere inside, you are aware that the story is overblown, thinking it’s marketing. Yet, once you leave your details, even the worst story comes, where the company’s employees give you all the logical reasons you should start investing despite your terrible feeling.

And once you do, you will have a great support system until you submit a withdrawal request. This is where all of your problems will start. Your account may even get suspended and you will be unable to access your funds. If you experience something similar, let us know.

Scammed by DoxFX? – Tell Us Your Story

If you were scammed by DoxFX or a similar bogus brokerage, let us know. Our specialists will help you start the chargeback procedure and get your funds back.

But What Is A Chargeback?

A chargeback is a way for your bank to reverse the transaction in case a scam occurs. For further details, contact us via online chat and book a free consultation with our specialists.

Don’t let scammers run free with your money!

What Is DoxFX?

DoxFX is an online Forex and CFD provider without a license.

Is DoxFX A Scam Broker?

Yes, DoxFX has been blacklisted in Switzerland and Italy for conducting scams.

Is DoxFX Regulated?

No, company is not regulated and provides financial services illegally.

Once we saw who the OnyxProfit broker belonged to, we already knew what to expect. However, we decided not to judge too soon and did the entire OnyxProfit review with evidence to back up our statements.

What About OnyxProfit Regulation?

OnyxProfit is a brand owned by notorious Donnybrook Consulting Ltd. Since we’ve written about this firm a lot, we will just remind you of some of the scamming brands it’s running, such as OFXB, ABSystem, EuroFX, and more. All of these brands were blacklisted around the globe for fraudulent activities.

Since Donnybrook Consulting Ltd is from the Commonwealth of Dominica and unregulated, no wonder it doesn’t care just to open and close trading websites, luring clients into scams. If you ever come across this name, run from it as far as you can.

In addition, we strongly advise you not to invest in Elcomercio24, ProAktivMarket and SeaLTD fraudulent brokers.

OnyxProfit Warnings From Financial Regulators

Despite being established this year, OnyxProfit has already earned its regulatory warning. It came from the Italian CONSOB that warned citizens not to fall for this well-organized scheme of a well-known scamming owner.

Fund Withdrawal Issues With OnyxProfit Broker

No wonder clients have reported numerous withdrawal issues. Knowing Donnybrook Consulting Ltd and its brands, OnyxProfit will be yet another scheme that will gather money and disappear. If the firm follows its own pattern, clients who ask for withdrawals will get suspended accounts under many excuses.

Starting with the violations of the company’s policy to unpaid bonuses, account managers will give so many different reasons just to cover what’s really happening – your money is gone, and you will have to file a dispute ever to see it again.

Areas of OnyxProfit Scam

Since the broker has very few limits and doesn’t operate only in the USA, North Korea, Iran, and several other countries, everyone else is at risk. OnyxProfit complaints come from the UK, Netherlands, Germany, Australia, Canada, South Africa, and many other parts of the world.

Beware of the OnyxProfit scam wherever you are, and don’t accept offers coming from this fraudulent trading firm.

Also remember the names of the EuroFX, AvaChoice and OBRinvest trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Traders About OnyxProfit Scam

As you can guess, OnyxProfit reviews are full of negative impressions. Clients are reporting withdrawal issues, but there are other problems as well. For example, the Web trader has lags, some basic terms such as leverage are undisclosed, and in general, the entire experience turned out to be forcing clients to invest more money.

How Does Online Trading Scam Work?

Different brokers operate differently. However, all of them have in common their wish to extort money and the fact they don’t choose the means to do so. For example, many illicit offshore brokers, such as OnyxProfit, will use false ads that may even include celebrities to present their platform legit.

Yet, once you fall into the trap, you will be constantly asked to invest more without the possibility of withdrawing the funds. 

If you experience something similar, you should file a complaint immediately.

Scammed by OnyxProfit? – Tell Us Your Story

If you were scammed by OnyxProfit or a similar bogus broker, let us know. Our experts are here to listen to your story and help you find the best money-back solution.

But What Is A Chargeback?

This is a way for your bank to reverse fraudulent online transactions with supporting evidence. To understand the process thoroughly, book a free consultation with our specialists via online chat and let us assist you with the matter.

What Is OnyxProfit?

OnyxProfit is an online CFD and Forex trading provider without a license.

Is OnyxProfit A Scam Broker?

Yes, OnyxProfit has been blacklisted by the Italian CONSOB for scams.

Is OnyxProfit Regulated?

Broker is not regulated and provides financial services illegally.

Once we started researching MorganCapFX broker, we found lots of discrepancies. While the website looks entirely professional, and one may think the broker is transparent, the truth is a bit different.

Our MorganCapFX review will show you all the details. Here’s how the scam was perpetrated.

Additionally, we strongly advise you to avoid the fraudulent brokers Robexcoin, Primeinv, and W2W Capital.

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Is MorganCapFX Сrypto Trading Company Legal?

MorganCapFX claims to be a Morgan Capital Management LLP brand registered in the UK. We’re even provided with a UK address – 12 – 13 Henrietta Street, London, United Kingdom, WC2E 8LH.

Upon researching the UK’s House of Companies, we found such a company at the said address. However, this company was incorporated in June 2012 and dissolved in October 2013. Therefore, it’s not an active business and surely not related to the morgancapfx.com broker.

Furthermore, the Terms and Conditions imply that the business has been conducted under Estonian law. As an EU country, Estonia has FI, the financial regulator in charge of Forex and CFD trading providers. As you can guess, MorganCapFX has never entered its commercial register.

Reasons Not to Trust an Unlicensed Broker

Unlicensed brokers cannot be trusted for several reasons. Firstly, if they were running a legitimate business, they would have no problems obtaining a license for it.

As you can see in the example of MorganCapFX, the company owner is false, meaning that starting any legal procedure is quite challenging.

In the end, since the company is not regulated by the FCA, FI, or any other regulator, customers don’t have any money-back guarantee.

Is MorganCapFX a Scam?

MorganCapFX claims to be a UK-based broker operating under Estonian governing law. Furthermore, it doesn’t have any valid financial regulations. The trust score is low, indicating fraud.

What Do Traders Think Of MorganCapFX?

This brokerage has a whole lot of negative reviews. Customers are reporting numerous withdrawal issues. 

MorganCapFX’s employees use AnyDesk, TeamViewer, and similar apps to access clients’ mobile devices or desktops. Through it, they can control online banking and crypto wallets and wipe them off. Make sure to stay away.

What Platform Does MorganCapFX Provide?

Unsurprisingly, MorganCapFX didn’t try too hard about their trading platform. They offer quite basic web-based software already seen with numerous other scammers.

The platform has an asset overview, several charts and indicators, and an option to deposit more funds. If you want to apply any advanced strategies, participate in social trading or have a bot, you won’t be able to do so.

That’s why we always recommend MT4 or MT5. These apps are way superior and more reliable than any internet-based solution.

Access the Account From a Mobile Device

There are no mobile apps. Both Android and iOS users will have to access their accounts through a web browser, which is not a big surprise. Since the brokerage didn’t try to provide any good trading tools, they didn’t think of trading convenience either.

MorganCapFX Accounts Overview

MorganCapFX has 3 account types on offer. They are:

• Beginner – 250 EUR
• Pro – 2,500 EUR
• Expert – 25,000 EUR

The difference is in spread, leverage, and market news and reports you can access.

Welcoming and Refer a Friend Bonuses – Ways to Limit Withdrawals

While broker employees may try to convince you that the company is generous, MorganCapFX’s bonuses are a tool to prevent withdrawals. According to the bonus clause, customers cannot withdraw their funds before reaching a minimum trading volume of 25 times the deposit plus the bonus amount.

This is illegal and outrageous. And that’s why main regulators have banned incentives.

Customer Support – Communication Channels

While appearing as a legit broker, MorganCapFX is far from it. They have provided various emails and phone numbers for their clients. However, none of those are available for direct communication. 

Yet, they can reach you via phone calls, emails, messages, WhatsApp, Telegram, and other means. Once they decide to vanish with your funds, they’ll block your contact and leave you with no information.

MorganCapFX – Countries Of Service

The MorganCapFX trading scam is mainly conducted in:

• Italy
• Spain
• Albania
• Germany 
• UK

Also, avoid the trading frauds Axiance, HubbleBIT, and Absolute Markets at all costs! Moreover, before investing, always look into the past of internet trading firms!

MorganCapFX Range of Trading Markets

Customers can trade in five major markets, those being:

• Cryptocurrencies – BTC, ETH, USDT
• Forex – EUR/USD, AUD/CAD, GBP/ZAR
• Commodities – gold, coffee, cotton
• Stocks – Tesla, Microsoft, Apple
• Indices – NIKKEI225, S&P500, CAC40

Despite the solid-looking offer, bear in mind that this firm is unlicensed.

What Is Known About MorganCapFX’s Trading Conditions?

Trading conditions, mainly spread and leverage, are used to assess trading risks. Regulators in all major jurisdictions have a strict leverage limit of up to 1:50 since handling it poorly can cause monetary losses.

Additionally, spread and swap will determine trading costs. You will lose most of your profit by paying broker commissions if they’re too high.

Too High Leverage and Spreads

The leverage with MorganCapFX ranges from 1:50 to 1:300. It’s way above the regulatory cap.

The spread for the Beginner account starts at 0.1 pips, while the Pro and Expert bring 1.2 and 1.3 pips, respectively. The last two accounts also have trading commissions of 0.2-3.5 EUR per lot.

MorganCapFX’s High Fees – Withdrawal Policy

According to Withdrawal Policy, the broker charges too high fees. Those are $50 for wire transfers and $25 for credit cards with an additional $10 processing fee. 

Additionally, there’s a levy fee of 10% for accounts that don’t reach 200 in a rollover, that being $2 million.

The minimum withdrawal amount is $250 for bank transfers and $100 for other methods, which is quite limiting.

MorganCapFX Minimum Deposit and Deposit Methods 

According to its policy, customers can make a deposit using:

• Debit/credit cards
• Wire transfer

The minimum starting amount is 250 EUR. Knowing that legit firms allow you to start at as low as $10, we don’t see a reason to risk this with this fraudulent scheme.

Scammed by MorganCapFX Broker? – Let Us Hear Your Story

If you were scammed by MorganCapFX or a similar bogus broker, let us know. Book a free consultation with our chargeback experts and we’ll evaluate your case.

Don’t let scammers run with your hard-earned money. Let’s fight for it together!

But What Is A Chargeback?

This is a way for your bank to recover your funds directly from the merchant. If you have any issues, let us know. We’re ready to help you out with the refund process.

What Is MorganCapFX?

MorganCapFX is an online trading brokerage allegedly based in the UK.

Is MorganCapFX a Scam Broker?

MorganCapFX is a scam broker that listed a dissolved company as the official owner.

Is MorganCapFX Available in the United States or the UK?

The company provides its services to UK residents but doesn’t operate in the US.

Does MorganCapFX Offer a Demo Account?

No, MorganCapFX doesn’t offer a Demo account and requires deposits immediately.