FraudBrokers

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Read a complete Cryptocloakfx review here. Did Cryptocloakfx scam broker scam you? File a complaint against the Cryptocloakfx broker and get back your lost funds

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Read about forex broker scams list . Fraudbrokers Team helps the victims of Forex scams in recovering funds. Complaint now

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INVCENTER REVIEW

Overview:

 The offshore-based FX broker INVCENTER provide many services and product portfolio. These are CFDs on FX pairs, crypto coins, several products, stocks, and indices. The offerings can be availed on four different trading accounts. In this INVCENTER review, we will shed light on the nature of this broker.

 About INVCENTER:

 The offerings of INVCENTER include 50 plus Foreign Exchange pairs. It also provides CFDs on products such as LPG, LNG, crude oil, agri-produce, precious metals, stocks, and ten significant indices. The allowed leverages on all the four trading accounts are at 1:200. These provided higher levels of leverages are lucrative but can drain traders account easily. The leverages offered in internationally regulated trade markets are fixed at 1:100 may be even lower. These lower leverage levels are provided to minimise loss risks at higher leverages. The lower leverage levels are the only advantage of the broker.

 The broker INVCENTER is offshore-based and not regulated, and this is a worrisome fact. The Advanced Software Solutions Ltd situated in Saint Vincent, and the Grenadines manages INVCENTER brand. The brokers situated in SVG are associated with scams. This is the reason we are treating INVCENTER with suspicion. The broker is not qualified to provide financial services in regulated markets such as the UK, EU, Japan, Australia, and America. The broker INVCENTER is also involved in offering generous bonuses to its traders. The bonuses practices are controversial as they come with unmanageable and challenging to achieve terms and conditions. The broker also fails to provide the MetaTrader trading platform for trading. Instead, it gives trading on the unfriendly web-based trading terminal.  

 The information regarding the trading conditions of INVCENTER is missing from the website. The minimum initial investment for the basic account is $250. While testing the brokers web-based trading platform, we came across the spread at five pips on the major FX pair EURUSD. These allowed spreads are very high and structured to generate profits only to the INVCENTER, not the trader. The general spread acceptable in a regulated market is at 1.5 pips on the EURUSD FX pair. The withdrawal and payment methods provided at INVCENTER are all except the Skrill. The Skrill recently changed its policies and adopted new anti-scam policy.

 Is INVCENTER scam or legit?

 The INVCENTER is unregulated, unlicensed, offshore-based FX and CFDs broker. The trading conditions are structured in such a way that it will not beneficial for the traders. The INVCENTER is a potential forex scam broker.

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BLUEMAX CAPITAL REVIEW

Overview:

The offshore FX and CFDs provider BLUEMAX CAPITAL provide four accounts. The prominent feature of this broker is it provides a PAMM. The original role of this PAMM is to offer sub-accounts. In this BLUEMAX CAPITAL review, we will discuss other offerings of this broker.    

 About BLUEMAX CAPITAL:

Explorer, Standard, Advanced, and Prime are the names of four accounts provided. The initial investment at BLUEMAX CAPITAL ranges from $1000 to $200000. The trade size is dependent on different types of accounts and are 0.01, 0.1, and 1. The broker BLUEMAX CAPITAL offers competitive spreads on trading accounts with an initial investment of $10000 and above. The spreads are not generous at this broker.

The BLUEMAX CAPITAL GLOBAL LTD based in Belize manages brand BLUEMAX CAPITAL. There are other branches of this broker situated in countries like the UK and Hongkong. The broker claims authorization from the International Financial Services Commission. This gives some confidence to the traders. Sadly, IFSC is not strict authority and leniently oversees brokers financial performance. It is also reluctant towards fact checking of compliance. This suggests that brokers do not guarantee safety to the trader's investments. Furthermore, the broker does not offer any trading bonuses. It forces its traders to trade in huge volumes. The trading at BLUEMAX CAPITAL is provided on world leading trading platform the MetaTrader. This may give BLUEMAX CAPITAL some extra edge. This broker also offers an application that manages multiple accounts on the MetaTrader platform. The payments can be done by multiple channels and includes all credit and debit cards, bank wire transfer, Neteller, Skrill, and crypto-coins. The broker applies charges on withdrawal but the procedure itself is completed within a day. There are mixed feedback given by traders on the trading forums about this broker. An Electronic Communication Network is provided that enables transparency in trade.

Is BLUEMAX CAPITAL scam or legit? 

The BLUEMAX CAPITAL has license IFSC. But, the IFSC does not follow regulations strictly. The offshore based nature is fact of worry. Payment and withdrawal are fast but charged. The offers available at BLUEMAX CAPITAL are not attractive. Initial minimum deposit is too high. The BLIEMAX CAPITAL may be a forex scam and avoiding it is suggested.

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SUISSECG review

Overview:

The offshore FX and CFDs broker SUISSECG offer trading brokerage. It offers 4 account types. The broker provides its products and services on an unknown web-based trading platform. There are many problems associated with this broker. In this SUISSECG review, we will discuss all the problems we found during its research. Readers are advised to Stay Tuned!  

About SUISSECG:

The good thing about this broker is its higher leverage levels. The provided leverage range is from 1:100 to 1:400. The SUISSECG offers FX service on several currency pairs. It also provides CFDs on stocks, different commodities, cryptocurrencies, and on major indexes. The initial investment required to start trading with this broker ranges from $250 to $5000. The 4 trading accounts are called Platinum, Gold, Self-Managed, and VIP account. Unfortunately, there is no information available on the trading condition for the mysterious VIP account.

The firm named TECHNORIC LTD situated in Saint Vincent and the Grenadines manages the SUISSECG brand. Sadly, the government of Saint Vincent and the Grenadines does not oversee operations of any FX and CFDs brokers. From this, we can conclude that the broker SUISSECG is not regulated. All this is evident to consider the scam risk associated with SUISSECG. No authority can avert SUISSECG’s fraudulent nature. Furthermore, while researching SUISSECG for this review, we came across another brand that is managed by TECHNORIC LTD. The brand is called TRADERUR and is Red Flagged by the UK’s local financial body FCA. In this situation, we are not hesitant to call this broker a potential scam broker.

The SUISSECG’s web-portal does not feature information on trading conditions. Fortunately, while testing out the provided web-based platform we came across the spread of 3-4 pips floating on major FX pairs of Dollar/Euro. This provided spread is exceptionally high and provide unfair trading condition to the traders. The SUISSECG misses on the popular trading platform the MetaTrader this makes it unattractive. The terms and condition section of the web-portal throws light on the withdrawal procedure. It takes 10 days to process withdrawals. Furthermore, the minimum withdrawal amount is fixed at $100. Also, a fee of $30 is applied to the withdrawal.  

Is SUISSECG scam or legit?

The broker SUISSECG is unregulated and situated in offshore. There is a lack of information on trading conditions. The minimum deposit leverages and spreads provided are at higher levels. It can drain the trader's account in a matter of seconds. The trading conditions provided are not fair for most of the traders. Traders must prefer regulated brokers. In our view, the SUISSECG is a forex scam.

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PROUD MARKET review

Overview:

 The FX and CFDs broker PROUD MARKET is situated in the UK. It offers seven account types. It also has different investment plans. The broker deals with FX, cryptocurrencies, indexes, shares, and many commodities. In this PROUD MARKET review, we will discuss its offerings and its credibility.

 About PROUD MARKET:

 The impression broker’s website give is that it is based in the UK. Sadly, the proper address is absent from the website and only the UK based customer support telephone number is present. The website design is attractive but misses much crucial information. The provided accounts are Basic, Silver, Gold, Platinum, VIP Basic, VIP, and VIP Premium. The minimum initial investment starts from 250 Euros. The information on all the crucial trading conditions such as leverages, spreads, trade sizes is not present on the website. 

On the PROUD MARKET’s website, there is a mention of six different investment plans offered by this broker. The mentioned plans are called Family Plan, VIP Plan, Training for Beginners, Secondary Income Plan, Retirement Plan, and Vacation Plan. Sadly, how these plans work and how to enroll in these plans, benefits, installments, etc is not mentioned. Unfortunately, such an attractive website and lucrative investment plans are designed to attract traders.

 We performed an in-depth analysis of this broker’s website to find out about the licensing and regulations of the broker. Considering the broker’s claim of UK based, we checked with the UK’s local financial body FCA.  Unfortunately, we were unable to find PROUD MARKET’s name in its registry. Now it is evident that the PROUD MARKET is not a licensed and not regulated brokerage provider. The deposits at this broker can be made with a wire transfer, and cards only. The withdrawal procedures are not mentioned anywhere on the website. The brokerage complaint forums are loaded with complaints about the refusal of withdrawals. Furthermore, the broker does not provide a demo account. So it is hard to comment on real trading conditions of PROUD MARKET.

 Is PROUD MARKET scam or Legit?

 The broker’s website is loaded with unnecessary information. The useful information such as leverage level, spreads, trading costs are willingly not presented on the broker’s website. The nature of PROUD MARKET is anonymous and it is unlicensed and unregulated. The broker does not provide a demo account and primary investment is huge. From all of this, we can say that the PROUD MARKET is a potential forex scam broker.

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MCOINMARKET REVIEW

Overview:

The offshore CFDs and crypto brokerage provider MCOINMARKET offers six accounts. The trading conditions are not provided by the broker. On top of that, we have much concern about this broker. In this MCOINMARKET review, we will discuss all of them one by one. So, don’t forget to follow this completely.

About MCOINMARKET:

The broker MCOINMARKET has a plethora of product and services portfolio. It offers CFDs on cryptocurrencies, indexes, many products, and stocks. Also, the MCOINMARKET is not regulated and its client's money poses a risk of scam. The MCOINMARKET provides leverage ranging from 1:20 to 1:50. The nature of cryptos is volatile and keeping this at account provided leverage is high. The market is full of brokers who offer margin trading at 1:2 to 1:10 low leverage levels.

The Bulgarian company Zed Consult LTD manages brand MCOINMARKET. There is also a Russia based firm associated with this broker but no further information is available. The financial supervision commission, the local financial authority of Bulgaria refuses any recognition of MCOINMARKET. Furthermore, it is also not registered under any EU financial authority viz FCA, UK, and CySEC, Cyprus. This is enough evidence to prove the MCOINMARKET is not licensed and not regulated.

Another brokerage brand called XCOINBROKER is also managed by the Zed Counsalt LTD, its reputation is also not convincing as a broker. It has several accusations of scam on the social media platform. It can be said that both of the brands are run by a dubious company. Furthermore, the broker denies access to crucial information about the trading condition such as spreads, initial investment, trading cost, and more. The demo account for the testing purpose is also not available. It makes hard to believe this broker. No trader will appreciate such an anonymous nature of any broker. Because its investment is at risk.

The trading platform of the MCOINMARKET is similar to that of XCOINBROKER and we can judge that the platform is only used by the scammers. Also, MCOINMARKET does not offer FX trading. The traders will surely miss the MetaTraders platform and FX trading with this broker.  

Is MCOINMARKET scam or legit?

The MCOINMARKET is neither regulated nor licensed. It is also situated offshore. It has its partnership with another scam broker. The trading conditions are not disclosed. All of this points out towards only one direction and that is the MCOINMARKET is a potential crypto scam.

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UMARKETS REVIEW

Overview: 

 The offshore FX and CFDs broker UMARKETS is situated in Saint Vincent and Grenadines. The broker offers four different trading accounts also an ECN with no information. UMARKETS allegedly claims to be registered under Belize's financial authority. Sadly, our research shows that the claim is false. Please, read this UMARKETS review to acquire further information about it.

 About UMARKETS:

 The provided accounts are namely Mini, Standard, Gold, and Platinum. The minimum initial investment is $500 and stretches up to $35000 depending upon the choice of trading account. The crucial information on trading conditions is not present on its website. Also, the above mention accounts deal with non-commission based trade. The spreads provided are fixed and variable. Also, this spreads range is according to the choice of account purchased. The broker has two trading platform and traders can avail either of them. The MetaTrader platform provides fixed spreads and the web-based trading platform provides variable spreads. There is also an Islamic account present that is designed to fulfill the needs of Muslim traders. The broker does not deal with micro-lots. The deposits are high compared to the market average.  

 The provided spreads are above 2 pips on the primary FX currency pair of EUR/USD. These allowed spreads are also considered high. The trading assets of UMARKETS are many FX pairs, CFDs, indexes, stocks, cryptos, and commodities. The UMARKETS features itself as the safest broker in the market. Sadly, it forgets to mention about watchdog who oversees its financial actions. The fact is that the broker is not regulated. While checking its claim with Belizian authority we found nothing. The only reliable aspect of UMARKET is the MT. This also can not guarantee the safety of the investment. These trading platforms are available universally and anyone can use them.

 The UMARKETS gives a 30% welcome bonus to its clients and also 100% of insurance. For added income, it has arrangements of referral system. Withdrawal of offered bonuses is a tedious job as it requires a certain volume of trade to be qualified. The payment gateways provided are many and some of them are popular in the market like Neteller, etc.

 Is UMARKETS scam or legit?

 The claim of registration and regulation by UMARKET is false and we were unable to trace it. The non-regulating makes it hostile to scam. Also, the trading environment is not feasible for trade.  In conclusion, UMARKETS is a scam broker and must not be taken lightly.

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ExTick Review

Overview:

 The binary options broker ExTick’s offer presentation is rather dull. We are unable to find any relevant information on account types, available spreads, or required minimum deposit. Also, the credibility of this broker is at stake. We will present the reasons behind the broker's credibility in this ExTick review. Read it further for more information.

 About ExTick:

 The focused benefit of ExTick is its plethora of Contracts For Differences. It covers CFDs on cryptocurrencies, indexes, commodities, and shares. All sorts of intermix between those are covered in the offering. The trading assets are organized into five categories of binary vs binary, binary vs USD, Indexes vs. binary, commodities vs. binary, and shares vs. binary. Sadly, the ExTick does not provide trading with FX pairs.

PPSAI Group LTD claims to be situated in London, UK manages two brands ExTick and Traders4ever.  The major fact of worry is that many regulated markets do not regulate binary options trading and exchange. But the UK’s Financial Conduct Authority does not support CFDs on binary options as well.

So it is clear that ExTick does follow any regulations means it can pose a serious threat to the investments.

 The ExTick provides trading on a web-based trading platform that is unfamiliar to many traders. Furthermore, the same web-based trading platform is used by other shady brokers, finds out our research. Many traders will miss the performance and A1 offerings of MetaTrader.

 ExTick refuses to share any information on its trading environment. Also, it doesn’t provide a demo account for testing purposes. These are the typical characteristics of a shady scam broker. We continued our research opening a live account to check this scam broker's actual offerings. The leverage level found at a 1:1 ratio, meaning no marginal trading and sole purpose of ExTick got exposed.

 Is ExTick scam or legit?

 From the above discussion, it is clear that ExTick’s sole purpose is to dupe traders. The trading conditions are meaningless. What’s the purpose of trading if there is no margin at all? Also, the offer presentation is very dull. It does not support the MT platform. But the serious issue lies in ExTick’s regulation. The binary broker is not regulated and by all means, it is a potential binary scam.

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Infinitrade Review

Overview:

The FX and CFDs brokerage provider Infinitrade is situated on offshore.  The broker provides its clients with as many as seven account types. The leverage of up to 1:400 is offered on all the trading accounts. All these services are facilitated on a web-based trading platform. Sadly, the broker is unregulated and it is the major fact of worry. In this Infinitrade review, we will cover all the necessary information about this broker.

 About Infinitrade:

 We will start this review by mentioning the advantages of the Infinitrade. Such an advantage is its long list of trading assets. These include about forty FX pairs, CFDs on popular cryptos, precious metals, farm produce, other resources, over ten indexes, stocks, bonds, and shares.

 Now we will mention the disadvantages of this broker. Sadly, the disadvantages are overcoming advantages. The leverage offered up to 1:400 on all the seven trading account is considered favorable for most of the experienced traders. But in reality, many regulated markets have banned such high leverage ratio offerings. The reason behind it is to restrict the investment loss of the traders.  

 The most obvious disadvantage of Infinitrade is that it is unregulated. The brand Infinitrade is managed by A&E Products LTD, the company situated on the Marshall Islands. The client's payments are discharged by another company with a similar name A&E Products LTD, situated in Bulgaria.

 When we checked with the financial regulators from the EU region like the Financial Conduct Authority, UK; the Cyprus Securities and Exchange Commission, Cyprus and others for the registration of this broker we found nothing. The broker Infinitrade also facilitates controversial trading bonuses. The trading bonuses are banned from the regulated markets because of its entangled nature with unachieved conditions. Such as, if traders receive a bonus from Infinitrade they are not permitted to make any withdraws until traders reach specific trading volume.

 The minimum deposit required to open a basic account with Infinitrade is $2500 and it is ten times higher than the industry average. Also, major e-wallet Skrill is absent as a payment method. The Skrill recently adopted a new anti-scam policy and this may be the reason behind its absence. Furthermore, the most popular trading platform MetaTrader is also not available with Infinitrade.

 Is Infinitrade scam or legit?

 The FX and CFD broker Infinitrade is not recommended. The broker is unlicensed and not authorized to provide brokerage services in regulated markets. The trading conditions are highly unfavorable. We genuinely advise our readers to avoid this forex scam.

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XTrade Review

Overview:

 The FX and CFDs broker Xtrade offers its customers only one universal account. The spreads offered are fixed and provided leverage is up to 1:400 on its self-developed web-based platform called Xtrader Pro. The Xtrade offers noteworthy trading facilities with the help of its Education Center and Xtrade Academy that facilitates video tutorials, electronic books, and other useful resources to all kinds of traders. Read further this Xtrade review to get an insight of this broker.

About Xtrade:

 The trading assets provided by Xtrade are FX pairs, many commodities, several indexes, also shares and stocks. It also provides CFDs trading on its self-developed trading platform. The head office of the Xtrade is situated on the island of Cyprus. The organization named Xtrade Europe LTD is the owner and the manager of trademark Xtrade. The Cyprus Securities and Exchange Commission, Cyprus regulates Xtrade Europe LTD.  

The operations of the Xtrade Group are also observed by Australian financial regulator ASIC, Belizian financial regulator IFSC and South African financial regulator FSB.  In addition to this, the broker also recently joined the Russian self-regulatory organization NAFD.

Also, to enhance its brand reputation the broker features famous footballer Cristiano Ronaldo as its brand ambassador. The minimum deposit required to access the basic account of the Xtrade, clients need to invest $100. This minimum deposit is according to the average minimum deposits in the current trading market. The broker facilitates fixed spreads with commission-free trade. The available spread is 2 pips on the FX pair of EUR/USD. The maximum leverage level is of 1:400 and can be treated as higher compared to the market average. This can increase the risk of loss to the invested funds.  

The Xtrade offers its clients with self-developed Xtrade Pro trading platform instead of a famous MetaTrader one. The trading platform is web-based and also supports the mobile application. It has a very simplified user-friendly interface with additional features like charting, indicators, and technical analysis. The Xtrade also features several bonuses and promotions. Readers can visit the broker's official website to know more about the bonuses and promotions as they are seasonal.  

 The payment and withdrawal processes are facilitated is by several channels such as all card types, bank transfer, and all sorts of e-wallets. The process is charge-free and can take up to 5 days to process.

Is Xtrade scam or legit?

 The broker Xtrade is regulated by CySEC of Cyprus. The offerings can fulfill the requirement of all traders. The Xtrade can be a forex scam as some complaints were observed against them and traders are advised to be cautious while trading with Xtrade.  

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Add-ex.io Review

Overview:

The offshore crypto broker Add-ex.io provides trading with binary assets. The Add-ex.io makes an impression of being a reputed, strictly managed and protected broke. But in reality, there are several concerns about the Add-ex.io broker. Follow this Add-ex.io review to know more about this broker presented here.

About Add-ex.io:

Our research suggests that the official website of the Add-ex.io is operational in anonymity. Several grammatical errors can be spotted in each section provided and have several discrepancies. The information on the owner of this broker is missing completely from the website. The website is not secure and providing personal and bank information can cause major hazards to the trader. The Add-ex.io supports several cryptocurrencies viz - Waykia Chain, OmiseGo, Aeternity, Status, DANG-X/USDT, and others few to mention. There is a boom in the cryptocurrency trade and the broker wants to encash this situation desperately. The broker mentions the organization's initiation of provided services since the year 2017.

The website lacks several important pieces of information such as payment methods provided, the transaction fee charged, withdrawals charges applied, and all other aspects of trading conditions such as leverages, spreads, trading cost, minimum deposits, trade size are few to mention. Furthermore, we can confirm that the Add-ex.io is unregulated and unlicensed as there is no info present about the regulatory body and license prover mentioned on the broker's website. Social media links and pages are mysteriously absent from the world wide web network.  When checked with the Alexa portal it is found that the website is specially designed to trap rookie binary traders around the globe.

The contact detail, the physical address is dramatically missing from the broker's website. The customer support is provided only via email. The provided email is also outlook based and does not contain the domain’s suffix or affix. This nature is suspicious and raises several questions.  

Is Add-ex.io scam or legit?

The offshore online binary options broker Add-ex.io is not registered with any of the trusted regulating authority. The broker Add-ex.io wants to be anonymous regarding its operational procedures, withdrawal terms, and conditions, and contact details. The grammatical errors on the website suggest that the broker is not at all professional and does not invest heavily in R&D, genuine labor, classy website developers, etc. to provide a generic website. All of this indicates the binary options scam associated with Add-ex.io. Traders are advised to stay away from this scam broker.

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FX-LEADER REVIEW

Overview:

 FX-LEADER deals with FX and CFDs trading with four accounts offered. Sadly, the conditions of trading are not mentioned on its web portal.  Apart from this, there are many genuine concerns regarding FX-LEADER. Read this FX-LEADER review to know about them.

 About FX-LEADER:

 While surfing on this broker’s website we came across a few positive things about it. One of them is its elegant and varied product portfolio. It comprises of immense CFDs on assets, indexes, shares, and most popular cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, and many more.

 The leverage provided by the broker is about 1:400. It is considered high and must be handled wisely. Such high leverage is associated with greater risk.

The broker's website mentions that the trademark FX-LEADER is owned by Leadernet OU, an Estonian company. The organization mentioned is unregulated and confirmed by the Estonian Financial Supervisory Authority. The website suggests that the broker operates under Saint Vincent and the Grenadines regulations.

This is enough to suspect this broker can be scam broker and traders better avoid it. Such brokers are considered as forex frauds. In addition to this, several complaints and negative feedback regarding FX-LEADER floating on the web.

The website of FX-LEADER fails to share any significant information on the trading environment such as leverage provided, minimum initial deposit required, spreads available, etc. Also, a demo account is not offered and is a red flag. All genuine forex brokers offer free demo accounts so that their traders can test offerings and strategies.

While testing the broker’s trading platform in a live mode we saw high spreads of 3 pips on prime FX pair on EUR/USD. These high spreads increase the cost of trading.

Trading with FX-LEADER is performed on a web-based platform and mobile app. The platform provided is poor and misses advanced features. The provided platform is incomparable to industry-leading MetaTrader4.

The basic account type requires an initial investment of $200 which is high considering the market. Many regulated brokers provide services at a lower rate.  

 Is FX-LEADER scam or legit?

 The broker under consideration is unregulated and its offering is not attractive. The cost of trading is also immense. The risk of fund loss associated with such scam brokers is comparatively greater. Traders must not fall for such a lucrative offering. Instead it is advised that every trader  should trade with a regulated broker.

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CAPITAL88 SCAM BROKER REVIEW

Overview:

 The CAPITAL88 is an offshore forex broker. It provides six different types of accounts. The services of CAPITAL88 include Contract For Differences on many stocks, commodities, and foreign exchange. All the above services are provided on the web-based platform. Know every pros and cons of this broker in this CAPITAL88 review.  

About the CAPITAL88:

 The Basic, Bronze, Silver, Gold, Platinum, and Black are the accounts provided by this broker. $250, $2000, $4000, $10000, and $25000 is the minimum deposit required respectively. Like other fraud brokers, the CAPITAL88 also hides information on the Black account. The information on available spreads, maximum leverages provided, trade size, and cost of trading is also missing from the broker’s website.

 The major advantage we came across about CAPITAL88 is that it provides trade of all major and minor forex currency pairs including several commodities. The CAPITAL88 does not allow trading with binary options. This fact can be treated as an advantage as many regulated markets have banned binary trading. The payments and withdrawals at CAPITAL88 can be done by cards to e-wallets. The minimum deposit required are quite high as many regulated brokers provide the same services at a very low cost. Another fact of appreciation of CAPITAL88 is that it wants its traders to be educated and up to date. For this, the broker provides daily, weekly, monthly market insight and educational materials like video tutorials and E-Books.

 The disadvantages of CAPITAL88 include the following facts. The brand CAPITAL88 is managed by BT Ventures a Bulgarian company. Also, the client’s payment operation is handled by Marshal Island-based firms. We are keen to spread awareness about risks associated with offshore brokers. The investments in the offshore brokerage firms always have a high risk of an investment scam. Our research suggests that the broker CAPITAL88 is not licensed and regulated as no sufficient data is present. The withdrawal of the earned profit is not an easy task with CAPITAL88. As many terms and conditions are imposed on it. Some of them are, the requirement of minimum trading volume, a service charge of 3.5% and heavy maintenance fees. Furthermore, the highly anticipated and trusted trading platform the MetaTrader is not provided by this broker.

Is CAPITAL88 scam or legit?

The broker CAPITAL88 is not licensed and unregulated. Trader’s investments are prone to forex scams. Being unregulated it is hard to recover funds from this broker. Marshall Island is the favorite hideout of scam brokers. Undisclosed trading conditions are not welcomed. Several charges on withdrawal make it avoidable. Trading with a licensed and regulated broker is recommended.

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Olympia Markets Forex Broker Review

Overview

Olympia Markets is a forex broker that offers a wide range of trading assets, including forex, stocks, commodities, and cryptocurrencies, etc. It is neither regulated nor licensed and is based in Estonia. Read this review until the very end to learn more about this forex broker and decide for yourself whether it is a scam or legit.

About Olympia Markets

The forex broker offers its customer with three different types of trading accounts, including:

·      Self Trader Account                             -         $250 (min. deposit)

·      Robot Trader Account                          -         NA

·      Copy Trader Account                           -         NA

This web-based trading platform provides leverage of 1:500 for all types of accounts. While the minimum deposit to open a self trader account is $250, there is no information available on the deposit needed to open other types of accounts.

The forex broker offers its customers with around 54 currency pairs, 23 CFDs on stocks, indices, precious metals, and major commodities. Olympia Markets also offer major cryptocurrencies like Bitcoin, Ethereum, Dash, Litecoin, Ripple, Cash, Cardano, etc.

It is rare to see such high leverage of 1:500 in the forex market, but Olympia Markets claim to offer such leverage. And to start trading with Olympia markets, traders need to invest a minimum of $250, which is not a much higher investment, to begin with.

While Olympia Markets supports major payment options like VISA / Master Card, they don’t seem to support other major famous e-wallet partners like Skrill, Neteller, etc. Another major drawback that professional traders will not like about Olympia Markets is that they don’t provide an MT4 trading platform. The web-based trading platform on offer lacks a lot of basic functionalities.

Is Olympia Markets Legit or Scam?

The Olympia Markets forex broker is not licensed and regulated which can be an example of Forex scam. While they seem to offer a diverse range of trading assets, the lack of Meta Trader4 is a big drawback for professional traders. The leverage also appears to be very high when compared with other forex brokers in the market.

While the bonus offer seems to be very inviting, the withdrawal conditions are not specified clearly. And reading the terms and conditions page states that the company has every right to alter the bonus conditions any time, which is not a fair practice with forex brokers. Also, not many scam review sites rate Olympia Markets higher. Hence, anyone willing to trade with Olympia Markets needs to think twice before investing their hard-earned money with an unregulated platform like Olympia markets scam broker.

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forex scam broker

If you have been scammed by an online trading scam, forex scam, cryto scam or any other investment fraud contact Fraud Brokers today to get your money back! We have helped many victims to get their money back. You have a limited time to get your money back from credit card companies and banks. Don't wait and file a scam complaint today with us. We will guide you through the process and help you every step of the way.

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