Warning! FXMarkets.online is an offshore company! Your deposit may be at risk.
RECOMMENDED FOREX BROKERS
FXMarkets.online presents a decent website, that at second glance starts to slowly unravel the true nature behind its façade of innocence. We have compiled more than enough reasons as to why FXMarkets.online is a complete failure and a waste of our readers’ money.
The main thing that this firm centers around is the claim that is has received an approval from both the FCA and CySEC. FXMarkets.online claims to hold a license from both the FCA and CySEC, and yet we had no proof of this whatsoever. Crucially, the name of the firm was not present in the register on neither of these agencies, meaning that FXMarkets.online is definitely not licensed by either the FCA nor CySEC.
Moreover, we traced an FCA warning that completes the illicit circle and once and for all staples the true identity of FXMarkets.online. Being red flagged by the FCA is the equivalent of being banned.
Last but not least, we honestly think that FXMarkets.online can be considered anonymous, and as far as we go, we think it is. Such brokers are definite risks to all, if not presenting the higghest risk of any other shady and illegal broker. This firm is completely unregulated, and a scam!
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
Creating an account proved to be a completely worthless move, because not only was the user area in an appalling shape, but there was also no trading software anywhere to be seen.
We cannot stress enough the dreadful state of the user area, yet what was worrying was the lack of a trading platform. Without one, FXMarkets.online cannot be labeled a broker in any shape or form, since the most essential element is missing. Therefore, no trading conditions apply here; the spread values, or leverages, and even the tradeable assets are worthless.
As we already revealed, there is no trading software. This would have bother us if the firm was regulated, but we have reached a point with FXMarkets.online where we expect anything.
Instead, in the user area the company relies on third party charts, which are the classic replacement materials for trading software, widely used by unregulated brokers. It takes little effort to include these, because they do not represent the trading conditions of the broker, and the charts are easily accessible. But they have nothing in common with the broker.
FXMARKETS.ONLINE MINIMUM DEPOSIT
From the client area we learn that the company allows only for direct crypto investments, although we would not jump on this train if we were you.
Crypto deposits tend to be untraceable, and unless you have a guarantee from the firm and its regulator that all crypto investments are safely handled, all such investments are a waste of time. FXMarkets.online has neither the regulation, nor does the security, thus all investments with it will be lost.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
FXMARKETS.ONLINE WITHDRAW TIME AND FEES
It was no surprise at this point that there were no withdrawal details disclosed; it’s not as if we would have trusted these anyway. Usually, common AML rules state that the withdrawals are processed only by means of the same deposit method used for investing in the first place. So, this would mean that the withdrawal methods are crypto-based.
Suppose you invest in this company with any of the crypto methods, and later you wish to withdraw. Does FXMarkets.online have a good reason to pay you back? Absolutely not; your money will be lost in a twisted sort of crypto transaction, and any plea to get reimbursed will be ignored by this scammer entity.
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
Don’t even thing of investing here. Your mind and energy should be focused on different brokers and investment opportunities, not this sorry attempt of a broker.