Warning! MarginFXOptions is an offshore company! Your deposit may be at risk.
RECOMMENDED FOREX BROKERS
Whatever MarginFXOptions claims on its site, we have overwhelming proof that it all is a lie! This company has created a website in order to conceal its lies and misleading activities, yet it does a very poor job of doing so. This made our job easier, not that we would have been fooled for a second if MarginFXOptions had put more effort into its schemes.
We normally don't look to seriously at address claims made by shady brokers, and this company is no exception. The official addresses given here are ones in California, Cyprus, Germany, and Bulgaria. Immediately, these addresses suggest that the company is licensed in each one of these nations. Now, we have not take these claims seriously, and never will. Most notable the US address is a complete joke, told in a very distasteful way. To be regulated as a US FX brfoker a company must go through the most demanding procedures in the industry, like holding tens of million of dollars as constant capital on top of hundreds of scrutinizing rules. These requirements are the reason why only a handful of brokers exist today in the US, all of which are incredible powerhouses. We are 110% certain that MarginFXOptions is not one of them.
On top of the fake addresses, MarginFXOptions claims to be licensed by CySEC, the FCA, BaFin, and CONSOB. and VFSC in Vanuatu, all of which are obviously complete lies and deceits. The broker is not regulated in either of these places, as there is no proof on either sides of the coin; there is no proof on the site of the broker of a regulation being held, and there is no data of MarginFXOptions in any of these regulator's registries.
Moreover, there is an official FCA warning issued against the broker, meaning that, once and for all, MarginFXOptions is completely unregulated and a pure 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).
We were faced with a very bad user area, one of the worst ones we have seen in fact. However, the state of the client portal was nothing compared to what we found out next. And that was that there was no trading software anywhere on the user area. This means that there are no trading conditions applicable at all; things like assets, leverages, and spreads do not apply here.
The broker tries to pull a faker by including a couple of third party charts in user area as a replacement for an actual software but fails miserably.
Not only are the third party charts not convincing for a second, but they actually are quite useless no matter how good they might have looked.
These graphs do not allow for trading, and are used only as reference sources.
MARGINFXOPTIONS MINIMUM DEPOSIT
The broker has picked the most common investment methods, bitcoins and wire transfers. Why so common? Th reason is that all investments made through these are untraceable with unregulated brokers, making it that much easier for the fraudsters to steal your money and disappear with it. Especially crypto investments are close to impossible to trace.
The minimum deposit is $250, although we do not recommend investing even a dollar.
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.
MARGINFXOPTIONS WITHDRAW TIME AND FEES
It would have been interesting to trace down withdrawal details, and discover, for a laugh or two, the sort of lies that this type of broker could have delivered, but alas, we are left joke-less.
The reason is obvious; MarginFXOptions does not present any withdrawal details whatsoever, and thus gives us one more reason to mistrust it.
We strongly believe that all withdrawal requests will be ignored, and the user will never see her money.
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!
What we have here is, essentially, a typical scammer broker. Do not trust it with anything!