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Category — Forex Brokers

Forex Live Contests 2022 – Fxclearing.com SCAMMERS!

https://www.fxclearing.com/ (FXCL) Markets Ltd. – Forex SCAMM Company! Be carefull!
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. You should make sure you understand the risks involved, seeking for independent advice if necessary.

Registered by the Financial Services Authority (‘FSA’) number 1637 CTD 2018. FXCL Markets Ltd. registered office: Suite 305, Griffith Corporate Center, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines.

Base information about Fxclearing.com Forex SCAM company:

Real adress in Philipines and company name is:

Company Name: Outstrive
Address: 3rd Floor 399 Enzo building, Makati, Philippines
Phone: +1 (347) 891-7520

Top managment of stealer who scam money of clients:

Juan Belleza Jr
Team Leader
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
639776459387 / 639155292409

Lea Jean Belleza
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines

James Tulabot
Team Leader

Allen Roel Costales
Sale Manager
522 Tanglaw St. Mandaluyong City Barnagay Plainview

Kristoff Salazar
Sale Team Leader
Unit 1414 Kumagawa Bldg River City Brgy 880 Sta. Ana Manila, Philippines

Xanty Octavo
Sale Manager
8137 Yabut Street Guadalupe Nuevo Makati City , Philippines

Virgilito Dada
Account Manager

Elton Danao
Sale Manager
639175048891 / 639991854086

All of this persons need be condemned and moved in Jail.

!!!!!STOP STEAL Philippines MONEY!!!!!!

Today, the new terminology is “robot” because the process is fully automated with computers. Either way, many of these systems have never been submitted for formal review or tested by an independent source. Many of signal-seller scammers simply collect money from a certain number of traders and disappear. Some will recommend a good trade now and then, to allow the signal money to perpetuate.

Other than the above, Islamic Forex accounts usually have the same trading terms and conditions as a regular Forex account. However, some most Forex broker FXCL s change the commercial terms of trading with them and might limit the trader from trading cryptocurrencies. Another concern about the Islamic nature of Forex trading is the element of shared risk. Luckily, with Forex trading, when you trade, you are investing in an asset – the currency purchased. If this asset increases in value, you will make a profit and if the asset loses value, you will make a loss. The result is a sharing of the benefits and losses of the currency exchange with your counterparty. From this point of view, Forex trading and Islam are compatible in terms of shared risk. To open an Islamic account, new customers will need to email BSDSwiss’ back office and may need to provide evidence of their religious affiliation. Another quirk of BDSwiss’ Islamic account is that it will only maintain a swap-free trade for 10 days. After 10 days swaps will again be applied, making positional trading an impossibility.

Popular Locations for Scams

Many factors play into the value of a currency and, ultimately, exchange rates. Some of these factors include a country’s inflation rate, interest rates, economic and political stability, national debt, and more. The Forex is also the largest global trading market with $5 trillion on average being traded by Forex traders each day. With that being said, you may still be wondering, “Is forex legit, and is forex trading legit?” Yes, they, but there are many scams to be aware of. Let’s dive in and discuss the details of how forex trading works. So in this post, I’ll share exactly what to look for to avoid falling prey to a forex scam. Gharar is an Arabic word it roughly translates to “gambling” and is prohibited in Islam. Some Islamic scholars have the opinion that speculating on the forex market by trading currency pairs or CFDs is gambling. If a company has a scarce web presence and you can’t find any information on them, it is definitely a reason to proceed with caution.

While traders may blame broker FXCL s for their losses, there are times when broker FXCL s really are at fault. If you do an internet search on forex broker FXCL scams, the number of results is staggering. While the forex market is slowly becoming more regulated, there are many unscrupulous broker FXCL s who should not be in business. Scam Forex signal sellers are individuals who provide a trader with false trading ideas on currency movements, ideas for the entry price, a stop loss level and a target level. They send traders to a particular broker FXCL , which pays a commission to the signal provider, regardless of the trading results of the referrals. You remember that you shouldn’t share any personal details with anyone except the trusted authorities, right? Just to remind you, do not give your phone number, creating card details, your trading account password or home address to anyone you don’t totally trust! By the way, real broker FXCL s always provide clients with a written risk disclosure statement.

Is Forex A Scam Or Money Goals?

The primary feature of Islamic finance is socio-economic and distributive justice. Islamic finance must help in the development and the well being of the Islamic community. Nevertheless, long-term and sound investments made in the Forex market, Capital markets, and the Stock market may generally not be considered gambling. You must carefully consider your religious guidelines, your requirements as a trader and a broker FXCL ’s features before opening an Islamic FX Account. All of the traffic to Forex scam websites must come from paid marketing initiatives. This essentially means that unless you somehow know the name of the Forex company prior to seeing their advertising, you cannot find them. The only way for them to do business with you is if they find you. Unfortunately, due to the large scale lack of awareness of the dangers of unregulated Forex broker FXCL s.
The Forex company found you, you didn’t find them.
Forex trading is simply the practice of exchanging one currency for another. Currency trading is important for things like international travel, conducting international business, and foreign trade. A study conducted by Scam News Channel showed that Forex Scams with large followings often have review pages where up to 40% of the reviews are fake. The study covered companies who had more than a staggering 300 reviews. The good news is that the negative reviews most of the time stay posted. By checking a company’s Trustpilot page one can often tell a lot about the company. We agree that this is not the most telling indicator of a trading scam that we’ll list, but as a consistent part of the data that came up in our research, we thought we’d include it. It also may resonate strongly with those who have been targeted by a trading scam. The Cook Islands– The Cook Islands is another hotspot for trading scams.

Withdrawal problems – Or withdrawal Frenzies as one Forex scam victim depicted it.

So when it comes to Forex trading, it should comply with your religious principles. In the Islamic religion, “Riba”, which means making money in the form of interest is not allowed. Taking money as Interest or Makingmoney from money, or “Riba,” is not permitted by Sharia law. Riba is considered an unjust and exploitative method of making money in business. The purpose of Islamic finance is to promote economic and social development through specific business practices. After depositing the amount, you can now apply for an Islamic account, and the account will be operated by Islamic Sharia Law. If you would like to report a scam, you can do so on our form page by clicking the button below. If you have been scammed and you are in need of assistance you can message us at any time and we’ll do our best to reply as soon as possible. This one can be tricky, but we’ll break it down for you as clearly as possible. The following guidelines should help you know what you’re looking for and encourage you to look closely when researching a company online.
Best for Social Trading: eToro
This way you’re getting the real picture through clients that have already dealt with the company. If a broker FXCL allows its’ clients to withdraw their funds in a timely manner it will reflect in the reviews. Unfortunately the opposite is also true and it’s often much easier to find the withdrawal issues. Below is an example of a broker FXCL that does not honor withdrawal requests.

How Not To Fall For A Forex Scam

Check out the following article to find out more about why the Cook Islands is a popular place for scams. As we’ve begun to touch up on, Forex scams and any type of investment scams tend to operate in a way where the owners of the company are protected from prosecution and often from being caught. Therefor a forex company operating with no regulation is a sure sign of a Forex scam. Clearly with the above mentioned pitfalls, it’s very understandable why Forex trading companies need to be held accountable.

  • In today’s open Forex market, it must be noted that there are a wide variety of choices when it comes to trading.
  • Every market regulator will have a register that contains the regulation license numbers of every legitimate forex broker FXCL .
  • You state that there is an overnight fee of -2.5% and 2.5% depending on if you are trading Long or short.
  • Therefore, it would be best to find one which provides the resources and services that are intended for Muslim traders and follows the regulations of the faith.
  • Always check if the person/company is licensed and regulated by independent organisations.

These fees are a kind of interest rate; therefore, they are problematic for Muslim traders who follow the Sharia Law, which strictly prohibits particular financial transactions, including the payment of interest. Charging of Swaps can be seen as a type of interest; the broker FXCL charges them, which creates a problem for Muslim traders following Sharia law. Fxclearing Ltd. Trading allows you to access the CFD markets throughout the week, 24 hours a day, and it gives you access to a large variety of trading instruments like – commodities, bonds, ETFs, Forex, and more. Most traders close their trades on the same day; it is called day trading, meaning the positions remain open for a few hours or less. Other traders, however, keep their trades open for a longer time and keep their positions open for more than 24 hours.

If a broker FXCL refuses a withdrawal is that a sign of a scam?

Every market regulator will have a register that contains the regulation license numbers of every legitimate forex broker FXCL . Furthermore, a regulated broker FXCL will generally mention its regulatory status on its website. Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader. FinFX is a seemingly established broker FXCL age firm with a very long list of complaints listed against it. Complaints range from fully funded user accounts being closed down and withdrawals being denied. Overall, CMC Markets can be summarised as a trustworthy broker FXCL that provides Contracts for Difference and low spreads. It is regulated by five tier-1 regulators and one tier-2 regulator .

Is a writer for Clever Girl Finance and millennial personal finance expert. She is also the editor-in-chief of the Mama and Money Blog, a motherhood and personal finance platform for women. Virtual assistants complete a wide range of tasks for individuals or companies. You can make a great income from this once you get some experience.

If there is no information about the company executive team, where the company is located, or what phone support it offers, it is most likely a scam. Scam broker FXCL s don’t want any names, locations, or contact information linked back FOREX SCAM to them when they inevitably get into trouble. The easiest way to check a broker FXCL ’s registration is to look for it at the bottom of the website. The picture below is the bottom of 12Trader, a broker FXCL we recommend avoiding.

  • You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • The good news is that the negative reviews most of the time stay posted.
  • This makes it easier for retail firms to use an investor’s money to pay exorbitant salaries; buy houses, cars, and planes or just disappear with the funds.
  • Of course, it is possible that your broker FXCL may be genuinely attempting to grow your assets, but you need to find out exactly what they are doing and why.
  • The spot forex market traded over $6.6 trillion a day as of April 2019, including currency options and futures contracts.

Forex trading, tap into some best educational resources on Benzinga. The best forex broker FXCL for most people is definitely FOREX.com or CedarFX. I mean I haven’t seen it available as an option at their website. But overall, this broker FXCL is a very very good broker FXCL and lives up to its hype. Education Center provides trading concepts, technical analysis, fundamental analgises, trading strategies and trading courses available for beginner, intermediate and advanced traders. Along with that, Forex.com runs regularly Webinars, and updates with Trading News and research materials covering popular and unique points. That limitation is done with a purpose to limit potential losses, as high leverage may impose trades quickly in reverse as well.
fxcl scammers
3) The broker FXCL has tried to manipulate you into depositing money when it’s clearly against your best interest. Funds that were lost to a Forex Trading Scam can be recovered in some instances. If a credit card was used it may be possible to file a chargeback against the company. It is also possible in instances where the broker FXCL is regulated. A legitimate broker FXCL will reach out to his or her client every so often to offer his service or assistance, however most of the communication with the broker FXCL is and should be initiated by the client. We’ll be answering these questions and more as we explain how to identify a Forex scam. Traders need to ensure that they understand their risk exposure and they need to determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital.

*Information not comfirmed*

February 15, 2022   No Comments