Offshore Retail FX brand gets fraudulent license warning from IFSC | is a BIG SCAMM WITH FAKE REGISTRATION. (FXCL) Markets Ltd. is compensated by the spread. Leverage may increase gains or losses.
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 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!!!!!!

With the growth of the Internet, regulators also are seeing more online trading operations offering illegal foreign exchange contracts and then misusing the investments they receive, Mocek said. Some fraudulent forex companies solicit customers to trade in an options strategy known as “butterfly spreads” aware of the consistently negative effect the strategy has on the ability of customers to make money over the long term. Numerous option accounts contained transactions in which the commission-to-premium ratio exceeded 100 percent, and that a majority of customers paid between percent of their investment funds for commissions. They commit fraud in connection with the purchase and sale of commodity futures and options contracts for customer accounts by making false, deceptive, and misleading statements or omissions of material facts. The following precautions should be considered before placing your funds with any foreign currency trading company. has received a public warning from SEC(U.S) which is a regulated federation. Each country has its own federation for all financial services like trading, banking, loans. When a broker is reported by a known federation, you can be sure it is a scam. You are surely unable to withdraw your money, it’s the most common scam of fraudulent brokers. We can help you get your money back, this is the best legal current solution if your bank doesn’t want to help you.
Depending on the level of investment that you join the FXTrading Corp opportunity at you can earn up to 2.5% for 200 days. When dealing with the ROI Commissions all you really have to do to start earning according to the company website is to make an investment in what of the packages they offer. First make sure that you execute your forex trades through reputable brokers that are licensed and free of regulatory infractions. At the time of its collapse in 2005, Refco, a New York commodity broker catering to forex traders, had about $4 billion in client assets, with liabilities reaching upwards of $75 billion. Investors who suspect fraud or want more information can visit The National Futures Association’s website, , also allows people to run background checks on brokers. Investors should avoid high-pressure sales, confusing investments and brokers who encourage them to mortgage their home or cash out their retirement savings. Mr. Ward required a minimum $50,000 investment, and told investors they could anticipate significant returns. Little of the money was invested, and Brown paid early investors with cash coming in from subsequent investors to lull them into believing the investments were paying off as promised. Authorities charged that Brown, owner and president of Brown Investment Services, promised investors he could double their money every 30 business days through trading on the Foreign Currency Exchange Market. The investors were then directed to the false websites and told to transfer funds into the bank account in Malaysia.

Recover your Lost funds immediately

Along with the commission structure, they also institute a policy of minimizing the amount of customer money committed to the market as premium by purchasing less expensive “out-of-the-money” positions. The butterfly spreads consist of four puts or calls , resulting in four commissions for each butterfly option position, or $720 per spread. At the principal’s direction the companies engage in a deliberate course of conduct to defraud and deceive customers. They typically charge its customers a commission of $175 per option to buy an option with a commission fee of $75 to offset an option transaction. Companies will make deceptive, misleading and high-pressured sales solicitations. Often principals fail to diligently supervise employees and agents in the conduct of their commodity futures activities. This type of investment scam terminology is often used along with Prime Bank Schemes and substantiated by Ponzi payments. Such leveraged trading allows investors to speculate with a cash margin of less than 5% of the U.S. dollar price for foreign currencies such as the German Mark, the Swiss Franc, the British Pound and the Japanese Yen. Guarantees – beware of anyone giving you a guarantee that you will get a return from your investment or your money back if your investment does not work.
For money movers and makers
You will only earn from the weaker or the leg the has fewer sales or lesser volume. When you personally sponsor a new member into the FX Trading Corp opportunity that makes an investment you will earn 6% from their initial investment. Bot50000 Level – This level will require a $50,000 investment to join. Bot40000 Level – This level will require a $40,000 investment to join.

Forex trading fraud: the 4 worst offenders of recent times

In the following lesson, we will teach you about the different types of scams out there, how to prepare yourself, and what you can do in case you encounter a scam. Determine significant support and resistance levels with the help of pivot points. Find the approximate amount of FOREX SCAM currency units to buy or sell so you can control your maximum risk per position. From basic trading terms to trading jargon, you can find the explanation for a long list of trading terms here. Although I just heard about FX trading from a friend who has joined one month ago.
How did FX Viper blow up his account?
FXVC offers their day traders and Forex investors, the popular CFD trading platform called TraderSoft. The rise of the internet age has also given rise to internet scams. A forex scam is nothing new, and most traders are aware that trading forex necessitates a basic acceptance of the risks involved in interacting with a broker. Funds raised weren’t used to invest in the forex market, but were instead diverted to bank accounts in Cyprus and Russia, prosecutors said. Employees of the firm allegedly used false and misleading sales pitches and high-pressure sales tactics to convince people to invest in its purported forex trading program, the government said. In a suit filed earlier this month, the CFTC alleged that Miami-based Rodriguez had burned about 400 investors for a total of $1.5 million after promising them 300 percent trading profits. In addition, prosecutors said they told victims who invested that their accounts were earning substantial positive returns, when in fact they were being paid with new investor money. A similar foreign currency trading scheme, Unique Financial Concepts, Inc., was also sued by the SEC. Ken Tripoli pled guilty to one count of conspiracy to commit mail fraud and wire fraud and one count of money laundering and faces a maximum sentence of twenty years. This reduced the up-front fee to the 12 to 13 percent range, tripled the per option commission to $180, and allowed them to begin trading butterfly spreads for their customer accounts, which were mostly discretionary.

Always verify that your broker, is licensed by your local financial regulator. It is not the place to put any money that you cannot afford to lose, such as retirement funds, as you can lose most or all it very quickly. The CFTC has witnessed a sharp rise in forex trading scams in recent years and wants to advise you on how to identify potential fraud. In the worst cases the account manager who claims to trade the investors capital for a percentage of the profits, actually just appropriates the funds for themselves. Not all Forex managed accounts are out there to scam you, some are indeed well qualified to trade your money, but in that case you need to do research about them. Know their trading technique and make sure you’ve read a lot of positive recommendations.

  • William F. McCray and Paul Yates were indicted in August 2000 on charges that they lured the public to invest $30 million in International Forex and Earthwise International, two firms that purportedly traded foreign currency.
  • They encourage such high commissions by financially rewarding account executives based only on the volume of options purchased, and by discouraging or prohibiting the purchase of more expensive options.
  • Fx Trading Corp also offers prizes when you reach a certain amount of accomplishment in the compensation plan that the company offers.
  • Mr. Bennett simply shuffled the bad debt of Refco between the company and certain hedge funds and shadow entities funded by Refco’s own capital.
  • We get a lot of threats from fraudulent brokers who don’t want us to tell the truth.

*Information not comfirmed*

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