75markets.com Review
Beware Investors 75markets.com – Regarding falsely claiming association with registered Australian businesses or financial services licensees and their authorized representatives.
Who is 75markets?
75markets is a forex and CFD broker that offers trading on various assets, such as currencies, commodities, indices, stocks, and cryptocurrencies. The broker claims to be based in Australia and regulated by the Australian Securities and Investments Commission (ASIC), but this is not true. 75markets is not registered with ASIC, nor is it authorized by any legitimate financial services provider. In fact, 75markets is a scam that uses fake credentials and misleading information to lure unsuspecting traders into depositing money with them.
Regulation:
Regulation is one of the most important factors to consider when choosing a broker. A regulated broker must comply with the rules and standards of a reputable authority, such as ASIC, FCA, CySEC, or NFA. These authorities monitor and supervise the brokers’ activities, ensure fair and transparent trading conditions, protect the client’s funds, and provide dispute resolution services. A regulated broker also has to follow strict anti-money laundering and KYC policies, which prevent fraud and identity theft.
Location:
75markets claims to be located at Level 5, 530 Collins Street, Melbourne VIC 3000, Australia. However, this address is fake and does not belong to the broker. According to ASIC’s alert, 75markets is actually operated by an entity called Eternity Finance LLC, which is based in St. Vincent and the Grenadines, a notorious offshore jurisdiction. Offshore brokers are not regulated by any authority and can operate without any oversight or accountability. They often engage in illegal and unethical practices, such as manipulating prices, refusing withdrawals, or stealing personal information.
Services:
75markets offers trading on four types of platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), WebTrader, and Mobile Trader. The broker claims to provide competitive spreads, fast execution, high leverage, and low commissions. However, these claims are not verified by any independent source or third-party review. Moreover, the broker does not disclose the trading conditions or fees for each platform or account type. This raises doubts about the transparency and reliability of the broker’s services
Reviews:
75markets has very few reviews online, and most of them are negative. Many traders have reported that 75markets is a scam that does not allow them to withdraw their money or close their accounts without explanation. Some traders have also complained about the poor customer service, aggressive marketing tactics, and false promises of the broker. There are no positive reviews or testimonials from satisfied clients that can confirm the legitimacy or quality of 75markets.
Customer Service:
75markets claims to offer 24/7 customer support via phone, email, live chat, and social media. However, many traders have reported that the customer service is unresponsive, rude, or unhelpful. The phone numbers provided by the broker are either invalid or unreachable. The email responses are delayed or automated. The live chat is often offline or unavailable. The social media accounts are inactive or deleted.
Why Check Company Credentials:
Checking the credentials of a broker is crucial to avoid falling victim to scams or frauds. A legitimate broker should have a valid license from a reputable authority, such as ASIC. A license proves that the broker has met the minimum requirements of capital adequacy, financial stability, operational efficiency, and customer protection. A licensed broker should also display its registration number and contact details on its website and verify them on the authority’s website.
Securing Your Investments: Shielding Against Unscrupulous Brokers
Securing your investments from unscrupulous brokers requires caution and due diligence. Before choosing a broker, you should do some research and compare different options based on their regulation, reputation, trading conditions, fees, security features, and customer service. You should also read the terms and conditions carefully and understand your rights and obligations as a trader. You should never invest more than you can afford to lose or accept any bonuses or incentives that may restrict your withdrawals. You should also keep track of your transactions and report any suspicious or fraudulent activity to the relevant authority.
Conclusion:
75markets is a forex and CFD broker that falsely claims to be regulated by ASIC but is actually a scam that operates from an offshore location. The broker has no credibility or trustworthiness and poses a high risk to your investments. You should avoid 75markets at all costs and choose a regulated and reputable broker instead.
