FCF Markets Review
Beware Investors FCF Markets – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
Who is FCF Markets:
FCF Markets is the trading name of FCF Group Ltd, a company that offers online trading services in forex, CFDs, commodities, indices, and cryptocurrencies. The broker claims to have offices in London, Madrid, and Dubai, and to be authorized and regulated by the Financial Conduct Authority (FCA) in the UK and the Comisión Nacional del Mercado de Valores (CNMV) in Spain.
Regulation:
However, both the FCA and the CNMV have issued warnings against FCF Markets, stating that the broker is not authorized to provide investment services or activities in their jurisdictions. The FCA also noted that some firms may use the details of a genuine firm or individual to try to scam people. Therefore, traders should be wary of dealing with FCF Markets and verify the identity of any firm they are considering investing with.
Location:
According to its website, FCF Markets has three addresses: 20-22 Wenlock Road, London N1 7GU, UK; Calle de Velázquez 53, 28001 Madrid, Spain; and Level 41, Emirates Towers, Sheikh Zayed Road, Dubai, UAE. However, these addresses may not be accurate or reliable, as the broker is not registered or licensed in any of these countries. Moreover, the broker does not provide any phone number or email address for customer support, which raises further doubts about its legitimacy and transparency.
Services:
FCF Markets offers four types of trading accounts: Basic, Standard, Premium, and VIP. The minimum deposit required to open an account ranges from $250 to $50,000. The broker claims to provide competitive spreads, leverage up to 1:400, fast execution, and access to various trading platforms, including MetaTrader 4, WebTrader, and MobileTrader. However, the broker does not disclose any information about its trading conditions, fees, commissions, or withdrawal policies on its website. This makes it difficult for traders to assess the risks and benefits of trading with FCF Markets.
Reviews:
There are very few reviews or testimonials about FCF Markets online. The ones that are available are mostly negative and warn potential clients about the broker’s fraudulent or manipulative practices. Some of the complaints include:
– Being pressured to deposit more money or upgrade their account
– Not being able to withdraw their funds or profits
– Having their account closed or blocked without explanation
– Receiving misleading or false information about the market or their trades
– Being contacted by different account managers who give conflicting advice or signals
Customer Service:
As mentioned earlier, FCF Markets does not provide any contact details for customer support on its website. The only way to reach the broker is through a live chat feature or a contact form. However, many clients have reported that the broker’s customer service is unresponsive, rude, or unprofessional. Some of the issues that clients have faced include:
– Not receiving any reply or confirmation after sending a withdrawal request
– Being ignored or hung up on when asking for help or clarification
– Being insulted or threatened when complaining or requesting a refund
– Being offered bonuses or incentives that have hidden terms and conditions
Securing Your Investments Against Unscrupulous Brokers:
Trading with unregulated or unlicensed brokers can expose traders to various risks and losses. Therefore, it is important to do some research and due diligence before choosing a broker to invest with. Some of the steps that traders can take to secure their investments against unscrupulous brokers are:
– Check the regulatory status and reputation of the broker on the websites of reputable authorities such as the FCA or the CNMV
– Verify the contact details and address of the broker and avoid brokers that use PO boxes or virtual offices
– Read the terms and conditions and fine print of the broker carefully and look for any hidden fees or clauses
– Avoid brokers that offer unrealistic returns or guarantees or that use aggressive marketing tactics
– Use secure payment methods such as credit cards or e-wallets that offer chargeback options in case of fraud
– Keep records of all communications and transactions with the broker and report any suspicious activity to the relevant authorities
Conclusion:
FCF Markets is a forex and CFD broker that claims to be regulated by the FCA and CNMV, but these authorities have issued warnings against it. The broker has also received numerous complaints and negative reviews from clients who have experienced fraudulent or manipulative practices. Therefore, we advise traders to avoid FCF Markets and look for a more reliable and trustworthy broker.
