Name of Broker – FX Merchants
Website – http://fxmerchants.com/
Address – UNITED KINGDOM
Regulated By – None
Warning Issued By – Financial Conduct Authority (FCA)
If you want to safeguard your funds and avoid these scams, read the FX Merchants review and get to know about the scam activities of broker in detail.
The era of the internet has made people habitual of getting the benefits at the earliest. Sometimes it leads people to ignore the harmful effect of the online world. Several online platforms enable you to gain endless information and profits. Forex trading is one such platform to earn a higher yield. Several new or experienced investors are curious and trying their hands on trading without looking at the other side of trading platforms and markets. One of the major drawbacks here lies in the scam done by scam brokers who can be any Scam Forex broker, Scam Cryptocurrency broker, Scam Investment company, Romance/Dating scammer, Pet scammer, etc. These brokers have a unique yet common way of finding their victims through cold calling, creating fake websites, or a pop-up advertisement. There have been proofs of scam activities done by this broker as the All Scam Reports Team has done a thorough investigation.
FX Merchants is a forex broker that professes to be based and enrolled in the United Kingdom. The agreements express the organization is under the purview of the UK, yet it is really not managed in the country. Additionally, the organization has as of late been boycotted by the UK’s FCA.
Examine the below-mentioned points in FX Merchants Review to know the reliability of Broker –
When you are looking for a trade, it is immensely important to identify a broker that is reliable and legit. But, there are some reasons why we have tagged this Review in our scam broker 2022 list of scam brokers.
Regulation Status of FX Merchants –
The regulation status of a broker is one of the most critical points while choosing the right broker. Here, this broker seems not to be regulated in its jurisdiction of operation and is indulged in scam activities. There is a high possibility that the broker has been warned by reputed regulation authorities like CySec, ASIC, FCA, CNMV, FINMA, etc. Warning issued by any of these authorities clearly indicated that the broker is not a good fit to invest your hard-earned money with.
Complaints Against FX Merchants Broker –
A number of complaints have been found regarding the scam broker in the various online review sites. A low rating on several online platforms makes it clear that the broker has a negative reputation among the investors. The investors have accused them of being scam brokers and state how they have been victims of the FX Merchants scam and lost all their money and efforts to them.
Leverages and Accounts
The genuine brokers that are operating in the market often require low deposits as high deposits are not in the favour of the regulatory bodies. Whereas, this broker tends to charge a huge deposit amount that is a major red flag to avoid moving further with your investment journey. The same criteria goes with leverage, as the leverage offered by legit firms is low and in small amounts. Whereas, the broker tends to offer high leverage, shaping it as a scam broker.
Final Thoughts –
All Scam Reports Team advises the user to avoid investing here, as we have found that this broker is suspicious, and operating without any legal license. Compiling together all the points mentioned in this review, it can be concluded that FX Merchants is a potential scam broker. Investors should always remember that the scammers don’t have any right to take away their funds in illegal ways and hence, it is their responsibility to fight for it and get it back from the scammers. All Scam Reports Team is here to help you out in this situation of fund recovery. All you need to do is to fill out a small complaint form and we will be in touch with you shortly with a Free consultation.
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