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Do You Want to Know If 5Markets Is Legitimate or a Scam Broker?
5Markets–we don’t know which 5 markets they are talking about–isn’t even licensed to offer brokerage services in one market. 5Markets has no license at all. They claim they are licensed by St. Vincent and the Grenadines, which is a safe haven for scam brokers. They offer people a fake certificate that doesn’t mean anything at all. This doesn’t entitle them to operate as brokers and manage people’s money. In addition, 5Markets has been flagged by the SFC and the BCSC–major regulators who have said this broker is a scam.
There Are Some Problems with 5Markets
5Markets offers undesirable trading conditions. First of all, it doesn’t offer the industry-standard MetaTrader 4 or 5. Its own web based platform is unsatisfactory. Also, its minimum deposit is very high, so are the pips, and this broker charges you many fees, including a high withdrawal fee. There is no way this broker is regulated–it breaks so many rules its almost unbelievable. Stay away from 5Markets.
Red Flags that 5Markets Could Be a Scam Broker
- No license
- No transparency
- False claims
- Bad reviews
If You Need Fund Recovery from 5Markets, Talk to Us
We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with 5Markets close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.