Caution Investors Mainxtrade – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Overview:
75markets.com is a forex and CFD broker that claims to offer trading on various assets, such as currencies, commodities, indices, stocks, and cryptocurrencies. The broker claims to be based in Australia and to be regulated by the Australian Securities and Investments Commission (ASIC). However, ASIC has issued an alert warning that 75markets.com is a suspected imposter entity that may be impersonating or falsely claiming to be working with a registered Australian business or licensee. ASIC advises investors to exercise extreme caution when dealing with 75markets.com and to avoid sending money or personal information to the entity.
Regulation and Compliance:
As mentioned above, 75markets.com claims to be regulated by ASIC, which is the financial regulator in Australia. However, ASIC has not authorised 75markets.com to provide financial services in Australia or to use its name or logo. In fact, ASIC has warned that 75markets.com may be involved in a scam or fraud. Therefore, 75markets.com is not regulated or compliant with any reputable authority and does not have a valid license to operate as a broker.
Customer Reviews:
There are very few customer reviews available online for 75markets.com. The few that exist are mostly negative and report various issues, such as difficulty in withdrawing funds, poor customer service, aggressive marketing tactics, false promises, and manipulation. Some customers also claim that they have been scammed by 75markets.com and that they have lost their money. There are no positive or neutral reviews that can verify the legitimacy or reliability of 75markets.com.
Products and Services:
75markets.com claims to offer trading on various assets, such as currencies, commodities, indices, stocks, and cryptocurrencies. The broker also claims to provide various trading platforms, such as MetaTrader 4, WebTrader, and MobileTrader. However, there is no evidence that 75markets.com actually offers these products and services or that they are of good quality. The broker does not provide any information about its trading conditions, such as spreads, commissions, leverage, margin requirements, or execution speed. The broker also does not disclose any information about its account types, deposit and withdrawal methods, fees, or bonuses.
Location:
75markets.com claims to be based in Australia and to have an address at Level 5/530 Collins Street Melbourne VIC 3000 Australia. However, this address is not verified and may be fake or misleading. The broker does not have a phone number or an email address that can be used to contact them. The only way to communicate with the broker is through a live chat feature on their website, which may not be responsive or helpful.
Customer Service:
As mentioned above, the only way to communicate with 75markets.com is through a live chat feature on their website. However, this may not be a reliable or effective way to get support or assistance from the broker. Many customers have reported that the live chat is either unavailable or unresponsive. Some customers have also reported that the live chat agents are rude, unprofessional, or dishonest. The broker does not offer any other means of customer service, such as phone support, email support, or social media channels.
Is Your Money Safe in an unregulated company?
The answer is no. Dealing with an unregulated company like 75markets.com exposes you to many risks and dangers. You may not have any legal protection or recourse if the company fails to fulfill its obligations or if it engages in fraudulent or illegal activities. You may also lose your money if the company goes bankrupt or disappears without a trace. Moreover, you may not have access to your funds if the company imposes unreasonable restrictions or delays on your withdrawals. You may also face hidden fees or charges that can erode your profits.
Defensive Measures Against Fraudulent Brokers:
If you want to avoid being scammed by fraudulent brokers like 75markets.com, you should take some defensive measures before choosing a broker. Here are some tips:
– Do your research: Check the background and reputation of the broker online. Look for customer reviews, ratings, complaints, testimonials, and feedback. Verify the license and regulation of the broker with the relevant authorities. Avoid brokers that have negative reviews, warnings, alerts, or blacklists.
– Read the terms and conditions: Carefully read the terms and conditions of the broker before signing up or making a deposit. Look for any clauses that may limit your rights or benefits as a customer. Pay attention to any fees, charges, commissions, spreads, leverage, margin requirements, bonuses, withdrawal conditions, or penalties.
– Test the platform: Try out the trading platform of the broker before committing any money. Look for any features, tools, indicators, charts, or signals that may enhance your trading experience. Check the speed, stability, and security of the platform. Compare the platform with other reputable brokers and see if there are any differences or discrepancies.
– Start small: If you decide to trade with a broker, start with a small amount of money that you can afford to lose. Do not invest more than you can risk. Monitor your trading performance and results. If you encounter any problems or issues, contact customer service and seek a resolution. If you are not satisfied or comfortable with the broker, withdraw your money and close your account.
Conclusion:
75markets.com is a suspected imposter entity that may be impersonating or falsely claiming to be working with a registered Australian business or licensee. The broker is not regulated or licensed by ASIC or any other reputable authority. The broker has received many negative reviews and complaints from customers who have been scammed or cheated by the entity. The broker does not provide any information about its products and services, location, or customer service. The broker poses a high risk of losing your money and being involved in a fraud or scam. Therefore, we advise you to avoid dealing with 75markets.com and to choose a regulated and reputable broker instead.
