Caution Investors 77 markets – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Overview:
77 markets offshore regulated is a forex and CFD broker that claims to offer trading services in various markets, such as currencies, commodities, indices, stocks, and cryptocurrencies. However, this broker is not regulated by any reputable authority and does not have a valid license to operate in any jurisdiction. This means that 77 markets offshore are not subject to any rules or standards that ensure fair and transparent trading practices, customer protection, and security of funds.
Regulation and Compliance:
One of the most important factors to consider when choosing a broker is whether it is regulated by a credible and competent regulator. Regulation ensures that brokers comply with the laws and regulations of the country where they operate and that they follow ethical and professional standards. Regulated brokers are also required to segregate client funds from their own, participate in compensation schemes that cover losses in case of insolvency, and provide regular reports and audits to the regulator.
77 markets offshore regulated does not have any regulation or license from any authority. It claims to be registered in St. Vincent and the Grenadines, but this is a notorious offshore jurisdiction that does not regulate forex or CFD brokers. This means that 77 markets offshore regulated can operate with impunity and without any oversight or accountability. If you trade with this broker, you are putting your money at risk of being stolen or misused by the broker.
Customer Reviews:
Another way to assess the reputation and reliability of a broker is to look at customer reviews and feedback. This can give you an insight into the quality of the services, the trading conditions, the customer support, and the overall satisfaction of the clients. However, you should also be careful about fake or paid reviews that are meant to deceive or mislead potential customers.
77 markets offshore regulated have very few customer reviews online, and most of them are negative. Many clients have complained about the poor customer service, the high fees and commissions, the difficulty in withdrawing funds, and the aggressive marketing tactics of the broker. Some clients have even accused 77 markets offshore regulated of being a scam and fraud.
Products and Services:
Before you sign up with a broker, you should also check what products and services it offers and whether they suit your trading needs and preferences. You should look at the variety of instruments, the types of accounts, the platforms, the tools, the features, and the available educational resources.
77 markets offshore regulated offer four types of accounts: Basic, Silver, Gold, and Platinum. The minimum deposit for the Basic account is $250, which is relatively high compared to other brokers. The leverage ranges from 1:100 to 1:400, depending on the account type. The spreads are variable and start from 2.8 pips for the Basic account, which is also very high compared to the industry average. The broker also charges commissions on some trades, as well as fees for withdrawals, inactivity, maintenance, and conversion.
77 markets offshore regulated provides access to two trading platforms: MetaTrader 4 (MT4) and Status Web Trader. MT4 is a popular and widely used platform that offers advanced charting tools, indicators, expert advisors, automated trading, and customization options. Status Web Trader is a web-based platform that does not require any download or installation and can be accessed from any browser or device. However, both platforms have limited functionality and features compared to other brokers.
77 markets offshore regulated does not offer any educational or research materials for its clients. There are no webinars, tutorials, articles, e-books, or market analyses that can help traders improve their skills and knowledge. There are also no trading signals, alerts, news feeds, or calendars that can assist traders in making informed decisions.
Location:
The location of a broker can also affect its credibility and legitimacy. You should avoid brokers that are based in offshore or unregulated jurisdictions where there is no legal protection or recourse for traders. You should also be wary of brokers who do not disclose their physical address or contact details on their website or use fake or misleading information.
77 markets offshore regulated claims to be located at Suite 305 Griffith Corporate Centre Beachmont Kingstown St Vincent And The Grenadines with registration number 25987 BC 2020. However, this address is used by many other shady brokers that operate without regulation or license. Moreover, this address does not correspond to any actual office or building in St Vincent And The Grenadines. The broker also does not provide any phone number or email address on its website. The only way to contact them is through a web form that may not elicit any response.
Customer Service:
Customer service is another crucial aspect of a broker’s performance and reputation. You should look for a broker that offers responsive, professional, and helpful customer support that can resolve your issues and queries in a timely and satisfactory manner. You should also look for a broker that offers multiple channels of communication, such as phone, email, live chat, or social media.
77 markets offshore regulated have deplorable customer service that is often unresponsive, rude, or incompetent. Many clients have reported that the broker does not answer their calls or emails, or that they receive automated or generic responses that do not address their problems. Some clients have also reported that the broker’s representatives are pushy and aggressive and try to persuade them to deposit more money or to accept bonuses that come with restrictive conditions.
Is Your Money Safe in an unregulated company?
The answer to this question is a resounding no. If you trade with an unregulated company, you are exposing yourself to a high risk of losing your money. Unregulated brokers are not bound by any rules or standards that ensure the safety and security of your funds. They can manipulate the prices, execute your orders against your interests, refuse to process your withdrawals, or even disappear with your money.
Unregulated brokers are also not subject to any external audits or supervision that can verify their financial stability and solvency. They can use your money for their purposes, such as paying other clients’ withdrawals, covering their operational costs, or funding their lavish lifestyles. They can also go bankrupt or insolvent without any warning or compensation.
Unregulated brokers are also not members of any compensation schemes that can cover your losses in case of the broker’s failure. If an unregulated broker goes out of business or becomes insolvent, you will have no legal recourse or protection to recover your money. You will be left with nothing but frustration and regret.
Defensive Measures Against Fraudulent Brokers:
If you want to avoid falling victim to fraudulent brokers, you should take some defensive measures that can protect you and your money. Here are some tips that can help you:
– Do your research before choosing a broker. Check the broker’s regulation, license, reputation, reviews, products, services, location, and customer service. Compare different brokers and look for the best ones that suit your needs and preferences.
– Avoid brokers that are based in offshore or unregulated jurisdictions where there is no legal protection or recourse for traders. Look for brokers regulated by reputable authorities such as the FCA in the UK, the ASIC in Australia, the CySEC in Cyprus, or the NFA in the US.
– Avoid brokers that offer unrealistic or too-good-to-be-true offers, such as high leverage, low spreads, no commissions, no fees, huge bonuses, guaranteed profits, or risk-free trades. These are usually signs of scams that are meant to lure you into depositing money and then prevent you from withdrawing it.
– Avoid brokers that use aggressive or deceptive marketing tactics, such as cold calls, spam emails, fake testimonials, false endorsements, or misleading information. These are usually signs of unprofessionalism and dishonesty that indicate a lack of credibility and legitimacy.
– Avoid brokers that ask for personal or financial information that is not relevant or necessary for trading purposes, such as your ID card, bank account details, credit card numbers, passwords, PIN codes, etc. These are usually signs of phishing or identity theft that can expose you to fraud and loss.
– Avoid brokers that pressure you to deposit more money or accept bonuses that come with restrictive conditions. These are usually signs of manipulation and coercion that can limit your control over your funds and trading activities.
– Avoid brokers that do not allow you to withdraw your money or impose unreasonable delays or fees on your withdrawals. These are usually signs of fraud and theft that can prevent you from accessing your money.
– If you suspect that you have been scammed by a broker, report it to the relevant authorities and seek legal advice as soon as possible. You should also warn other traders about the broker and share your experience online.
Conclusion:
77 markets offshore regulated is an unauthorized entity that operates in violation of the law and exposes you to high risks of fraud and loss. This broker is not regulated by any reputable authority and does not have a valid license to operate in any jurisdiction. This means that 77 markets offshore are not subject to any rules or standards that ensure fair and transparent trading practices, customer protection, and security of funds.
77 markets offshore regulated have very poor customer service, high fees and commissions, difficulty in withdrawing funds, and aggressive marketing tactics. Many clients have complained about the broker’s performance and reliability and have accused it of being a scam and a fraud.
We strongly advise you to avoid 77 markets offshore regulated at all costs and to look for a better alternative. Many reputable and trustworthy brokers out there can offer you a safe and satisfying trading experience.
