Caution Investors ecnfuture.com – Regarding falsely claiming association with registered Australian businesses or financial services licensees and their authorized representatives.
Overview:
ecnfuture.com is a website that offers online trading services, such as forex, CFDs, commodities, and cryptocurrencies. The website claims to be operated by ECN Future Pty Ltd, a company that is allegedly regulated by the Australian Securities and Investments Commission (ASIC). However, this is a lie. ASIC has issued a public warning against ecnfuture.com and ECN Future Pty Ltd, stating that they are not licensed or authorised to provide financial services in Australia. Moreover, ASIC has confirmed that ECN Future Pty Ltd is not associated with the legitimate entity ECN Trade Pty Ltd, which is an ASIC-regulated broker.
Regulation and Compliance:
Regulation and compliance are essential factors to consider when choosing an online broker. A regulated broker must follow strict rules and standards to protect the interests and funds of its clients. A regulated broker must also submit regular reports and audits to the regulator, and participate in a compensation scheme in case of insolvency. On the other hand, an unregulated broker can operate without any oversight or accountability, and can manipulate prices, execute unfair trades, withhold withdrawals, or even disappear with your money.
Customer Reviews:
A quick search on the internet reveals that ecnfuture.com has a very poor reputation among traders. Many customers have complained about the broker’s dishonest practices, such as false advertising, misleading information, hidden fees, poor execution, delayed or denied withdrawals, and aggressive sales tactics. Some customers have even reported that ecnfuture.com has blocked their accounts or deleted their profits without any explanation. These customer reviews confirm that ecnfuture.com is a scam that should be avoided at all costs.
Products and Services:
ecnfuture.com claims to offer a wide range of products and services to its clients, such as multiple trading platforms, various account types, competitive spreads and commissions, educational resources, and market analysis. However, these claims are not backed by any evidence or verification. In fact, ecnfuture.com does not provide any details about its trading conditions, such as leverage, margin requirements, swap rates, or order execution policies. Moreover, ecnfuture.com does not disclose the risks involved in trading with high leverage or volatile instruments. Therefore, it is likely that ecnfuture.com uses these products and services as bait to lure unsuspecting traders into its trap.
Location:
ecnfuture.com claims to have its headquarters in Sydney, Australia, and to have offices in London, UK, and Hong Kong. However, these claims are also false. As mentioned earlier, ecnfuture.com is not regulated by ASIC or any other reputable regulator in these jurisdictions. Moreover, ecnfuture.com does not provide any physical address or contact details for its offices. Therefore, it is impossible to verify the location or existence of ecnfuture.com.
Customer Service:
ecnfuture.com claims to have a professional and responsive customer service team that is available 24/7 via phone, email, or live chat. However, this claim is also contradicted by the customer reviews. Many customers have reported that ecnfuture.com’s customer service is rude, unhelpful, or unreachable. Some customers have even claimed that ecnfuture.com’s customer service agents have harassed them with calls or emails to pressure them into depositing more money or opening more trades.
Is Your Money Safe in an unregulated company?
The answer is no. Your money is not safe in an unregulated company like ecnfuture.com. When you deposit money with ecnfuture.com, you are entrusting your funds to an unknown entity that can do whatever it wants with your money. You have no guarantee that your money will be segregated from the company’s funds, or that your money will be available for withdrawal when you request it. You also have no recourse or protection if ecnfuture.com goes bankrupt or runs away with your money.
Defensive Measures Against Fraudulent Brokers:
If you are looking for a reliable and trustworthy online broker, you should avoid ecnfuture.com and any other unregulated broker like it. Instead, you should do your due diligence and research before choosing a broker. You should check the following aspects:
– The regulation and license of the broker
– The reputation and feedback of the broker
– The trading conditions and fees of the broker
– The security and transparency of the broker
– The customer service and support of the broker
You should also be wary of any broker that offers unrealistic or too-good-to-be-true promises, such as high returns, low risks, free bonuses, or guaranteed profits. These are usually signs of a scam.
Conclusion:
In conclusion, ECNfuture.com’s fraudulent activities, falsely claiming ASIC regulation, have been meticulously exposed. ASIC’s public warning, combined with a thorough analysis, reveals the broker’s deceptive practices and lack of regulatory compliance. Customer reviews underscore the severity of the situation, citing false advertising, hidden fees, and obstructive withdrawal processes. The absence of critical trading information, coupled with dubious global office claims, further erodes ECNfuture.com’s credibility. It is evident that entrusting funds to an unregulated entity poses significant risks, as highlighted by ASIC.
To safeguard against such scams, due diligence is paramount. Traders should prioritize regulated brokers with transparent trading conditions, proven track records, and a commitment to customer safety. Defensive measures include thorough research into a broker’s regulation, reputation, fees, security practices, and customer service. Given the volatile nature of online trading, skepticism towards unrealistic promises is essential. By adopting a cautious approach and adhering to these measures, traders can mitigate the risks associated with fraudulent brokers like ECNfuture.com and secure their investments in the dynamic realm of online financial markets.
