Caution Investors FXGMARKETS.COM – Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
Overview:
FXGMARKETS.COM is a website that claims to offer online trading services in forex, commodities, indices, stocks, and cryptocurrencies. The website does not provide any information about the company behind it, its registration, license, or regulation. The website also does not disclose any contact details, terms and conditions, or risk warnings. The website has a very low trust score and is flagged as potentially unsafe by several online tools.
Regulation and Compliance:
FXGMARKETS.COM is not regulated by any reputable financial authority. The CNMV, the Spanish financial regulator, issued a warning against FXGMARKETS.COM on 13 December 2021, stating that it is not authorized to provide investment services or auxiliary services in Spain. The CNMV also advises investors to exercise extreme caution before dealing with this entity and to verify its identity and authorization status.
Customer Reviews:
FXGMARKETS.COM has very few customer reviews online, and most of them are negative. Customers complain about poor customer service, difficulty in withdrawing funds, aggressive marketing tactics, false promises of profits, and manipulation of trading results. Some customers also report that they have been scammed by FXGMARKETS.COM and have lost their money.
Products and Services:
FXGMARKETS.COM claims to offer a variety of trading products and services, such as a web-based trading platform, a mobile app, educational resources, market analysis, trading signals, and account types. However, these claims are not verified or supported by any evidence. The website does not provide any details about the trading conditions, fees, spreads, leverage, margin requirements, or execution policies. The website also does not offer any demo accounts or free trials.
Location:
FXGMARKETS.COM does not disclose its physical location or address. The website only provides an email address and a phone number as contact options. However, these contact details are not reliable or responsive. The phone number has a UK country code (+44), but this does not mean that the company is based or regulated in the UK. The website also does not specify which countries it accepts or restricts clients from.
Customer Service:
FXGMARKETS.COM has a very poor customer service record. Customers report that they are unable to reach the company by phone or email, or that they receive delayed or unhelpful responses. Customers also report that they are pressured to deposit more money or to accept bonuses that come with hidden terms and conditions. Customers who request to withdraw their funds are either ignored or denied without valid reasons.
Is Your Money Safe in an unregulated company?
The answer is no. Investing with an unregulated company like FXGMARKETS.COM exposes you to a high risk of losing your money. Unregulated companies are not bound by any rules or standards of conduct that protect investors’ rights and interests. They can operate in an unethical or illegal manner without facing any consequences. They can also disappear with your money without leaving any trace.
Defensive Measures Against Fraudulent Brokers:
If you are considering investing with an online broker, you should always do your due diligence and research before making any decision. Here are some defensive measures that you can take to avoid fraudulent brokers:
– Check the regulatory status of the broker on the official websites of the relevant financial authorities.
– Check the reputation and reviews of the broker on reputable online platforms and forums.
– Check the website and contact details of the broker for any red flags or inconsistencies.
– Check the terms and conditions, risk warnings, and disclosure documents of the broker for any hidden clauses or fees.
– Check the trading platform and services of the broker for any technical issues or malfunctions.
– Check the withdrawal process and policies of the broker for any delays or restrictions.
– Avoid brokers that offer unrealistic returns, bonuses, guarantees, or incentives.
– Avoid brokers that pressure you to deposit more money or to accept unsolicited offers.
– Avoid brokers that manipulate your trading results or interfere with your trading decisions.
Conclusion:
FXGMARKETS.COM is an unauthorized entity that has been warned by the CNMV for providing investment services without authorization. The company has a very low trust score and a very poor customer service record. The company does not provide any information about its location, regulations, products, services, or trading conditions. The company exposes investors to a high risk of losing their money. We advise you to stay away from FXGMARKETS.COM and to report any suspicious activity to the relevant authorities.
