Forex Funders Review: The FCA Warns Traders About Forex-funders.com
Our Forex Funders review uncovers the truth hidden behind the company and its operations. Join us in this in-depth investigation to learn more about this scam firm and how to avoid it. Additionally, we prepared a deep Fivoro evaluation for you to read.
This company knows nothing about security and transparency, making them another number on our blacklist. Instead of providing trading assistance, they handle your funds and you’re actually trading through them. Keep reading to learn more!
About Forex Funders
The domain of Forex Funders was registered only recently, in October. They claim to be a firm registered in the UK, however, that is far from the truth. The FCA warned traders about Forex Funders and how they’re operating without a license while offering financial services.
Additionally, the identity of the owner is hidden on WHOIS, along with their real registered address, although it’s confirmed they’re located in the UK. According to ScamAdviser, the score for this company is very low because the website’s data-sensitive services are hosted on a shared server and the references on social media were negative.
When you search this firm online, there won’t be one positive thing you’ll find. Even checking for any Forex Funders reviews won’t get you far. The company is completely anonymous online. But the truth always comes out, so keep reading our Forex Funders review to learn more.
|71-75 Shelton Street London WC2H 9JQ, United Kingdom
|Financial Authorities Warnings
|If a withdrawal is possible
|If Active on Social Media:
|United States, South Africa, India, Nigeria, United Kingdom;
|FCA warning; Unregulated status;
Prop firms like Forex Funders are not usually required to be regulated. That is because they’re not offering financial services directly and instead, you are connected with a brokerage company that they’re partnered with. However, that is not the case with this prop firm.
Instead of offering tools and resources, they offer an opportunity to invest directly with them. However, to ‘allocate’ someone’s assets and offer investment possibilities, regulatory oversight would be required. After doing some digging, we found out they’re not a regulated entity.
Instead of being regulated by FCA as they claim to be operating from the UK, the FCA published an alert, warning UK residents to stay away from this fraudulent company. Take a look yourself:
That said, we believe it’s clear by now why trusting this company isn’t the best choice you’ll make. Stay away from them and companies that are alike, such as Geneticrypto.
Forex Funders Features
An online marketplace, Forex Funders provides cutting-edge options to both individuals and companies wishing to participate in the international foreign exchange market. Their goal is to enable new and seasoned traders to make wise decisions and succeed by democratizing the forex trading market with easy-to-use tools and materials.
But the real intentions of this company started to emerge with this sentence: “We offer the opportunity to invest a minimum of €100,000 in bonds with us. Once you invest, we will carefully allocate your assets into well-known funds, which you can conveniently track online”.
Through their platform, traders can showcase their skills, track records, and trading strategies, attracting potential funders who can provide the required capital.
The available assets include forex, gold, put options, call options, and commodities. However, don’t expect to trade while knowing everything. Information about spreads, leverage, or fees is not disclosed. You can’t find anything on the Forex Funders profit split either.
How Does It Work?
Firms like Forex Funders prop firm exist only for one reason; to scam investors. They will call you constantly, sometimes even in the middle of the night, and offer you unreal opportunities to get rich. Their fake stories can sound very believable, which is why investors should never believe stories with a guaranteed profit.
After you agree and leave your details to create an account, they can manipulate the platform to make it seem like you’re earning money when instead, you’re losing it. After you complain, they will disappear without a trace and you will be left with losses.
Payment Options and Process
Depositing your funds with firms like this will be easy. You will start believing that their intentions are good considering how the customer support will be helpful and all your needs will be taken care of. In this instance, the minimum deposit is not disclosed nor is the broker they’re partnered with.
That is because there is no broker and Forex Funders is the one taking care of your funds. Now after you request a withdrawal, that is where the hassle begins. They will delay the process for weeks or even months, or worse, they may disappear without a trace.
You can forget all about the Forex Funders funded account because there isn’t one. The firm’s name is just a facade and the true intentions of this company are much worse. Never deposit your funds with companies like this one.
Weighing the Pros and Cons
Can I Make Money While Trading Online?
In conclusion, Forex Funders has earned its spot on our blacklist of companies you should avoid. They operate without a license, and even the FCA warned investors about it. Stay away from them. If you want to become a successful trader, maybe it’s best to reach out immediately.
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What is Forex Funders?
Forex Funders is an unregulated prop firm associated with fraudulent practices, warned against by FCA, and lacking in regulatory oversight.
Is Forex Funders a Legit Prop Firm?
No, because of its lack of regulation, warnings from financial authorities, and dubious methods that raise possible dangers for investors, Forex Funders is not regarded as a reputable prop firm.
What is Proprietary Trading?
In proprietary trading, a company or an individual trades stocks, securities, or other financial instruments to make money for themselves by utilizing their capital rather than that of their clients.