ForexIn Review: The Shrewdest of Operators on the Market
ForexIn covers its true identity in such a way that even many experienced brokers could fall for its scam. This scammer is a clone of a legitimate broker and if you do not pay close attention, you could find yourself giving money to a fraudster.
We created this ForexIn review to prevent that and inform you about this broker’s true identity.
|Broker name||Reliable Broker Must Have|
|Legal name:||LIRI FINANCIAL LIMITED (allegedly)||Transparently displayed in the disclaimer or legal documents|
|Regulation:||Unregulated||Within your legal jurisdiction – local regulator|
|Registered in:||New Zealand (allegedly)||Your country or the country whose license applies in your legal jurisdiction|
|Established:||2013||The older the domain – the higher the possibility the company is trustworthy|
|Website:||https://forexin.asia/||Domain should be from local or international zones, no .xyz, etc.|
|Financial Authorities Warnings:||No||None|
|Contacts:||Email: [email protected]||Phone, email, social media, web form|
|Is withdrawal possible:||Highly unlikely||Yes|
|Fees:||35 USD/per transaction for international transfers plus Bank’s commission||Transparent fees – list of spread and commissions|
|If Active on Social Media:||No||Often present on social media|
|Investor Protection:||No||Compensation fund|
When you start verifying the information on this broker’s website, you will see everything checks out. They are owned by LIRI FINANCIAL LIMITED, located in New Zealand, and have a legit license. So what’s the catch?
ForexIn you can find on forexin.asia is a clone website of a legitimate broker whose details you checked. Some factors like the info on the website can give you a reason to suspect this is a clone, but we will get to that later.
For now, you should avoid this scammer at all costs. We do not know its true identity as they are anonymous and pretending to be a different broker. We remind you that a rule of thumb in Forex is to not trade with anonymous brokers and we urge you to follow that maxim with ForexIn as well.
You can see you are dealing with a scammer as soon as you look at ForexIn’s trading environment. The TF Trader and MT4 platforms are okay, especially the latter.
However, we do not know what accounts traders can open at ForexIn. You would agree that this is vital information for any trader and that no legitimate broker would leave it out.
Additionally, ForexIn does not prominently display the leverage clients can expect. You have to go to the FAQ section to find this out and you won’t be happy with what you see either. A 1:1000 leverage is extremely high, which exposes traders to significant risk, so much so that even some veterans do not like it.
There is a demo account and the minimum deposit for a live one is only $10. You do not have a lot to trade with that money, however. ForexIn only provides currency pair trading, which is far below the industry standard.
|Trading platforms:||TF Trader, MetaTrader 4|
|Financial Instruments On Offer:||Currency pairs (EUR/USD, USD/JPY, GBP/USD, USD/CHF, etc.)|
|Education or Extra tools:||No|
Is This Broker Safe?
No, ForexIn is not safe. They are a clone of a legitimate site and use that legitimacy to lure unsuspecting traders and steal from them. Brokers like ForexIn are extremely dangerous because at first sight it all checks out and it is difficult to see through its mask.
However, ForexIn is nothing more than an anonymous broker and we know better than to do business with those. Instead, we only go to reliable brokers with legitimate licenses and you can join us. Reach out today, and we will tell you all about starting your trading journey in the best way!
Trader Reviews – Sharing Experiences
Since we know nothing about the real entity behind ForexIn, it is no surprise we did not find any trader reviews online. But we do not doubt had there been any, they would not differ much from those about Еxpochains or Aiko Markets. We only hope traders managed to steer clear of this scammer and not had the chance to get their money stolen.
How Does the ForexIn Platform Reach Clients and Who Are They?
At this point, we can only guess where ForexIn operates the most and who it targets. Since scammers chose to impersonate a broker from New Zealand it would be reasonable to assume they scam traders from this area, but this is only an assumption.
Either way, avoid any contact with them and if they message you, do not respond!
Deposits and Withdrawal Methods
ForexIn also does not do well when it comes to deposits and withdrawals. This scammer only accepts:
- Wire transfers
- Local bank transfers
- Credit cards
This is subpar compared to others that accept other e-wallets and crypto payments. The fees are also outrageous, charging you 35 USD/per transaction for international transfers plus Bank’s commission. Again, no legitimate broker would charge this much and you can be sure ForexIn is not a trustworthy broker.
Reasons To Avoid This Company
Nothing about the company gives us confidence they would not steal our money, so there are absolutely no reasons why you should engage with them. They are anonymous impersonators whom you cannot trace and that should be a good enough reason to choose a better broker.
Our Safe Trading Experts’ Opinion of ForexIn
In this ForexIn Review, we saw how far scammers will go to facilitate their scams. ForexIn is a fraudulent broker that will only take your money and leave you penniless, so do not approach them. Instead, find a broker with a license you can trust and slowly build your trading career with them. And if you do not know where to find them, we are here! Send us an email, and we will help you every step of the way completely free.
Is ForexIn Legit Or Scam?
ForexIn is 100% a scam. It is a clone of a legitimate website/broker, hiding behind that perceived legitimacy to steal your money.
How do I get into Forex trading?
Firstly, you should become knowledgeable about the market. Learn what you can trade, how trading works, and how to do it safely. After that, you should find a reliable broker to partner with, and this is where we come in. Contact us, and we will provide you with a free consultation where we work together to find you the perfect broker for your needs.
How can you help me find a good broker?
The most important service we do for you is personalizing our recommendations. When you come to us, we consider everything – your needs, skill, budget, etc. and then form a list of what we think are the best brokers for you. And the best thing of all is that our consultations are completely free.