ExcelMarketTrade, the website makes it clear that we are dealing with yet another shady brokerage that is not to be trusted. The elegant and stylish look of a classic business WordPress theme is how most of these scam sites look nowadays.
The professional-looking site is further adorned with many fraudulent claims and enticing offers. For example, ExcelMarketTrade claims to be featured on The Guardian, Bloomberg, Reuters, and other prominent portals, but it is only mentioned in other investment scam reviews.
Furthermore, getting any real information about this fraudulent project has proven to be an almost impossible task. Searching through various internet databases yield no results as no companies under the name ExcelMarketTrade seem to be registered anywhere in the US.
They also claim to have headquarters at Seagram Building, 600 Lexington Ave 13th Floor, New York, but once again, no such company can be found there.
Their website waves a number of red flags such as the claim that they have more than one million clients worldwide and supportive quotes by people who obviously don’t exist, but let’s get down to brass tacks and discuss and see whether these scam brokers can even trade anything.
|Address||Excelmarkettrade LTDSeagram Building, 600 Lexinton Ave 13th Floor,New York, NY 10022, United States|
ExcelMarketTrade Funds Safety and Regulation
First of all, the ExcelMarketTrade scam would be a huge name in the world of finance if even 10% of their claims were true, but the only thing this illicit broker can offer to anybody is more lies. The bogus broker claims to be regulated by the FCA which is a blatant lie.
The FCA of the UK was one of the first regulatory bodies to ban some of the trading options offered by these scam brokers. Safety of funds with ExcelMarketTrade is simply put an oxymoron, like cold fire, it doesn’t exist.
Complaints against the broker are plentiful, and if you want to keep your money safe, simply do not invest with dishonest scam brokers such as ExcelMarketTrade.
The Trading Platform They Used on Their Website
Like any other illicit broker, ExcelMarketTrade claims to give its clients the very best trading tools such as Metatrader 5. In reality, we are confronted with a terrible amalgamation of bogus trading options all of which are senseless lies carelessly designed to relieve ExcelMarketTrade’s victims of their money.
There is no crypto mining, copy trading, or mutual trading with this manipulative trading software. When it comes to the ExcelMarketTrade scam and their supposed software, the only things that are real are the unsuspecting victims and their withdrawal complaints.
ExcelMarketTrade Deposit and Withdrawal Process
ExcelMarketTrade claims to have a low minimum deposit but there is no information about how low exactly are we talking about here. However, opening a “classic” account will require you to throw away 1000$, which would be funny were it not sad.
The company claims that the minimum amount of money you can withdraw is 500$ but there is of course no withdrawal process, and there never is any withdrawal with these illegal brokers. The only withdrawal you can get here is a withdrawal issue, and this is the exact point where most people realize that they’ve thrown their money away.
How this Brokerage Executed the Scam?
Most of these scams are executed in pretty much the same way and it’s actually pretty simple. First off, the scammer will post some fake advertising in an attempt to steal their potential victims’ attention or alternatively they will try to contact you from the get-go.
Whether you believed the ads or you accidentally left your information somewhere, the drill is the same, you will most likely be contacted by some silver-tongued would be sales representative or account manager. In either case, victims get the world promised to them if they invest only once.
These cyber scams generally function in a similar manner and employ the services of several people who are in charge of calling, messaging, and trying to contact people in whatever way in order to get them to “invest”.
After the victims finally give in to the fraud, the website stops working, no one replies to their e-mails and the phone numbers go out of order, so there is virtually no one to go after.
A List of the Top Forex Brokers
If you are still determined to start investing, you’d do well to check out some of the names below. Here we have compiled a short list of renowned and most importantly regulated brokers who you can trust.
As you can see from our table, many of these brokers have different minimum deposits so check out their websites to see what exactly do they offer and which offer best suits your needs.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||10$||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||100$||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus, SVG||4.7||100$||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||5$||Xm.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya, SVG||4.3||5$||Hfm.Com|
|FBS Broker||Cyprus, Australia, Belize||4.85||1.2$||Fbs.Com|
We hope that this ExcelMarketTrade review helped you see these scam brokers for what they are, which is a clear investment scam.
Scams can happen to anyone so don’t feel ashamed if you or someone you know fell victim to these fraudsters, getting your money is possible, but it is more than likely that you will have to reach out for some help.
It is more than likely that what we are dealing with here is a sophisticated offshore-based scam which means that your local authorities are probably powerless to help you.
If you have any negative experience with this or any other fraudulent broker, we would be grateful if you could share it with us.
FAQs About ExcelMarketTrade Broker
How Do I Register with ExcelMarketTrade?
Registering with ExcelMarketTrade was not possible when we were doing research for this article since the registration area of the site was defunct. The FAQ section of their site points you to an e-mail address and a chatbot.
Where will I Receive the Interest in My Active Deposits?
Unfortunately, we could not find the exact answer to this question, since the FAQ section is almost completely incomprehensible.
How Do I Earn Through ExcelMarketTrade?
As we have pointed out in this article, ExcelMarketTrade is a scam, you cannot really earn money with this illicit broker.