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FxMarket247 Review - is it scam or safe?

FxMarket247 Review - is fxmarket247.com scam or good binary options broker?

RATING: 1 / 1 REVIEWS FxMarket247
FxMarket247 is not regulated. We cannot guarantee your money is safe.

Basic Information & Account Types

 

Account type Minimum deposit  Payout  Money return %
Basic  $300 Up to 82% 2-10%
Advance  $2 500 Up to 82% 10-30%
Diamond  $50 000  Up to 82% 30-70%

 

FxMarket247 claims to offer trading in cryptocurrencies, one of the hottest assets on financial markets. In fact, the broker provides mining services and binary options trading, but its offer is very unclear. Overall, we would not reccomend this broker. Read on to understand why.

 

 

FxMarket247 Advantages

 

Not any significant.

 

 

FxMarket247 Disadvantages

 

Questionable corporate information, not regulated

FxMarket247 is allegedly owned and operated by NEWSTAR L.P., a company that claims to be headquartered in Glasgow, Scotland, UK. It also seems to operate Hashing24 a cloud mining contract provider, which, judging by the numerous negative user reviews and complaints in some popular Bitcoin forums, is a scam.

 

That being said, NEWSTAR L.P. is registered in the UK, but not regulated by any financial authority. As you probably know, ESMA has prohibited binary options trading (as of July 2, 2018), and keeps extending the ban. As a result, there have remained no reliable regulators in the binary options industry. Previously, most regulated binary options brokers were holding licenses from the Cyprus Securities and Exchange Commission (CySEC). Furthermore, the UK’s Financial Conduct Authority has even proposed permanent ban on binary options in the country, in order to enhance consumer protection.

 

The fact that FxMarket247 lacks any regulatory oversight is very alarming. The forex and binary options market is full of scammers and most of them are either unregulated, or “licensed” by some offshore agency.

 

Trading conditions not disclosed

The only trading specifics announced on FxMarket247’s website are the minimum investment the broker requires and some percentages of the returns it promises. The company has not specified the payouts, nor the minimum bet size, which is yet another worrisome sign, typical for con-artists.

 

That being said, remember that there is no such thing as guaranteed investment returns in the world of trading.

 

Trading platform with no charting, a few financial products offered

We tested FxMarket247’s web-trading interface and found out that the broker’s portfolio is limited to Gold, Silver, EUR, USD, BTC, Apple in various pairings. One cannot trade in forex pairs other than the EUR/USD, nor popular instruments such as CFDs on indices, commodities, other stocks, etc. On top of that, the platform itself is actually one of the worst we have seen – it lacks any analytical tools, and has no charting whatsoever. Here is a preview:

 

 

FxMarket247’s web-trading interface. Click to zoom in.

 

In case you are into cryptocurrencies like Bitcoin, below you may find some well-regulated brokers that offer BTC trading in the form of CFDs. Some of them have also included other cryptocurrencies to their offering.

 

 

>> Trade Bitcoin with a licensed forex broker <<

 

 

Extra fees

According to the broker’s terms and conditions, clients of FxMarket247 are subjected to maintenance and service fees, the amounts of which are not specified.

 

 

Conclusion

 

As you can see from the stated above, FxMarket247 has nothing that tempting to offer. Its website is not very informative, nor well designed, and it turned out that the broker offers some mining services and binary options trading on several assets. Yet, the trading interface is one of the worst we have seen – it even doesn’t have any charting whatsoever.

 

Nonetheless, the most serious concern regarding FxMarket247 is that it is not regulated, and could be involved in scam. In order to avoid becoming a victim of investment fraud, make sure you only deal with brokers duly licensed by a reputable governmental agency, which provides certain guarantees for your investment. One of the most popular such institutions are UK’s FCA and Australia’s ASIC.

 

 

>> Looking for a FCA-regulated broker? <<

 

 

To sum up our impression of FxMarket247 in a few final words:

 

Pros Cons
Not any significant advantages Questionable corporate information, not regulated
  Trading conditions not disclosed
  Trading platform with no charting, a few financial products offered
  Extra fees

 

Latest news about FxMarket247
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Traders` reviews for FxMarket247

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Scam with Fxmarket Miner Comac

I from Australia on 17/12 /18,I meet a Taiwanese Facebook friend she to referral me in invest double earnings bitcoin program invest during 72 hours,I will get double my invest,Sherry say she did third time Withdrawal and I believe her and follow my first withdrawal after 72 hours I get $200 together my invest bitcoin,and I continue to second invest for $500 ,is over 72 hours the broker name Comac is delay my withdrawal he forces me to referral my friend to invest or otherwise I have to pay him $200!,to get my profit $1000,then I decided to pay on my friend behalf to do invest $100, Comac promised I will get my profit after 10 hours unfortunately over 24 hours he send a company website FXmarket247 .com give me login details ,tell me I can login my self to withdrawal my own,username tzeinvestment sad password 201812 ,to show my profit balance $7000,I know that is can’t true that is fake account they can’t allow me to withdraw they ask me to pay $1000 for signal software fee and failure to pay all my money will Lose,I already make sense Comac is a Scammer they keep cheating me more money , Before invest Comac didn’t say he work at this company I only know that I send $500 to mining 72 hours I get double my bitcoin,Now he refused to get back my money.Please help me how to get Report this scammer he keep to scam more people money

Prisc 12/28/2018
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