RatingFX: independent rating of Forex brokers
"Real" Real Forex
Before starting to trade on the forex market, investors should choose a reliable broker. This is a very important step as brokerage companies with high work standards will ensure a fast deposit to the trading account as well as quick withdrawals. Therefore, investors are sure to make a big profit cooperating with such brokers. However, trading conditions and a license to provide brokerage services are also important factors to consider while picking a broker. Traders need to be sure that they trust their funds to a reliable and professional intermediary between them and the financial market.
Nowadays, the Internet is flooded with luring offers of bogus brokers that promise their clients easy money in a short period of time. How to discern such scammers? First things first, it is necessary to study the feedback of customers. Undoubtedly, deceived customers will leave as many comments as possible about the negative experiences when working with some brokerage firms. In our article, we will try to unveil the dishonest activities of one of the swindle companies. We will analyze the traders' comments and give our own verdict.
This time we will have a closer look at Real Forex. Founded in 2008, the broker is headquartered in London, the UK.
To start with, the company is not regulated. The representatives of Real Forex claim that their activity is regulated by the International Financial Services Commission (IFSC) and the Financial Conduct Authority (FCA). However, if you dig deeper, it turns out that the company belongs to Finocorp Ltd. On the Internet, we were able to find out that Finocorp Ltd. is registered somewhere in Belize and is not subject to the aforementioned regulators. What does this mean? Mainly the fact that Real Forex does not guarantee the safety of clients' funds. The information about the so-called regulator is an outright lie, which once again confirmed the illegal activities of the broker.
What tricks does the broker use to attract its customers? First of all, the company offers various educational applications, gives access to e-books about trading strategies. It has a convenient and informative website. The company also provides a wide choice of account types for its customers. Investors can choose from two types of platforms, mobile apps, and various analytical tools. The company's website is available only in English. Notably, currently, the website operates in a limited mode having turned into a regular one-page website.
As you might expect, the company's main website contains a disclaimer of any liability. You cannot find the terms of the agreement.
The fact is that the website completely lacks information about Real Forex management. It does not provide any contact information. It is more than enough to stay away from this broker. There are only two phone numbers and an email address. It seems that the broker uses the following technique to deceive traders. At first, managers actively call the client before he/she makes a deposit. When the victim does so and starts making a profit, his/her deposit has been drained and managers stop answering calls.
The proven way to find out the true colors of a broker is to read comments left by other traders. There are so many negative reviews about Real Forex that there is no doubt that the company has not even tried to hide its sham activities.
I just want you to know that Real Forex is a fraud. Stay away from this firm! Do not even try to trade with it. You won’t be able to withdraw your money. Do you hear me? NEVER!
This broker is a scammer. I cannot withdraw my money and its managers do not answer my calls or e-mails. Please, do not repeat my mistakes
Real Forex has been keeping my money since 2016. I have tried many times to take it back. No one answers my calls or calls me back. They keep saying that I have violated some rules. That is funny. The only thing I did was to trade and make a profit. The broker stole 7,000 from me. I want my money back. Please, help me because I really need this money.
Moreover, as it turns out, the registration procedure is nothing more than an opportunity to get the credit card data from the user. This is confirmed by the comment of the deceived trader:
This is a 100% sham company! When you are trying to register an account, its managers ask for your credit card data and the last four digits. By obtaining them, they can withdraw money from your card. They offer to fill in the questionnaire (questionnaire in English), and finally prompt to enter a pin, which is actually the amount of money in dollars they want to steal. I forgot to tell you that the resignation procedure took place via Skype when the screen was visible. It means that they even saw my credit card balance. After the so-called questionnaire was filled out, I clicked the send button and got an SMS that my money had been stolen. I was outraged! So, I called. They asked me to fill out a form to withdraw money. I did it but they did not return my money. Importantly, you can see in your personal account how they trade using your money. Once they lay their hand on your money, you will never get it back.
Despite the tempting trading conditions, the abundance of training materials, and analytical tools, the broker’s reputation is far from being perfect. Clients risk losing their funds and incurring big losses. They should not even dream of making a profit. It is quite obvious that the vast majority of traders deceived by Real Forex are beginners. Notably, experienced traders will not find it difficult to recognize the true nature of Real Forex.
The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.