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Investors Reported 5Markets is A Complete Scam
Abstract：Scam exists in any financial markets and the forex market is no exception. How could investors know fraudulent brokers? Well, you can check on WikiFX.com
A Complete Scam
There are a lot of traders who reported their bad experience in 5Markets. The company cheated them and refused to give their money back.
An Offshore Forex Broker
5Markets claims it is operated by Uncany Services LLC, a company registered in St. Vincent and the Grenadines under the registration number 1499 LLC 2021. We did find a match result to Uncany Services LLC in the St. Vincent and the Grenadines Financial Services Authority (SVG FSA). However, SVG FSA does neither issue licenses for forex trading nor regulate any forex activities. This broker is merely a registered broker in SVG FSA that operates under no regulations.
CNMV Remarks 5Markets as an Unregistered Firm
On 21 March 2022, the Spanish regulator CNMV released a notification that 5Markets has not been authorized to carry out forex investment services and activities in Spain as a lack of authorisation. If clients invest their funds in the firm, they are unlikely to get their money back if things go wrong.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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5 Risks associated with Grand Capital
You can avoid fraud, crypto scams, and similar traps simply by staying informed. If you regularly follow forex news, there’s a lower chance that you’ll fall victim to such scams. Being aware is the only way to stay safe. That’s why you also need to know about the Grand Capital broker and why it should avoided.
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