All Reasons to avoid Foraxi (foraxi.com Review)
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Read our foraxi.com Review to see why we do not
recommend this broker for trading. Just to clear doubts, this is
cmc-markets.pro. reviews. If you have any questions or need advice about
the withdrawal process, feel free to contact
us at Articlecenterreviews@gmail.com.
Who are they?
After taking a look at their website, it shows that they do not fall under
any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you
NOT to invest with them. And they also work with websites that offer “Automated
trading software” which is another red flag, as these kinds of websites are
notoriously famous for scamming schemes.
So foraxi.com is just another unregulated forex broker,
which means the customers are not protected, and it is highly likely they will
get away with your hard-earned money and there will be no regulating agency to
hold them responsible.
In today’s forex market flooded with scam brokers, traders must tread every
online financial trading company carefully. You must be particularly aware of
shady brokerage firms like foraxi.com that are anonymous, do not
hold any trading credentials, and provide poor services based on
deception.
If you have come across the Central Plus Finance- fx broker, you will soon
realize how fraudulent this company is. So, continue with our foraxi.com Review
for more information about this investment scam.
On top of that, we seriously recommend you not invest in the fake
brokers BCH Advance, iToroStocks, and WiseFXPro. Do not
trade with these unlicensed brokers if you want to save your money!
Broker status:Unregulated BrokerRegulated by:Unlicensed Scam
BrokerageBlacklisted as a Scam by:N/AOwned by:N/AHeadquarters
Country:AustraliaFoundation year:2022Supported Platforms:Web TraderMinimum
Deposit:2,500 USDCryptocurrencies:Yes (Bitcoin, Litecoin, Ripple)Types of
Assets:Cryptocurrencies, ForexMaximum Leverage:1:100Free Demo Account:NoAccepts
US clients:No
How does it work?
Usually, unregulated forex brokers work in the following way. They will call
people to persuade them to make the initial minimum deposit while trying any
conceivable method in order to make that happen. They will offer deals that
sound too good to be true like we will double your initial deposit or you will
make $100 per day easily. Please don’t fall for anything they say!!! It is a
SCAM! After making the initial deposit, people get transferred to a smarter
scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP because your funds are never
safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have
profits or not, they will delay the withdrawal process for months. If they
delay it for six months, you won’t be able to file a chargeback anymore and
your money is gone for good. It does not matter how often you remind them or
insist on withdrawing your money, you will NOT get them back. And if you signed
the Managed Account Agreement or MAA, which is basically authorizing them to do
anything they want on your account, they will lose all your funds so there
won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your
money back, which is very likely to happen, don’t worry, it might be a way or
two to get your money back.
First of all, you need to keep the emails as proof that you have been
requesting the money back from them but they don’t give it to you, or they
delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do
this right away! Contact your bank or credit card provider and explain how you
were deceived into depositing for a trading company that is not regulated and
refuses to give your money back. This is the simplest way of getting your money
back and is also the way that hurts them the most. Because if there are many
chargebacks performed, it will destroy their relationship with the payment
service providers. If you haven’t done this before or you are not sure where to
start or how to present your case to your bank or credit card company, we can
assist you in preparing your chargeback case. Contact us at
Articlecenterreviews@gmail.com but do not let your broker know if you have
read this article or are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire.
For this step, you need to raise the fight to a different level. Tell them that
you will go to the authorities and file a complaint against them. That will get
them to rethink the refund possibility. Another thing you can do is prepare a
letter or email for the regulating agencies. Depending on the country where you
live, you can search on google to find the regulating agency for Forex brokers
in that country. After that, you can prepare a letter or an email describing
how you got deceived by them. Make sure you show this letter or email to them
and tell them you will send it to the regulating agency if they don’t refund
your money. If you do not know where to start, reach us at
Articlecenterreviews@gmail.com and we will help you with this step as
well.
Is foraxi.com a Licensed Forex Broker?
Forex trading is a heavily controlled industry by financial regulatory
agencies closely cooperating with governments and ensuring that every broker
complies with relevant legislation.
When a phony broker like Cmc-Markets.prodoesn’t state its headquarters or
any information about the company’s registration, it is hard to determine its
jurisdiction. This is done with the purpose to cover up the fact that it is an
unlicensed and unregulated business.
The only info about Cmc-Markets.proavailable on its website is a telephone
number, which is an Australian phone number according to the dialing code. That
brings us to the assumption that this broker might be based in Australia, which
is one of the most stringent jurisdictions.
If it is the case, it is impossible to be a legitimate broker without being
authorized by the Australian financial authority, ASIC. Not unexpectedly, foraxi.com is
not licensed under this or any other financial market regulatory agency.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Unlike unauthorized brokers, certified companies can be trusted with money
since they adhere to a strict code of conduct – especially forex providers
regulated by top-level supervisory bodies like the Australian ASIC, British
FCA, and German BaFin. For example, ASIC’s eligibility conditions stipulate a
broker maintain a minimum operating capital of 1M AUD and keep its and traders’
money separated (segregation of funds).
Additionally, traders of licensed brokers are protected by indemnification
programs run by supervisory agencies. For example, ASIC covers traders with a
100,000 AUD indemnification in the event of a broker’s bankruptcy. On top of
that, legitimate companies implement a range of risk management measures to
mitigate trading risks, such as offering negative balance protection (a trader
can lose more than deposited), cooperating with first-rate banks, providing
reliable trading platforms, and ensuring propitious trading conditions.
So foraxi.com GLOBAL ICM a Decent Broker or a Scam?
foraxi.com is an anonymous and unregulated broker running online
trading scams and cheating traders from the UK, Canada, Australia, the US, and
Sweden.
What Trading Software Does foraxi.com Offer?
Speaking of the foraxi.com portal, a trading platform available
here, it is a web trader with limited functionality. This unscrupulous
broker claims that its web trader fits the needs of both beginners and
experienced traders. However, we are dubious about that since it has generic
functions that can’t ensure profitable trading.
As far as that is concerned, your best option is the latest trading programs
– MetaTrader 4, MetaTrader 5, cTrader, and Sirix – providing advanced tools
such as expert advisors, stop loss, fast execution, unlimited pending orders,
copy trading, and more.
Make sure you leave reviews about foraxi.com on other sites
Another way to hurt them and save other people from falling victims is to
leave bad reviews on other sites, and describe shortly what happened. If you
have fallen victim please leave a review and a comment on this site in the
comment section. Also, when these people change their website they tend to call
the old clients, so if they call you from a new website please write it down on
the comment or let us know by contacting us. That would be really appreciated
by us and families all over the world. Also if you get phone calls from other
companies please put the name of these companies also in the comment or send it
to us. We will expose them too.
foraxi.com Review Conclusions
Making the foraxi.com Review is actually a pleasure for us,
and we hope to save as many people as possible from losing their hard-earned
money. A good rule of thumb is to carefully review all the Forex companies and
any other company for that matter before you perform any transaction. We hope
that our foraxi.com Review has been helpful to you. If you
have any questions or you need advice about the withdrawing process, feel
free to contact us at Articlecenterreviews@gmail.com.
If you like to trade please do it with a trustworthy, regulated broker, by
choosing one of the brokers listed below.
Read our foraxi.com Review to see why we do not
recommend this broker for trading. Just to clear doubts, this is Central
Plus Financemarkets.com reviews. If you have any questions or need advice
about the withdrawal process, feel free to contact us at Articlecenterreviews@gmail.com.
Who are they?
After taking a look at their website, it shows that they do not fall under
any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you
NOT to invest with them. And they also work with websites that offer “Automated
trading software” which is another red flag, as these kinds of websites are
notoriously famous for scamming schemes.
So foraxi.com is just another unregulated forex broker,
which means the customers are not protected, and it is highly likely they will
get away with your hard-earned money and there will be no regulating agency to
hold them responsible.
In today’s forex market flooded with scam brokers, traders must tread every
online financial trading company carefully. You must be particularly aware of
shady brokerage firms like foraxi.com that are anonymous, do not
hold any trading credentials, and provide poor services based on
deception.
If you have come across the foraxi.com broker, you will soon
realize how fraudulent this company is. So, continue with our foraxi.com Review
for more information about this investment scam.
On top of that, we seriously recommend you not invest in the fake
brokers BCH Advance, iToroStocks, and WiseFXPro. Do not
trade with these unlicensed brokers if you want to save your money!
Broker status:Unregulated BrokerRegulated by:Unlicensed Scam
BrokerageBlacklisted as a Scam by:N/AOwned by:N/AHeadquarters
Country:AustraliaFoundation year:2022Supported Platforms:Web TraderMinimum
Deposit:2,500 USDCryptocurrencies:Yes (Bitcoin, Litecoin, Ripple)Types of
Assets:Cryptocurrencies, ForexMaximum Leverage:1:100Free Demo Account:NoAccepts
US clients:No
How does it work?
Usually, unregulated forex brokers work in the following way. They will call
people to persuade them to make the initial minimum deposit while trying any
conceivable method in order to make that happen. They will offer deals that
sound too good to be true like we will double your initial deposit or you will
make $100 per day easily. Please don’t fall for anything they say!!! It is a
SCAM! After making the initial deposit, people get transferred to a smarter
scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP because your funds are never
safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have
profits or not, they will delay the withdrawal process for months. If they
delay it for six months, you won’t be able to file a chargeback anymore and
your money is gone for good. It does not matter how often you remind them or
insist on withdrawing your money, you will NOT get them back. And if you signed
the Managed Account Agreement or MAA, which is basically authorizing them to do
anything they want on your account, they will lose all your funds so there
won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your
money back, which is very likely to happen, don’t worry, it might be a way or
two to get your money back.
First of all, you need to keep the emails as proof that you have been
requesting the money back from them but they don’t give it to you, or they
delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do
this right away! Contact your bank or credit card provider and explain how you
were deceived into depositing for a trading company that is not regulated and
refuses to give your money back. This is the simplest way of getting your money
back and is also the way that hurts them the most. Because if there are many
chargebacks performed, it will destroy their relationship with the payment
service providers. If you haven’t done this before or you are not sure where to
start or how to present your case to your bank or credit card company, we can
assist you in preparing your chargeback case. Contact us at
Articlecenterreviews@gmail.com. but do not let your broker know if you have
read this article or are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire.
For this step, you need to raise the fight to a different level. Tell them that
you will go to the authorities and file a complaint against them. That will get
them to rethink the refund possibility. Another thing you can do is prepare a
letter or email for the regulating agencies. Depending on the country where you
live, you can search on google to find the regulating agency for Forex brokers
in that country. After that, you can prepare a letter or an email describing
how you got deceived by them. Make sure you show this letter or email to them
and tell them you will send it to the regulating agency if they don’t refund
your money. If you do not know where to start, reach us at
Articlecenterreviews@gmail.com and we will help you with this step as
well.
Is foraxi.com a Licensed Forex Broker?
Forex trading is a heavily controlled industry by financial regulatory
agencies closely cooperating with governments and ensuring that every broker
complies with relevant legislation.
When a phony broker like foraxi.com doesn’t state its
headquarters or any information about the company’s registration, it is hard to
determine its jurisdiction. This is done with the purpose to cover up the fact
that it is an unlicensed and unregulated business.
The only info about foraxi.com available on its website is a
telephone number, which is an Australian phone number according to the dialing
code. That brings us to the assumption that this broker might be based in
Australia, which is one of the most stringent jurisdictions.
If it is the case, it is impossible to be a legitimate broker without being
authorized by the Australian financial authority, ASIC. Not unexpectedly, foraxi.com is
not licensed under this or any other financial market regulatory agency.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Unlike unauthorized brokers, certified companies can be trusted with money
since they adhere to a strict code of conduct – especially forex providers
regulated by top-level supervisory bodies like the Australian ASIC, British
FCA, and German BaFin. For example, ASIC’s eligibility conditions stipulate a
broker maintain a minimum operating capital of 1M AUD and keep its and traders’
money separated (segregation of funds).
Additionally, traders of licensed brokers are protected by indemnification
programs run by supervisory agencies. For example, ASIC covers traders with a
100,000 AUD indemnification in the event of a broker’s bankruptcy. On top of
that, legitimate companies implement a range of risk management measures to
mitigate trading risks, such as offering negative balance protection (a trader
can lose more than deposited), cooperating with first-rate banks, providing
reliable trading platforms, and ensuring propitious trading conditions.
So foraxi.com GLOBAL ICM a Decent Broker or a Scam?
foraxi.com is an anonymous and unregulated broker running online
trading scams and cheating traders from the UK, Canada, Australia, the US, and
Sweden.
What Trading Software Does foraxi.com Offer?
Speaking of the foraxi.com portal, a trading platform available
here, it is a web trader with limited functionality. This unscrupulous
broker claims that its web trader fits the needs of both beginners and
experienced traders. However, we are dubious about that since it has generic
functions that can’t ensure profitable trading.
As far as that is concerned, your best option is the latest trading programs
– MetaTrader 4, MetaTrader 5, cTrader, and Sirix – providing advanced tools
such as expert advisors, stop loss, fast execution, unlimited pending orders,
copy trading, and more.
Make sure you leave reviews about foraxi.com on other sites
Another way to hurt them and save other people from falling victims is to
leave bad reviews on other sites, and describe shortly what happened. If you
have fallen victim please leave a review and a comment on this site in the
comment section. Also, when these people change their website they tend to call
the old clients, so if they call you from a new website please write it down on
the comment or let us know by contacting us. That would be really appreciated
by us and families all over the world. Also if you get phone calls from other
companies please put the name of these companies also in the comment or send it
to us. We will expose them too.
foraxi.com Review Conclusions
Making the foraxi.com Review is actually a pleasure for us,
and we hope to save as many people as possible from losing their hard-earned
money. A good rule of thumb is to carefully review all the Forex companies and
any other company for that matter before you perform any transaction. We hope
that our foraxi.com Review has been helpful to you. If you
have any questions or you need advice about the withdrawing process, feel
free to contact us at Articlecenterreviews@gmail.com.
If you like to trade please do it with a trustworthy, regulated broker, by
choosing one of the brokers listed below.