Forzex Trade: Who Are They?
Describing themselves as an international broker providing easy access to financial markets, Forzex Trade emphasizes the diversity of products, prompt consultations by specialists, quality analytical services, and good liquidity. However, it is worth noting that these promises mainly attract beginners. Professionals, on the other hand, point out a series of negative reviews where former clients complain about Forzex Trade. Before blacklisting this company, let’s analyze the key facts about it.
Forzex Trade: What Do We Know?
Unlike renowned brokerage companies with a long history and positive reviews, Forzex Trade pursues an unclear policy and does not disclose any details about its activities and successes in financial markets. Checking the whois data reveals that the forzex.trade website was launched in 2021, even though there was no information about this firm online just six months ago. Apparently, the project started operating from October 2022.
Communication with Forzex Trade is only possible through a fake phone number and email, making seeking support futile. The only available means of contact is a feedback form, which, however, only makes sense for honest companies, which, as we have already established, does not apply to Forzex Trade.
Verification of Legal Information
Forzex Trade claims to be registered in the UK and holding a license. However, among the licensees of the British regulator FCA, which oversees the activities of financial institutions in the country, Forzex Trade does not appear. Instead, scammers present a fake copy of a license from the Financial Services Regulation Scheme, leading to deceit of investors.
The Central Bank of the Russian Federation has already warned of the danger of dealing with Forzex Trade, which was blacklisted by the regulator as early as the beginning of 2022. Reviews about the company confirm the negative experiences of clients who did not heed the warnings and regretted it later.
Terms of Cooperation
Forzex Trade offers approximately 1,000 trading instruments, organizing a void around a demo account. Minimum losses on the platform can amount to $250 and above. The company provides 6 types of accounts with different conditions, including an initial deposit ranging from $250 to $100,000 and leverage of up to 1:1200, which does not comply with the standards of the British regulator. The stop-out level is 25%, but specific details about commission expenses and payouts are hidden, indicating their intention not to pay traders.
Review of Reviews
Considering the multitude of negative reviews about Forzex Trade, the company is accused of fraud, financial extortion, and negligent customer service. By reading for yourself, you can learn about the public opinion on Forzex Trade.
Money Extortion Schemes in Forzex Trade
The generous bonus policy of Forzex Trade is not accidental but is designed for financial extortion. Traders must meet complex bonus turnover conditions, leading to additional financial losses. The platform also encourages the use of margin trading with leverage up to 1:1200, posing a high risk for traders.
Independent Review Results
Forzex Trade continues to deceive its clients by evading negative reviews through domain changes or rebranding. Be cautious when choosing a financial partner to avoid dealing with scammers, which can lead to serious financial losses.
