Overview of “Fxamo” Activity: Warning about a Fake Forex Broker
In the world of forex brokerage, it is difficult to come across an offer that deserves attention. Among serious and honest companies, there are those who prefer unethical practices, aiming not to earn through commissions, but to profit by deceiving clients. One of such dishonest players, masquerading as a reputable company, is Fxamo. Let’s delve into why it is advisable to steer clear of this broker, based on feedback from former clients who parted with significant sums due to its activities.
Uncovered Facts about Fxamo
The company Fxamo positions itself as a reliable partner in the forex market, promising safety and profitability in operations. However, research shows that it is merely a facade for a typical scammer. Although the website fxamo.com mentions a 12-year experience and millions of satisfied clients worldwide, domain age verification revealed that it was registered only in November 2016, with the latest changes made at the end of 2019. This casts doubt on the claimed extensive experience and impressive client base.
Regarding the legal address, which was not specified on the official website, the company claims its presence in several countries:
- United Kingdom (London), address: 18 20 London Ln, London E8 3PR, contact phone: +44 20 3011 2411;
- Brazil (São Paulo), address: Rua Vergueiro, 1000-Paraíso, São Paulo-SP, 01504000, contact phone: +55 11 3397 4002;
- China (Hong Kong), address: 9 Hoi Ting Rd, Yau Ma Tei, Hong Kong, contact phone: +85 23 7460 123.
Attempts to contact the company using the provided phone numbers were unsuccessful, raising additional doubts about the veracity of the information provided.
Details on Registration at fxamo.com
The registration opportunity on the website is open to all and is not complicated thanks to the multilingual interface, including Russian. The process is standard and involves entering a name, email address, phone number, password, and a promo code if available. However, caution is advised: numerous complaints from former clients indicate that the entered information may be shared with third parties, leading to unwanted contacts from other fraudulent organizations.
Trading Account Features on fxamo.com
Despite promises of access to numerous currency pairs, the reality of working with Fxamo tells a different story. There are three types of accounts:
- Easy Start with a minimum deposit of $500;
- Optimal with a minimum deposit of $1,000;
- Professional, requiring a deposit of $10,000 to open.
Unfavorable conditions and dubious promises make cooperation with this “broker” extremely risky.
Deposit and Withdrawal Methods
Only one option is offered for depositing funds – cryptocurrency, complicating transaction tracking. As for withdrawals, numerous reviews point to the practical impossibility of getting your money back. The company comes up with various excuses to refuse payment, even going as far as blocking accounts.
Conclusion on Fxamo
Research has shown that Fxamo is a typical fraudulent project, similar to many other such “companies.” The company’s promises lack real foundation, there is no license or regulation, and there are no reviews from satisfied clients. In summary, dealing with Fxamo is fraught with the loss of financial resources and personal data.
