Reviews of Traders about Concept Markets in 2023
Concept Markets is a company that, according to their claims, enjoys the trust of traders from around the world. However, user opinions on the Internet are not so positive. After conducting an extensive investigation, we are ready to share the results with you.
Main Facts about Concept Markets
Concept Markets presents impressive numbers. According to the data on their website, the company has:
- 685,000 users,
- 6 liquid suppliers,
- 37 thousand daily orders,
- A capitalization of $300 million.
Despite this, information about the company’s work experience is missing, which raises questions. Based on the available information, Concept Markets is a relatively young organization. The registration of the website conceptmarkets.pro was done at the end of March 2023.
Users face difficulties not only in complying with trading and financial rules but also in getting support from the company. Contacting them is only possible via email, but during the investigation, it was revealed that even this contact address is fake, leaving traders unable to seek help.
Internal documents of Concept Markets turned out to be unreliable. Traders have only obligations but no rights. The broker does not take responsibility for potential losses of clients and hides the true owners of the company, which is unacceptable.
Legal Transparency
Concept Markets claims to operate within the law, but their platform does not display any registration certificates or licenses. User reviews suggest that the company is allegedly registered in the UK, but additional checks revealed the absence of such a company in the Companies House and FCA registries. This means that Concept Markets provides its services without any guarantees for clients.
User reviews indicate money loss due to lack of attention and trust. When clients sought help from regulatory bodies, it was found that they had fallen victim to a fraudulent broker, and they could not receive any support.
Trading Opportunities
Concept Markets praises its trading platform. According to the company, it is a powerful terminal without slippage and requotes. The absence of a demo account forces traders to risk their own funds with a minimum deposit of $250. Some features of the platform include:
- 10 tariff plans with entry thresholds from $250 to $10 million,
- Minimum position volume of 0.01 lot,
- Leverage up to 1:200,
- Assistant services,
- Access to CFDs on stocks, currency pairs, indices, and commodities,
- Use of indicators and EAs,
- Multiple payment methods.
User reviews indicate that the broker does not provide withdrawal options, using various reasons to block requests, ranging from technical issues to verification processes.
User Reviews
Concept Markets has been around for less than a year but has already gained a reputation as a fraudulent broker. User reviews confirm that this company should not be trusted. It aims to deprive gullible users of their funds.
Features of the Fraudulent Scheme
Concept Markets does not provide legal documents and simulates the trading process using a manipulated terminal to drain users’ funds. Spread extensions and other manipulations lead to fund losses. The company unilaterally terminates cooperation and blocks accounts, denying users the chance to get their funds back.
Conclusion
A thorough check of Concept Markets shows that this company is not trustworthy. They are typical scammers seeking to deceive users and deprive them of their funds. Do not expect to earn from this platform. It is best to stay away from such companies like Concept Markets.
I am deeply disappointed with my experience with Concept Markets in 2023. The broker is hard to reach, I found their service to be inefficient and their responses vague and delayed. There was a lack of transparency with their fee structure which caused me to incur unexpected charges. Meanwhile, the professionalism promised was absent, as I encountered numerous technical glitches and their customer service was terribly poor. Furthermore, their platform was not user-friendly and complicated to manage. I definitely do not recommend Concept Markets; their service is far from satisfactory.
My experience with Concept Markets in 2023 was nothing short of disappointing. The customer service was truly appalling, with my queries often left unanswered for days and a lack of professionalism when communication eventually happened. Moreover, I consistently experienced hidden costs and charges that were not clearly stated in the initial agreement, causing me significant financial surprise. The platform, for trading, was complicated and not user-friendly at all, often resulting in confusion and mistakes in transactions. Overall, I would not recommend Concept Markets as a reliable or trustworthy brokerage. Their lack of transparency, poor customer service, and convoluted trading platform are significant areas of concern that have negatively impacted my trading experience.