Falcon Group: customer reviews about the company’s performance in 2023.
Dishonest Schemes of Falcon Group
It is assumed that users will not verify the authenticity of the information received and engage in legal disputes. With amateurs, this approach works because they usually naively believe scammers and trust them with their financial resources. However, after their loss, they realize their mistake, start writing negative reviews, unable to recover the lost money. Instead of returning investments, it is necessary to inform other people about the risks and avoid foolish expenses. One of such companies is Falcon Group, a new pseudo-broker seeking to exploit the inexperience and gullibility of beginners.
What to Know about Falcon Group?
On the main page of the official Falcon Group website, you can find the slogan: “Do not wait for perfect conditions, create them together with the best traders in Europe.” Despite the sound of this slogan, reviews about the company are only beginning to form. Based on our experience of reviews, this happens when we deal with a new player, not a respected financial agent.
We checked the registration date of the domain name through whois and found that falcongroup.uk.com has existed for a short time – just over two months. The site was registered on February 9, 2023. It is not surprising why scammers remain silent about their plans, statistics, and the founding date of the company.
From the reviews left, it follows that contacting Falcon Group’s support in case of financial or technical problems is extremely difficult. To avoid unnecessary questions from users, fake phone numbers are indicated on the site. The only real contact is via email, but there is no expectation of a response from the scammers to dissatisfied customers. They simply will not respond to dissatisfied customers.
Despite having internal documents on the platform, upon closer inspection of the conditions, it becomes clear that the company will make every effort to quickly bankrupt customers. Additionally, it is worth mentioning that scammers operate a covert policy. The names of senior management are not indicated on the site, making it difficult to hold them accountable.
Licensed Broker or Not?
Falcon Group has not provided copies of legal documents confirming their legality. However, on the start page in the footer, there is enough information about the registration and regulation of this brokerage company.
In particular, it is stated that FALCON GROUP EUROPE Ltd is registered in the UK (number 06673452). The Companies House register is available to the public, and finding the necessary information was not difficult. It turned out that the company does exist, and it was issued a certificate as far back as 2008.
However, some discrepancies arise:
- During a time when this review did not yet exist (as confirmed by checking the domain history), Falcon Group did not exist,
- The main business activity of the real FALCON GROUP EUROPE Ltd is Non-specialized wholesale trade,
- To provide brokerage services, not only a registration certificate but also a license is required.
According to the project’s information, the broker obtained licenses from:
- Financial Services Authority of Seychelles (SD018),
- Australian Securities and Investments Commission (335692),
- Cyprus Securities and Exchange Commission (362/18).
The check revealed the falsity of the licenses: some licenses turned out to be fake:
Document number 362/18 Cyprus Securities and Exchange Commission was issued not to Falcon Group but to the well-known broker IC Markets (EU) Ltd.
In reviews, deceived traders from Russia, Kazakhstan, and Belarus claim that they turned to the regulators of their countries for help but were unable to resolve the situation. Regulatory authorities are not willing to help combat a fraudulent company. However, the Central Bank of Russia has already added falcongroup.uk.com and trade.falcongroup.uk.com to the blacklist (update as of April 10, 2023), warning of their deceit. According to reviews, this is not given due attention.
Trading Conditions Offered
- Over 200 trading instruments (cryptocurrencies, base Forex currencies, commodities, CFDs on stocks),
- Minimum deposit is $250,
- Leverage ranges from 1:10 to 1:100 (depending on the selected tariff and assets),
- Spreads from 0.01 points,
- Minimum trade volume is 0.05 lots,
- Personal analyst services are provided,
- From 3 to 5 real-time trading sessions,
- Bonuses can be generous (the intermediary does not disclose the conditions for playing back their size),
- For certain types of accounts, invitations to webinars and courses, round-the-clock support in the field of trading signals, receiving confidential information, and personal consultations with an analyst are provided.
There is an opportunity for passive income under the Robot tariff. The minimum deposit is $1,000, and $5,000 is required for setup.
Client Reviews
Currently, the number of reviews from former clients is small, but there are enough to understand – we are dealing with an ordinary scammer:
Features of the Fraudulent Scheme
The peculiarity of Falcon Group is that they do not offer demo accounts for safe training but offer 10 free insights from the best analysts in the world and free education (videos, books, and similar materials). Additionally, the intermediary claims to help make profitable trades. The main goal of scammers is to gain the trader’s trust and gradually extract money from them.
Scammers skillfully imitate trading operations and persuade to use the services of a mentor. For a beginner, such an opportunity seems like a real stroke of luck. But one may not realize that profit will continue only as long as new financial investments come in.
Simply declaring the intention to reclaim your funds will drastically change the situation. All trades will start ending in losses. Scammers may justify this with market downturns, spread increases, and other manipulations. It is practically impossible to recover even the initial deposit from them, as confirmed by customer reviews. Scammers simply suffocate with commissions and unilaterally terminate the contract if their conditions are not met.
Conclusion
Negative reviews about Falcon Group are not written for no reason; it is a fraudulent company that cannot be relied upon. They aim to squeeze out your funds.
I am extremely dissatisfied with the broker services provided by Falcon Group in 2023 as they fell short of my expectations in terms of efficiency, promptness, and careful management of my portfolio.
I’ve had an incredibly stressful experience dealing with Falcon Group. Their customer service is shockingly poor, often taking days, even weeks, to reply to simple queries. When they do get back to you, their responses are usually vague and lack clarity. Dealing with my broker felt like pulling teeth. They were often unavailable, making the process of getting vital information very laborious. Rather than feeling like a valued client, I felt sidelined and ignored. They also failed to anticipate market changes and provided mediocre advice at best. This lackluster approach ultimately cost me valuable opportunities. In this highly competitive industry, Falcon Group simply don’t measure up to their competitors.