FXGroup100: forex broker review, feedback
Unique review of the company FXGroup100
There are scammers who do not stop at one deception, but unfold multiple scam projects. These fraudsters seek to improve their reputation momentarily and get rid of negative comments. One of such scammers is discussed in our fresh review. Introducing to you FXGroup100. This fraudulent project fxgroup100.com was created by a group of skillful scammers, under the protection of whom act other pseudo-brokers, such as Larson&Holz, Trade100FM, LiteForex, and others. These companies have rightfully earned a place on our blacklist.
Information about the company FXGroup100
The official website fxgroup100.com states that the forex broker is managed by AAA Global Ltd. This legal entity is mentioned in the documents of many other companies. The organization is registered in the Marshall Islands (document number: 103194). It is worth noting that this jurisdiction is not trustworthy due to the presence of numerous vulnerabilities for violators. Scammers often register in the Marshall Islands to avoid conflicts with law enforcement agencies.
Visitors of fxgroup100.com encounter a promotional slogan: “We are experts with extensive experience.” However, there is no confirmation of the company’s long presence in the market! Checking the domain name showed that the FXGroup100 website was registered on April 10, 2020. This site is visited by no more than 50 people daily.
We did not find real customer reviews online, but there are plenty of fakes. Due to the standard wording and publication dates, it becomes clear that many reviews are paid for. Comments from “satisfied customers” appeared long before FX Group 100 started its operations. It is obvious that such reviews should not be trusted.
Contact information to reach representatives of the company FXGroup100 is very limited. The following was determined:
- Headquarters address of the pseudo-broker: Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960,
- Email: support@fxgroup100.com.
Visiting the office at the address Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960, seems unlikely, and scammers may simply ignore letters from outraged traders. According to trader reviews, this is a common practice among scammers. As for phone numbers, the company FXGroup100 simply does not provide them. Apparently, scammers use various SIM cards for calls to cover their tracks and avoid exposure.
Registration process on the website fxgroup100.com
To start trading on the FXGroup100 website, registration is required. The simple procedure involves filling out the provided form, which requires the following personal information:
- First and last name,
- Email address,
- Country of residence,
- Phone number,
- Promotional code,
- Preferred language of communication.
The trader must also confirm that they are at least 18 years old and agree to the registration terms. However, there is no mention of the company’s legal documents anywhere. By registering on the FXGroup100 website, the client agrees to the company’s default rules.
User agreement from the fake forex broker FXGroup100
The legal documents of the forex broker are drafted in a way that allows scammers to avoid responsibility in any situation. The main goal is novice traders who are not well-versed in trading and choosing a brokerage company. Reviews indicate that cooperation with fxgroup100.com brings nothing good. The pseudo-intermediary will simply nullify your profit and not allow you to withdraw even the invested funds.
Trader deception occurs at all stages:
- Point 2 – the company may terminate the provision of services at its discretion, allowing it to close access to the client’s personal account at any time,
- Point 3.12 – on fxgroup100.com, prices are set by the company itself, ignoring quotes from other services. This indicates manipulation of quotes,
- Point 9.3 – the organization reserves the right to deduct exchange fees and taxes from the client’s deposit account without their consent,
- Point 13.3 – to receive a bonus, you need to trade an amount equal to 1/4 of the received funds. Otherwise, the company reserves the right to cancel the bonus amount,
- Point 14 – the company controls requests for fund withdrawals and reviews them within 30 days. This allows scammers to delay the fund withdrawal process and ultimately deprive the trader of their money.
Trading conditions on fxgroup100.com
Given the lack of objective reviews of cooperation with the forex broker FXGroup100, one can only rely on information from the official website. It claims that users are offered a unique trading platform with access to all trading instruments.
Due to the absence of transparent reviews on trading with FX Group 100, it is difficult to assess how profitable cooperation can be. There is no information on real accounts on the site. The only confirmation is the ability to start with a demo account and undergo training. Our analysis showed that the training is limited to a forex glossary, and there is no additional trading information. This knowledge is likely insufficient to start trading and risk with your budget.
There is also insufficient information about capital deposit and withdrawal methods. The website mentions the ability to deposit funds via Visa and Mastercard bank cards, as well as “many other deposit and withdrawal methods,” but details are available upon request only. According to trader reviews, scammers gather contact information of potential victims for further fraudulent actions in this way. It is not advisable to contact the FX Group 100 support service out of curiosity, as it can lead to future problems.
Reviews of deceived clients about the fake forex broker FX Group 100
FX Group 100 is the creation of professional scammers. They actively fill thematic forums with fake reviews:
Unfortunately, we did not find reliable reviews. There is no need to wait for their publication at the moment. It is obvious that interaction with the pseudo-broker is unsafe. We will monitor the situation and update the review as soon as real reviews appear!
Received reviews:
We have already received the first request for help in less than a day.
Scheme of fraud on fxgroup100.com
Although we did not find negative reviews about the company FX Group 100 in our review, the project has features of a “kitchen.” This company is no different from others using the same methods to deceive users. The main goal is to attract newcomers who are easier to deceive, offering comprehensive support and assistance in trading.
Oftentimes, newcomers do not check legal documents; they trust empty promises. This plays into the hands of scammers. They subtly manipulate the potential victim, convincing them to try their hand at a demo account. FX Group 100 can arrange a performance and play fake trading, simulating the trading process.
Then the trader is asked to deposit money into the account. The funds disappear, and the loss of the deposit is explained by the instability of the financial market. This cycle continues until the trader decides to withdraw the money. Then they will start demanding payment of fake taxes and fees. Even if the trader meets all the requirements of FX Group 100, they will not be able to end up in profit! The money has already gone offshore, and retrieving it is practically impossible.
Other articles that may interest you:
- Best forex trading strategies,
- Traders: who they are and what they do,
- List of Forex Brokers licensed by the Central Bank of the Russian Federation.
Conclusion of the review of the company FXGroup100
FXGroup100 presents itself as an international forex broker with rich experience, but in reality, it is just a fraudulent scheme. They do not have a license and are “registered” in a dubious offshore zone. How did fxgroup100.com emerge? The answer is simple — they copied an old scam project, changing the name. We are confident that in some time, the internet will be flooded with reviews about this company. However, at the moment, there is very little information about it online. Scammers use this situation to deceive as many users as possible. Do not become their victim, be cautious, and choose your broker carefully!
I had a positive experience with FXGroup100 as a forex broker. Their platform was easy to use and their customer service was very helpful whenever I had any questions or issues. I found their trading fees to be competitive and overall I was satisfied with the service they provided. I would recommend FXGroup100 to other traders looking for a reliable broker.