Reviews of MarketsSoft online: detailed review of the forex broker’s activities and its features.
Reviews of MarketsSoft on the Internet: a review of the activities of a forex broker
MarketsSoft is an offshore Forex broker registered in Saint Vincent and the Grenadines. It provides a web trading platform, not the MetaTrader 4 trading platform. The leverage is not disclosed.
The required minimum deposit is on average $250 USD, and the spread is inflated to 6.5 points on EUR/USD.
From open sources, we learned that the broker’s brand is owned and operated by an SVG company. Saint Vincent and the Grenadines is a well-known offshore jurisdiction.
Broker’s pitfalls
As reported by the boexpert source, the Austrian FMA issued an official warning about the activities of the brokerage company MarketsSoft. They claim that the scam project is more targeted towards inexperienced traders.
The sad conclusion is that without proper regulation and regulatory warnings, the risk of potential clients losing their investments increases significantly.
Unpromising trading conditions
We found a spread rate of 6.5, which is an unreasonably high level. This is one of the most unfavorable trading conditions.
While risk is noble, it is better not to open a real account here. This could lead to security issues, as outlined above.
How the scam scheme works
Despite the vastness of the Forex market, the most common fraudulent activities are quite simple and understandable. The scammer’s action plan is as follows:
- When a trader clicks on an advertisement with promises of easy money, they are redirected to a website (DaxRobot or CryptoContracts).
- Next comes registration, where you will be required to provide your address, email address, and phone number. Once you share your confidential information, managers will start pressuring you to invest in their company.
- If their psychological influence methods work, you will unknowingly give away $200-250. By the way, a hefty commission is also charged for this initial deposit.
Company reviews
How many times do investors go bankrupt just because they were careless in choosing a broker? Reviews on thematic forums show that this is not uncommon. People believe in attractive advertising and a well-thought-out success story, while mentally distancing themselves from negativity.
To avoid losing all your money and becoming the author of negative comments on financial resources, it’s better to immediately see what others are writing.