Our review will reveal some of the biggest reasons why we DO NOT RECOMMEND working with TRUE FX MARKETS in case you are interested in trading and investing and why we strongly think that it is a scam meant to steal money from you. Here we go!
Who is TRUE FX MARKETS?
TRUE FX MARKETS appears to not be fully regulated and this becomes obvious after taking a look at their official website. This is a huge problem and one that should make any trader run in the opposite direction. It’s also bad for their image because the fact that this is not a regulated broker is certainly very visible at a first glance. It also seems that they collaborate with various sketchy websites that claim to offer trading software meant to help people but instead, such businesses are famous for being scams. You should never fall into that trap if you want to be a successful trader!
Being an unregulated broker means putting your customers at great risk by exposing not only their personal information and bank details but also their money. Dangerous third parties can easily access these details and cause big problems for people.
How do unregulated brokers function?
Unregulated brokers have a basic way of tricking people into getting their money and personal info. Traders will first be persuaded via phone calls or e-mails to make an initial deposit, as indicated by their website. Also, certain deals and offers that seem extraordinary will be offered as a way into making people become their victims. Once the first deposit is made, you will end up in a cycle of scammers that will try to get money out of you by offering even more deals and bizarre advantages.
How can you withdraw your money?
The first thing that any trader should do once they realize that this broker is a scam is to withdraw their funds. Remember that your money is never safe with such brokers and that you might never get it back. The problem is that TRUE FX MARKETS will try to delay your withdrawal process as much as possible so that they can keep your money for longer. Six months is all it takes for them to get it for good and you won’t be able to request a chargeback anymore after this period. Make sure not to sign any document they give you because this could be bad news. Do not offer them written authorization to do whatever they want with your funds, in the form of a signature.
When they refuse to give you your money back, you can request a chargeback from your bank or card provider. Keep all documents and e-mails as proof that you were deceived by an online broker that is unregulated and acts like a scam. Once multiple chargebacks are done, TRUE FX MARKETS will no longer have the opportunity to collaborate with a payment service provider. This will hurt them the most, as a scam company.
In case you have done a wire transfer and they refuse to give your money back, you are in trouble. You cannot request a chargeback from a wire transfer and the only way to deal with this issue would be to go to the authorities in your country. File a complaint and send it to them as proof. You can also contact various regulating agencies in their country and report them as an unregulated broker.
Let people know about your bad experience!
Last but not least, telling people about your bad experience with TRUE FX MARKETS can prove very useful. You can do this by leaving honest reviews regarding your problems with this broker on various professional websites and telling your fellow traders what happened to you. There is also a common strategy that these brokers use once they are revealed as scams. They change the address of their website and get in contact with old clients to convince them to fall victims once more. In case this happens to you too, do not hesitate to report them and let the world know who they are.
Helping people stay away from scam brokers like TRUE FX MARKETS is our duty and we are proud to inform and help you in any way we can. We definitely DO NOT recommend TRUE FX MARKETS as your trusted online trading broker because everything they do is a scam that is meant to steal your money and personal information. Be very careful when picking your broker if you want to be successful and have a safe and secure career. Always choose a regulated and trustworthy broker to work with and your trading endeavors will soon become fruitful.