FinancesMarkets Review: Finances-markets.com Scam

FinancesMarkets (Finances-markets.com) is another rotten CFDs, Crypto Currency and Forex scam platform to hit the trading world. Finances Markets is claiming to be the world’s best Crypto Currency trading platform. And this is where we have a problem with this platform. Use of empty claims and promises is evident in their website. Members are also crying foul after accounts were closed indefinetly. Read this detailed FINANCESMARKETS Review for more information.

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FinancesMarkets Review

As far as we are concerned, this is simply another awful Crypto currency trading scam. Why would the broker close accounts without giving any notice? To add salt to injury, the accounts still have trading balances. Ahmed decided to invest $23,000 worth of Bitcoin and opened an account with this platform. After trading for a few hours, he made profit worth $4,000 and decided to withdraw his initial deposit.

FinancesMarkets is simply refusing to grant withdraw permission to Ahmed and other members. And this is proof we are dealing with a rotten and scandalous online platform. These scam artists have decided to clone a Crypto trading website and steal funds from unsuspecting investors. Ahmed is not the only member who is facing withdrawal issues, there are over 20 members. And this is concrete proof we are dealing with a rotten online Crypto trading platform. 

About FinancesMarkets

Not much is known about this platform apart from claiming to be based in the United Kingdom. You should know that scam artists will do or say anything to make their platforms appear legit. And this exactly what FinancesMarkets is doing with their fake credentials. Once you visit their about us page, you will notice some anomalies. These scam artists fail to give users any information regarding where they are actually based. They even fail to give visitors a phone number as they simply use Google Maps to pin their location.

FinancesMarkets is probably an offshore based platform using UK credentials to lure investors. Scam artists will try and use the UK as their base of operation to entice European investors. Thanks to our years of trading experience, we know how to spot a scam from a mile away. We encourage you read this entire review and find out the tricks used by these scam artists.

Is FinancesMarkets licensed or registered?

Another solid proof that FinancesMarkets is a scam comes in the form of licensing. FinancesMarkets is not licensed by the FCA which is UK’s regulatory body. And this is why no one should trust any details posted on this page. We tried and searched for their licensing credentials on their website and couldn’t find any. It seems these scam artists are operating illegally and the website should be brought down by authorities. Whoever signs up with these scam artists should prepare for the worst.

Why have they failed to post any details regarding their license or registration? A true broker will post copies of their license and registration for all to see. By doing so, they show transparency and give users a chance to verify the details. We checked with the FCA’s register and no results were found. We checked with ASIC, COSNOB, CySEC, and other EU sanctioned bodies.

Features of FinancesMarkets/Advantages

Since FinancesMarkets is not listed as a regulated broker, we could not find any advantage. Aside from this crucial letdown, they also fail to give users vital information regarding this platform. Notice how their website lacks proper information regarding where to sign up and other vital details? It would seem this website was quickly designed to seduce unsuspecting investors. They even lack proper security features on their website. How on earth can investors trust such a platform?

Disadvantages of FinancesMarkets

Account types

Looking at their entire website, there is no information regarding account types offered. When we contacted members of this platform, they claim to have been issued with four account types. Lack of this vital information is proof the broker has something hidden up their sleeves. And this is a red flag we must raise with this platform. Dealing with a broker who gives false information to investors is risking your finances. Stay away from this platform.

Fake testimonials

Once you scroll down their homepage, you can see some testimonials posted on their website. Testimonials can’t be verified by anyone. Notice how they use stock pictures to entice users into believing their stories. None of the testimonials has a name associated to it. And this makes it difficult for anyone to verify these claims. Without names associated with these pictures, we can’t believe anything they sell.

Funding methods

What about the methods used to fund accounts with this platform? Ahmed claimed he was given a bank account where he transferred his funds.  And this is proof investors are depositing funds straight to owner’s bank account. Dealing with such platforms means the owner of the platform can withdraw funds at his own time. And this will leave investors without proof of funding a trading platform.

No Demo Account

Another problem we have with FinancesMarkets is lack of a demo account. A demo account gives investors a chance to test how well the platform works. Without a demo account, users are simply signing up without knowing what to expect. What are the leverage and spreads being offered by this broker? And what about the minimum required deposit to start trading with this platform? Finances Markets is making it clear they won’t give investors a fair chance to try out their platform.

Are funds safe with FinancesMarkets?

How can funds be safe with Finances Markets when they don’t even have SSL encryption? Hackers can easily take advantage of this platform and steal crucial details such as credit card numbers.  And this is proof we are dealing with a rotten scam platform which is simply going to sweep you clean. Segregation of accounts is also a huge problem as this platform is pooling funds in one account.

Is FinancesMarkets a scam?

After checking with the list, we are sure FinancesMarkets is a scam without any doubt. The platform has no phone contact and use emails to talk to members. Those who have been contacted via phone calls get different callers. And this makes it difficult to track down who exactly makes the calls. Bankruptcy can also occur at any time and funds deposited in the personal bank account used to pay creditors.

Bottom line

Adding this broker to our scam blacklist will ensure you know what exactly you are getting into. We also hope to protect our readers from Crypto scam platforms such as Finances Markets.

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Wishing all investors a happy and prosperous trading period.