FWT Markets Review: Fwtmarkets.com Cruel Forex Scam

FWT Markets (Fwtmarkets.com) is another brutal Forex scam broker openly stealing from members. FWTMarkets is simply going to rip you off immediately you sign up and make deposits. Most members are already complaining over lack of proper communication channels. As fate would have it, newbie traders are being targeted by this shoddy broker. After receiving numerous email complaints, we had to investigate. Read this detailed FWT MARKETS review for more.

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FWT Markets Review

In order to understand the magnitude of this scam, you need to know the amount members are losing. Adriano has lost over 15,000 Euros after being scammed by this platform. Why are newbies being targeted? Professional scam artists know for a fact newbies are soft targets. By creating a visually compelling website, enticing newbies becomes easy. Stay away from this broker and get to know all their scam tactics. What do you need to know about FWT Markets?

Claims and promises have been used all over to compel investors to sign up. Scam artists know we all want to make an extra buck or two. And this is why scam artists profess to offer over the moon claims. By doing this, they make users believe they have a way to offer financial freedom. FWT Markets is no different as they are cloning a broker website to offer fake brokerage services. Make sure to read this entire review and find out more regarding this insane broker.

About FWT Markets

Not much is known regarding this broker making us question their legitimacy. Who are the founding members of this platform? Why can’t we get the actual names of people running this website? Anonymity is a dangerous partner and all investors should be warned. FWT Markets is completely anonymous.

Disclaimer at the footer of their homepage claims this broker is located in Pretoria. Is it true? After checking with registrar of companies, this platform did not appear on any registrar. As we expected, we are dealing with an offshore broker. Offshore brokers are notorious for breaking set regulations and rules. No one should sign up with a broker who fails to have proper registration. Is FWT Markets really located in Pretoria? Scam artists will do or say anything to make their products appear legit.

Is FWT Markets Licensed or Registered?

How can a broker based offshore have proper licensing details? FWT Markets is not licensed or registered and their website proves it. Why have they failed to disclose any details regarding their license? Why deal with an unlicensed broker? Stay away from any unlicensed entity as they are usually fraud related platforms.

Why have they failed to post any copies of their licensing details? International bodies we contacted include ASIC, CySEC, FCA, and NFA. All of these regulatory bodies have never licensed this broker. Their website lacks any details to help declare their licensing. It seems FWT Markets is hiding their licensing status. Stay away from this and any other broker not internationally recognized by regulatory bodies.

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Disadvantages of FWT Markets

Trading Platform

Sadly, we are dealing with a broker who is using an unreliable platform. After checking how their platform works, we deducted it had some major flaws. Lack of proper security measures is one disadvantage of this brokerage firm. Stay away from their MT4 platform as it is highly unstable. Stay away from such platforms as they are easy targets for hackers. Hackers will steal your personal details by attacking this platform. Stay away from this platform for good.

What we noticed odd with their platform is inability to be compatible with most devices. Download stalled at around 45% which means they can’t work well on mobile devices. Make sure to stay away from this broker and use platforms which are secure. Dealing with such brokers is highly irregular and uncalled for. Make sure to stay away of this broker and use industry acceptable platforms. Make sure you check how a platform works before signing up.

Account Funding

What we noticed with this broker is shocking especially in regards to account funding. Depositing funds with this broker is fast and quick. It’s what these scam artists want. They want to have funds in their pockets as soon as possible. Why would anyone be dealing with such a lousy broker? Stay away from this broker as their depository channels include Maestro, Neteller, Skrill, and Visa. Make sure to use platforms which are credible and trusted by Forex brokers.

Withdrawing funds with this broker is what has been ailing most members. None of them has been able to withdraw funds using this brokerage firm. Dealing with such cases has been ongoing with this platform.  What should be done is allow investigators to shut down this platform.

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Are funds safe with FWT Markets?

As we earlier said, signing up with an illicit broker leads to more misery than good. How can funds be safe from a broker who lacks SSL Encryption? Notice how their website lacks basic protection software? Where do they bank money funds deposited by members? Is it possible members are depositing funds straight to owner’s personal bank account? And there’s more damning evidence regarding safety of funds.

Another perturbing issue with this broker is in regards to segregation of accounts. As it turns out, this broker is merging funds in one account. FWT Markets is pooling assets in one account which is extremely dangerous. Make sure to stay away from this broker and sign up with industry backed brokers. Did you know FWT Markets is not insuring funds as stipulated by the law? No one should sign up with brokers who don’t participate in a compensatory scheme. Stay away from FWT Markets.

Is FWT Markets a Scam?

After checking all evidence we have, it’s clear we are dealing with a certified scam broker. Stay away from FWT Markets as they are a proven scam outfit.

Bottom Line

Adding this broker to our scam blacklist will aid in protecting our readers. Make sure to stay away from this broker and sign up with industry backed platforms.

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Wishing you a safe trading experience at all times.