Needful Markets Review: Needfulmarkets.com Forex Scam

Needful Markets (Needfulmarkets.com) is claiming to offer Cryptocurrency and Forex trading. NeedfulMarkets is professing to share knowledge, opportunities, and passion to anyone who signs up. With such a compelling sales pitch, a number of traders signed up without a second thought. And this is why everyone should do a thorough investigation before signing up with online trading platforms. Most members are unhappy with the platform as withdrawing funds is a problem. Read this genuine NEEDFUL MARKETS Review for more details.

About Needful Markets

Not much is said in regards to their trading background or history. From what we gather, the platform is claiming to be based in the UK. Other claims include offering professional educational assistance through their UK based company. A closer look at the company register in the UK reveals no such platform exists. And this is why we must point to the platform as being anonymous. It is best to stay safe using credible and dependable brokers at all times. With top rated brokers, your safety is guaranteed.

The company does not mention any of the founding or staff members. No one knows their trading history which is also a huge shame. A legit broker will let traders in on their history and professionalism. These scam brokers are far from being legit. Needful Markets is failing in its task of transparency. Without the location or proof of address, the platform remains to be anonymous. And this is why it is best to stay away from the broker as they have a disgusting online reputation.

Asset Index

With victims coming out, Needful Markets is claiming to offer Cryptocurrency and Forex trading. One of the first red flags we spotted with the platform is lack of proper information regarding instruments. Cryptocurrency assets include Bitcoin, Dash, Etherium, Litecoin, among others. Forex instruments are not mentioned on the homepage which is a shame. Once members open an account, they are promised of having attractive features. Note that the broker fails to mention the leverage and spreads available with each instrument.

Business Owner

Anonymity is a tool best used by scam brokers which the platform is using. Needful Markets is an anonymous broker as they fail to mention their actual owners. With anonymous online trading platforms, a lot leave to be desired. These scam brokers will sell their brokerage firm to anyone willing to buy. At the end of the day, the platform is a fraud and no one is safe with them. The company register in the UK has no listed broker or company. And this is proof the business owners don’t want to be recognized.

Domain Details

According to the trusted domain register whois.net, their website was recently created. The details clearly show the website needfulmarkets.com was created on 16^th July 2019. It makes the platform barely a year old. Claims of offering over six years of trading services are quickly thrown away. The broker is a clear fraud who is trying to get as many investors to sign up. With such a broker, the end results are worrisome. None of the members can testify to making any profit with this broker.

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License and Registration of Needful Markets

Needful Markets is NOT LICENSED OR REGISTERED by any regulatory body. The platform claims to be located in the UK and yet, authorities don’t have the broker licensed. A look at the Financial Conduct Authority register shows no such platform exists. If the broker is located in the UK, they must get approval from the FCA. Without the FCA’s consent, the platform is clearly a fraud. And this is why we must stay away from the platform.

Other regulatory bodies in the market plan to issue a warning over the platform. Most regulatory institutions in Europe plan to issue an alert. These include BaFIN, CONSOB, CySEC, and FINMA. Complaints have reached their help desk concerning the misguided trading features with the broker. Once a warning is issued, anyone who deposits funds should expect no trading services. These are most likely offshore brokers who have no other way of targeting European investors. Their final play is to use a UK address to fake location details.

Limitations of Needful Markets

Account Details

Needful Markets is furnishing traders with seven different account plans to choose from. These accounts are listed as Basic Bronze, Silver, Gold, Platinum, VIP Basic, VIP, and VIP Premium. What we noticed odd with the account plans is lack of accurate details. The accounts did not show any worthy features. Some accounts come with a welcome bonus which is another well-laid trap.

Account Managers

In the case if Needful Markets, they claim to have professional analysts who help with trading. The platform does not mention the names of these analysts which raises suspicion. From experience, we know scam brokers will try and make members give up account control. They claim the account managers will handle trading and make profit on your behalf. With a broker whose staff members are anonymous, it is best to stay away. These are rogue brokers who have nothing else to do than steal from unsuspecting investors.

Contact and Customer Support

A closer look at their contact page reveals there is no live chat support. What these scam brokers have done is post random numbers and their email support. The problem with emails is that it gives the scam broker a reason not to reply.  And this is another reason why everyone should steer clear of anonymous platforms. The phone numbers listed are VOLP and do not necessarily mean the holders are based in the UK.

Depositing Funds

Needful Markets is using Credit/Debit cards for depositing or account funding. Wire transfer is also available which most members fall for. The broker will email new members a bank account to which they will deposit funds. Needful Markets is promising investors the money will appear on their accounts once deposits are made. And this is where the problems lie as they never get any funds reflecting on their accounts. The broker goes home happy with funds deposited on their personal bank account.

Funds Withdrawal

Withdrawing funds with Needful Markets is another horrific experience no trader should go through. The scam broker gives lame excuses via email as to why the withdrawals are taking long. And this is another valid reason to stay away from this platform. These are scam brokers who have nothing else to do than steal from unsuspecting European investors.

Trading Platform

Another bizarre feature with the platform is lack of clear trading terminal details. NeedfulMarkets is in fact using a custom made trading platform. The problem with Custom made trading platforms is they take longer to execute trades. With this trading terminal, trades placed take longer than usual. Security is also an issue with Needful Markets as the terminals don’t have proper security software. Hackers will easily take over the platform and steal credit card information.

Safety of funds with Needful Markets

When it comes to the security of funds, NeedfulMarkets is not guaranteeing it. Members have lost tons of money with the platform. With the high number of account types, it is alarming that the platform does not segregate accounts. The platform is pooling funds in one account which is against trading regulations. It is best to steer clear of such a platform.

Scam or Legit Needful Markets

With the evidence clear as day, Needful Markets is a scam. Stay away from their trading terminal and don’t fall for their promotional materials. These are scam brokers who have no other way to earn money but to steal from unsuspecting investors. Warn your family and friends from joining any of their affiliate programs.

Bottom Line

We have to add this platform to our scam blacklist and ensure our readers stay away.

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