Investors Alert 75markets.com – Regarding falsely claiming association with registered Australian businesses or financial services licensees and their authorized representatives.
Online trading can be a lucrative and exciting way to invest your money, but it also comes with risks. One of the biggest risks is falling victim to scam brokers who use deceptive and illegal tactics to lure unsuspecting traders. In this blog post, we will expose one such scam broker, 75markets, and show you how they falsely claim association with registered Australian businesses or financial services licensees and their authorized representatives.
Products and Services:
75markets claims to offer a variety of trading products and services, such as forex, commodities, indices, stocks, cryptocurrencies, and CFDs. They also claim to provide advanced trading platforms, educational resources, market analysis, and professional customer support. However, these claims are all lies designed to attract traders and make them deposit money into their accounts.
Financial institution & regulatory license:
75markets pretends to be a legitimate and regulated financial institution by using the names, logos, and registration numbers of real Australian businesses or financial services licensees and their authorized representatives. For example, they claim to be operated by 75 Markets Pty Ltd, which is a registered business name of Global Prime Pty Ltd (ACN 146 086 017), an Australian Financial Services Licensee (AFSL 385620). They also claim to be authorized by ASIC (Australian Securities and Investments Commission), the regulator of financial markets in Australia. However, these claims are all false and unauthorized. Neither Global Prime nor ASIC have any connection or affiliation with 75markets.
Trader’s Reviews and Customer Service:
75markets has received numerous negative reviews and complaints from traders who have been scammed by them. Many traders report that they have been unable to withdraw their funds, that their accounts have been manipulated or closed without explanation, that they have been pressured to deposit more money or accept bonuses with hidden terms and conditions, that they have been harassed by phone calls or emails from aggressive sales agents, and that they have been ignored or blocked by customer service when they tried to seek help or file a dispute. These are all common signs of a scam broker.
How do online trading scams operate:
Online trading scams operate by using various techniques to deceive and defraud traders. Some of the most common techniques are:
– Creating fake websites that look professional and trustworthy
– Using fake or stolen identities and credentials of real businesses or regulators
– Offering unrealistic or exaggerated returns or guarantees
– Providing fake or manipulated trading platforms or signals
– Charging hidden fees or commissions
– Imposing unfair or restrictive withdrawal policies or conditions
– Using high-pressure sales tactics or emotional manipulation
– Threatening or intimidating traders who want to leave or complain
How to Safeguard Against Fraudulent Brokers:
To safeguard against fraudulent brokers, you should always do your own research before choosing a broker. Some of the steps you can take are:
– Check the broker’s website for any red flags, such as spelling errors, broken links, missing information, or suspicious claims
– Verify the broker’s identity and registration details with the relevant authorities, such as ASIC in Australia
– Read the broker’s terms and conditions carefully and look for any clauses that may limit your rights or expose you to risks
– Avoid brokers that offer bonuses or incentives that require you to trade a certain volume or deposit a certain amount
– Test the broker’s trading platform and customer service with a small amount of money or a demo account
– Read online reviews and feedback from other traders who have used the broker
– Report any suspicious or fraudulent activity to the authorities and seek legal advice if necessary
75markets is a scam broker that you should avoid at all costs. They are not associated with any registered Australian businesses or financial services licensees and their authorized representatives. They are not regulated by ASIC or any other reputable regulator. They use deceptive and illegal tactics to lure and scam traders. Do not trust them with your money or personal information. If you have been scammed by them, contact ASIC immediately and seek legal help.