FM trader scam as an unlicensed binary broker stands exposed. Thanks to the dozens of reviews put out by its traders. With its users losing big money every now and then, the broker and its operations grew suspicious for the onlookers.
Financial Fund Recovery puts a qualified team at work to research and represent the facts about fraudulent brokers. As an investigative and scam recovery authority, we give it our best shot to eliminate all the inefficiencies brought by investment scams.
IN THIS ARTICLE
What is FM Trader?
FM Trader backs traders as a private investment firm. It offers binary options trading services. An interchangeable name for it is FM Financial, known globally. It laid its first stone in 2013. The investment firm sits at its headquarter located in Belize.
Let’s Find Out Whether FM Trader Is A Scam Broker
The official website of FM Trader holds little to no information about its affairs. However, It urges our competent team at Financial Fund Recovery to carry out its share of analysis to figure whether FM trader scam or not.
It isn’t shocking that the broker works with an unregulated business. The offshore firm is not acceptable as a legal firm, as it has no license from any financial regulatory entity. It runs its unlicensed trading business in Australia.
The firm sends emails or makes unsolicited calls with financial advice, giving details on investment, loans, or credit. It’s how they get most of their targets. Ultimately, FM trader neither holds a current Australian Financial Services (AFS) license nor an Australian Credit license from ASIC.
Furthermore, we’ve learned that the Financial Conduct Authority has already put FM trader on their blacklist. The reason is pretty apparent, the broker ran a big scam and played with so many lives. Hence, we suggest to traders that it’s safer not to associate with them.
Is It Safe To Invest With FM Trader?
With FM Trader, investors have to worry about the infringement of their rights and the safety of their funds. A cumbersome problem in trading with an unregulated broker such as FM Trader is that your funds aren’t in good hands.
Investors fall for such investment firms merely because they conceal all the essential details. A majority of them put up false fronts to show a misrepresented picture. Yet, it’s believable with how alluring and convincing they sound.
There are several negative feedbacks against it, which raises multiple red flags. Moreover, it violates the regulations and is not reliable at all. Consequently, your money is never secure with FM Trader.
How Online Trading Scams Work
With digital scams wiping away the online user’s wealth, it becomes essential we grasp how they work. It’ll not only make you conscious of their ill-intent and operations but also assist in ruling out such scams.
Builds A Delusion
Every scheme starts with a compelling story. They always have exclusive rewards or offers. It’ll make users stop and think twice before passing on the opportunity.
While their deals appear too appealing, they keep pressing onto the online users to make rapid decisions. In addition, they often use excuses such as limited-time offers. Stunts like these prevent the traders or consumers from reasoning before they make their decision.
Tries To Imitate Other Legitimate Sites or Businesses
If you see a website identical to another well-known site, you’re likely to fall for it. But, the worst part is that some end up misunderstanding it for the renowned provider. So, we suggest you research a firm before making any hasty moves.
Sneaks Away From The Legal Governance
A broad category of brokers or businesses aren’t regulated, but they falsely declare associations with famous names and authorities. Then some entities gain a license by either furnishing wrong documents or otherwise.
On A Hideout With Your Money
Once you give in, your money will be out of your eyesight. It means they capture your capital, try to get you to invest more, and eventually escape with your funds.
Signs of a scam
Now that we’ve gone through how online scams work, you are one step closer. Additionally, we’ve formulated a list of signs that’ll help you spot a scam.
- The broker or other operator serves an unlicensed and unregulated business.
- The firm breaks the regulations.
- The regulatory authority has issued warnings against them or has banned the firm.
- They promote their business vigorously across all social media platforms.
- It bombards its website and other reviewing platforms with positive reviews. It depicts that the customer can enjoy all luxuries with the help of their services.
- Your account is deleted, suspended, or blocked.
- Once you deposit with them, they stop answering your calls.
- You have been dealing with trouble while withdrawing your funds.
- They propose unreasonable conditions such as withdrawal eligibility after an upgrade.
- The broker pressurizes the traders into decision-making.
- The website shuts down after your funding.
- It makes fraudulent claims and ensures enormous returns.
- They persuade you to invest more and more.
What To Do If You Have Lost Money In FM Trader Scam?
If you’ve been unfortunate enough to fall for an FM Trader scam, you can report it to the authorities. Further, Financial Fund Recovery can help investigate, consult, and furnish recovery solutions for victims to get their money back.
Our recovery procedure follows all the lawful procedures that are necessary in resolving cases for the scam victims. Therefore, we’re confident that someday in the future, our traders will invest without any fear of safety with our organized plan of action.
Get in touch with our specialists via a free consultation and get your money back at the earliest. Regardless of whether it’s a Europefx scam, Big option scam, or any other investment scam, we’ve got your back!