Investors have been asking: Is Updatedfxtrade.com legit or scam?
Updatedfxtrade.com is an unregulated offshore broker that makes clients demand our recovery service. Here is Updatedfxtrade.com scam review.
The scam broker may operate in many countries without the regulation required by the reputable regulation authority in its country like FSMA, FCA, CySec, ASIC and so on. But regulation is definitely not the only reason for calling this broker a scam.
Many complaints and negative Updatedfxtrade.com reviews and other possible scam features are other reasons being mentioned.
Your funds may not be safe if you are trading with this broker.
About Updatedfxtrade.com Scam Broker
Updatedfxtrade.com is a scam investment platform that claims to offer the earning of passive income. But, the truth is, Updatedfxtrade.com is one of the potential tricks. If you do not want to lose your investment, it is better to keep your money away from this broker.
Updatedfxtrade.com also operates in the crypto niche. The broker doesn’t even share any information about its staff on its website. What makes the broker more suspicious is that they share free stock pictures as staff members on its website which we are already working on to be taken down. These things show how fake and untrustworthy the broker is and how unsafe your investments are.
On the other hand, Updatedfxtrade.com can’t get their modes of operations straight. In an attempt to look authorized, they arranged an FINCEN certificate for an MSB registration.
Generally, offshore scammers usually get this certificate using the wrong information.
Here are some of the possible reasons why we have flagged this broker as a scam broker in this Updatedfxtrade.com review:
- The broker may have made a number of false claims through its website.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding investors.
- The broker makes continuous calls to the traders and urge them to invest higher and higher amounts.
- The broker promises return which are too good to be true.
- The risk warnings may not be disclosed on their webpage or that would be hidden.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are haven for the scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals and ultimately you are not able to make withdrawal.
- Broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes name and website URL without any notice to existing traders.
Despite what any Updatedfxtrade.com review has told you, Updatedfxtrade.com is a suspected scam. We don’t recommend investing with them.
If you are already investing with Updatedfxtrade.com, we recommend you immediately cease depositing any amount of funds with them, in particular if they are asking for a fee to withdraw your money. DO NOT PAY IT.
Updatedfxtrade.com Scam Reviews and Complaints
Updatedfxtrade.com has gotten many negative reviews and traders who traded with this broker have raised many complaints against it.
MintonBlock has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers warnings.
SmartContractsAtMintonBlock does not recommend investors to trade with this broker and your funds may not be safe with this broker.
Updatedfxtrade.com review is negative. Instead look for regulated and reputable brokers who can really help in growing your investments.
When searching for brokers to conduct your trading activities with, the first and most important step should always be to learn about their certification(s). This will tell you whether they are regulated by a central authority or if Updatedfxtrade.com is an offshore and/or unregulated entity.
When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised. In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction.
Some examples of regulatory authorities that issue brokerage licenses are:
- Financial Services and Markets Authority (FSMA)
- The Cyprus Securities and Exchange Commission (CySEC)
- The Financial Conduct Authority (FCA)
- The Australian Securities and Investments Commission (ASIC)
If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.
If you have lost money with Updatedfxtrade.com, don’t panic. You are not the first and you likely won’t be the last. Mistakes can happen even with the most cautious of investors, and should be used as a learning opportunity.
The good news is that there is help available.
Please if you or anyone you know are a European or non European resident and was swindled by Updatedfxtrade.com, make sure you reach out to us immediately to file a complaint and report the fraud.
The smart contracts team at MintonBlock – a specialist group dedicated to helping consumers recover funds lost online – is available 24/7 and has helped consumers all over the world recoup millions of dollars.
A payment chargeback is the retroactive cancellation and refund of a charge made using your credit card, wire transfer or some other payment methods.
By putting together a compelling chargeback strategy from beginning to end, victims of online fraud have a relatively high probability of recovering some or all of their lost funds.
The disputed amount must be at least 10,000 EUR/USD.
SmartContractsAtMintonBlock will help you build a solid case to regain your funds as soon as possible.