Future FX should be a representation of all your trading dreams coming true. Describing itself as a futuristic way of trading with the most advanced tools, this broker is yet anything but regulated. That apparently doesn’t stop them from claiming to be a prestigious UK broker and a premium financial services provider.
Too bad all these claims are nothing but thin air. The truth about this unscrupulous company is hidden deep down, under all those layers of false promises and empty words. Our Future FX review reveals all the darkest secrets that this faux broker thinks they could hide!
To understand the confusion enveloping Future FX, we should first clarify the apparent difference between Future FX and FutureFX. These two distinctive entities have nothing in common. Our review is on the fraudulent, potentially offshore broker – Future FX.
This completely unregulated company claims to be located in one of the most heavily regulated countries in the world – the United Kingdom. To even think of providing financial services to the UK traders, brokers have to get a permit from the strict FCA (Financial Conduct Authority). Regulatory standards enforced by this harsh authority mostly refer to the security measures the companies have to provide in order to ensure safe trading and money transfers. At that, it appears that FCA has no record of FutureFX.
Clients’ funds are only considered to be safe if they’re deposited in segregated bank accounts that the firm has no access to. After that, implementing other risk-reducing measures is absolutely mandatory. Negative balance insurance, along with leverage limit to 1:30, is the most important one of all. Compensation funds and the Financial Ombudsman ensure protection and refunds in case of dispute.
If we compare these conditions with what Future FX offers, the discrepancies are evident. The security standards aren’t implemented, the transparency is unknown to Future FX and the trading risk is pushed to the maximum. With the leverage set at 1:500 most, this broker strategically pushes clients into risky trades.
FutureFX has the most various methods of attracting new victims and then smartly leading them into the scam scheme. Novice traders that are not entirely well informed or familiar with such risks could consider the FutureFX offer alluring. Especially when the scam agents present it in such a way that it makes it sound like a deal you can never reject.
Increased leverage and bigger chance of success masks the potential loss, which grows proportionally bigger how the exposure increases. Big returns, guaranteed success and the safest of trades surely could seriously make you consider putting your money into it.
Scam agents will make you believe just about anything they want. You may wonder how that’s possible, but keep in mind they have exactly the skill necessary to convince you of the truthfulness of their shallow promises. Sometimes, they even use the most banal of methods like inspiring romantic interest and playing with your feelings.
After you have spent your life-savings investing into lies and artificial trading, your agent or account manager, or the love of your life they play will act as if you don’t exist. Simply because you are no longer of use.
Despite how abundant these mishaps are, there are always new victims. We’re here for any of you who need professional help to get rid of a persistent boiler room agent or in case you want to retrieve your stolen funds. Chat us up and you will learn some useful methods or simply get a chance to share your experience with someone who understands.
Most of the victims come from these countries:
As surprising as it may seem, do not immediately consider it to be an advantage. The fact that Future FX provides trading on the world’s renowned software like MT5 doesn’t make them any less of a scammer. Fraudulent websites often seemingly equip you with the most advanced trading tools. However, that is not the case in reality.
Although the software is labeled as Future FX MT5, you can download it only for the desktop machine. No phone apps or webtrader are available. However, you will quickly realize no real trading is happening with swindlers. This con doesn’t have an independent trading server set up.
The choice of trading instruments at Future FX isn’t all that rich or impressive in any sense. While regulated brokers are able to offer you thousands of different instruments, Future FX can’t rival such offers. Additionally, trading here is especially risky due to higher trading risks. On top of that are the seemingly low trading costs, which are probably fake. By this we especially refer to the spreads starting at 0.1.
Available asset groups for buying and selling are these:
The website or the broker isn’t all that instructive or informative on what the packages exactly include. Available trading accounts choice isn’t that rich, either. There are only two live trading account types that trades can choose from. However, what benefits they include or what their price is isn’t something Future FX will explicitly inform you about.
Here are the basic specifications of the two account types offered:
Trading during a trial period in a risk-free environment is not available with Future FX. The trading account for test-trading usually available on MT5 Demo has a virtual margin available for placing test-trades and it usually amounts to $100 000. This liar and pretender doesn’t have that equipped.
Demo trading is precious, especially for beginner traders that are still learning. During this period, traders should be able to place trades on their favorite instruments and see what the trading environment as a whole functions. But be wary. Even if such an option was available with scammers, the trades you conduct there will be profitable for the reason of convincing you to go live.
We couldn’t resist mentioning what absurdly high leverage Future FX offers to retail traders. Without well-developed risk-controlling techniques, casual traders could easily lose when the leverage goes as high as 1:500. Such exposure is not recommended except if you’re a professional. Even the best trained investors can easily lose. Imagine what risk not enough educated traders go through!
As for the spreads, we’ve made a mention of this trading parameter in the account types. The recommended package supposedly offers spreads starting at 2 pips and no trading fees or commissions. If Future FX wasn’t a rotten scammer, we’d perhaps believe that.
Future FX hasn’t uploaded a single legal doc of an array of mandatory texts. This includes the Bonuses Policy. Promotions, gifts and rewards occasionally given to investors have a purpose of encouraging them to invest. And although, sometimes the broker dealer may not explicitly promote it, most of the fraudsters give some kinds of bonuses. Not only do these serve for ensnaring victims, they also come with malicious clauses to prevent their targets from getting out of the scheme. We can expect the same from this sham.
Future FX Withdrawals should be, in theory, handled through the most common financial channels today, like Bank Cards for instance. Until you upload multiple proofs of identity and residential address, however, you can’t really see which payout methods are available for real. What further hindered our attempts to review withdrawal conditions is that the Terms & Conditions document is nowhere to be found on the website.
We are aware that many people online complain about the poor withdrawals policy of Future FX. It’s, unfortunately, a story all too familiar. Your best option when it comes to withdrawing funds from these fraudulent sites is seeking legal advice and aid.
All the proof we’ve presented in our review speaks against Future FX. Not a single fact about this company could be motivational for you to invest in their fraudulent project. The best advice we’d give you is to stay away. But we also understand if their attractive offer has pushed you into loss of funds. If that has happened, make sure to contact us as soon as possible so we can help you issue a chargeback, contact the right authorities and take all the other necessary steps.
Every minute we waste makes the scammer less reachable. So make haste and send us the detailed description of your problem and case. One of our legal experts will reply to you as soon as possible and your funds will be restored in a record time.
Future FX is a fraudulent entity that focuses on stealing customers’ deposits and getting away without legal prosecution. Under no circumstances should you open an account there. If you have, reach out to us for the quickest fund recovery.
The broker does not state what are the requirements pertaining to live account opening.
This is yet another detail that Future FX is not transparent about, but we anticipate the possibility of the fraud offering these, because it’s a way for them to entrap customers.
Future FX is a fraudulent entity that focuses on stealing customers’ deposits and getting away without legal prosecution. Under no circumstances should you open an account there. If you have, reach out to us for the quickest fund recovery.
The broker does not state what are the requirements pertaining to live account opening.
This is yet another detail that Future FX is not transparent about, but we anticipate the possibility of the fraud offering these, because it’s a way for them to entrap customers.
The post Future FX Review – Not The Financial Future You Were Aiming For appeared first on Global Fraud Protection.
