FXCloudMarket review – Is FXCloudMarket.com scam or safe?

FXCloudMarket review – Is FXCloudMarket.com scam or safe?

FXCloudMarket.com Key Facts

🔴 FXCloudMarket.com is a shady business falsely claiming to be NFA and CySEC regulated. Red flag!

🔴 FXCloudMarket.com doesn’t disclose important information about themselves. Red flag!

🔴 FXCloudMarket.com is a website registered 6 months ago. Disturbing sign!

🔴 FXCloudMarket.com creates unrealistic expectations by claiming investors can gain 100% in 60 seconds. A scam sign!

FXCloudMarket.com registration, license and regulation

FXCloudMarket.com is supposedly a trading name of Crypto-max, a company we found nothing about. They claim to hold various licenses including NFA, CySEC and Belize one, but it’s not true. FXCloudMarket.com fraudulently claim to be a licensed company, and that’s a major red flag to note. Illegal companies holding no licenses are risky to trade with and should be avoided. Trust only authorised, and regulated companies for these are legit and trustworthy to trade with.

Each broker presented in US have to be an NFA member and registered with CFTC.

The regulations in USA are quite heavy, compared to other domains. The capital adequacy requirement state Forex brokers have to provide minimum 20 million USD in paid-up capital to get a US license. Also clients’ funds should be kept in segregated accounts, making it impossible for brokers to misuse the capital for daily expenses.

The restrictions on Forex trading in USA includes a maximum allowed ratio of 1:50. Clients are also limited by the FIFO rule (first in, first out), meaning traders have to close their positions consequently. Hedging is also disallowed, which some traders might find restricting.

FXCloudMarket.com address and contacts

FXCloudMarket.com doesn’t disclose their headquarter address and the contact numbers, which is a major red flag. Entities striving to remain anonymous and hidden are unreliable and more often than not a pure scam. The legit regulated brokers and investment providers are bound by the law to give their address, contact numbers and the basic corporate information to the public. Beware, FXCloudMarket.com acts suspiciously.

FXCloudMarket.com website information

The domain FXCloudMarket.com was registered on 04.06.2020 by Privacy Protect Ltd with an IP address 31.170.161.15 located in USA. There are 296 websites co-hosted on this IP, which are seemingly not otherwise related to FXCloudMarket.com, so we can’t link this fraudulent website to others based on the domain address. However, FXCloudMarket.com uses privacy protection, so it’s impossible to collect information about the website owner, which is yet another disturbing sign. 

Alexa doesn’t even include FXCloudMarket.com in its ranking, so this website’s popularity is terribly low. At the same time, FXCloudMarket.com claims to have more than 150 000 registered users, which is a fraudulent claim whatsoever. 

Scam warning

We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority. 

However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.

Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.

1 Comment

  1. Grace Africano Salacup

    Brendo Libor ask me to invest money with her,She told me that shes under Fxcloudmarket.com.as trader…She promised me to have my profit…
    She showed me a pic.of the said profit which is in dollar rate..She told me for me able convert in peso my profit ask me to send money again.The total amount of money I sent to Brendo Libor is 8,000.00pesos

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