Introduction to Cheonan International Limited:
When it comes to well-acclaimed brokerage firms, most scam brokers do not even hesitate to put that tag along with their company’s name. While the reality of the situation is much worse, most of the scammers in the financial market pay special attention to building up their image on the sole basis of words. In today’s review, we will be investigating one of the brokers that we received many complaints against – Cheonan International Limited. With a website that is the pictorial representation of chaos, the company does not back down from claiming itself as the best. If you are here intending to know whether Cheonan International Limited is a scam broker or a legitimate one, stay tuned and read till the end to find the answer to this question.
About Cheonan International Limited:
In this section, we will specifically be discussing all the red flags posted by Cheonan International Limited.
Is Cheonan International Limited regulated by any of the regulations?
On their website, Cheonan International Limited claims to be operated under Blackwell Global Investments, and that way Cheonan International Limited is regulated by the FCA. However, upon checking with Blackwell Global Investments, we realized that none of the licenses issued for Blackwell Global Investments mentions Cheonan International Limited. Furthermore, Blackwell Global Investments states that various scam brokers are using their company name to trick the traders. This makes it clear that Cheonan International Limited is UNREGULATED and is purely lying to fool the victims. This brings us one step closer to the Cheonan International Limited scam.
What is the leverage offered by Cheonan International Limited?
The leverage offered by the regulated brokerage firms usually stays below the limit of 1:50 as higher leverages are known to push the trader into losing the trade they are investing in. To make a profit, scam brokers lure the victims in by offering high leverages and earn the profits when the traders lose. Since the brokerage firms get money when a trader loses, all the scam brokers offer high leverage in the greed of getting more money. In our case, Cheonan International Limited offers leverage of 1:400 to their customers. As you can see for yourself, this is a very big amount to be offered as leverage and leads us one step closer to the Cheonan International Limited scam.
What is the minimum initial deposit demanded by Cheonan International Limited?
At this point of the review, what we were confronted with while checking for the minimum deposit demanded by Cheonan International Limited was not much of a surprise. Cheonan International Limited does not reveal the minimum deposit that is demanded from the customers to open an account. This is a major red flag in this Cheonan International Limited review as brokerage firms should never hide important information like this from the public.
Conclusion: Is Cheonan International Limited a scam or legit?
To conclude all that has been said above, we can safely say that Cheonan International Limited is a potential scam. We warn our readers from trading or investing with Cheonan International Limited as it is unregulated.
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