Overview of Forexindex Ltd Review:
In this fast-paced world, everyone is finding one way or the other to earn more money. Investing in a trade by entering the financial market is said to be one of the best ways to earn a passive income. However, as lovely as the financial market sounds, it is equally risky. One wrong step and you might be trapped in a scam. To combat this issue of scams, we bring to you the scam reviews. We publish a detailed review of the scam brokers we have received complaints about. These reviews contain some of the problematic aspects that the broker poses. Read on to know about Forexindex Ltd in this Forexindex Ltd Review.
Who are they?
Based in the Marshall Islands, Forexindex Ltd claims to be the best in the financial market with their round the year offers and irresistible bonuses. Even though this brokerage firm has listed some of the important information on its website, it still has many problematic aspects to it. Forexindex Ltd offers service in a variety of tradable instruments such as forex, commodities, indices, cryptocurrencies, stocks, etc. The brokerage firm also claims to have customers from every part of the world. We request our readers not to blindly trust all of the boasting that these brokers do on their website as it is solely done to attract more people into it. Especially in the case of scam brokers, these brokerage firms write all kinds of lies like being the best in the market or regulated by all of the regulations when in reality they are not even anywhere near these lies.
Is Forexindex Ltd regulated?
For a broker to operate in the market, they should have a license approved by the regulation of the jurisdiction they operate in. This license is vital as it gives the regulation power over the brokerage firm. This in turn shuts down the chance of the brokerage firm to attempt a scam. In our case, Forexindex Ltd is not regulated by any of the regulations. This means that Forexindex Ltd is UNREGULATED.
Is Forexindex Ltd blacklisted by any regulation/s?
Yes, Forexindex Ltd has been issued a warning by one of the famous regulations supervising the market that is the financial authority of Spain. The National Securities Market Commission, abbreviated to CNMV reported in their statement that Forexindex Ltd is unauthorized and reportedly scamming people of their money. They also request the citizens of Spain to be very careful while dealing with Forexindex Ltd.
Does Forexindex Ltd offer demo accounts?
We are not sure if Forexindex Ltd offers any kinds of demo accounts to their supposedly valuable customers. The website does not have any information regarding a demo account being provided to the customers.
What is the leverage offered by Forexindex Ltd?
Leaving the normal amount of leverage offered by legitimate brokerage firms way behind, Forexindex Ltd offers their customers leverage up to 1:400. This is extremely problematic and poses a red flag against the Forexindex Ltd scam.
What is the final take?
After taking into consideration all that has been stated above, we can safely conclude that Forexindex Ltd is a potential scam. We warn our readers from trading with this unauthorized firm. If you have been scammed by Forexindex Ltd, be sure to file a complaint with us and get the best help possible.