If you’ve ever heard of the term “fraudulent online broker,” FlawlessTradeFX fits perfectly into the description. Once we’ve checked their website, we found so much false information, and it was hard to determine where to start to cover it all.
However, here’s our FlawlessTradeFX review.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||BaFin, IFSC, FSC Mauritius, FSC Granada|
|Owned by:||Flawlessfx LTD|
|Headquarters Country:||California, USA|
|Supported Platforms:||Web trader|
|Types of Assets:||FX, commodities, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
FlawlessTradeFX Regulations and Security
We must say, FlawlessTradeFX regulation was one of the hardest things to confirm. First, the broker says to be regulated by the FSC Mauritius, CySEC, FCA, and FSCA, among others. However, under the tab “Regulation,” we found that the company is licensed by UFSA – a non-existent regulatory body allegedly from the USA. We’ve checked all of the registers listed above and found no trace of the FlawlessTradeFX license whatsoever.
The brand is allegedly owned by Flawlessfx Ltd from California, USA, but there’s no official evidence of that either. Based on everything so far, we can say that this trading firm has so many red flags that you shouldn’t even consider it.
FlawlessTradeFX Warnings From Financial Regulators
Ironically named FlawlessTradeFX is everything but not flawless. The company managed to get on the blacklist of several offshore regulators, which we rarely see. The first one to publish an official warning was FSC Mauritius, the alleged regulator of the company.
All these warnings state the same – FlawlessTradeFX is a scam, stay away!
Fund Withdrawal Issues
After everything being said, withdrawal issues are something we were sad about but not shocked to see. All of the investors that fell for the FlawlessTradeFX scam have experienced the same – their withdrawal request was never processed, and they never got a penny back, regardless of how much they invested.
That’s why it’s important to invest with regulated brokers, as they have compensation funds.
Traders About FlawlessTradeFX Scam
There’s a lot that traders have to say about the FlawlessTradeFX trading scam. Besides the aforementioned withdrawal issues, the minimum deposit is too high. The spread starts from 1.9 pips, which is higher than the industry standard. There’s nobody who would assist investors with their issues.
According to FlawlessTradeFX reviews, broker’s employees are unavailable when they figure they cannot extort any more money from a client.
How To Know If You Have Been Scammed?
Besides obvious, such as withdrawal issues, there are several more scam signs. If you cannot log in to your trading account for a while, trades you’ve never opened are showing on your account, or you see that some of the trades have been closed without your approval, you should be worried.
This is when you need to file a complaint and request a chargeback. Remember that you have up to 540 days after the fraudulent transaction occurred for this action, so don’t waste time.
Scammed by FlawlessTradeFX? – Tell Us Your Story
If you were involved with FlawlessTradeFX, most likely, you have been scammed. That’s why we would like to hear your story and find the most suitable money-back solution for you. You need to file a dispute and request a chargeback with the assistance of our specialists.
But What Is A Chargeback?
This is a way for your bank to reverse the transaction if you provide sufficient evidence that you have been scammed. Tell us your story via online chat, book your free consultation, and let’s see how you can get a refund.
What Is FlawlessTradeFX?
FlawlessTradeFX is an online trading brokerage blacklisted all around the globe.
Is FlawlessTradeFX A Scam Broker?
Yes, company has been blacklisted in Germany, Belize, Mauritius, and Grenada, proving it’s a scam firm.
Is FlawlessTradeFX Regulated?
No, FlawlessTradeFX is not regulated despite many false claims on their website.