Like most scammers, FullMarkets is a completely anonymous organization that hides the identity of the owners and employees. We only know about the company what they want us to know. Should you trust a broker that neglects transparency? Let’s find out!
| Broker status: | Unregulated |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | fullmarkets.com |
| Blacklisted as a Scam by: | CONSOB |
| Owned by: | N/A |
| Headquarters Country: | UK |
| Foundation year: | N/A |
| Supported Platforms: | MetaTrader 4 |
| Minimum Deposit: | EUR250 |
| Cryptocurrencies: | Yes |
| Types of Assets: | Forex, Commodities, Indices, Cryptos, Stocks, ETF |
| Maximum Leverage: | 1:500 |
| Free Demo Account: | No |
| Accepts US clients: | No |
What About FullMarkets Regulation?
FullMarkets claims to be a UK-based brokerage company. However, you won’t find FCA regulation data on their official website. Strangely, a broker that claims to work with more than 120,000 clients cannot meet the requirements of the Financial Conduct Authority. A regulator with 30 years of history is quite strict, but a top-notch organization like FullMarkets neglects to achieve FCA’s credit. Instead, they opted for IBREM regulation. This is a rather strange choice considering that this firm doesn’t have a high trader confidence rating. In addition, we didn’t find trustworthy brokers in the lists of audited companies. In any case, any reliable company from the United Kingdom should be under the supervision of the FCA.
In addition to the above, we strongly advise you not to invest in CryptoSpotFX, TudoFX and 365 Capital FX fraudulent brokers.
FullMarkets Warnings From Financial Regulators
On January 24, 2022, the well-known Italian regulator added another list of scam brokers to protect genuine investors. In the list, you can see Beradora LTD and a link to the official website of FullMarkets. Beradora is a secure joint-stock company managing the affairs of an investment company. CONSOB has clarified that this broker cannot be trusted since it has been caught on fraudulent activity.
FullMarkets Trading Instruments
The broker offers clients to silence an account with multiple currencies to trade with the following assets:
- Forex;
- Commodities;
- Indices;
- Stocks;
- Cryptocurrency;
- ETF.
Withdrawal Methods and Bonuses
Unfortunately, you cannot discover more about the withdrawal methods until you have invested in an account. All that is available to you is guesses and a few logos of popular payment systems like Visa, Skrill, Neteller, and Mastercard. In addition, after checking the terms and conditions of cooperation and other official website content, you may notice that the broker offers bonuses. However, under the laws of the European Union, investment agencies don’t have the right to provide customers with bonuses. This means that the broker completely ignores the law and is not afraid of the power of justice, which may indicate that the real headquarters of the organization is located outside the UK.
Most of the Victims are Citizens of European Countries
EU citizens always trust the government and feel protected by the laws and the judiciary. However, confidence sometimes backfires. Scam brokers manipulate clients’ trust who believe that to avoid a scam, it is enough to choose a Europe-based broker. Until recently, the UK was a member of the European Union, so it’s no surprise that FullMarkets has such a high customer trust rating. Most of the scam victims are citizens of Germany, Spain, Greece, and the UK.
Traders About FullMarkets Scam
It is important to mention that the number of reviews about the broker doesn’t match the claims of 120,000 real clients. Most testimonial websites don’t have more than 10-15 reviews. The average rating of a company usually doesn’t exceed 2 stars. Most victims complain about stealing money and persistently harassing managers after refusing further cooperation. Here’s a pretty interesting review:
«Terrible! These guys stalk you for whatever reason. Don’t listen, just aggressively pursue with sales talk. As well repeated requests to erase your data from their systems are ignored.
I have blocked now over 20 phone numbers of their automatic call center, some of them from Italy, as well Helsinki and the Philippines…»
Is it Possible to Avoid a Scam Scheme?
Most often, scammers use the same scheme, including beautiful promises, false claims, as well as fake regulations and reviews. However, you can always avoid being scammed by choosing trusted brokers under the strict supervision of 5-star rated regulators. Remember to check the data on the official websites of financial authorities and carefully research the networks to find evidence of the reliability of the investment company.
Also remember the names of the IQCent, WinBitx and AceTradeOptions trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Scammed by FullMarkets? — Tell Us Your Story
If you have complaints about a broker that violated any terms and conditions, please contact our lawyers and cyber security experts via online chat and leave a request for free assistance!
But What Is A Chargeback?
Chargeback is the fastest and most efficient way to get your money back. All you need to start a refund process is to provide evidence of a scam so that our team can perform a chargeback without bringing the case to court.
What Is FullMarkets?
This is an anonymous investing company that presents itself as reliable, while continuing to misappropriating customers’ money.
Is FullMarkets A Scam Broker?
Yes, FullMarkets was blacklisted by CONSOB as a fraudulent organization.
Is FullMarkets Regulated?
No, the broker isn’t licensed or regulated by trustworthy financial authority.
