FirstClassForexFunds Review – All The Dirty Tricks Exposed
At first glance, it all looks nice and shiny on their website. However, by digging deeper you realize that it’s all a mask. In the first place, the company is not transparent about ownership or address information. Not even in legal documents.
So, can you expect anything good from such a company? Let’s find out together in this unbiased FirstClassForexFunds Review.
|Regulated by:||No regulations|
|Is This Company Safe?||No|
|Have Warnings from:||N/A|
|Registered in:||British Virgin Islands|
|Trading Assets:||Cryptocurrencies, Forex, Commodities, Indices|
|Free Demo Account:||No|
|How to Withdraw from This Company?||Once you see all the complaints against the broker you will realize that the only options are alternatives. Either you apply for a chargeback or use CipherTrace software. For detailed guidance get in touch with our expert team today.|
Legal info: Is FirstClassForexFunds Legit or a Scam?
According to the T&Cs, the governing law is the British Virgin Islands. Therefore, the company should at least have FSC (BVI) license. Thus, they don’t. Neither do they have any other Tier 1 licenses like FCA, BaFin or ASIC.
With this in mind, you know that your funds are not protected at all. You don’t have negative balance protection, guaranteed stop-loss or segregated bank accounts for deposits. Therefore, a field prepared for a FirstClassForexFunds scam.
Who are FirstClassForexFunds Victims?
Obviously, the company had quite a hard sales tactic considering the number of negative reviews. On top of that, they registered in 2022. Nevertheless, they generally scam traders from:
- United States
- United Kingdom
Don’t hesitate to leave a comment about your experience. You should let other traders know about them. But also, our team can analyze your case and help you with the refund.
A shocking truth comes at first sight once you open firstclassforexfunds.co reviews. Only on Trustpilot, there are 1209 customers with 75% of negative reviews. All pointing out the same payout issues.
If this is not enough for you to avoid them, nothing will be. In either case, you should contact our team for chargeback assistance if you have withdrawal issues. To protect yourself from such cases we also invite you to check our GSI Markets review.
Leverage, Commissions, Spreads, Fees and Taxes
First Class Forex Funds company offer is quite unusual. They provide traders with unknown spreads. But at least leverage is known and goes up to 1:100. But it doesn’t comply with many Top Tier regulations. Also, overnight swaps and other trading costs are not revealed.
FirstClassForexFunds Trading Features
Another key fact is the non-transparent approach about trading software. Even though the company claims to offer industry-leading technology, it’s hard to believe. But this shouldn’t surprise you considering so many negative comments about First Class Forex Funds company.
Is FirstClassForexFunds legit?
Absolutely not. In the first place because of missing regulations. Also, there’s missing information about the company address and ownership. Not to mention contact options.
Available Trading Assets
In general, the company claims to offer instruments like any other broker. Although, that doesn’t make a company legitimate. In any case, seems like with First Class Forex Funds you can invest in:
- Forex – USD/JPY, AUD/HKD
- Commodities – Gold, silver
- Indices – DAX30, Dow Jones
- Cryptos – BTC, LTC
This company has 2 different classifications. There’s a 1-stage and 2-stage evaluation program. Practically, you are paying an evaluation fee to get a funded account and pass the test. Only after passing the test, you can get the designated profit.
2-step evaulation options:
- $200K funds – $985 fee
- $100K funds – $525 fee
- $50K funds – $315 fee
- $25K funds – $205 fee
1-step evaluation options:
- $200K funds – $1850 fee
- $100K funds – $950 fee
- $50K funds – $575 fee
- $25K funds – $375 fee
The daily loss limit for all accounts is 5% while the maximum loss limit is 12%. Also, the profit share goes up to 90%. With anonymous trading software, there’s plenty of room for manipulation. Honestly, does it make sense that you pay a fee of $2K and get 90% of $200K + profits? For more unlogical equations you can check our Orotrader Review as well.
Mobile Trading App
Unfortunately, the company doesn’t offer details about any mobile apps. However, they promote the FirstClassForexFunds discord group where you can explore more. But nothing about the software details is science fiction.
Non-surprisingly, the company doesn’t offer a demo account either. This is a huge warning sign on top of all. They expect you to invest money in unknown platforms and trade under their conditions without checking the software.
Sadly, the company doesn’t offer any kind of education. Not even analytical tools. But if you are applying for a contest they consider that you know how to trade.
FirstClassForexFunds payouts are another mystery. The company doesn’t offer a transparent withdrawal policy. For that reason, it’s not surprising there are so many reviews complaining about withdrawals. But without regulation, they can make up any other reason not to allow your withdrawal request.
As for the funding options, you can choose credit/debit cards and crypto. Be aware that crypto transfers are irreversible and don’t fall under pressure to use that method. Withdrawal fees and the processing time are also unknown.
Another key warning sign is poor contact options. The company only offers a live chat contact feature. Yet, some traders reported that customer service just closes the chat if you are looking for a withdrawal. According to the company, working hours are Monday-Friday 9 AM – 4 PM EST. But also on Sunday from 9 PM to 5 AM EST.
Key Information To Consider About FirstClassForexFunds?
In the first place, the company is not regulated. Also, First Class Forex Funds rules are quite unclear, but also ownership and address details. Not to mention missing information about the trading software, withdrawal policies and many more.
There is a 75% chance of withdrawal issues. For this reason, you need to be aware of your options. Our specialized team is equipped with CipherTrace software for crypto tracking. But also, they can advise you on chargeback. Don’t hesitate, because I’ts your money at stake. Get in touch today, the first consultation is completely free.
What Is FirstClassForexFunds?
First Class Forex Funds prop firm is an anonymous scam company offering fake investment programs
Is FirstClassForexFunds Legit?
Absolutely not. The company is not regulated and numerous traders filed complaints against the company. If you had also issues, contact our expert team for advice.
Who Is The Owner Of FirstClassForexFunds?
The ownership of the First Class Forex Funds scam company is not revealed. Not even in their Terms of Service.
Where Is The Location Of FirstClassForexFunds?
The company doesn’t reveal transparent location details. However, T&Cs reveal that governing law is the British Virgin Islands.