A company promoting cutting-edge AI trading solutions should undoubtedly invest in a more professional and well-structured website. It’s perplexing to discern the intended impression of this blacklisted fraudulent entity, given the shoddy state of their own website.
The haphazard web design not only fails to instill confidence but also raises doubts about their claims of unrivaled investment technology. Compounding the issue, it appears that any operations they attempt are entirely unsupervised and lack the requisite licensing.
For comprehensive insights into safeguarding your assets and avoiding unscrupulous individuals who aim to deprive you of your hard-earned money, I recommend delving into this FXpremium review.
A New Entrant Swiftly Blacklisted
Recognized for its vigilant oversight, the FCA wasted no time in uncovering illicit activities on the fxpremium.org domain. Just three months into its unlawful operations, the website found itself on the blacklist due to fraudulent practices. It’s evident that the website’s claims were nothing more than fabricated falsehoods designed to entice unsuspecting victims.
The absence of Tier 1 licenses renders this scheme unfit for your investments. Our consultations with additional regulatory bodies, including CySEC, ASIC, and BaFin, have confirmed that this entity never received a legitimate license for any of its services.
Beware of the Perils Linked to Illicit Entities – your funds remain unprotected, segregated accounts are nonexistent, and compensation plans and risk management measures are conspicuously absent. Another Forex dealer operating without proper certification is LEIWOW FX.
Tactics of Attraction
Our examination of the WhoIs register reveals that the fxpremium.org website is relatively new, having been launched in July 2023, with a focus on targeting citizens from the following nations:
- Germany
- United States
- United Kingdom
- Netherlands
- France
Many of these fraudulent entities heavily rely on boiler room agents to lure new clients, with Inverforx being another example. These agents are skilled in the arts of persuasion and persistence.
Their common narrative often revolves around them posing as renowned crypto traders and experienced investors in search of financial backers. Once a victim succumbs, they continuously demand more money.
However, it’s all a ruse, and recovering funds from these deceivers is a challenging endeavor. If you require assistance with a chargeback related to FXpremium, please use the form at the bottom of our page.
Deceptive Cost Claims
FXpremium fails to disclose trading conditions and costs on its dubious website. In an attempt to entice traders into investing in evidently fictitious plans, they obscure all genuine information. It’s implausible that all services provided by this investment portal are entirely free of charge, as even reputable service providers incur costs through commissions, taxes, and trading fees.
To swiftly ensnare unsuspecting investors with their fraudulent promises, the FXpremium scam boldly declares that no fees are imposed. Given the absence of any legal documentation on the site, we are unable to verify the veracity of this statement.
Conclusion
In conclusion, FXpremium emerges as a new entrant in the financial scene, but its swift blacklisting by the vigilant FCA underscores its fraudulent nature. The website’s claims of legitimacy and attractive investment opportunities are revealed as fabrications aimed at luring unsuspecting victims.
The absence of Tier 1 licenses from regulatory bodies and the failure to secure approval from authorities such as CySEC, ASIC, and BaFin cast a dark shadow over the legitimacy of FXpremium. This, in turn, puts investors’ funds at risk, as the platform lacks crucial safeguards such as segregated accounts, compensation plans, and effective risk management.
FXpremium’s solicitation methods, including the use of boiler room agents and persuasive tactics, indicate a pattern of deceitful conduct. Victims are often persuaded to invest more money, only to discover the deception behind these claims.
Furthermore, the lack of transparency regarding trading conditions and costs on the website raises suspicions. The assertion of entirely fee-free services lacks credibility, particularly in an industry where costs are typically incurred through commissions and trading fees.
Given the multiple red flags surrounding FXpremium, it is strongly advised to exercise caution and avoid engaging with this platform. For those who have fallen victim to its deceptive practices, seeking assistance with chargebacks may be a viable course of action.
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