Rapidnex, an Australian broker, has a dubious history marred by questionable activities, prompting ASIC to reevaluate and ultimately revoke their license. While the Rapidnex website still promotes various instrument classes, the reality is far from promising. The platform’s fraudulent nature and deceptive conditions make genuine trading impossible.
What was once a regulated and trustworthy broker has transformed into a perilous entity. This comprehensive Rapidnex review unveils the full story behind its downfall and sheds light on the risks it poses to your investments.
Tier 1 License Lost: Rapidnex and Its Regulatory Troubles
Rapidnex’s parent company, RAPID (QLD) PTY LTD, was established in 2012 and held a valid license from the Australian regulator ASIC. However, recent records indicate that the company is currently under a strike-off action by ASIC.
A “strike-off” denotes ASIC’s process of deregistering a company. This action may result from non-payment of annual fees, inactivity, the absence of a liquidator, or regulatory breaches.
Furthermore, the broker claims to have another address in the UK, but the FCA has no record of this entity. This absence of regulatory oversight raises concerns about fund security, putting deposits at risk. Discover the full story of Rapidnex’s regulatory challenges and the potential dangers it poses.
Traders Victimized by Rapidnex
Rapidnex employs a common strategy of deceit, often targeting less experienced and knowledgeable forex traders who fall prey to their web of falsehoods. Their relentless boiler room agents play a pivotal role in recruiting victims and extracting money by promising substantial profits.
Countries with investors most adversely affected include:
- Australia
- Netherlands
- United Kingdom
Be cautious when encountering trading offers that appear too good to be true, as their primary aim is to lure you into making investments. If you’ve fallen victim to Rapidnex or any other suspicious entities, reach out to us for assistance in recovering your lost funds.
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