In the world of trading, the success of a trader relies heavily on the choice of a reliable broker. A broker acts as an intermediary, facilitating trades on the stock market, and directly impacting future earnings. Unfortunately, the market is flooded with fraudulent entities engaging in not only technical manipulation but also the fabrication of news. One such company is FAST Forex. With hundreds of disgruntled customers and a plethora of negative reviews, it is evident that this service cannot be trusted. In this article, we will delve into the deceitful practices employed by FAST Forex, shed light on their unethical behavior, and provide insights on why you should steer clear of this scam.
The Telltale Signs of Fraud
FAST Forex operates without proper licensing, displaying a lack of transparency and professionalism. The broker violates regulatory protocols, with reports of non-payment and an unresponsive customer support team. The website's quality leaves much to be desired, and the absence of a clearly defined user agreement raises suspicions. The lure of low commissions and the promise of risk-free trading are used to entice unsuspecting individuals. However, make no mistake, FAST Forex is a scam and should not be trusted.
Uncovering Deceptive Practices
The list of deceptive tactics employed by FAST Forex is extensive. Let's explore some of the dishonest techniques utilized by this scam:
1. Dissemination of False Information
FAST Forex regularly publishes false reports and recommendations on its website and social media platforms, misleading traders with misinformation.
This scamming broker engages in spooﬁng by simulating orders to buy or sell futures at lower prices, creating a false impression of a market decline.
3. Artificial Demand Creation
FAST Forex utilizes computer programs to manipulate the prices of financial instruments, influencing investor interest and artificially increasing demand.
4. Use of Fake Investment Schemes
The company guarantees instant income through investments in non-existent products. Additionally, they frequently present false client results to deceive potential investors.
The Grim Reality of FAST Forex
FAST Forex is a fraudulent broker lacking transparency, exaggerating profit potential, and offering dubious withdrawal methods. Their employees aggressively approach potential clients, behaving unprofessionally and bombarding them with daily messages via social media, messengers, and email. They entice individuals with unrealistic conditions, baiting them with promises of high profits and low percentages. Furthermore, the company operates without regulatory oversight, concealing its registration information.
Why FAST Forex Cannot be Trusted
The service has garnered numerous negative reviews from customers who have fallen victim to its dishonest practices. Withdrawals are nearly impossible, and customers have reported coercion from staff members. The customer support service is non-existent, and mobile trading capabilities are severely lacking. Additional charges, not stipulated in the original agreement, have been imposed. Risk factors are concealed, and the website displays outdated quotes. For these reasons, opening an account with FAST Forex should be avoided due to the following:
1. Lack of Financial Accountability
The absence of financial reports and concealment of licensing, legal documentation, and contact information on the website raise serious concerns.
2. Dubious Conditions
FAST Forex offers questionable trading conditions, hidden user agreements, and a brand that has only been in existence for less than a month.
3. Lack of Education
The company fails to provide adequate educational resources, leaving traders ill-equipped to navigate the complex world of Forex trading.
4. Manipulation of Prices
FAST Forex has been caught manipulating prices, artificially inflating or deflating the value of certain stocks to create false market signals.
5. Promotion of Non-existent Investment Products
This scamming broker entices individuals with nonexistent investment opportunities, promising unrealistic returns.
In conclusion, FAST Forex is a scamming broker that violates industry standards, deceives customers, fails to fulfill its obligations, and actively avoids regulatory oversight. Engaging with this broker can result in significant financial losses, as it exhibits all the characteristics of a typical fraudster. It is crucial to exercise caution and conduct thorough research before entrusting your funds to any broker. Stay vigilant and protect yourself from scams like FAST Forex.