In the vast universe of Forex trading, the success of a trader hinges heavily on their brokerage. It is the broker who gives life to the trader's deals, making them a reality in the stock market. However, it is an unfortunate truth that scams have seeped into this field, tarnishing its reputation. One such culprit adding to the growing list of fraudulent companies is SeguroFX.
The Fallacy of SeguroFX
SeguroFX has built a notorious reputation for itself. It's a company notorious for unethical practices, including technical manipulations and fake news distribution. Hundreds of their past clients have suffered due to their services. There's a plethora of negative reviews online that scream loud and clear: SeguroFX is not a trustworthy service.
The company operates without valid licenses, and its chaotic business conduct breaches regulator rules. It has failed to deliver on payouts, and its customer support is virtually non-existent. The quality of the website is subpar, and the lack of a clear user agreement is a red flag. The company lures in unsuspecting traders with low commissions and an illusion of zero risks.
However, opening an account with SeguroFX is a guaranteed way to lose money. The company is relatively new, with less than a month since its inception, contrary to its claims of long-term activity and millions of open accounts.
Red Flags: Why SeguroFX is a Scam
SeguroFX does not possess any legal documents that might verify its legitimacy. The website is void of any legal information, and financial reports are never provided. The company history is riddled with gaps and inaccuracies, and the website performance is sluggish. The staff lack competency, and the company has been caught using bots to publish 'positive' reviews.
Moreover, SeguroFX has been noticed to manipulate market prices. The company artificially raised and lowered the prices of specific stocks, creating false market signals for the depositors and simulating market demand.
Unethical Practices of SeguroFX
Forex broker SeguroFX employs a variety of dishonest tactics that further its agenda:
- Spreading False Information: The company regularly posts false reports and recommendations on its website and social media platforms, misleading traders.
- Spoofing: SeguroFX simulates futures purchase/sale orders at a lower cost, creating a false impression of a price drop.
- Artificial Demand Creation: SeguroFX uses computer programs to make purchases and sales, manipulating financial instrument prices and increasing investor interest.
- Use of Fictitious Investment Schemes: The company guarantees instant income from investment in non-existent products. It also regularly showcases falsified client results.
The Dark Side of SeguroFX
There is a severe lack of transparency in SeguroFX's operations, and profits are grossly exaggerated. The withdrawal methods offered are dubious, and the employees initiate contact, aggressively pushing their services. Their conduct is unprofessional, and they frequently make daily posts on social media, messengers, and emails, offering implausible conditions to bait high potential profits and low rates.
SeguroFX is not regulated, and registration data is hidden.
Reasons Not to Trust SeguroFX
SeguroFX has numerous negative customer reviews, victims of its dishonest practices. Almost no one has managed to withdraw money, and there was pressure from employees. The support service was non-functional, and mobile trading is undeveloped. In addition, extra commissions not specified in the contract were charged. Risks were not reported, and outdated quotes were presented on the site.
Here's why you should not open an account with SeguroFX:
- No financial reports
- Dubious conditions
- User agreement is hidden
- Licenses and other legal documents, as well as contact data, are not presented on the website
- The brand has existed for less than a month
- No training is provided
- Price manipulation
- Pushing non-existent investment products
SeguroFX violates regulator standards, constantly deceives customers, does not fulfill its obligations, actively makes calls, does not make payouts. It is not advisable to have any dealings with this broker as it is a scammer that can lead to a loss of money.