Forex is an international currency market where you can earn money by exchanging one currency for another. However, in order to trade Forex, you need to have a reliable Forex broker who will give you access to the market, keep your funds safe and guarantee the integrity of your trades. Unfortunately, not all brokers fulfil these requirements, and among them there are many scammers who try to cheat their clients and take their money. One such scammer is Manifesto Bank, which we will tell you about in this article.
Manifesto Bank is a company that is registered in Belize but offers its services in different countries. On its website, it claims to be an innovative and transparent broker, offering high-quality services, low commissions, a wide range of instruments and bonuses. However, a closer look reveals many signs that Manifesto Bank is a scam that has nothing to do with the real Forex market. Here are some of them:
Lack of licence
Manifesto Bank does not have any licence from the regulators that oversee financial companies and protect the rights of investors. This means that the company is not subject to any laws and regulations, is not responsible for its obligations and does not guarantee money back in case of problems. In addition, the company is not a member of any compensation funds that can reimburse clients' losses in case the broker goes bankrupt. Thus, if you entrust your money to Manifesto Bank, you risk losing it irretrievably.
Manifesto Bank's website has a section with testimonials from customers who are supposedly satisfied with the company's services and make good profits. However, if you check these reviews, you will see that they are written by the same person who uses different names and photos. In addition, these reviews are completely the same as reviews on other scam sites that copy each other. This suggests that Manifesto Bank is trying to create a false impression of its reputation and attract new victims.
Manifesto Bank promises its clients high profitability, which is achieved through the use of special strategies, signals, robots and other tools. However, these promises have no confirmation and do not correspond to reality. There are no guaranteed profits in the Forex market and any trader can face losses. In addition, Manifesto Bank does not provide any proof of its trading activities such as trading history, profit reports, audits, etc. This means that the company does not trade in the real market, but simply manipulates quotes and withdraws clients' money into its own pocket.
Many clients of Manifesto Bank complain that they cannot withdraw their money from the trading account, or they have to wait for a long time, or they are required to pay various commissions and taxes. The company comes up with various excuses to delay or deny withdrawals, such as document verification, technical problems, need for additional deposit, etc. This shows that Manifesto Bank does not want to return money to clients, but tries to lure them out even more.
Manifesto Bank actively advertises its services online using different channels such as social media, mail, phone, messengers, etc. The company attracts the attention of potential customers by using false information such as personal success stories, celebrity endorsements, special offers, free training materials, etc. The company also hires agents who pose as professional traders, consultants, managers, etc. and try to convince people to register on Manifesto Bank's website and deposit money into a trading account. This shows that Manifesto Bank is not interested in providing quality services, but only in collecting money from naive people.
From all of the above we can conclude that Manifesto Bank is a scammer that you should not trust. If you want to trade in the Forex market, you need to choose a Forex broker that has a licence, good reputation, transparency, reliability and safety. You also need to educate yourself about trading, analyse the market, develop your strategy and only risk the money you can afford to lose.
If you have already been contacted by Manifesto Bank or other fraudsters, you should immediately stop contacting them, try to get your money back if possible and contact the police or other competent authorities. You also need to warn other people about the activities of these scammers so that they don't fall into their trap.
We hope this article will help you avoid Forex scammers and choose a reliable Forex broker. If you have any questions or comments, please email us. We will be glad to receive your feedback. Thank you for your attention!