Fidelityfxtrade, Zenithoptionstrade and Westtechtrade review – 5 things you should know

Fidelityfxtrade, Zenithoptionstrade and Westtechtrade review – 5 things you should know

Beware! Fidelityfxtrade is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

IG USForex.com

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

First thing to know about the three entities is that they are officially charged by CFTC for making False Registration Claims, under CFTC release number 8229-20, published on 01 September 2020. All of these websites are absolutely identical and are being run by the same group of scammers! In fact, Commodity Futures Trading Commission warned 10 websites based in Walsall, UK, but there are only 3 left online!

These individuals also shamelessly speculate with the name of Queen Elizabeth, stay away from these websites and report immediately if contacted by them!

Fidelityfxtrade, Zenithoptionstrade and Westtechtrade REGULATION AND SAFETY OF FUNDS

The only thing we know about these is their address, but we can’t confirm that it’s valid and they are actually based there. It’s not a business district or an office building on this address, it’s simply an attached UK house there! We suspect that the scammers are using a random address, but it doesn’t really change the case, because there is no other legal document that they can provide on any of their websites. They claim to be NFA regulated but this is not true, CFTC has already warned them, as already mentioned!

 

We didn’t find T&Cs, Client Agreement, or even Terms of Use for the websites. We couldn’t trace a company standing behind them, which, fairly speaking, was not a surprise. Some scammers do not even see it necessary to register a company, it is a waste of time for them and we can easily figure out why. The cryptocurrencies are rising in popularity and the scammers do not need the services of a bank or other financial institution, by using Bitcoin payments they remain anonymous, exactly what they desire!

Avoid these websites at any cost, if you want to trade Forex and CFDs find a legit broker, always do the thorough research, because if you fail to do so you might end up becoming a victim of scam! As a trader you should only trust brokers that can undoubtedly prove to be licensed, authorized and transparent, regulated by a financial authority, such as FCA in Britain, CySEC in Cyprus (Forex brokers regulated there can operate throughout Europe) or NFA in the USA. The local financial regulators provide security for your funds by implementing strict rules, a regulated Forex broker cannot simply disappear, running away with your money. Offshore brokers or anonymous scam sites like these might be offline tomorrow, your funds are not safe if you deposit with Fidelityfxtrade, Zenithoptionstrade or Westtechtrade, avoid them!

Fidelityfxtrade, Zenithoptionstrade and Westtechtrade TRADING SOFTWARE

All of these websites present identical dashboards, and there isn’t any platform you can use for trading, only a trading view chart and live exchange rates are to be seen! MT4 or MT5 accounts are not available!


They claim to offer 1:300 leverage, but this information is fake, as there is no working trading platform. No spreads available, as well.

The accounts offered are actually some sort of investment plans, and it is said that you can earn up to 250% of the investment at the end of the period. The information at hand is very confusing and it’s difficult to confirm what is the term of the investments. However, as already pointed out, Fidelityfxtrade, Zenithoptionstrade and Westtechtrade are scam sites and you shouldn’t invest any money in them. Stay away!

Fidelityfxtrade, Zenithoptionstrade and Westtechtrade DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit required is 200 USD on Fidelityfxtrade and 300 USD on Zenithoptionstrade and Westtechtrade. They should have changed the sum out of boredom, because everything else is absolutely the same!

There isn’t any information about minimum withdrawal, supposedly at the end of the Investment period there will be at least 50% gains on the deposit and you will have your money back, but this won’t happen. The people standing behind these websites are scammers, and once you intend to withdraw your funds, they will start to persuade you to reinvest again and again, will delay endlessly or will simply disappear and you won’t be able to contact them again.

There are, in fact, too many funding methods displayed on each website, such as debit/credit card, Neteller, Skrill, PerfectMoney, Bitcoin etc. In reality, though, you can only deposit cryptos, which is the riskiest funding method in existence. Cryptos are not governed or regulated anywhere in the world and if you deposit Bitcoins with scammers it’s sure that you will not be able to recover the losses.

No fees specified, no dormant account policy and no bonuses or affiliate programs available.

HOW DOES THE SCAM WORK

A group of scammers usually operates many brokers and websites, linked with a single call center. They will publish tens of sites and will just wait for potential customers to sign-up. It seems a profitable strategy, as they carry on doing it, especially as the cryptos are rising in popularity. Remember, once you deposit cryptos its irreversible and you won’t be able to bring your money back!

You will register, but will not deposit money, let’s say. Time will pass, might be minutes, hours or weeks, then you will get a phone call from unknown number. If you answer the scammer might introduce himself/herself as an officer in a fictitious UK, EU or USA agency, claiming that they do regulate the financial markets. Then you will be explained that they take care to register all the people that are interested in the financial markets. If you are not familiar with the matter you might believe in their words, because they are experienced manipulators.

You will be informed that there are new laws and regulations and they need to gain some information about you. Clean-handed, the officer will ask you simple questions regarding your trading experience, your knowledge about the markets, your expectations and the initial money you intend to invest. If you answer and the talk continues, they will naturally and very easily shift the topic of the conversation to Bitcoins and soon after you will be carefully listening about the enormous opportunities of the cryptos. Everyone enjoys listening about money that he or she can earn or win!

Then, there are the totally fake news coming, at some point the scammer will tell you that just a day ago they received information by the companies they “regulate” that NASDAQ is going to stop using dollars, but instead will switch to Bitcoins, and the price of the cryptocurrency is expected to, at least triple by the end of the year. The conversation will extend and will cover topics such as markets, investment opportunities, and the trusted companies which work with them. The scammer might also say something completely ridiculous, for example that they provide the technology for FED, ECB and all the world’s leading banks!

Then, very naturally and in accordance with the topics discussed you will be asked which is your bank and before you know it the scammer will be waiting for you to tell him your 16-digits, so as to secure an investment, which return is guaranteed. And if you hesitate the so-called officer is going to become impatient and nervous!

Beware! Scammers are not only dangerous but also eloquent and honey-mouthed! Do not trust people who randomly approach you, always double-check if you are going to invest money and never reveal your bank card details!

WHAT TO DO WHEN SCAMMED

No one is immune to scam, anyone can fall into the trap. Scammers are constantly looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you important instructions to follow and will help you, if possible, recover your money.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!

Share online your experience, it is important to protect others, as well. Be responsible!

Stay away from Fidelityfxtrade, Zenithoptionstrade and Westtechtrade, it’s pure scam.

Top Forex Brokers

Broker Country Rating Min. Deposit Website
US 5/5 $50 Click for a special offerWebsite
USA 5/5 $250 Click for a special offerWebsite
UK, Cyprus, Belize 4.94/5 $5 Click for a special offerWebsite
Australia 4.93/5 $100 Click for a special offerWebsite
UK, Australia 4.85/5 $50 Click for a special offerWebsite
Cyprus, SVG 4.8/5 $100 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like

Nekstra review – 5 things you should know about nekstra.com

Nekstra is a Forex broker that refuses to