Beware! Temporalexchange is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Temporalexchange says to have been committed to providing unparalleled trading experience. They also claim to be transparent, true ECN Forex broker offering unmatched speed of execution, regulation and safety. In fact, the people standing behind this entity have been offering Forex products and services for years, but not in the way you would think of. It is a Forex broker run by a group of scammers, who also operate many other similar scam brokers and websites, find out who they are in the full Temporal exchange review.
Temporalexchange REGULATION AND SAFETY OF FUNDS
Temporalexchange is a trading name of Knight Service Group Limited, a company which is run by the same people who are operating Business Choice Partners. Both the companies are confirmed scam, you should avoid them and report immediately if they contact you! There are a number of warnings issued against them by many financial regulators around the world, including UK, EU and New Zealand. The other scam brokers and websites created by the group are KSGMarkets, Axe Markets Group, Vow Markets and BCP! Here is the FMA official warning:
In fact, Temporalexchange is among the latest business creatures, established by the group, and too similar in appearance with the one we previously reviewed today, called Ksgmarketsworld, have a look. In addition, the Metatrader 5 .exe file is absolutely the same, which is another proof that both of these are run by the same people, in the same way. It is a proven scam and a very dangerous one, indeed.
Your funds are not safe if you make a deposit with Temporalexchange, it is an unlicensed, unauthorized and unregulated Forex broker, run by a company blacklisted by various financial regulators around the world.
If you are looking for a reliable, true Forex broker choose CySEC(EU) or FCA(UK) company, one that is legit, authorized and regulated. The customer protection policy is placed on top of their priority list, not because they want to, but because they have to. In these jurisdictions the Forex brokers have to comply with many strict rules and regulations, such as minimum capital requirements of 730 000 EUR, personnel qualification standards, segregation of the clients accounts etc. There are also money protection schemes in operation, such as ICF in Cyprus and FSCS in UK, which guarantee the deposits of the clients. Under CySEC(Cyprus) supervision you can claim up to 20 000 EUR in compensation, while in UK under FCA you are guaranteed of even up to 85 000 GBP. Each EU member state is compelled to create and further operate similar insurance funds, which are seen to be the last resort for the traders, in case a Forex broker faces difficulties to meet its financial obligations.
Temporalexchange TRADING SOFTWARE
Temporalexchange offers only MT5 accounts, web-based trading and MT4 accounts are not provided. We were unable to register, but managed to download and test their platform. Demo trading is available and the EUR/USD spread is 0.1 pips most of the time. Upon the platform start, as expected, we were already having a demo account at our disposal, opened during the Ksgmarketsworld review, but the charts remained frozen. We opened another demo, but with no effect, their platform is not working, it is a scam anyway, avoid Temporalexchange!
The leverage level is up to the staggering 1:1000. It’s no longer trading, but gambling, if you are using such a ratio, our advice is to reduce the leverage as much as possible, and have a look at the legit EU, UK Forex brokers. These are capped at 1:30 for a reason, it became obvious that the higher leverage leads to greater losses among the traders and investors with little or no experience. In fact, no matter the experience, trading 1:1000 is always a gambling, not a trading.
Temporalexchange DEPOSIT/WITHDRAW METHODS AND FEES
Similarly to Ksgmarketsworld, Temporalexchange didn’t care enough and as a result there aren’t any legal documents provided, such as T&Cs or Client Agreement, for example. Therefore, no minimum deposit known, no funding methods known, no minimum withdrawal and no fees specified. There is no dormant account policy, no bonuses or other trading incentives offered, no partnership programs introduced.
It is clear that the group works in the social media platforms, their hunting fields include Facebook, Instagram, Youtube etc. Beware, do not respond to people who randomly approach you, introducing financial and investment opportunities that are too good to be true!
HOW DOES THE SCAM WORK
A group of scammers usually operates many different scam brokers, scam websites and call centers. Sometimes they will simply rely on the quantity, they will publish tens or hundreds of websites and will just wait for traders and investors with little or no experience to bite. Nowadays, it’s very cheap to create one, and it looks like a profitable strategy, as they carry on doing it.
BCP, as we call the group standing behind Temporalexchange, is known to deploy young and attractive, usually Asian ladies, who will approach male customers in the social media platforms. These fraudsters created a complex scam system which makes them extremely dangerous and lethal for you bank account. While the usual scam follows a simple model targeting investors looking for lightning quick profits, here we have a mix in operation, exploiting typical human characteristics such as greed, lust, credulity and naivety, at the same time. It makes their victims much more vulnerable in the first place and the record shows that the losses caused are greater than usual. BCP have already scammed a huge number of people and you should never ever interact with them. In case this happen, do not go a step further and deposit money with them, you are guaranteed to register losses by following their instructions or requests. Stay away from Ksgmarketsworld, it is a proven scam and report immediately if they contact you!
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!