Beware! Flexomarketasia 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.
Flexomarketasia has a specific appearance that’s familiar to us. The logo is almost identical to the logos used by other scams – OBGFX is the latest fraudulent broker with an almost identical appearance, and it’s an exposed scam! That’s circumstantial evidence, but the visual look is enough to raise suspicion. What’s more, the so-called broker waves many other red flags, the most significant of which will be discussed in the full Flexomarketasia review.
Flexomarketasia Regulation And Safety Of Funds
Flexomarketasia is allegedly linked to two companies, one registered in the UK, the other in St. Vincent and the Grenadines. The UK firm was traced – it was incorporated just three months ago, but it is not regulated, as you can see from the screenshot below. And frankly speaking, we didn’t even waste time searching for the SVG entity, as it doesn’t really matter. St. Vincent and the Grenadines is an offshore jurisdiction where Forex brokers are not licensed or monitored, meaning that Flexomarketasia remains NOT REGULATED!
The lack of regulation is a serious issue as it implies that clients’ deposits will be exposed to risks. However, unregulated offshore brokers are much more dangerous as they are completely anonymous and impossible to trace. Once you deposit with such a broker, your money will go somewhere out of your country, so it would be almost impossible to track down or retrieve the funds. Flexomarketasia is a pure offshore broker, and it should be avoided!
That said, we’d like to suggest our lists with adequately regulated Forex firms if you are still interested in trading! For example, both CySEC (Cyprus) licensed brokers and FCA (Britain) brokers are proven safe as both authorities force strict regulations to guarantee safety for clients’ funds. The compulsory rules include client account segregation, risk-reducing measures like leverage restrictions and negative balance protection, and increased capital requirements to license a broker (€730 000). Most importantly, though, both authorities maintain deposit insurance funds – clients of CySEC brokers can claim up to €20 000 in compensation, while the UK protections are even higher at £85 000 per person! It goes without saying that if you trade with unregulated brokers, you’ll remain unprotected and exposed to fraud risks!
Here is the proof that Flexomarketasia is not regulated:
Flexomarketasia Trading Software
Flexomarketasia doesn’t have trading software, so it can’t provide authentic Forex service – that’s a red flag strongly indicating a scam! What they have is an MT4/MT5 training platform on generic Demo servers of MetaQuites, meaning that no real trading is possible. We doubt that Flexomarketasia has any servers whatsoever, and under the circumstances, we can confirm that Flexomarketasia is a pure scam!
Avoid it and while speaking of platforms, have a look at our lists with MetaTrader4 and MetaTrader5 brokers. The high-ranked companies at the top are adequately regulated and safe, so you can trust your money with them. We endorse MT regulated brokers as both MT4 and MT5 are industry leaders known for their stability and the plethora of advanced features included, such as automated trading and analytical tools and the marketplace with thousands of trading apps. Flexomarketasia is a fake MetaTrader broker, and you should avoid it!
Flexomarketasia Trading Conditions
Flexomarketasia’s platform is fraudulent, so we can’t discuss real trading conditions. In the screenshot below, you can see zero spread difference, but that doesn’t apply to Flexomarketasia – the rate applies to MetaQuotes Demo servers! But anyway, Flexomarketasia’s claims should be covered in order to draw a better picture of the brokerage and show their lies, of course!
So, the asset classes available for trading are allegedly Forex, Indices and Commodities, but that’s not true.
The trading costs are allegedly very low as spreads are said to be ultra-tight, but that’s just another lie.
The trading risks are allegedly high as leverage is said to reach 1:400, but as you can guess, that’s not true either. The problem with the leverage is that 1:400 is prohibited in the UK, meaning that Flexomarketasia’s claims to be a legit UK broker become compromised, which more or less proves it’s a scam!
Flexomarketasia Deposit/Withdraw Methods And Fees
The minimum deposit is $200, a tolerable requirement, but it’s still higher than necessary, and we say so because many regulated brokers open accounts for as little as 5 dollars.
The funding methods are allegedly Credit/Debit cards and cryptocurrencies, but that’s not actually true. You can see them below, and we explained within the screenshot what’s the real problem – namely, the Credit card option redirects to some fishy voucher site, which is a red flag nonetheless. If you use your bank card for a voucher and then send it to the broker, the chargeback options become compromised, and you may never retrieve your funds if you get scammed! On the other hand, crypto deposits are always final, which ultimately means that Flexomarketasia deliberately limits all refund options! That’s evidence of a scam!
As a shady suspected scam, Flexomarketasia discloses no information about withdrawals and fees, quite naturally, triggering yet another major red flag! Flexomarketasia is a scam, and you should avoid it!
How Does The Scam Work
Forex scams are different from one another, but in most cases, the fraudulent scheme is practically carried out in the same way. Scam brokers are always unregulated and usually registered somewhere offshore, which helps scammers remain anonymous and untraceable. If you open an account with such an entity, you should expect endless phone calls. Scammers will constantly try to approach you and make you deposit money as quickly as possible. Remember that urgency is always a treacherous sign, so it’s probably a scam if someone calls you twenty times per day, asking for money.
In the worst-case scenario, you’ll deposit, and scammers will persuade you to trade instead of you. You’ll soon see magnificent profits generated – false, of course, and you’ll get excited, asking to take your money back. As you probably guess, they won’t let you do so and will try to get another deposit from you, promising that much more lucrative gains are waiting. Or, they can ask for a false tax, saying that withdrawals are only possible if you cover the charge in advance. If you pay, you’ll increase the amount stolen from you, but if you keep asking for your money, you’ll soon realise it’s a scam!
What To Do If Scammed
You should first inform the authorities – call the police and contact your local regulators and other government bodies dealing with crime and fraud. Also, deactivate your cards ASAP and call your bank to inform them about what happened – they can provide essential information and help you reduce further financial damage.
If you deposited cryptocurrencies, there is not much you can do, but if you used your credit/debit cards, you could file a chargeback, hoping that all or some of the money invested can be retrieved. However, you shouldn’t go blindly looking to recover the loss because many fraudulent chargeback agencies are waiting to double-scam victims of fraud – be cautious about it!
And lastly, consider sharing your experience to help protect others and provide further information about how scams work!