Beware! SecuredFxSignals 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.
SecuredFxSignals claims to be an international online broker actively operating in the Forex markets with its advanced, web-based trading platform allowing access to the largest lists of assets in the industry. They promise big, but nothing would be delivered in the end. We expected the so-called broker closely and can confirm that it’s a suspected scam and essentially an anonymous website. The following review reveals why we claim so.
SecuredFxSignals Regulation And Safety Of Funds
SecuredFxSignals’ headquarters address is purportedly located in Texas, the United States, which obviously suggests that SecuredFxSignals is an American broker. However, upon research, we can confirm that no such broker is registered or present in Texas, and these guys are lying. What’s more, there is no precise location pointed out, which demonstrates a lack of transparency that, in turn, contradicts some of the broker’s claims – to be fully transparent. Corpus Christi is an entire city with more than 300 000 residents, so pointing out just the name of it does not make the broker transparent; quite the contrary!
But anyway, our job is to research, and while doing so, we could not find a single thing about SecuredFxSignals. It’s not licensed, not regulated, and seems totally illegal, which is another major red flag to note! Dealing with anonymous and unregulated business creatures like SecuredFxSignals is always a bad idea, so we urge customers to stay away!
SecuredFxSignals is dangerous, and for that reason, we’d like to suggest our lists with safe and adequately regulated Forex brokers! 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, you can see some false claims:
SecuredFxSignals Trading Software
SecuredFxSignals remained hidden as we could find no way to log in after registration. Every time we tried, we were redirected back to the beginning and asked to submit our credentials again. We don’t know what’s the problem, but such issues obviously speak for themselves – SecuredFxSignals should be avoided.
But the technical errors aside, the so-called broker also claims to provide Binary Options trading, which comes as yet another major red flag. Binaries are no longer considered financial instruments and are even prohibited by all regulators around the world. That is to say, it’s always evidence of a scam if a broker offers Binary Options!
Avoid SecuredFxSignals, and if you are really interested in Forex, you should check our lists with MetaTrader4 and MetaTrader5 brokers. The high-rated companies topping the lists are adequately regulated, so you can safely trust your money with them. We endorse MT brokers for a reason. Both platforms are industry leaders known for their stability and the many advanced features provided – automated trading and analytical tools, complex indicators, reliable charting tools, a marketplace with trading apps and so forth. Trading with MetaTrader brokers is always a good idea, but make sure to pick regulated companies only.
SecuredFxSignals Trading Conditions
With no platform, we cannot talk through real trading conditions, so we’ll only discuss SecuredFxSignals’ claims, which are unverifiable, as you can guess. The alleged asset classes available for trading are Forex, Indices and Commodities.
The trading costs are allegedly low as the EUR/USD spread is said to be 0.7 pips, a rate in line with the industry standards. Put into perspective, a lot traded costs $7, while the typical price is $10 or less (1 pip difference or below).
The trading risks can be high as SecuredFxSignals claims that leverage can reach 1:200, but that’s an unverifiable piece of information, too. Actually, the leverage claims create inconsistencies as US brokers are not allowed to offer more than 1:50 for retail traders. That is to say, 1:200 leverage is proof that SecuredFxSignals cannot be a legit US broker as it suggests to be! That’s a scam!
SecuredFxSignals Deposit/Withdraw Methods And Fees
SecuredFxSignals reveals absolutely nothing about deposits, withdrawals, funding methods or fees. The lack of information about these aspects is a red flag as SecuredFxSignals apparently hides critical information about their services. Now, if you remember, they claimed to be fully transparent, so here we have evidence that they are lying! SecuredFxSignals 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!