Read our Needful Markets review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a needfulmarkets.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Needful Markets is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Needful Markets in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.
Needful Markets Review Conclusions
Making the Needful Markets review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Needful Markets review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected]
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Its a scam. Pls dont fall into this.
Scammed by NeedfulMarkets
I have been scammed by NEEDFUL MARKETS.
Messrs Thomas Wilson and Trevor Jackson encourage you to invest more every time. Recording your trading account is blocked with various excuses. DON’T GO WITH NEEDFULMARKETS, YOU’RE ALWAYS LOSING YOUR INVESTED MONEY.
Ed Epskamp
ed epskamp 05/28/2020
Nedful market are fraudsters do not trade with them it’s a scam I lost all my money and money for bonuses.
Needfularkets is a scam.
Please don’t fall for this scam, if the names Jason Shelby or Alex Kovach sound familiar to you then be aware. These people are experts in gaining your trust and trying to get you to invest more and more money. In the end you will never be able to collect a single cent from your account unless you pay some kind of commission on profit before they can withdraw money for you. Be careful with wiring money to accounts like PUMP IT UP LTD or MARIS ANCEVS.
Needfularkets is a scam.
Please don’t fall for this scam, if the names Jason Shelby or Alex Kovach sound familiar to you then be aware. These people are experts in gaining your trust and trying to get you to invest more and more money. In the end you will never be able to collect a single cent from your account unless you pay some kind of commission on profit before they can withdraw money for you. Be careful with wiring money to accounts like PUMP IT UP LTD or MARIS ANCEVS.
Please do not use Needful Markets. They are a total scam.I know from experience.I have lost a very large amount of money that I was saving for my family’s future.Now that is all gone money and future.If you see the name Luke Owens,Raphael Cassatt or Maris Ancevs beware avoid them like the plague as I said it’s a total scam.
Total scam!!!
they keep asking for money and you cant withdraw!
Here is the last contact i had with them:
Them:
The issue at hand is Cash Flow (a short way of saying “benefit of opportunity to influence the market – provided by prolonged continuous exposure of the external capital/client’s funds to at least one asset of interest”), namely lack of aforementioned Cash Flow associated with your account.
In order for us to solve this issue swiftly without stressing your financial situation too much I already petitioned the “Delayed Assets” Committee to allow your account access to one of the withheld trading orders of the company.
A little context – whenever one of the prominent assets is expected to climb/spike (rapidly grow in price) a stock of such asset is secured by a number of corresponding trading orders, which are subsequently closed to secure the profits.
Since some of the assets like BTC, TSLA, GME, ETH rose in price quite spectacularly, only a portion of the trading orders were closed for profits – a few suitable ones are still open. It is a standard practice as it allows us to support the asset, diversify the funds of the company and provide additional flexibility in situations like the one we currently find ourselves in.
In short: I can arrange for your balance to substitute for the company funds in one of such orders. Of course, since you are essentially buying into an already successful order you are going to receive only a fraction of the profits, however, it will solve the issue with Cash Flow for you and for me it will prevent a great deal of paperwork.
My assistant found two most affordable categories, as follows:
1. Orders for 10 ETH coins open on the 30th of August 2020 for 402.90 EUR each, for a total of 4,029.00 EUR, which considering your balance of 2,868.83 EUR will require 1,160.17 EUR to be added to your account to support the trading order.
2. Orders for 100 ETH coins open on the 16th of March 2020 for 107.90 EUR each, for a total of 10,790.00 EUR, which considering your balance of 2,868.83 EUR will require 7,921.17 EUR to be added to your account to support the trading order.
For your consideration, your profits are going to be 10% of the difference between initial value of the order and current value of the order for the first category and 5% for the second category.
(new_price*quantity-old_price*quantity )*0.1 for the first one, and
(new_price*quantity-old_price*quantity )*0.05 for the second one;
If you require any clarifications – feel free to contact me.
Me:
Mr White,
I just had the time to read your email properly.
Again your company asks for money from me in order to withdraw my funds.
The facts are plain and simple
I have an account on your platform and I should be able to withdraw my money at any time except when there are open trades.
I never made any trades myself and always asked for the advice of my personal agent Mr Aros.
If any mistakes have happened so far are not my mistake but your employers.
In short
I have deposited
0.04293405 BTC with 0.00003746 BTC fee at Price per coin €18,490.92 to 17UnFKSVVYtB75igGtfFAPvcdz6ErFLGnN
0.023848 BTC with 0.00013433 BTC fee at Price per coin €22,082 to 1KAZfz7So1X3bWSqSBMTh7TZd7cJYa6ZXA
0.017733 BTC with 0.00018958 BTC fee at Price per coin €28,142 to 1N1jPi38Vb6fmVWcu5311uKChfX6qGQS2B
in total 0.08451505 BTC
Mr Aros as my personal agent othorized my account closure and payment of 0.124 BTC.
I demand from you to find a solution to get my BTC back by the end of the week.
Paying more money is not an option.
Them:
I see, in that case while you are with your lawyer tell him to prepare a lawsuit against our company.
My apologies for my brief manner, but if you decided to approach it this way I don’t think you are going to settle on my offer.
Which means I will have to deal with our bureaucrats anyway, therefore, I am no longer motivated to supervise this situation personally.
After your lawyer files a lawsuit, our Legal will pick up communications.
Have a nice evening.
Me:
You will have my lawsuit shortly and also i will make sure everyone on social media will know what company you are and how you cheat people out of their money with all the details.
I will make public all the emails I have from you and expose you to everyone out there so that no one ever is fooled by you and your company…
Have also a nice evening
Them:
Appreciate your ambition.
The conclusions is yours…
Scammed! I feel like such a fool! Would be happy just to get my US$500 but I know it’s not going to happen.
Neefulmarkets are a pile of sucking parasites in financial and trading markets who are filling up their capital with peoples investment and never let you withdraw any of your investment. So whenever they contact you just shit on them and tell everybody about them. The thing is that where are the authorities who can see what this group is doing but still let continue function in serious internet market. They are a mostly Londoner with base in Thailand and registered in Balkan countrys. So the authorities can start already in London.