Read our Spx Markets review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a spxmarkets.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 Spx 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.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
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 Spx 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. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Spx Markets Review Conclusions
Making the Spx 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 Spx 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] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Hi I would appreciate some feedback regarding this company SPX MARKETING as I think we have been scammed with them, and any possible way to get our money back and stop this happening to any one else i have done a chargeback with the credit card account and informed theFCA. Is there anything else I can do?
I have also been scammed by SPX Markets. They are refusing to process my withdrawals and keep coming up with excuses. They keep saying that about 2billion trades are needed before I can withdraw. In the UK this should be reported to the Police at Action Fraud. i am looking to do this. There are also some law firms which claim to be able to get your money back, but I suspect they will want a hefty cut of any money they get returned!
I have been scammed by SPX markets. They start off working on you, get your trust to deposit money then show you unrealistic profits so you deposit more money. I have contacted the banks and action fraud UK to stop this behaviour. They are refusing to let me withdraw any money and have gone silent on me when I did ask for some of my money back. They are not regulated in the UK and the London address on their website is fake. No such business is registered there. They are fraudsters operating out of Estonia and I suspect they are doing this under the guise of other company names too. I have lost all my money and these criminals shouldn’t be allowed to get away with this. The more people put reviews on about them the more they will be exposed to the true scammers they actually are!
Hi Maddy,
Do you have the names of the people you were dealing with? How and where did you deposit your money and were any profits realised? I bee been asking for my money back for over 6 weeks now and they keep delaying and making excuses. Although, my account manager still rings me every day and he has assured me that I will get my money back. At the moment I cant chase as he set off a couple of trades and they are in red, he has said we need to wait until the market moves in our direction and then we will see…
100% SCAMMERS
JUST STOP UNSWER THE PHONE AND EMAIL AFTER WITHDRAWAL REQUEST WAS MADE.
AVOID!!!
Definitely a scam, uses a fake address and steals customers money
FRAUD! Do your research, which now is very useful, not like few months ago!
Latest UPDATE People!
We finding so much information, Vanuatu reg nr or should i say 2 different Vanuatu registrations , check home page and terms and conditions you will find 2 different registrations. They based/registered or was registered in Estonia, person Russian name who actually on the list of criminals!!!
We building huge case for Cyber News- its so much interesting crime over here
This is BIGGEST Scam- Ponzi Scheme. At first they were so nice, even allowed to withdraw small amounts of 1-2K euros. Then when i made SPX managers life difficult, as i was asking so many questions, they kept transferring me to different person, who made best “deals” and constantly asked for more money. After few deals i asked to withdraw small amount from almost 1million euros in my account, they came up with another deal, but because i told them i won’t invest anymore as i dont have money, they promised that they will cover for us- by giving Bonus of 172K , which they said i dont have to pay for 1-2years, and i can withdraw money straight away after this deal…. Ha ha ha how naive i was, well not really as i have all voice recordings of SPX Alex wealth manager, admitting he was wrong and then he shouted at us: ” so what, sue me”
Well, we might dont need to spend money in the court, we have Social Media Cyber News writing big article, just wait you scammers. Also VFSC opened case after 100 emails sent to them. Dont give up, dont let these scammers to threaten you, that you can’t win.
Best you can do, stop trusting them, their friendship and jokes- only to make you feel comfortable.
But if you already scammed make sure you have all evidence, messages, voice records, dont transfer money via crypto, which is their preferred method, Bank only if you want some money back.
SAD I CANT ADD PHOTOS OF CONVERSATIONS WITH THEM, AS IT WOULD SHOW REALITY OF THIS FRAUD
Mobtrader
Spxmarkets is a scam. No longer have a server that you can sign into your account. James Novak is the person I dealt with.
1. I invested money into SPX Markets at the beginning of the year, then increased my investment after 2 months. They (the account manager) applies much pressure in getting you to invest more money (and this is all that they are interested in you to do), however:
based upon my experience they mis-lead you into making recovery investments which are totally high risk and incorrect in accordance with the market, by stating that they have ‘insider knowledge’ I lost 100% of my investment following this trade collapse, however they then extend ‘bonus’ amounts following promises of fund recovery for another smaller investment. The fund never recovered.
2. When the account does badly following a mistake from the account manager, you get transferred to another account manager, who in my case went down a completely different track looking at buying only crypto currencies.
3. As per other traders, they get you to transfer funds via WhatsApp / phone to transfer money into unusual account names, such as “Pure Wallet” and then ask you to to pictures of the transaction from your online statement as proof.
4. As per other traders, to get money out of SPX Markets is near impossible; they will make promises that you would be able to withdraw money from the account after x weeks, however following contrived direction to a bad investment, they will make sure that your balance suffers before this (as in my case).
5. These people are unregulated, based out of Estonia and the ONLY objective they have is to take your money. This outfit is a total scam!
Scammers 100% they are indeed, stay away from them, as all the reviews said they started chasing you by phone kindly, Emily was my account advisor always start with 250$ and showed you it can be raising if you add more money, give them in total 3k showed me raised to 9k they send me 100$ to keep me with them but after I asked them to withdraw 2k they change the advisor James Novak, when ask where’s the other one he said she has covid, he enter the scene starting with Ok ok you’ll withdraw your money just try to invest more….after that nothing no email no phone even the website was shutdown for few days. Anyway stay faraway from them and hopefully and for sure they will pay for it soon or later
Emil Lee & James Novak
Names of representatives scammers
we can add another one Tony Jameson
I am being scammed by SPX market. I just knew that there are several people who so called they are financial advisor. Their names is Emily Lee , Nikola Petrov , Bill Edwards . They separately scammed me to do investment and through e – transfer method I sent it to Gigadat([email protected]) and Satoshiportal ( [email protected]) . The transfer@satoshiportal is what I found today is Bullbitcoin company . It means the guy ( so- called Financial advisor, Bill Edwards) he temptated me to use this platform and stole me money to his personal pocket ) . And this guy also said I have to pay capital gain tax for CRA . He used this excuse and drew my attention to trust him what I E- transfer $5500 totally from my bank Acct .
They always saying that buying Bitcoin can increase a lot profit in a short moment and showed me the chart by email . Also, they also delay your withdrawal when you requested to get money back . Till today , I just know that Bullbitcoin company told me the truth that SPX market is a scammer that can be found in Google.
The guy , Bill Edwards pretends he is so concerned about your money growth and open whatapp for your convenience to ask and to be answered. Till I found out he is a big lair , he ignored my questions and doesn’t reply me at all . In this case , I really hope I can get all money back since I put money to SPX Market in year 2020.
I really hope everyone of you must check review and comment first and not wanna fall in a trap .all we become their Victim .
My experience, I only has one time that have a chance to get back money with very little . Please don’t trust their words . They will only Beauty what they do for your investment. But at the result, they are none .
Hi Greg, glad you got your investment back. Who did you say you engaged in order to do so? SPX are refusing to let me withdraw my money unless I pay THEM Capital Gains Tax!! It is another ruse to extort more money.
These scammers and liars should also be added to the list. I hope there is a wider “Wall of shame” that they can be visible on. Anyway, here are the names of the people I had dealings with: Alex Kinley; Max Wilson; Anna Mayer; Daniel Green; Bill Edwards. Edwards is a particularly nasty person, he rang me to say that I could withdraw all of my money if I paid over £12k in Capital Gains Tax! He would not listen when I said that if any tax was due, it was due to my Country’s Government and not SPX. He then got very aggressive and then accused ME of threatening his life! How they are continuing to operate is a mystery.
Pervez- sofiaduncan81@ protonmail.com
Scammers 100% they are true SCAMMERS
Scammers 100% they are true SCAMMERS, stay away from them, as all the reviews said they started chasing you by phone kindly, Emily was my account advisor always start with 250$ and showed you it can be raising if you add more money, give them in total 3k showed me raised to 9k they send me 100$ to keep me with them but after I asked them to withdraw 2k they change the advisor James Novak, when ask where’s the other one he said she has covid, he enters the scene starting with Ok ok you’ll withdraw your money just try to invest more….after that nothing no email no phone even the website was shut down for few days. Anyway, stay far away from them and hope and for sure they will pay for it soon or later.
Names of scammers representatives:
Emil Lee & James Novak & Tony Jameson
Hi. I am a victim of above spam brokers and they robbed me more than CAD 40,000.00. They’ve given me a software where apparently I have lots of profits equal to at least EUR 35,000..00
When I made my first withdrawal request they contact me and asked me to pay capital gain tax for %50 of the earnings. I made 3 withdrawal again but I did not received any reply to.
Can you please help me with this?
Was talking to the cops in canada and they traced a bank wire to these guys. They said it went to Estonia. In case any one is wondering.
A financial reward. Taylor Reev, Billy J Edwards, Jeremy Hofstedder, Alex Kinley. Any friend,past associate, or anyone knowing where any of these people are located and how to physically be in touch with them or there family members. Might not be there real names.
You can add Max Wilson (Canadian) and Anna Mayers to the list of liars and thieves at SPX Markets. I have Max Wilson’s photo from his Linkedin page.
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