Read our True FX Markets review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a truefxmarkets.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 True FX 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 True FX 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.
True FX Markets Review Conclusions
Making the True FX 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 True FX 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.
They are not what they say they are. This is a scam company run by con artists. Please do not make the mistake of investing your well-earned money on these scums of the earth. They are dishonest cheats and liars. Keep away from these guys, look for genuine companies out there. A big thumbs down for this dishonest review too!
They will be very friendly with constant phone calls until the time you need your money…then they go silent and if they contact you, they’re very rude.
Karma will get you guys at TrueFx Markets. Police are involved. You wait!
They are crooks. They have taken USD 20,000.00 from me o 6 month’s fixed term deposit. By the time term deposit expired I had in account 38,466.00. I requested to close account but request button didn’t work. Message came up to contact account manager which I did but he was silent. No replies, no money, nothing. If I had the law in my hand, I would lock them up forever. My message to you guys out there is to stay away from truefx markets as they are thieves and I don’t understand how can they get away with it.
BEWARE OF THIS COMPANY TRUE FX MARKETS… WE BUILT UP A RELATIONSHIP FOR 6 MONTHS, THEY PRETENDED TO TRADE AND MAKE BIG GAINS WAITED TILL WE PUT IN A HUGE CREDIT OF 96,000 USD AND SUDDENLY DISSAPPEARED, THE PLATFORM IS NOT TRUE… THEY DISSAPREARED AFTER THE BIG DEPOSIT WAS PUT IN AND A GUY BY THE NAME OF MICHAEL EXPLAINED THAT THE PREVIOUS CR0OK THAT PRETENDED TO BE A TRADER WAS FIGHTING FOR HIS LIFE, YOU CANNOT STOP THERE MADE BELIEVE TRADES, YOU CANNOT WITHDRAW THEY ARE JUST LIARS… I LEAVE THIS TO THE AUTHORITES TO CATCH AND WILL NOT STOP TILL WE SEE THEM BEHIND BARS… THE MENTAL ANGIUSH THEY HAVE CAUSED IN MY HOUSE IN HORRIFIC… DO NOT WHAT SO EVER BE FOOLED BY THEM LIKE WE WERE
Tip for consumers:
DONT NOT GO ANYWHERE NEAR THESE PACK OF SCAMMERS
There platform is a fake platform, they create loss trades and leave you with a big fat 0
and for anyone that has been scammed by TrueFXMarkets.com they start of with the deposit 250 usd show you through to gaining trades and extra money and stay with you for months calling you all the time, pay attention you can never call them, they ring on all sorts of different numbers, but there end result is to get as much as they can get you to put your deposit through a Binance Account and they move it quickly to another wallet…….
True fx Markets are not who they say they are, they are scammers and will take all your money and leave you high and dry. Keep away from them and all there rubbish excuses, they are only ringing you to simply scam you, dont get caught up like we did. They promise you great returns and then run away with your money. They are nothing more than Scums of the Earth that no doubt have caused many people around the world feeling the way I do.
Yes they certainly are scammers