Read our Speedy Exchange review to see if we recommend this broker for trading. Just to clear doubts, this is a speedyexchange.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 Speedy Exchange 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 Speedy Exchange 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.
Speedy Exchange Review Conclusions
Making the Speedy Exchange 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 Speedy Exchange 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.
I have an account with them and was advised to deposit the minimum amount then after a few weeks make a withdrawal just to check out the process and confirm that it does in fact work. I did this and the growth was good in the 4 weeks so I decided to try and do a withdrawal. The withdrawal was approved and showed it was out of my trading account however it has never reached my bank to this day. That was 2 months ago. I have been sending them emails, messages and even tried contacting them on their contact form on their website. The amount was only $310 USD but that could have very easily been $10k? I read on another sites someone else had the same issue with them. Even the once friendly broker blocked my wattsapp number because he can’t say where the money is. The support team is non existent, get absolutely no response from them???? Who would invest a large amount with these sharks if you can’t get your money out???? We disappointed and frustrated 😠
Speedy exchange where your money is exchanged for faith, hope but no charity which is pocketed by Speedy Scammers. I was foolish enough to believe the spin which was shown to be too good to be true and so it turned out. The money I invested $US 250 soon became $US 680. But there was a catch “See the incredible return invest another $US10,000 and see the profits multiply”. That was wonderful, but before I did so I requested only $US 300 out of the fabulous profits I had made, only to be told “Oh you can’t have any profits, they are exposed”. It appears that the only thing exposed at that juncture was the scam that this whole enterprise was about. Beware Punters!
Good morning,
Would someone from speedyexchange call me back urgently on my mobile which is 0481 455 537. I am one the investor who have invested with the Company and my account is blocked after i have reentered my password .
I’ve only just seen this and here I am thinking that the money I sent last year which would be about AUS$2000.
I’ll have to get my other diary where I have all my notes & correspondence with these people. They tried regularly at a stage to get me to invest more but I stuck at above amount and they have since ceased to contact me at all. After seeing your explanation, I said, I’ve been duped. Please allow me to get back to you to get my notes as I’m using a computer from the library in Sydney.
**********IT’S A SCAM************ I had three different brokers, all wanting me to put more money in. I invested only $400 Aust Dollars, no more a one off. The last broker, so call broker, turned my $400 into $7k in a matter of a few months Nov 21 to Jan 22. First red flag. I wanted to take a small profit of $2000. The withdrawal was pending for weeks. Second red flag. He said I need to pay a fee for the $2k to be released. Lots of excuses. Third red flag. Then he turned $7k into $583k in a day, Fourth red flag. What a joke. I just wanted a withdrawal for only $2k. He could use the $581k for trading. He said I would need to pay the Blockchain 10% fee $58k to receive my $583k. Fifth red flag. Speedy Exchange been reported as a scam. DON’T USE SPEEDY EXCHANGE THEY ARE A SCAM.
Yes so called Mike Valentine of Speedy Exchange is an ass wipe and is a damn scam 101%
I have paid them $250 usd in just 4 weeks went up to $950 I wanted to withdraw $250.still to this day no funds they are ignoring me, they were calling me everyday saying I need to pay at least $30k
Imagine if I did pay that I would die of a heart attack because of the pain.
Speedy Exchange
Company Address 161 Marsh Wall, London E14 9SJ, UK
Phone AU: +61280155271
Tried to contact no answer
They are fraudsters
Bunch of unscrupulous thieves, I tried to take my $250 usd out and they refused, money is still in my account and now they totally ignore my calls, texts and emails. Bunch of thieves, stay away from them, do not give them 1 cent
Help I just want my money back hoe am I to do this
I have profit of 7000 and now after learning this im locked out of my acc total scam and I was the òne who made profit so disappointed in the outcome as I have been waiting to withdraw for about a year how could they do this