Read our Firmon review to see if we recommend this broker for trading. Just to clear doubts, this is a firmon.co 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 Firmon 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 Firmon 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.
Firmon Review Conclusions
Making the Firmon 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 Firmon 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 just read your review about Firmon. When I try accessing their website, my password and/or email are not in their data base. I have sent them several emails about it, but no reply back. I did make the minimum deposit into my account with them. The “advisor ” is supposed to call me back this Friday. This will make one week since I funded my account by E`-transfer. after reading your review, I wonder which broker woujld be the best to go with.
I have a problem with them. They say, that in order to withdraw the money I must wait 6-8 weeks. After I said them, that they are scam, they hanged up the phone.
Beware of them. Don’t deposit any money by FIRMON. IT is SCAM!!!!
Hello
I opened an account with firmon.co and paid in now I had 280,000 € wanted 160,000 € nothing happened they all had to be put against the wall I will write more about the scammers
I deposited money with them and because I had limited computer knowledge , they offered to help me with Remote access to my computer.
Didn’t take that person long to find my accounts via on line banking and to convince me to invest more money that would result in an even bigger return.
Thankfully my Financial Institution stopped an e-transfer that I was in the process of sending that would have greatly increased the amount of money that I was being Scammed out of.
I saw several red flags and thought I had done my due diligence before I decided to invest some money.
I have made my Credit Card company aware of my predicament and they may be able to help me get my initial investment refunded.
The on line web site, which is so sophisticated totally blind sided me.
They are a very well planned and well hidden SCAM.
February 7 2022
I too opened a Trading account with Firmon, before I came across THIS warning that they are Scammers. So lesson learned, I’ll likely not see my 284.00 Euro’s/ 359.00 CAD ever again. They are a sad sad bunch. Rachel Marie Willson was the name used by my Financial Advisor, if that helps anyone. Molly Miller is also involved in the SCAM. Also Eric Larsen is involved as well. They are the only 3 names I have to this point. Now, whether they are MADE-UP names as well, is anyone’s guess. But I thought I’d put the name out there. I keep sending emails asking for my money to be credited back to me, but no one responds back.
I opened an account and as I have read I am not alone in having difficulty in getting money out of the system .. Looks like I will try my Credit card company and see if they can help me get back my initial invest. Very professional scam – how anyone can build a business out of scamming people is beyond me..
I initiated an issue though Pay Pal whom I had used to open an account with Firmon. After about 2 weeks, Pay Pal ruled in my favor and I recovered my deposit. I that if you initiate a Charge Back with your Credit Card Company you should also get your money back. Once I had initiated proceedings I got calls from Firmon’s accounting branch. I ignored them as I felt thsy would only continue their scam.
I tried to withdraw funds from my account with Firmon.co my email address and password won’t work now and support wouldn’t get back to me when I tried to withdraw funds. [email protected] was the email address of Thomas (scammer) tried contacting him and no reply. Deposited with Bitcoin and sadly lost thousands (initially looks good and was in this for 6 months before SHTF) my account was increasing and was over $34k supposedly. Many emails, phone calls and Zoom calls with Thomas (could be any random made up person) Give me my money back you bastards!
It is very simple Firmon is total scam, you will never see your money again.
(1/5)