To find out if we recommend 5Markets for trading, read our review. This is a 5Markets (5markets.io 5markets.co) review by FinRecoveryInc.
Who is 5Markets?
After prior investigation of 5Markets, their address – (First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, Saint Vincent and the Grenadines & Tower Hill A100 UK, London SE32R18, United Kingdom) was able to reveal that they are not governed by any regulator. That is a RED FLAG and enough reason to avoid them.
A closer look at 5Markets website – (5markets.io 5markets.co), shows a striking similarity with websites that offer “Automated trading software, HYIP software, unregulated trading software and insecure protocol software”. This is another RED FLAG, because these types of websites are notorious for fraudulent schemes.
Is your money safe?
5Markets is simply another unregulated financial institution that is highly likely to get away with your hard earned money because there is no regulating agency to hold them accountable.
How does 5Markets Scam work?
Brokers that are not regulated mostly operate in the following manner. They will reach out to people through various means like phone calls, or social media; to persuade them to make the initial minimum deposit.
After making the initial deposit, victims are transferred to a more sophisticated scammer known as a “retention agent”, who takes more money from unsuspecting victims.
How to withdraw funds from 5Markets?
5Markets will delay the process for months if you want to withdraw your funds, regardless of whether you have profits or not. If they delay it for a few months, you might no longer be able to get your money back or even file a charge back. Your money might be forever lost without professional help.
How can you recover your money from 5Markets?
If you have already deposited money with 5Markets, and you have been unable to make withdrawals; which is very likely, don’t worry, there may be a way or two to get your money back.
But first, you must have evidence of the scam as proof that you haven’t been able to make a withdrawal.
What you should do?
File a charge back immediately to get your money back, mostly because it is also the most damaging to them. To emphasize, the most important consequence of this is to server their relationship with payment providers and secure a refund.
We can assist you in preparing your charge back case. We will help you present your case to your bank, credit card company, and cryptocurrency merchants.
You can reach out to us through live chat, contact form or firstname.lastname@example.org
5Markets Review Conclusions
BEWARE OF THIS SCAM! It is
Unregulated, Blacklisted, Offshore
by – CNMV, CONSOB, SFC .
This company has no financial regulatory overview, so it is HIGHLY likely that they make away with your money. And with this in mind, you may not be able to make withdrawal without professional assistance. In conclusion, always make sure to do an extensive research before investing. If you have any questions or need assistance with the withdrawal process, please contact our customer support team. Contact us at email@example.com
ALWAYS TRADE WITH A REGULATED BROKER