Want to Trade with 5Markets? Read This First!
If you’ve come across 5Markets, your first question may be “Which 5 markets?” But seriously, this is a broker we’ve heard a lot about–but nothing good. This broker is based in St. Vincent and the Grenadines–a hot bed of unregulated brokers. Scammers go there to get fake licenses so they can claim that they are regulated when they aren’t. This broker has no license, has received multiple complaints by regulators and awful trading conditions.
Is 5 Markets a Scam or Legitimate?
We don’t wonder that 5Markets isn’t licensed, since it breaks every rules brokers should follow. It has a second-rate web-based platform, a high minimum deposit, high pips and unfair fees for withdrawals. You shouldn’t have to pay a bundle just to manage your account, but tell that to 5Markets. In addition, 5Markets has been flagged by the SFC of Hong Kong and British Columbia’s BCSC. If regulators have a problem with 5Markets, so should you.
We Found Problems with 5Markets:
- Not regulated
- Flagged by the SFC and BCSC
- Negative reviews
- No transparency.
- No contact information
What You Should Do If You Have an Account with 5Markets?
You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!