Warning Investors FIATVISIONS – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
Forex and CFD trading can be a lucrative activity for investors who are looking for high returns and diversification. However, it also comes with high risks and challenges, especially when dealing with unregulated and shady brokers. FIATVISIONS is one such broker that has been exposed by multiple regulators for its illegal and unethical practices. In this blog post, we will examine the warnings issued by ASIC, OSC, ASC, and FCA regarding FIATVISIONS and explain why you should avoid this broker at all costs.
Regulation and Compliance:
One of the most important factors to consider when choosing a forex or CFD broker is regulation and compliance. A regulated broker is required to follow certain rules and standards that protect the interests and rights of traders. A regulated broker also has to keep client funds in segregated accounts, provide fair and transparent trading conditions, and submit regular reports to the authorities. FIATVISIONS, on the other hand, is not regulated by any reputable regulator and operates without any oversight or accountability. The broker has been warned by ASIC (Australia), OSC (Ontario), ASC (Alberta), and FCA (UK) for soliciting clients without proper authorization and providing false or misleading information about its services. The regulators have also advised traders to avoid dealing with FIATVISIONS as it may be involved in fraud or manipulation.
Another factor to consider when choosing a forex or CFD broker is customer support. A reliable broker should provide responsive and professional customer support that can assist traders with any issues or queries they may have. A reliable broker should also have multiple channels of communication, such as phone, email, live chat, or social media. FIATVISIONS, on the other hand, has very poor customer support that is hard to reach and unhelpful. The broker does not provide any phone number or physical address on its website and only offers an email address that does not respond to complaints or requests. The broker also does not have any social media presence or online reputation that can indicate its credibility or trustworthiness.
Another factor to consider when choosing a forex or CFD broker is customer reviews. A reputable broker should have positive and authentic customer reviews that reflect its performance and quality of service. A reputable broker should also have a good rating on third-party review platforms, such as Trustpilot or Forex Peace Army. FIATVISIONS, on the other hand, has very negative and fake customer reviews that reveal its scam nature and poor service. The broker has a very low rating on Trustpilot (1.4 out of 5) and Forex Peace Army (1 out of 5) and has received numerous complaints from traders who have lost money or faced difficulties with withdrawals or account verification. The broker also has many fake positive reviews that are written by the same person or use similar language and grammar.
Measures to Avoid Scam Brokerages:
Given the high prevalence of scam brokerages in the forex and CFD industry, it is essential for traders to take some measures to avoid falling victim to them. Some of the measures include:
– Doing thorough research on the background and reputation of the broker before signing up or depositing any money.
– Checking the regulation and license status of the broker with the relevant authorities or websites.
– Reading the terms and conditions of the broker carefully and understanding the fees, charges, bonuses, leverage, spreads, margin requirements, withdrawal policies, etc.
– Testing the customer support of the broker by contacting them via different channels and asking relevant questions.
– Reading the customer reviews of the broker on various platforms and sources and verifying their authenticity.
– Using a demo account or a small amount of money to test the trading platform and conditions of the broker before committing to a larger investment.
– Being wary of any unrealistic or too-good-to-be-true offers or promises from the broker that may indicate a scam.
FIATVISIONS is a scam broker that has been warned by ASIC, OSC, ASC, and FCA for operating without a license and engaging in fraud and manipulation. The broker has many red flags that indicate its illegality and unreliability, such as poor customer support, negative customer reviews, false or misleading information, and lack of regulation and compliance. Traders should avoid dealing with FIATVISIONS and any other similar brokerages that may pose a threat to their funds and security. Traders should also follow some measures to avoid scam brokerages and choose a reputable and regulated broker that can provide a safe and fair trading environment.