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In recent times, we have had a lot of complaints about an offshore ponzi called Fxlatam, it has been brought to our attention that there’s a fraudulent scheme going on there with the aim to steal from investors. The FCA also confirmed in their publication that Fxlatam.net is a scam platform. Just to clear any doubts, Fxlatam.net is a SCAM.

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There is no compensation plan in place at Fxlatam. Brokers typically place a sizeable sum of capital on deposit. The fund ensures that platforms may properly carry out trading operations without wasting customers’ money. It also demonstrates that the organisation can withstand market turbulence.

Trading services for forex, indices, stocks, and cryptocurrencies are provided by Fxlatam. Giving customers the option to spread out their risks is fantastic for the broker. The more trading options you have, the better. The fact that this is a market hoax is our main issue. Only the domain name Fxlatam.com was changed to Fxlatam.net.

Review of the Fxlatam Company

These two brokers are the same; the only changes made were to the website. Scammers never stop operating. They won’t do anything but continue operating under other aliases. We strongly advise traders against providing their contact information to anonymous sites.

This is due to the fact that scammers will utilise the information to call you nonstop. They might pose as account managers who can assist you in getting back what you lost. You are likely to accept their offer in your hour of need. You will regrettably continue to lose money.

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Review of Fxlatam.net

An anonymous platform is Fxlatam. About the originator or account manager, nothing is known. As a result, it is impossible to tell if you are working with professionals. Investors are not given access to any educational resources by the broker. They only include the most recent market news.

Taking care of clients’ demands is crucial. This business is only getting started. They haven’t even turned one yet. This does not serve as a reason for the corporation to withhold historical trading results, though. The least they can do is release the results from the previous several months. It would clarify what to anticipate.

There isn’t much traffic heading toward Fxlatam. Furthermore, we did not get any client feedback when conducting our investigation. Unfortunately, we are unaware of how those who have used them have found them. But since this is a known hoax, you should stay away from the business. It will fail much as Fxlatam.com.

Trading Conditions for Fxlatam

A functional web-based trading platform is available from Fxlatam. Beginners will have little trouble using the UI. Expert traders employing cutting-edge tools won’t waste their time with the entity, though. Most investors utilise the MetaTrader software because it is widely used in the industry.

Competitive aspects are present. Trades between customers are automated. The clients’ success is strongly influenced by the tools, indications, and strong VPS. Investment schemes are unable to influence the software’s trading behaviour. Some platforms on the internet are open to manipulation.

Fxlatam.net Review and Contact Information

Investors are not protected by the company from negative account balances. As a result, you run the risk of losing more money than you put in. Additionally, the venture has not provided adequate information regarding its accounting. The EURUSD currency pair has a 3 pip spread.

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Trading conditions on Fxlatam are terrible. To start a trade, you will have to pay more. Since the opening price for each lot is $10, the price you will pay is $30 more than the going rate. The best brokers provide a 1.5 pip spread. There are legitimate businesses that provide better offers than that cap.

Leverage is stated to be 1:200. Although the cap may appear beneficial, there are more dangers involved the higher the cap. Furthermore, since the organisation asserts to be accredited in the UK, it needs to abide by its regulations. Since the permitted leverage cap is 1:30, this is not the case. You must demonstrate your trading expertise if you desire additional leverage.

Transfer and Deposit

The minimum payment accepted by Fxlatam is $500. Given that the $200 market standard is the average, this is a high price. However, if you have $10 or more, you can find a legitimate broker. Customers are assured by the site that they can deposit cash via a credit card, debit card, e-wallet, or wire transfer.

But it seems like the broker is just deceiving potential customers. Bitcoin is the sole accepted payment method. Compared to conventional payment methods, cryptocurrency transactions are quick and cost less. However, con artists frequently abuse some of the endearing qualities of digital payments.

Cryptography, for instance, respects anonymity. Public access to the sender and recipient’s information is prohibited. The process is also final once payments have been made. The choice is preferable for fraudsters since they wish to misappropriate keep all of the money entering their system. Also unknown to us are the minimum withdrawal amount and associated fees.

Account dormancy is covered by Fxlatam’s policy, but the expected fees are not stated. However, the broker omits mentioning the length of time the terms are in force. Customers can receive bonuses from the organisation. In the UK, these tempting offers are prohibited. You must achieve a 25 times deposit turnover requirement and the bonus before you may withdraw the money. You risk having your money stuck if you don’t do it.

Contact information and customer service

This is an SVG broker, according to the business’s address. On the website, there is a lengthy list of phone numbers. There is also an email address offered. Customers can contact assistance using either of the two methods. You should be aware that when their victims start asking scammers about the whereabouts of their money, they deactivate their phones.

Invest with reputable businesses that recognise the value of openness. Legitimate platforms employ technical assistance. Trade sensibly to obtain the best offers available without jeopardising your security. You require confirmation that your inquiry will be answered promptly.

Regulatory Status of Fxlatam

Located in Saint Vincent and the Grenadines, Fxlatam is a business. Investment platforms are not granted licences by the regional financial regulator. The scammers now consider this to be the perfect location. They do their illicit business fearlessly. However, the organisation asserts that the Financial Conduct Authority (FCA) oversees its operations.

The name of the broker is not in the database of the UK regulatory body. False information is being used by the business to attract additional clients. A significant red flag is when they lie about their validity.

Anything can be said by Fxlatam to increase the audience. To determine whether a plan is valid, we advise customers to visit the website of their regional regulator. Mayfair Trust Company Limited is the venture’s parent company. The company claims to have a licence from Belize’s International Financial Services Commission (IFSCB).

On its website, the Belize regulator uses two names that are similar. Sadly, none of these businesses shares the same licence number as the parent company of Fxlatam. This demonstrates how far an organisation will go to earn your trust. In this system, your money is not secure.

Safety of Funds at Fxlatam

To keep investors’ money secure, a legitimate business partners with a recognised bank. To prevent the broker from misusing the clients’ money, the accounts are divided. Additionally, it speeds up withdrawal requests. Fxlatam is, regrettably, an independent contractor.

The platform’s trading operations are not being monitored by anyone. The broker may also abandon you on the side of the road with no one to help. The authorities are unable to assist in locating unidentified people.

Furthermore, Fxlatam lacks a compensation plan in place. Brokers typically place a sizeable sum of capital on deposit. The fund ensures that platforms may properly carry out trading operations without wasting customers’ money. It also demonstrates that the organisation can withstand market turbulence.

Traders are compensated in the event of insolvency. The terms and conditions of this offshore corporation are subject to change at any time. In the event that they suggest concealed charges, nothing can be done to them. You require reassurance that your money is secure. You shouldn’t put money into dubious schemes that try to entice you with bogus information.

Final Conclusion

An offshore Ponzi scheme is Fxlatam. We’ve covered all the significant drawdowns and reasons to stay away from the broker. You will only receive significant losses from the company. Stay with reputable forex trading firms in the market. You won’t have to risk your safety in order to achieve greater results.

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To recover your money from Fxlatam, consult the asset recovery experts at The Capital Co (www.thecapitalco.net), with an excellent record in fund recovery, your case won’t be an exception. Contact The Capital Co (www.thecapitalco.net) now.