Read our Fastearnings247 review to see if this broker is a scam or legit. Just to clear doubts, this is a fastearnings247.com review.
Have the forex market caught your interest? It could be you want to trade cryptocurrencies? No matter which financial market you may want to engage with, you should be aware that the services of a broker are a must. With the popularity of online trading, a number of these have popped up and new ones are also launched on a daily basis.
This means that you will have plenty of options to choose from, but this also comes with a downside. It can be difficult to sort through the choices and this Fastearnings247 review is meant to help you at this stage.
Most people become frustrated because of the choices and end up opting for a brokerage blindly, which can often land them in a hot spot. How? This is because there are scam and fraudulent brokerages operating in the market as well and their goal is to lure as many victims as they can. Do you want to become another statistic? Of course, no one wants to lose their funds to a scam, or shady brokerage and the only way to prevent this is by doing your homework.
Rather than choosing an online broker blindly, you have to go over their offerings with a fine-toothed comb in order to ensure that they are what they claim to be. It is easy for these fraudsters to present a professional front, but you have to find what lies behind it in order to know you are making the right decision. The same should be done in the case of Fastearnings247, which poses as a legitimate and reliable ECN brokerage.
The broker claims to have 1 million clients worldwide, but anything that Fastearnings247 claims is difficult to accept because its website is lacking in a great deal of important information. If you are unsure of whether to opt for Fastearnings247 or not, here are some reasons why you should avoid it altogether.
False claims of licensing and regulation
What is the easiest way to avoid a fraudulent broker? Everyone will tell you that opting for a licensed and regulated company is the best way for you to achieve this goal. These companies are subject to laws and policies that are meant to protect consumers and can help you enjoy safety of funds and transparent and fair services.
Moreover, statistics show that unlicensed and unregulated platforms are usually behind the scams that happen, so it is best to avoid those.
Where does Fastearnings247 come in? On its website, the broker claims to be owned and operated by a company called Fastearnings247 Market Limited, which is based in Nevis. This does not inspire any confidence because it is an offshore jurisdiction and these are not exactly known for their regulation.
Secondly, you will also find that Fastearnings247 claims to be a member of the Financial Commission (FinaCom). It is an external dispute organization operating out of Hong Kong and not actually a regulatory authority. Even if it was, you will find that Fastearnings247 is lying about its membership because it cannot be found in its online register. How can you trust a broker with your money when it is lying about where it is based and regulated?
Lack of legal documentation
When you sign up with a broker, you will be asked to agree with their Terms and Conditions. These are legal documents that outline the policies that you have to comply with and also provide other details like the cost the broker will charge. Essentially, these legal documents establish your relationship with the broker, which means it is essential to go through them before signing up.
It also helps you ensure that there will be no surprises later on. But, you can scour through the Fastearnings247 website and not find any sort of legal documentation available. There are no Terms and Conditions and no Client Agreement available. This means that the brokerage expects you to agree with their terms blindly and they can exploit you later on. It is yet another reason for you to steer clear of Fastearnings247.
No trading software
One of the biggest claims that Fastearnings247 makes is the offer of the MT4 and the MT5 trading platforms. These are recognized as industry standard platforms because of their technology and tools. A web trader is also advertised in order to cater to all kinds of traders. All of this sounds quite impressive, only if it were true.
When you check the Fastearnings247 website, you will not find a downloadable version of the MT4, or the MT5 at all. Even after you register a trading account, there is absolutely no software available. The only thing you do find is a Trading View chart that does not offer you any trading functionality. It only boasts third-party quotes and nothing more and you can easily find it online, without having to sign up with Fastearnings247 at all.
This makes Fastearnings247 a pure scam because without a trading software, there can be no trading and this means that the broker will not be able to fulfill the function it is created for.
Bitcoin payments only
Bitcoin is the leading cryptocurrency in the world and is being used for payment purposes. Many online brokers are also offering bitcoin payments to facilitate their clients. This all sounds appealing, only when there are other payment options available as well. But, you will come to know that Fastearnings247 only offers bitcoin payments and nothing more.
This is definitely something to worry about because only scammers give you this option alone. After all, it is one that works in their favor, given that bitcoin payments are final and not eligible for a chargeback. You cannot get a refund from Fastearnings247 in case of a problem because deposits are made in bitcoin. Moreover, they also offer the broker anonymity, which is something that scammers count on.
You will find that these reasons are quite convincing for you to avoid Fastearnings247 when you are looking for an online broker for trading purposes.