Overview:
Fivoro.com claims to be a leading online Forex and CFD provider that offers access to extensive trading opportunities in financial markets. The platform boasts of offering various trading tools and account types, including demo, standard, and VIP. Fivoro.com has the lowest spreads available in the market and commissions. Traders can access the platform via the web or mobile app. The platform’s marketing strategy is impressive, with claims of high leverage and trading flexibility. However, it’s hard to discern whether these are realistic or just part of a scamming strategy to lure unsuspecting traders.Is Fivoro.com Regulated?
Fivoro.com isn’t regulated by any regulatory body, making it an illegal and fraudulent platform. The lack of regulation means that traders can’t rely on the platform’s legitimacy and credibility. As a trader, it’s best to avoid unregulated brokers as there’s a high chance of losing investments and profits.Warnings from Financial Regulators:
Due to its non-regulatory status, Fivoro.com has received numerous warnings from financial regulators, including the UK’s Financial Conduct Authority(FCA). The FCA has warned traders that Fivoro.com is running an unauthorized and fraudulent brokerage service in the UK. In addition, the ASIC (Australian Securities and Investments Commission) and other global financial regulators have blacklisted the platform due to its constant scamming activities.
What Currency Pairs Do They Offer?
The platform claims to offer traders access to various Forex pairs and CFDs, including popular indices and commodities. However, since the platform isn’t regulated, traders can’t verify whether the financial assets are real or just fake. It’s wise to avoid trading with an unregulated broker since there’s no guarantee of the financial assets’ availability and legitimacy.
Customer Support:
Fivoro.com offers customer support via live chat, email, and phone. However, the customer service team isn’t responsive and lacks adequate knowledge about the trading platform and financial markets. As a result, traders are left stranded, and their queries remain unresolved. Such a lack of support further highlights the platform’s illegitimacy and fraudulent strategy.
Trading Platform:
Fivoro.com claims to have an advanced trading platform that provides real-time updates, live charts, and an easy-to-use interface. However, the platform’s trading software lacks adequate security measures, including SSL encryption, making it vulnerable to cyber-attacks and other fraudulent activities. Furthermore, the platform’s user interface isn’t learner-friendly, making it hard for novice traders to navigate and utilize the trading tools available.
What Do Traders Think About Fivoro.com?
Numerous online reviews indicate that Fivoro.com is a fraudulent platform. Many traders have reported experiencing delays in withdrawals, improper account management, and constant scamming activities. The high number of negative reviews further emphasizes that traders should avoid Fivoro.com at all costs.
What To Do If You Get Scammed?
If you’ve already fallen prey to Fivoro.com’s fraudulent activities, you can take several steps to recover your investments. Firstly, report the fraudulent activities to the regulatory body in your country. Then you can contact us to get a quick solution. We will provide you with a free consultation and service recommendations to help you in recovering the lost fund.
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Final Thought
Fivoro.com isn’t a legitimate broker to invest in or trade with. The platform’s lack of regulation, warnings from regulatory bodies, negative reviews, and constant scamming activities highlight its fraudulent activities. As stated earlier, the decision to choose a reliable broker is critical to traders’ success and profitability. Therefore, traders should consider investing in regulated Forex brokers with transparent trading conditions and a track record of honesty and reliability.
