In the financial industry, it’s common to encounter fraudsters who are out to exploit unsuspecting investors. One of the ways scammers use is to establish fake brokerage platforms to lure traders into investing in non-existent financial products or rendering services that do not exist. Uk-Outra-Ranks is one such platform that has become quite popular among traders in the recent past.
Overview
Uk-Outra-Ranks.com is a forex and CFDs broker that claims to be the leading provider of forex online trading services. They claim to offer state-of-the-art trading tools and technologies coupled with a secure and transparent trading environment. The firm purports to have experienced and professional financial experts in their team who provide traders with the necessary support for profitable trading. However, a closer look at Uk-Outra-Ranks.com reveals some worrying issues.
Is Uk-Outra-Ranks.com Regulated?
Lack of regulation is the leading indicator of a potential scam. Regulated brokers are bound by strict rules and regulations that are meant to protect customers’ interests. Uk-Outra-Ranks.com is an unregulated broker. In other words, the company does not fall under any regulatory body, which means it can operate as they wish, even if it means exploiting traders.
Warnings from Financial Regulators
To date, several financial regulators have issued warnings against Uk-Outra-Ranks.com. The Financial Conduct Authority (FCA) of the UK has included Uk-Outra-Ranks.com on its warning list of unregulated companies that are providing financial services or are marketing their services in the UK without the necessary licenses. Other regulators such as the Cyprus Securities and Exchange Commission (CySEC) have also flagged the company and labeled it as an investment scam.
What Currency Pairs Do They Offer?
It claims to offer traders a variety of currency pairs to choose from. However, upon further investigation, it became clear that the number of pairs was limited, and they were not the most competitive. This is typical of scammers who are not interested in providing real trading opportunities to their customers.
Customer Support
The quality of customer support is another crucial aspect of a legitimate brokerage firm. UkOutraRanks.com claims to have a team of professionals who are available 24/7 to respond to traders’ queries. However, this is not always the case. Several customer reviews indicate that the support team is not responsive, and traders are left hanging when they need help the most.
Trading Platform
A credible trading platform is critical for profitable trading. UkOutraRanks.com provides traders with the MT4 trading platform. While MT4 is well regarded as a reliable platform, UkOutraRanks.com’s use of it does not make the platform more credible.
What Do Traders Think About Uk-Outra-Ranks.com?
Traders who have had the misfortune of dealing with UkOutraRanks.com have nothing good to say about the company. Most reviews indicate that the company is a scam and traders who invest money with the firm never recover their investments.
What To Do If You Get Scammed?
If you have already fallen into the trap of UkOutraRanks or any other scam broker, you should immediately contact us to get an immediate solution. We will evaluate your case and will provide you with a free consultation and service recommendations to help you in recovering the lost fund.
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Final Thought
In conclusion, Uk-Outra-Ranks.com is a scam broker that preys on unsuspecting investors. The lack of regulation, limited asset offerings, unresponsive customer support, and the use of the red-flagged MT4 platform are all signs that this company will not provide profitable trading opportunities. If you are looking for a legitimate brokerage firm, do not look any further than reputable and regulated ones. Stay away from Uk-Outra-Ranks.com.
