The difficulty with finding out whether a Forex trading platform is a scam or not is that, on the surface, the majority look the part. You can get caught up in the moment, get excited and forget the importance of doing your due diligence. Even seasoned traders need to be aware of what to look out for when it comes to choosing legitimate brokers before investing their hard-earned money on any platform. This is where we can help, applying our expert wealth recovery services to help UK investors get their money back. Here, we are going to discuss the platform F1 Markets, showing you what signs to look for as we explore why F1 Markets can be a scam. Already lost money to them? Don’t worry, get in touch and our experts will be able to help recover your funds.
Let us break it down: Who are F1 Markets?
F1 Markets Limited is a Cyprus-based Investment firm that is regulated by the Cyprus Securities and Exchange Commission (CySEC). They have the authority to practise in countries outside of the European Union, including Egypt, Qatar and Switzerland, provided they comply with the regulations of those countries. Being regulated by CySEC means they are able to offer the following investment and ancillary services: reception and transmission, execution, safekeeping, and administration, as well as grant credits or loans. They are forbidden from trading in the UK. They trade under the names Investous, Stratton Markets and Europrime.
They do offer a risk disclaimer on their website, stating 70.57% of retail investors lose money through trading with Contract for Differences (CFDs), alerting users that any money they put in trades is at their own peril.
Are F1 Markets a scam company?
The first thing to note is that F1 Markets is forbidden by the Financial Conduct Authority (FCA) to trade in the UK. The reason being is that the FCA has taken action to prevent investment firms based in Cyprus from offering high-risk CFDs (Contracts for Differences) to UK investors. This, along with the warning that F1 Markets display on their website, stating they cannot offer their services in the UK, shows they are a platform to be wary of.
F1 Markets also own the brand Investous, which we have recently confirmed to be a scam broker due to some red flags. These red flags include, activity fees, online customer reviews where people have been advised to stay away from trading with them and have also been told to cease trading within in the UK so as a UK resident, you are not protected under any regulations should you make a trade with both Investous and F1 Markets.
Let us help you
Wondering if you have fallen for a scam carried out by F1 Markets, Investous or any other Forex broker? Wealth Recovery Solicitors will be able help you recover your money. We have a qualified team who can trace the money from when it left your account. We are also able to deliver legal services such as count injunctions and handling complaints. We do all this at your discretion. Confidentiality and transparency are as important to us as they are to our clients, which is why contact you at a time and day suitable for you. To book your consultation today, please call us on 0203 695 9239.