Forex is a huge market. It appeals to a massive number of people who want to cash in on the vast money-making opportunities. It remains a viable investment for many investors and traders since all you need to start trading is a stable internet connection and the necessary knowledge.
But this huge interest has also attracted scammers and individuals looking to swindle innocent traders. One way to protect yourself against scammers is to read reviews about forex websites, such as this Forex Tools Trader review, before signing up with any of them. In this article, we turn the spotlight on one affiliate site whose operations are shrouded in mystery.
Have you lost your money unfairly? Have you been scammed by Forex Tools Trader or any other forex entity? Schedule a free consultation with us and find out how you can recover it.
Meanwhile, read this Forex Tools Trader review before investing your hard-earned cash with them or following their recommendations.
Forex Tools Trader Review: An Overview
A cursory look at Forex Tools Trader’s homepage shows that it helps traders with forex, bonds, and cryptocurrencies such as Bitcoin. It contains a well of helpful information, reviews, investment tips, among other valuable pieces of insights for traders.
The site is available in five languages: English, Polish, German, Italian, and Spanish. Overall, it exudes a confident, international appeal which is the mark of any successful forex broker. However, as the common phrase goes, the devil is in the details.
As you begin to get deeper into the website and towards signing up for a possible trading account, you’ll begin to notice a few red flags.
Here are a few suspicious details:
When you click on “Start Trading”, you get a site with fake celebrity endorsements
The “Start Trading” page is, of course, where they’ll want you to wind up as you begin your trading journey. However, clicking on the link immediately redirects you to another promotional website where you watch a short video with glowing ‘testimonials”.
You’ll want to have earplugs on hand for all the alarm bells that will start going off as you watch the introductory video.
The promo video shows powerful and rich societal figures such as Lionel Messi, Bill Gates, Elon Musk, Snoop Dog, and John McAfee, who have supposedly invested in the ‘profit revolution’ you are about to join.
There’s a subtle and highly suspicious use of the celebrities’ quotes as endorsements. But they are fake endorsements.
This is an overzealous attempt at social proofing rather than true testimonials of people who’ve actually used the site. They are mostly celebrities who have invested in Bitcoin. It’s the equivalent of saying, “We sell cake, and here’s a list of celebrities you know who absolutely love cake.”
Forex Tools Trader recommends Money-Back.com, a well-known scam fund recovery company
On August 27, 2020, Forex Tools Trader posted a glowing review of Money-back.com, which was a full-scale endorsement of the recovery company.
However, Money-Back.com is a scam fund recovery company. It will not help you to get your money back.
The fact that Forex Tools Trader would endorse such a company raises a major red flag. It’s a sign of how they are likely to deal with your investment once you sign up with them.
A Misleading Homepage Menu
A quick look at Forex Tools Trader’s homepage menu shows various trading options and services (Forex, Crypto, Brokers, Trading, Investments, etc.). The links appear to direct you to the specific options where you’d expect to get more details or just general information.
However, when you click on the links, they only show you a collation of blog articles relating to the topics. They are tips and news rather than direct links to the specific offerings.
For instance, when you click on the ‘Investments’ tab, all you get are a few articles about relevant investment news worldwide. The same applies when you click on the ‘Crypto’ and ‘Forex’ tabs.
The design of the site is misleading, which is a red flag. The menu creates an impression that the company provides a wide range of trading and investment options when in effect, the aim is to get a trader to sign up, deposit money, and start trading.
No Company Info
There are scant details about Forex Tools Trader on its official website. If you wanted to get more information about the company, i.e., offices, licensing details, registration, etc., then you would have run into a dead end.
*Note that a regulated entity can still scam you.
Most legit forex entities tend to be more transparent and share more details about the company. Many scammers provide either wrong or hazy details about their companies for the obvious reason that a quick verification could reveal their true identities.
We can conduct a broker check for you if you feel that a trading company has wronged you or you have identified a broker and you are doing some due diligence. Simply fill out a quick form, and we will get back to you within 24 hours with all the information.
Trading is hard. There are scammers in the forex market ready to separate you from your money unfairly at the first opportunity. Even companies that purport to help traders recover their money still go ahead and scam them.
This Forex Tools Trader review shows you all the crazy red flags. Fake celebrity endorsements. Desperate attempts at social proofing. Poor overall design. Mysterious company operations. Forex Tools Trader reeks of a scam from a mile away.
Have you lost money with Forex Tools Trader or any of their recommendations? There’s hope. Schedule a consultation with us today. We can help you recover it. And you may qualify for our unique no-win-no-fee offering.