Hi, I believe that I been scammed by this company and need more information on them.
Forex Market Income is not a safe broker to trade with. On the website, the broker provides its US address (5895 W Olympic Blvd, Los Angeles, CA 90036, USA), which gave us a good ground for conern.
- First, all brokers located in the USA need to be licensed by the local financial authority – NFA. Read more about NFA. The authority sets quite strict rules and conditions for trading in the country, and brokers with the license are reliable to sign with ( such as OANDA US). Coming back to Forex Market Income, the broker is not regulated in the country, therefore, the services it offers are unreliable and might put your investments at risk. We strongly advise staying away from unregulated brokers.
- The next important issue we unveiled, is that under the provided address there are several other forex brokers registered. One of the brokers is Fnx Trading Capital (www.fnx-trdingcaps.com). Even a short examination reveals that the websites of the two brokers are almost identical. This might mean, that there are two identical brokers, only under different names. This is a common scam in Forex when the same company attracts traders under different names.
- Another important part is that the broker does not mention anything about the withdrawal process. This is quite tricky, as most of the issues traders report with brokers are connected with withdrawals.
- In conclusion, we recommend staying away from Forex Market Income and signing only with reliable brokers with tight regulations from top-tier authorities – FCA, ASIC, CySEC, NFA, and a few others.