Is ManuFX legit or scam?

By Bh24-231318343, from India, December 6, 2021 at 08:50 AM

This platform i cant make out, is it legit or scam. I am not able to make withdraw now since they ask me to pay personal tax @ 20%

  • Is ManuFX Legit Or Scam?
  • Is ManuFX Legit Or Scam?
Answer: Hi Bh24-231318343,

ManuFx claims to be a subsidiary of ManuFx PLC, authorised and regulated by the Financial Conduct Authority. However, we didn’t find any legal proofs of such statement. There is another regulation mentioned on the website, ManuFx is authorised and regulated by The Securities Commission of the Bahamas. If there is a strong doubt about broker’s UK authorisation, then it is very possible that ManuFX holds offshore Bahamas license. Nevertheless, their tax claim is not the usual practice of reputable and reliable brokers. Unfortunately, it seems like that’s just another way to get more money from the traders.

In any case, we never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.

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