The foreign exchange industry is one of the world’s biggest industries, and it’s still growing every day. Consequently, there are many brokers that are looking to take their piece of the pie. A small portion of them, unfortunately, want to do that illegally. The fact is that it has become quite difficult, especially for new traders, to distinguish legit brokers from the fake ones right away. That’s why we’re here: with our Scam warning articles, we’re trying to help traders avoid bad brokers and recognize the good ones. In this CorrFX Scam Warning article, we decided to talk about a broker that already did some serious damage to many traders. Keep reading and protect yourself from scams!
CorrFX Scam Warning | Deposit Problems
It’s not that common for traders to have problems with depositing their money, but this is exactly what happened to some of CorrFX’s clients. A lot of them tried to deposit the funds into their accounts, but the money simply never got there. The broker’s response was always the same: you or your bank made a mistake during the transaction and we cannot do anything about it. If this had happened to just one client, we could have said that it’s just bad luck. But when you realize that the same thing happened to many people who tried trading here, everything starts to point towards this being a scam. That was the first proof in our CorrFX Scam Warning article. If you would like to read some more interesting stories about this broker, read on!
CorrFX Scam Warning | Withdrawal Troubles
Traders who managed somehow to deposit funds into their accounts weren’t so lucky when they tried to withdraw them. In some cases the broker kept on telling them that they will get their money soon and that the entire process is taking long because of some technical issues. Later, some traders’ accounts were simply deleted, and the broker once again tried to convince them that their accounts would eventually restart and that they will have their money back. Of course, people who got their accounts cancelled were never reimbursed. At this point of CorrFX Scam Warning article we have to mention that in some cases the broker even refused to communicate with their clients. They refused to answer the e-mails they received, so we can definitely conclude they aren’t the good guys.
CorrFX Scam Warning | Conclusion
In the end of our CorrFX Scam Warning article, we can only repeat that you really don’t want to do business with this broker. Many traders have had really bad experiences with them, no matter if they just wanted to deposit or withdraw their money. There were also cases of deleted accounts, and the broker also could not be reached very often. That’s not a partner you want to have by your side in the foreign exchange business. We advise you to stay away from them and to find a more reliable broker right here on our website.