RaiseFX is suspected to be a fraudulent broker, which is why we have created the RaiseFX Review to alert those seeking a trustworthy FX broker. It is crucial to raise awareness among investors and traders regarding the legitimacy of all types of brokers, regulated forex brokers, forex trading platforms, Forex brokers, crypto brokers, and others. In this RaiseFX review, we will talk about the reasons why RaiseFX is listed among the fraudulent brokers 2024 list by Fraud Complaints and guide how victims of RaiseFX can reclaim their lost funds.
Basic Details for RaiseFX
Website: https://raisefx.com/
Website Availability: YES
Official Address: NA
Regulation: Unregulated
Warned By: Securities Commission (Malaysia)
Domain Status:
Facts that determine RaiseFX is a scam broker.
Over 400 financial instruments, including forex, indices, cryptocurrencies, commodities, and share CFDs, are available through RaiseFX, which is managed by RaiseGroup LLP in Kazakhstan. With varying spreads starting at 0.0 pip, it offers leverage ranging from 1:20 to 1:400. There is no commission on wire transfers, MasterCard, and Visa payments, and a €200 minimum deposit is required. But financial authorities have not regulated RaiseFX and have labeled it as a questionable clone, suggesting that fraud may be involved. Despite RaiseFX’s assertion that it has an FSCA license, these uncertainties cast doubt on the company’s authenticity.
How to find if a Broker is Fraudulent: A Checklist for determining whether a broker is legit or scam.
When evaluating the legitimacy of a broker like RaiseFX, there are several key factors to consider. Review the following overview to make an informed decision. Check if RaiseFX shows the following characteristics or any of them which proves that RaiseFX is a scam.
Regulatory Status and Warnings
The first thing to do is to determine if the platform is registered with the appropriate financial regulatory bodies. Authorities like the ASIC in Australia, the FCA in the UK, the SEC in the US, or comparable agencies in other nations usually oversee legit crypto investment sites and forex brokers list. These authorities ensure the platform works openly and protect investors by following regulations. An important warning indication is when regulations are unclear or nonexistent.
If a broker has received warnings from regulatory bodies, it is a significant matter of concern and should prompt further investigation before engaging with the platform. Check the RaiseFX regulatory status to confirm its compliance with these standards.
Negative RaiseFX Reviews and Feedback
Look into any RaiseFX complaints or unfavorable RaiseFX reviews that RaiseFX may have received recently, since these may point to possible problems or worries raised by other users. Reviewers should use caution when reading too positive comments, as they could include inaccurate or misleading information. We found several unfavorable evaluations regarding RaiseFX, which strongly implies that this broker has deceived a large number of customers.
Transparency and Information
A legitimate Forex trading brokers, Crypto trading platform or any other should provide complete and transparent information about its services, costs, trading terms, and associated risks. Ensure that RaiseFX is upfront about its ownership, operational methods, and financial disclosures. If the platform is vague about its ownership, and operations, or promises unrealistically high returns with minimal risk, it might be fraudulent. Always read the fine print and fully understand the terms and conditions before investing.
Withdrawal Issues
Check for any reported issues or delays with RaiseFX withdrawal issues. Reputable trading platforms handle withdrawals quickly and without undue waiting times. It is a serious warning flag if customers often report issues with money withdrawal, such as prolonged processing periods, excessive costs, or complete denial of withdrawal requests. Before investing bigger sums of money, always try the withdrawal procedure with a smaller amount.
How to Claim a Refund from RaiseFX?
If you have sought but failed to recover your money from RaiseFX scam, gather your supporting proof. Keep copies of every correspondence as proof of your payment demands. If they halt or refuse, initiate the chargeback process immediately. Inform the bank about RaiseFX’s suspicious business practices and absence of RaiseFX license.
Because of the inability to charge back, wire transfers are a tough means to recover money. Making a complaint and contacting the authorities are the most effective strategies to escalate the problem. This strategy frequently leads to the reevaluation of refund decisions. If you do not receive your money back , file a detailed fraudulent report and email it to the company, stating that you will send it again. Please contact fraud complaints if you need any assistance for RaiseFX refund.
RaiseFX Review – Conclusion
Based on many factors explained above we have finally concluded that RaiseFX is a fraudulent broker. Do extensive research on any site before investing.
Be aware of schemes like Forex Trading Deceptions, Cryptocurrency Cons, Internet Dating Scams or Romance Fraud, Pump and Dump Tactics, Ponzi Schemes, Investment Deceptions, Fake Trading Platforms, Phishing Attacks, Robo-Advisors Deceptions, and Binary Options Deceptions.
If you have already fallen victim to RaiseFX fraud, take quick steps to recover your money. While the process can be tough, patience and completing the proper steps can improve your chances of receiving your money back from RaiseFX.
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Note: The RaiseFX review is influenced by some existing reviews online and we have created original review based on known facts. We are not responsible for any legal actions taken by any entity favoring RaiseFX company.