Fake Forex Brokers List In Colombia

Forex brokers blacklist in Colombia

Go4Rex

A multitude of users has expressed dissatisfaction with Go4Rex, particularly regarding issues related to withdrawals and unresponsive communication from assigned advisors. One distressed investor narrates an experience of investing $15,000 with the understanding that withdrawals would be seamless. However, the promised accessibility to funds became a protracted ordeal when advisors Lisa Rodrigyez and Caesar abruptly ceased responding to calls, messages, and emails. In an alarming turn, another advisor, Marisol Nieves, allegedly demanded an additional $8,000 for the withdrawal to proceed. This has left investors in distress, seeking resolution for denied access to their funds since September 25.

Go4Rex's operations in Latin America have been harshly criticized, with accusations of scamming naive customers. The broker is flagged as unregulated, and its advertising practices are labeled as misleading. This culmination of issues has led to a resounding 0% recommendation for Go4Rex.

OmegaPro

OmegaPro raises concerns for traders due to its lack of valid regulation. Operating without oversight from recognized financial regulatory authorities, the broker exposes traders to potential risks. Issues may arise in dispute resolution, fund security, and transparency, necessitating caution from those considering trading with OmegaPro.

Users who invested with OmegaPro report frustrations as promised withdrawal timelines are not honored. A case is highlighted where an investor committed $5,000 in March 2022 with an expectation of withdrawal after 16 months. However, complications arose when OmegaPro allegedly moved the funds to Booker Group, resulting in a frozen state. The investor remains halfway, unable to access their funds despite the lapse of the stipulated withdrawal period.

Deriv

Deriv, operating under the name Deriv (FX) Ltd, is flagged as a cloned broker, utilizing the website URL of a legitimate Deriv to confuse traders. The use of established broker names, logos, and websites by cloned brokers poses a significant risk. Traders are enticed with favorable conditions, but once funds are deposited, withdrawal becomes a challenge. Users have reported suspicions of a scam, advising others to refrain from trading with Deriv.

Traders who engaged with Deriv share concerns about suspected fraudulent activities. Despite depositing funds and engaging in trading activities, withdrawal requests are allegedly declined without clear explanations. The absence of support further adds to the skepticism surrounding Deriv.

BingX

BingX faces uncertainness and concerns due to a lack of valid regulatory information, casting doubt on its legitimacy. Users report various issues, including network problems affecting quick order placement and inadequate support. Dissatisfied customers express frustration with the platform, raising questions about its reliability and customer service.

One user recounts their experience trading bitcoin on BingX, initially experiencing profit. However, when attempting to withdraw funds, they encountered challenges. The platform purportedly cited the need for identity verification, a process that, despite repeated submissions, remained unresolved. This frustrating situation further adds to the growing list of concerns regarding BingX.

NinjaTrader

While NinjaTrader claims regulation under the National Futures Association (NFA), a "suspicious clone" status adds a layer of uncertainty. Traders are urged to exercise caution and conduct thorough due diligence. The platform's regulatory credibility is called into question, necessitating careful consideration before engaging in any trading activities.

Several users report challenges with NinjaTrader, specifically about unfulfilled withdrawal requests. Traders claim that their requests were not honored, and NinjaTrader allegedly provided excuses to avoid settlement. The lack of transparency and payment-related issues prompt strong advisories against trading with NinjaTrader. Notably, information regarding the broker's security measures remains elusive, adding to the apprehensions expressed by traders.

FXWINNING

FXWINNING operates without regulation from major financial authorities, leaving traders without a guarantee of the platform's safety. Users express concern over the delayed withdrawal process, with over 50,000 clients waiting for more than a month to access their capital. The lack of transparency, including undisclosed account details, raises suspicions among users who fear potential fraudulent activities.

EXMA TRADING

EXMA TRADING's lack of valid regulations intensifies the air of caution surrounding the broker. Traders express dissatisfaction, emphasizing the company's failure to return funds despite promising lucrative returns. The extended waiting period for money compounds frustrations, prompting doubt about the reliability and integrity of EXMA TRADING. The absence of regulatory oversight amplifies the financial setbacks experienced by users, further undermining confidence in the broker.

Broker Group

Broker Group operates without regulation from any financial authority, a red flag for potential traders assessing the credibility of the platform. The lack of disclosed spreads on the website raises transparency concerns, leaving users in the dark about the costs associated with trading on the platform. The absence of information on commissions and other expenses adds to the opacity. Limited details about account types and the dearth of educational resources contribute to a lack of clarity for potential investors. Users vent their frustration, citing an inability to withdraw invested capital for over 10 months. Allegations of an ongoing audit by the owners further exacerbate concerns, fueling suspicions of mismanagement or fraudulent practices.

STAGE FIVE

STAGE FIVE's regulatory uncertainties cast a shadow over its credibility and safety for traders. Despite the company's claim of United States NFA regulation with license number 0444666, doubts arise regarding the authenticity of this assertion. Suspicions point to the license number being potentially cloned, raising questions about the broker's integrity. The high minimum deposit requirement of $100 acts as a barrier for retail traders, limiting accessibility to a broader market. The absence of regulation implies potential challenges in fund withdrawals, further contributing to the uncertainty faced by users on the platform.

BBI Trading

BBI Trading's unauthorized status according to the National Futures Association (NFA) signals significant regulatory risks for traders. The absence of approval or a license from the NFA indicates a deviation from established regulatory standards. This unauthorized status poses inherent risks, as the company operates outside the regulatory framework set by the NFA, potentially jeopardizing the security of traders' investments. Users share their struggles, recounting challenges in withdrawing funds. Server issues and unsatisfactory explanations from customer service compound the difficulties faced by traders. The unauthorized status adds an extra layer of concern for those seeking a secure and regulated trading environment, highlighting the need for caution when dealing with BBI Trading.

Best Forex brokers in Colombia

RoboForex

RoboForex Review

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RoboForex stands out as a highly reputable and well-established Forex broker, catering to both novice and experienced traders. The platform offers an impressive array of features, including a user-friendly interface and an extensive selection of tradable assets, exceeding 12,000 instruments. Noteworthy is the broker's commitment to education, providing high-quality webinars and educational resources. With a minimum deposit of $10, RoboForex ensures accessibility for various traders. The broker's efficient financial transactions, diverse payment options, and 24/7 customer support further enhance the overall trading experience.

Key features

• $10 minimum deposit

• 12,000+ trading instruments

• User-friendly platform

• Diverse tradable assets

• High-quality educational resources

• Efficient and rapid financial transactions

• Wide array of payment options

• 24/7 customer support

IC Markets

IC Markets Review

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IC Markets, established in 2007, stands as a leading Forex broker with a strong regulatory standing under ASIC, CySEC, SCB (Bahamas), FSA (Seychelles), and FSCA (South Africa). Offering over 60 currencies and 10+ cryptocurrencies, IC Markets provides a diverse selection of trading instruments, including 1,600+ CFDs such as Gold, Silver, Stocks, Indexes, and Bonds. With user-friendly trading platforms like MT4, MT5, and cTrader available on various devices, IC Markets ensures a seamless trading experience. Additional services such as VPS, cAlgo FIX API, MT4 add-ons, educational content, and market analysis blog contribute to its comprehensive offerings.

Key features

• Regulators: CySEC, FCA, CMA, FSCA, FSA, CBCS

• Copy trading platform: Yes

• Minimum deposit: $1

• Free VPS server: Yes

• Trading platforms: MT4, MT5, Web terminal, Mobile platforms, Exness Trade Terminal

• Leverage: 1:2000

• Demo account: Yes

• Instruments: Currencies, assets of stock and commodity markets, cryptocurrencies

Exness

Exness Review

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Founded in 2008, Exness is a Forex and CFD broker providing access to a wide range of trading assets, including currencies, cryptocurrencies, stocks, indices, and commodities. The broker offers a proprietary Trading Terminal platform and supports MetaTrader 4 and 5. Exness caters to traders of varying experience levels through multiple account types. With a base in Cyprus, the broker boasts over 400,000 active clients and a global workforce of more than 2,000 employees.

Key features

• Extensive range of assets with competitive spreads

• High maximum leverage for versatile trading strategies

• High trade volume

• Free VPS hosting for uninterrupted trading

• Comprehensive price history and signals

• MetaTrader Suite available

• Swap-free assets

• Low trading fees