Summary of TusarFX Trading Company
TusarFX is a Forex broker registered in the United Kingdom on March 26, 2021. The company is not regulated by any reputable financial authority, including the FCA (The Financial Conduct Authority, United Kingdom), CySEC (The Cyprus Securities and Exchange Commission), or ASIC (The Australian Securities and Investments Commission). This has raised serious security concerns among traders. Furthermore, the broker's website lacks SSL encryption and is accessible only via HTTP, further compromising security.
TusarFX has been known to change its website names and company names frequently, potentially to evade liability.
The broker claims on its website that services are provided by TUSARFX Ltd. under the laws of Saint Kitts and Nevis. However, there is no evidence of this company's existence, and verifying offshore entities is often impossible.
Client reviews suggest potential market quote manipulation by TusarFX on its platform, resulting in client losses and difficulties in withdrawing funds.
Former clients report that withdrawal requests often go unanswered. TusarFX directs clients to resolve disputes in Saint Kitts and Nevis courts, making problem resolution virtually impossible.
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FAQs
Why has TusarFX been placed on the Forex Broker Blacklist?
Possible reasons:
• multiple complaints have been filed against TusarFX by traders claiming the broker failed to fulfil its obligations, including process withdrawals;
• the website of TusarFX is down, not updated or operates with clear errors and some features are not available;
• TusarFX has been blacklisted by the regulatory authority, and a warning has been published on the regulator’s website.
What should I do if TusarFX got blacklisted and I still have money in my account?
Don’t panic right away. First, try to find out the reason why TusarFX got blacklisted. The situation may be temporary. Contact Traders Union client service for details. If the situation is critical, try to withdraw money. The best way to do it in parts, so that the broker does not suspect that you want to withdraw your entire balance and close the account.
What should I do if I cannot withdraw my money from TusarFX?
If your broker refuses to process withdrawals under various pretexts, your algorithm of actions is as follows:
• Get a clear response from the broker’s Support Service with reference to the clauses of the Terms of Use (User Agreement). Save your correspondence and download the transaction history from your account.
• With a full package of documents, appeal to the following organizations: the broker’s regulator or corresponding law enforcement agencies. If you make your deposit with a bank transfer, try to initiate a chargeback request.
• Share your situation on traders’ forums, add the broker to blacklists of various websites, as it will help others avoid the mistake.
Is there any chance to recover my money if TusarFX is a scam?
On rare occasions, yes, for example, if the broker was a member of a compensation fund, or upon a court’s ruling.
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