The Forex Treasures – A Broker That Is Listed As A Fraud

The Forex Treasures Review will bring down the enterprise of this financial market pirate and hopefully prevent it from stealing your treasure, i. e. trading funds. We’ve seen multiple scammers use the same recycled website so it made our job easier. The broker claims to be regulated in the UK, which means there’s a lot to unpack there. So, all aboard and full sail ahead to the East Indies!

On top of that, we seriously recommend you not to invest in the fake brokers Fin Art Media, Perlybit, and NBI Markets. Do not trade with these unlicensed brokers if you want to save your money!

Is Forex Treasures Regulated by the FCA?

A broker based in Indonesia would never claim to be regulated by the UK’s Financial Conduct Authority (FCA). Unless… No, it can’t be. It’s a scam! No need to be all dramatic, let’s look for more clues first.�

It’s Indonesia, alright, not Liliput, surely the local financial regulator has something to say about it. Nope. The Indonesian Commodities and Futures Trading Regulatory Authority (BAPPEBTI) has nothing on the broker. Well, that’s awkward, it seems the Forex Treasures lied all along.

Why Is Trading On a Licensed Broker’s Platform Preferable?

Forgive us for ridiculing Forex Treasures, the scammer deserved it after all due to such blatant lies. All jokes aside, this broker is unregulated and shady. Top-tier financial regulators have nothing on it, which is proof enough. Make sure your provider is tidy when it comes to regulation.

So Is Forex Treasures a Decent Broker or a Scam?

Forex Treasures is an unlicensed trading firm. The broker has been banned in the UK and Italy for providing unlicensed trading services.

Warnings From Financial Regulators

Note to scammers – don’t provoke the anger of regulatory heavyweights. Otherwise, you’ll get blacklisted and then you’re done. This fraudster, in particular, has appeared on the warning list of not one, but two renowned regulators, i. e. the FCA and CONSOB. Take a look.

Forex Treasures Offers Safe Trading Software?

It’s not about the prestigious awards or advanced features, we all know that Meta Trader 5 has it all. It’s about functionality, i. e. who guarantees that what you’re getting actually works? We highly doubt that the shady broker can provide you with MT5. However, even if there is some suspicious file for you to download, we strongly advise you not to do it, as it could contain malware.

Is It Possible to Trade With a Mobile App?

We ran into a section describing the mobile version of MT5 and things got a little weird. Next to a generic image of a phone with trading tabs, we found a text in what seems to be Latin. It’s a placeholder text commonly used to demonstrate the visual form of a document. As for the mobile platform, you should do your best to avoid it, it’s not safe.

Forex Treasures Trade Range of Trading Markets

The website is incoherent and all over the place. It’s evident that the scammer stole it. We doubt that the fraudulent broker offers any of these assets but we’ll list some that we found anyway. Here’s the list:

• Forex pairs – EUR/USD, GBP/USD, etc;
• Indices – Germany 30, FTSE 100, etc;
• Crypto – Bitcoin, Ethereum, etc;
• Shares – Apple, Tesla, Netflix, etc.

What Do We Know About Forex Treasures Account Types?

There are two account types. You have the classic account and the platinum one. The listed features of these accounts are descriptive with no concrete information.�

Fake Forex Treasures Awards

This is getting funny. Awards? Seriously? They’re all fake. For example, at the Lonon Summit 2020, the “Best Trading Platform” award was given to CMC Markets Connect.

Minimum Deposit, Withdrawal Terms and Fees

Forex Treasures was kind enough to include the minimum deposit amount, which is $100. The rest of the links are either broken or non-existent. But the fraudster did mention the essence, i. e. the amount of money it wants to steal from you. The payment methods include card and wire transfers.

Bonuses and The Terms of Their Receipt

Uh-oh, here’s another red flag. Bonuses are banned by top-tier regulators, especially the FCA, which issued a warning against Forex Treasures. The reason why scammers include them is that they promise more profit. Then, they throw complex clauses at you to prevent you from withdrawing money.�����

What Is Known About Forex Treasures’ Trading Conditions?

At this point, analyzing trading conditions would be meaningless. The scammer copied all the data on the website from someone else. “Low spreads,” they say. How low, we ask. Forex Treasures is constantly beating around the bush. A leverage of 1:500 is prohibited for retail clients. There’s no way a financial regulator would allow this.�

Scammed by Forex Treasures Broker? – Let Us Hear Your Story

We get that you’re feeling down because you’ve been scammed. No need to be ashamed, it could have happened to anybody. Since the fraudulent broker accepts payments via credit/debit cards and wire transfers, there are ways to get your money back. Allow us to tell you about chargebacks and recalls.

A Chargeback And A Recall?

If you’ve paid via credit/debit card, you can reverse the transaction. This is known as a chargeback and it is performed by the issuing bank within 540 days. For wire transfers, you’ll have to request a recall. But, there’s one problem. It only works if the transaction hasn’t gone through, so act with haste!