This 77markets review will analyze the broker’s operations, focusing on red flags and tips for recovering lost funds if scammed.
FRE Broker Overview
- Website: https://www.77markets.com/en
- Website Availability: Yes
- Headquarters Country: United States
- Owned By: 77markets Ltd
- Blacklisted by: Not Recommended By Review Website Like Fraud Recovery Experts
- Domain Age:
Name 77MARKETS.COM
Registry Domain ID 2662849489_DOMAIN_COM-VRSN
Registered On 2021-12-20T18:43:33Z
Expires On 2025-12-20T18:43:33Z
Updated On 2024-12-21T11:07:45Z
77markets is an online trading platform established in 2014 and registered in Seychelles. The broker offers access to over 2,000 assets, including forex, stocks, indices, commodities, and cryptocurrencies. It claims to be regulated by the Seychelles Financial Services Authority (FSA) under license number SD007. However, this is an offshore regulation, which provides limited protection to traders.
77markets Review – Key Concerns
Offshore Regulation and Platform Issues
A major red flag in this 77markets review is that the FSA license is offshore and may not offer robust regulatory oversight. Offshore regulators are known for their loose standards, and traders using such platforms often face issues with fund security and dispute resolution. Additionally, 77markets currently has no verified trading software, which seriously impacts its credibility.
High Deposit Requirements and Spreads
Some accounts, like GOLD ($10,000) and PLATINUM ($50,000), require very high minimum deposits, making the platform less accessible to beginner traders. Certain forex pairs, like EUR/USD and USD/JPY, also have higher-than-average spreads, reducing potential profits.
This 77markets review highlights serious risks despite the platform’s attractive offerings. The combination of offshore regulation, lack of a verified platform, and negative reviews suggest traders should approach 77markets.com with caution.
Avoid These Popular Online and Financial Scams
Scammers have various ways to get into the minds of people and take away money from them. Here’s the list of scams:
- WhatsApp Scams: Scammers pretend to be officials, friends, or investment consultants. Their task is to lead the victim to invest in fake schemes or attempt phishing.
- Telegram Scams: Scammers create bogus groups and pose as real businesses to promote fraudulent investments, fake giveaways, and Ponzi schemes.
- Ponzi Scams: Their promise is of high returns and low risk, which is paid by new investors to earlier ones until the scheme collapses.
- NFT Scams: Scammers create bogus NFT projects, artificially inflate the price of NFTs, or simply dupe buyers into purchasing worthless digital collectibles.
- Amazon Scams: Fake Amazon representatives trick users into leaking personal details via fake order confirmation emails, refund scams, or phishing websites.
Is 77markets Broker Legitimate?
Using the following aspects, we try to confirm the legitimacy of 77markets Broker:
- Regulation Status: Legitimate brokers are regulated by the SEC, FCA, or ASIC. The lack of regulatory information is a big red flag.
- User Reviews and Complaints: Complaints from dozens of investors regarding lost funds and withdrawal issues point to scamming.
- Transparency and Credibility: Lack of company data, hidden fees, and misleading terms are signs of fraud.
How to Get Funds Back from 77markets Broker?
If you got scammed by 77markets.com Broker, these steps might help you recover your funds:
- Report to Your Bank or Payment Provider: Refer to transactions made without your permission and file a chargeback request.
- Collect All Evidence: All communications, transaction receipts, and screenshots should be consolidated as proof of the scam.
- Complaint Registration with Financial Authorities: Report the scam to the regulator within your country.
- Consider Seeking Professional Help: Recovery experts can follow the money trail and launch a lawsuit against the fraudulent brokers.
About Fraud Recovery Experts
Fraud Recovery Experts offer assistance to financial fraud victims in recovering their money. Our team of specialists works alongside banks and legal authorities to trace fraudulent transactions and assist them in the process of recovery.
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New fraudulent schemes targeting traders are something we are constantly keeping an eye on across the internet. Having gathered data on scam brokers for over ten years, we hardly can think of any other untrustworthy company in the market. Information about the scammers is provided below from our List of SCAM Brokers.
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