Abstract：This article will you an overview about CFreserve that has been scammed a lot of traders recently.
Financial fraud has always been a source of concern for investors. The forex market, on the other hand, is more vulnerable to scammers due to its massive transaction volume. To protect traders, authorities conduct stringent checks on entities entrusted with public funds. Despite this, money thieves such as 'CFreserve' continue to emerge with new forging tactics, infiltrating customers. This article discusses how brokers defraud their clients and shares some precautions that can save you from a financial disaster.
A Quick Overview of CFreserve
CFreserve is a Bulgarian forex and CFD broker. The firm provides a wide range of financial instruments across key asset classes, such as currencies, equities, indexes, commodities, and cryptocurrencies. While clients can explore tradeable opportunities using a proprietary Web-based trading platform, the broker does not support third-party platforms such as MT4, MT5, or cTrader. Notably, the trading platform is now available on mobile devices. The organization does not provide research or educational resources. Furthermore, customer service is only available by phone and email. There is also no mention of its regulation on the website.
Is CFreserve regulated？
CFreserve (https://www.cfreserve.com/) is not a regulated website. The company's website has no information on its registration. The company's official address is also not listed.
Client Response
CFreserve has received negative feedback and ratings from customers. The bulk of customers seems to be quite dissatisfied with the organization. People have reported that the broker never releases money. The following are some screenshots of customer comments about the firm.
Clients have also accused the corporation of breaking into their computers and stealing financial information.
Complaints received by WikiFX
How does CFreserve cheat its customers？
CFreserve uses the same strategy as many other scammers to defraud investors. Clients claim that the firm approaches them by phone or email after they sign up with it and requests deposits. The customer care personnel pose as your dedicated account manager and use misleading tales to get you to fund your account. When you finish your deposits and begin trading, the broker manipulates prices and causes you to win the majority of your positions, luring you to make further deposits. The true issue emerges when you begin a withdrawal request. The broker makes bogus justifications and refuses to release your cash.
Is it possible that CFreserve has ever been blacklisted？
Yes, the broker has been banned by a number of authorities throughout the globe, including the UK FCA, FSMA, and Spain's CNMV. The regulatory authorities have expressed their worries about the company's provision of financial services to separate areas without their authorization and have advised investors to avoid doing business with it.
What should I do if I've previously enrolled with CFreserve？
Please do not deposit money if you have yet to do so. Otherwise, attempt to begin a withdrawal request as soon as feasible. Although the broker is unlikely to release your cash, you may give it a go.
What can I do to prevent being a victim of a scam？
Learn as much as you can about the firm and prefer to join a regulated organization. Remember that it is vital to confirm a broker's regulatory status. Before investing, use the WikiFX app to check the broker's regulatory status.
About WikiFX
Wikifx is a platform for searching worldwide company financial information. Its primary duty is to provide the included foreign exchange trading organizations with basic information searching, regulatory license seeking, the credit assessment, platform identification, and other services.
WikiFX's database is sourced from official regulatory bodies such as the FCA, ASIC, and others. The published content is also fair, objective, and factual. WikiFX does not charge public relations fees, advertising costs, ranking fees, data cleaning fees, or any other unreasonable expenses. WikiFX will do everything possible to keep the database consistent and synchronized with authoritative data sources such as regulatory bodies, but cannot promise that the data will always be up-to-date.
In conclusion
Although you can't do much about the inherent market risk, you can choose a good broker. You merely need to be extra cautious. Furthermore, starting small and not putting in more money than you can afford will save you money.
Visit CFreserve dealer page on WikiFX: https://www.wikifx.com/en/dealer/4561290963.html
Stay tuned for more scam news.
Download the WikiFX App from the App Store or on Google Play Store.
