Investors who devote their time and money to online trading know from experience how many scammers are trying to cash in on users. Swindlers resort to various methods and tricks. In some cases, they take advantage of the inexperience and naivety of traders. In order to get as much money as possible by cheating clients, the scammers use old classic tricks and the latest modern technology. All this every day makes it more and more difficult to determine the true intentions of the broker and makes it almost impossible to detect a swindler "by eye". In spite of the fact that swindlers practice similar methods and have similar characteristics, it requires in-depth analysis of their activity, reviews, documents check and other similar methods.
Every trader can do all these things independently or get acquainted with the necessary actual and useful information in our specialized thematic reviews. Each review is dedicated to modern brokers that offer investors to join their trading platform.
For example, this detailed review is dedicated to the dubious broker Forexborsa, which is located on forexborsa.com. The site is presented in Turkish and English. Like the majority of similar brokerage projects, from the pages of the site users are promised "golden" mountains, full support of professional advisers 24/5 and absolute security of financial transactions.
This is not only vague and meaningless advertising phrases without any specifics or exact information. It's a deliberate deception of users, of their potential clients. If an experienced trader knows that every investment is a risk, then a newcomer is often misled by such advertising on the official website of the broker to whom he is planning to entrust his capital.
Using the information about forexborsa.com broker, presented in the review, you, as a trader, significantly increase your chances of saving your capitals. If you see gaps in the data about the project owners, trading conditions, lack of proof of legitimacy and incomplete contact information, refuse to trade on the platforms of such a broker - you are definitely a fraudster. Get relevant information and do not invest in dubious projects in the field of online trading.
Types of trading accounts offered Forexborsa
On the main page of the Forexborsa website, as well as in the top and footer there is no full information about the trading accounts with which potential clients of this dubious project have to deal. It is strange, because this important information is emphasized by all respectable brokers. Some take the data to the main page or describe all the conditions of the entrance to their trading platform in a special section.
Forexborsa, apparently, has a different approach.
A detailed study of the site, which, by the way, is characterized by inconvenient navigation and is poorly informative, managed to extract some information about the rules of logging into the Forexborsa platform. We are sure that most traders will be surprised to find out that such important information like the minimum deposit and other similar data is included in the FAQ section!
In other words, the platform offers users to open an account without looking, without explaining the terms and conditions.
Scammers shed a faint light on the size of the maximum and minimum deposits.
The answer to the question about the size of the minimum allowable deposit is also found in the FAQ section.
The minimum amount to enter the Forexborsa trading platform is 250 units in any currency with which the broker works - dollar, euro or pound. The experience of making reviews about online brokers suggests that such an amount makes one suspect this stockbroker to have a secret intermediary or even several, for financial transactions, to confuse the way of remittances. For example, brokers with a high reputation set the minimum entry threshold at $100-150.
And the overestimated sum shows the necessity to pay some additional services, the existence of which is not intended to be disclosed to the clients by the broker.
As for the maximum bet, not everything is clear here.
And this information can be called dubious, because 250 or 2500 euros is not the same as 250 and 2500 dollars or any other currency.
Somehow everything is encrypted and classified, which is very alarming and raises more questions and doubts.
And this information is strange: both the question and the answer are quite meaningless, as well as many others. Of course, to open an account you need to register, and to start trading, you need to have a certain amount of deposit on the account.
As for the commissions, the Forexborsa broker also gives a vague answer to this question.
There is no exact amount, and the search for important information is completely shifted to the trader, who must independently calculate the amount of fees on a calculator. If something is wrong, the broker will blame on the trader's mistake in calculations.
Talking about the minimum amount when withdrawing funds, Forexborsa assigns an amount of 50 units in the currency that the trader has chosen for himself.
As you can see, there are no direct answers to every question from the dubious brokerage project. Everything is approximate and vague.
Forexborsa Trading conditions
The users of the website of dubious broker Forexborsa have to try hard to find basic information on trading conditions. But here everything is unclear, filled with promises and stories about benefits, although it is desirable to obtain the most accurate information.
You have to collect information literally bit by bit on different pages of the site. For example, an indication of the monetary units that are acceptable for the platform's clients is in the section with questions and answers.
As for the Trading Tools section, the broker considers that the most important thing for the client is the Calendar and the glossary.
And here the information on bank transfers, is specified in a heading with questions and answers.
In general, the key data, which should help the trader to make a picture of his upcoming trades, is presented in the section called FAQ`s on the site Forexborsa.
When navigating through the sections, the site automatically switches between Turkish and English. This takes extra time to make changes to the settings.
Searching for data about trading conditions is extremely tiring. The site is of a low level of quality, it is not systematic and has little information.
It gives the impression that it was created by people who have no idea how the field of trading works, as well as what kind of accents are required for clients of such platforms.
The site doesn't say anything about the history of the company and its first persons. The only thing that is there is a certain picture that shows the license.
On the so-called document, there is a date of registration of Forex Borsa LTD, which trades as Forex Borsa FX - November 2011. The stamp that approved this same dubious document has a different date with a few years difference - 05.07.2019.
It's amazing that with such a shoddy website, the company managed to last so long and not try to systematize and supplement the data.
If the document is to be believed, it was issued by the FSB regulator. When you ask for the regulator's official page, a search yields links to documents issued in South Africa or such a site.
But here the issuance of the license is not confirmed.
Let's see what the company's domain tells us, which we find out thanks to the service checks IP addresses and domain names WhoIs.
It is known that the site was registered in November 2012. It turns out that the company presented online for a year worked without a website? Or there is no registration, and the scammers, even drawing the license, made a mistake in indicating the year?
The re-registration took place in February 2021. This is most likely the beginning of the work of the dubious company Forex Borsa. Fraudsters are actively practicing purchasing already "old" domain addresses in order to add their importance in the eyes of potential customers.
Other information is about the owners and such information is hidden by the right holder. By the way, this feature is paid and made consciously.
This approach is just another proof that this is not a reliable broker but a typical scammer without a normal website and documents.
Forexborsa Reviews online
As for the reviews, there is absolute silence on this matter. No matter how long the company has been working since 2011, 2012 or the beginning of 2021, it should have been mentioned on the Internet. At least one user. However, no one wanted to mention a project like forexborsa.com.
Neither in Turkish nor in English.
This is very strange and suspicious.
By the way, there are mentions of projects with a similar name, but they are all derivatives - borsapro, for example, and the others - in other words, we are not talking about the hero of our review.
On their maite scammers constantly refer to their support service. So, they don't list their actual address or at least their offline mailing address. Communication is only by email or phone, which, thanks to IP telephony technology can be anywhere, despite the code.
And it is known that fraudulent brokers leave the overwhelming percentage of users' electronic applications unattended.
Safety and security of funds with Forexborsa
Despite the poorly prepared website, lack of reviews and documentary proof of the right to conduct financial activity, scammers from forexborsa.com are trying to talk about the safety and reliability of cooperation with them.
All this is a lie and has not a single reason to be trusted by traders.
Forexborsa brokerage project on forexborsa.com site is one more attempt of financial swindling on the internet which is disguised as trading. You should not invest in such a trading platform - it's all sheer deception, incompetence and absolute risks for traders' money.