You have already started thinking about investments and you are considering online trading as one of the possibilities to multiply your capital? Then read our review carefully, in order not to run into fraudsters, of which there are many on virtual broker websites.
Beware of fraud, especially if the broker seems too convincing, persuading you to invest in different types of markets with his help, as well as telling you about the benefits of taking out a loan to realize your goals. Believe me, you shouldn't take chances and hope for chance. What if the broker you have chosen is already "overgrown" with negative reviews, is operating illegally and is generally going to simply steal your money? Our informative review "opens your eyes to the reality" and allows you to know the truth about scammers among online brokers. Today's article is devoted to another one scammer in the sphere of online trading - the company Fa Sel. This broker does exactly as we described above. So, now in detail and in order.
Types of trading accounts offered by Fa Sel
The broker introduces the general information about the trading conditions and types of accounts, offering a table with the names of the packages and the terms of their use. Participants can choose any of the three financial plans offered - Unity, Unity PRO, Unlimited. Minimum investment amounts are $150, $1,000 and $10,000, respectively.
So, what we see.
Protection of deposits is promised only to those traders, whose initial investment capital is $10,000 or more! Also, traders who select the Unity and Unity PRO packages can't rely on the personal adviser's help.
Investors of the package with the minimum deposit have practically no rights or authority.
In general, the section is not very informative. Especially for those who are new to online trading in general and to this site in particular. An experienced trader will suspect the broker of conscious non-disclosure of information. It is possible that the minimum deposit amount of 150 dollars which is necessary for a trader to start may be an evidence of the fact that Fa Sel broker has intermediaries specializing in processing non-trading transactions. What does it mean? It means that there is somebody else (a person, who is unknown to the trader), who controls the main financial processes (depositing/withdrawing money). If this is the case, in case of any problems, which, as practice shows, will definitely happen with such an approach from the broker's side, the clients simply will not be able to make refunds in a compulsory procedure. In accordance with the guarantees of the International Payment System (IPS), this can be done by confirming its claim with documents, which the user simply has no opportunity to provide - there is no documentary confirmation of the fact of money transfer to the company, because everything is done by the intermediary (most often more than one).
Fa Sel Trading conditions
In order to become a participant of trading operations, the client has to go through several steps:
Step 1. registration. Authorization requires filling in a questionnaire template (specifying the personal data).
Step 2. open a trading account. A client creates a personal account.
Step 3. financial investment. A trader chooses the best package (account type) and makes a deposit, not lower than the specified initial deposit.
The description of trading conditions looks more like advertising slogans than informing the user.
For example, advanced technologies in online trading are offered to platform members. What are they? What are they? Words about nothing. Any IT can be called cutting edge, too.
You can start trading from either a computer or a mobile device. Really? It can be done with any broker, the most important thing is that the client's device itself meets all the necessary parameters.
The scammer Fa Sel, and we can already call him so based on the studied facts, ascribes to himself beautiful statistical data. Let's see how they correspond to reality: about 190 000 open accounts, more than 500 000 trades, about 200 tools for successful and profitable trading. A trading volume of 90 million daily.
Also, there is an online calculator for users that allows the client to calculate the approximate size of the potential profit.
All of the above allows fraudsters to create for the client an atmosphere of successful trading. However, it is only visibility, with an emphasis on simplicity and beautiful figures, which have no actual confirmation.
The scheme is really simple, but not so rosy and profitable for the client, as it might seem at the beginning.
As practice shows, the broker lures newcomers by allowing them to withdraw a small amount, causing his confidence. Then, promising a profit, persistently offers to work with larger deposits. The client who has already drawn a profit agrees, but the "trap" is already in place and it is no longer possible to withdraw his money from the virtual office.
In fact, the fraudsters masterfully and quietly drain the client's deposit, distracting his attention with demands to pay separate commissions, taxes or any other fees.
And then it becomes obvious - Fa Sel is a common phony, a swindler, who was not going to withdraw the money originally.
Fa Sel Licenses
It would be possible to get an explanation for the disappearance of their money in court, if Fa Sel acted within the law. But it is a scammer in the field of online trading, so all methods to return the investments turn out to be a waste of time and nerves for the clients.
The scammer claims to have been working in the field of trading for 4 years.
Never take it`s words for it and check the date of domain registration with the WhoIs site.
Again we encounter deception! What four years of experience does this broker's website talk about? Nothing to do with the truth, and nothing to do with the metrics themselves.
Not only that the re-registration took place in November 2020, so in such a short period of time to achieve these financial figures is unrealistic even for experienced companies, but for fraudsters - easy as pie.
And what does the broker himself say about the legitimacy of his activities?
On the site, in the "About Company" section there is a list of partners? Liquidity providers, and oh my God! There is even a screenshot of the certificate!
The fact is that, as for most of the scammers, it is of poor quality.
Let's make a deeper check and check the registration on the site of the regulator, to which Fa Sel broker refers.
We enter the name of the company into the search field, then the number of the license indicated on the site.
The result is the same in all cases.
What is the conclusion?
It's an anonymous office, which has no registration, no license, and a low level of Photoshop skills. About the conscience and honesty of such brokers is not even worth mentioning, and traders' money will be guaranteed to be stolen, and there will be no one to complain about the fact, except other users on the Internet.
Safety and security of funds with Fa Sel
Fa Sel behave with traders like swindlers and do not mention safety of personal information and financial side of their clients. Only that the safety of the account can be expected only by the trader who chooses the type of account "Unlimited", i.e. the one with the initial deposit of $10,000 and more.
The company is a typical scammer, presenting its "services" through fake brokers.
The goal of the project is to attract as many gullible clients as possible and capture their money, hiding their true motives under promises of high returns while investing.
As soon as the client invests a more or less large amount, the broker immediately "plummets" it: the trader is faced with blocking the account, the rejection of requests for withdrawal and other reasons, which lead to one result - the refusal to withdraw your money.
The company Fa Sel (or its updated version) entered the market in the fall of 2020. The broker offers traders cooperation on quite acceptable trading conditions. However, this is only in the format of promises. In fact, in just a few months, Fa Sel.
managed to acquire a reputation as an unreliable partner in the field of trading.
Despite the fact that the company's site is translated into several languages, and Fa Sel broker
assures that it works around the world, you can find reviews only of Russian-speaking traders on the web. And all of them, alas, for the company, are negative.
The broker's clients complain en masse about the fact that it is impossible to withdraw money, bad service, failure to meet deadlines, etc. Traders are outraged by the virtuosity and imagination with which swindlers try to steal investors' money.
Of course, you would think that it is the work of competitors, but comparing the facts and checking the rest of the information, there are no more doubts and illusions about Fa Sel. This is another swindler, and not a reliable partner, as the company presents itself.
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Fa Sel company is an old scammer, which has been "processing" users' wallets for several years already, hiding behind different masks (names and addresses). It's a scam operating without a license, where trusting traders lose their money instead of making money. All fears about the broker's dishonesty have been confirmed by checks on the regulator's website, reconciliation of dates and reviews of real customers left on third-party websites and thematic Internet forums.
Fa Sel is just another fake broker project, and all the trades on its trading platform are not real. Do not work with him to avoid becoming his victim. Do not let another fraudster touch your money!