If we look at the FX industry as a pyramid, I would place these guys a level lower than they are supposed to be because these organizations are no different from casinos. They simply create an illusion of trading, being very afraid to tarnish their reputation.It's incredibly frustrating dealing with these kinds of scammers, especially when they operate under the guise of legitimate brokers. The term "Kitchen" is a fitting one—it's all a game with your money, and they have no interest in transparency or fairness. It's good that you're sharing your experience, as it can help others avoid falling into the same trap.
I completely agree with you on avoiding bonuses, as they often come with unreasonable conditions that are impossible to meet, leading to further issues down the line.
I wish you the best of luck in taking legal action and hope that more people can be warned before they lose their money. It’s good that we can discuss these things openly and hopefully help others stay safe.
And thanks for the tip on the other topic—I'll be sure to check it out!
Unfortunately, at the retail level, when trading with small amounts, there is a lot of this fakery – it’s like walking through a minefield...
Last edited: