Flexo Markets – The Red Flags to be Aware of

Flexo Markets

There is no doubt that the financial markets are highly lucrative. There are thousands of instruments that can be traded and you do not have to have massive amounts of capital or years of experience to engage in trading. Most importantly, the internet and technology has made it very convenient for people to trade from anywhere and this also makes it flexible. Therefore, it is not surprising that thousands are drawn to online trading, but you have to remember that the markets can be just as dangerous as they are lucrative. This Flexo Markets review is an example of the risks you have to face.

It is not just the risk of trading in volatile and unpredictable markets that you need to contend with. You also have challenges to face when you are shopping for a broker. Why? This is because there are brokerages that only intend to scam their clients, or just cannot offer you good services. This means that your time and money will go down the drain. Of course, you do not want to deal with such circumstances, so you have to be careful when deciding which company to trust.

This is not so straightforward because there are a lot of factors to take into account. You have to remember that this decision cannot be based on just one feature or offering alone. You need to consider the overall brokerage and ensure that there are no red flags. If they do have any, then you should evaluate because it is better not to take the risk as you can end up with losses. This approach should also be taken with Flexo Markets, one of the brokers that you will discover in your search.

At first glance, you will not find anything wrong with the Flexo Markets website, but it only takes a little closer look for you to discover the red flags it has. What are they? You can check them out below:

No regulation or licensing

If there is one thing that you need to know about every broker, it is their regulatory and licensing status. Sure, you could sign up with a broker that is not regulated, or licensed, but that means leaving yourself exposed to the risk of getting scammed. If you read the horror stories, you will find that scams usually happen when people opt for such unlicensed and unauthorized companies and you certainly don’t want to do that.

Licensed and regulated companies can offer you safety of funds and peace of mind that is second to none. So, you need to know if Flexo Markets is licensed and regulated or not. Typically, brokers should inform you about their regulatory status on their own, but if they do not, you can always follow up. In order to do that, you have to know where they are based. A look at the address on the Flexo Markets website shows that it claims to be located in the United Kingdom.

This sounds impressive considering that the UK is one of the well-regulated regions in the world and its regulatory authority, the FCA, is one of the well-reputed ones. Therefore, you should check the Financial Conduct Authority’s register for Flexo Markets, but doing that shows that no such brokerage is registered or licensed. This means that either the company is lying about its address, or it is operating illegally. Both scenarios indicate that you are not dealing with a genuine company.

No Terms and Conditions

The lack of licensing and regulation is just the tip of the iceberg when it comes to Flexo Markets because you will find that there are other red flags to be found as well. The next one is the fact that the brokerage does not seem to have its Terms and Conditions listed on its website. These legal documents are aimed at outlining the policies that the broker implements and the rules it expects you to follow.

Essentially, they are the contract you sign when you open an account with a broker, which means they give insight into the costs that you will incur and other details. Yet, Flexo Markets has no such documents on its website and this is a red flag. This means it can implement any policy it wants and charge you whatever it wants and you will not be able to do anything about it.

No functional trading platform

What is the most important feature of an online broker? It is the trading platform they offer, which refers to the software you use for executing your trades. The software comes with tools and functionalities that can help you in your journey, so it is obviously important. Thus, it comes as quite a shock when you find that Flexo Markets does not offer a functional trading platform.

How can a broker exist without a trading platform? It is obvious that Flexo Markets is a fraudulent brokerage and is only interested in you deposit. It has no intention of letting you trade due to which it has not bothered to give you access to a functional trading platform at all.

Moreover, you will also find that Flexo Markets does not offer any details about its trading conditions, such as spreads or leverage, either. This is also not a surprise, given that it does not facilitate trading.

Misleading payment options

When you check out the payment methods that are supported at Flexo Markets, you will find that it has listed options like credit and debit card, along with Bitcoin and Tether. The option of cards often reassures people because they know that they will be able to file for a chargeback in case of issues, which means they will be able to recover their money.

However, you will discover that Flexo Markets is only misleading people because trying to use VISA or MasterCard for payments is impossible. It asks you for some kind of promotional code, which you don’t have. So, you can only use crypto for payments, which are non-refundable and final.

Ending Thoughts

All of these red flags are the proof you need to conclude that Flexo Markets is a scam broker that you should not use at all.