Moneyforex Financial - Forex Broker Review

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MoneyForex Financial Ltd is basically an online currency-trading broker that provides low pips and commission-free online forex trading. Some wall-street veterans presumably founded this company where they provide their services to individuals like and corporate investors.

They definitely have a great site and have great credibility when you take into consideration the years of experience the founders of the company have in the financial markets. They are based in British Virgin Island where they are registered under the provisions of the International Business Companies Act, 1984.

Call me superstitious if you like, buy I am always wary when dealing with a company that is incorporated in the BVI. Nothing against the island, it’s a beautiful part of the world but a couple of years ago, in my early days of trading, I was scammed by companies that were tagged as HYIP. It was definitely not a happy feeling and well I never saw my $4000 again.

As long as you learn from your mistake, it’s a step to a brighter future (some nice inspirational quotes, don’t you just love them).

So, as was being said, it’s an unpleasant feeling to lose money, whichever the circumstances. After researching the net over and over again, I gathered strong evidence/information that Moneyforex Financial is indeed a scam.

We will outline the different issues that past customers encountered while doing business with MoneyForex Financial Ltd.

• Accounts suspended for no apparent reasons
• Managed accounts depleted in short amount of time (and to say that they are market veterans, makes you wonder otherwise)
• You are charged humongous fees to withdraw money
• Lot of slippage and misquotes
• Limit buys or sell orders are not triggered when price is reached
• Awful customer service
• Seems to be run by one person only, who is the director, the a/c manager, admin and rep. (Multi-talented, which is not always good).

Further, this company has a list of unhappy customers to date and it seems like it’s not getting any better.

If you want more info about this broker here is a link to their site www.MoneyForex.com.

Opening an account with this broker will be at your own risk.

Happy trading.

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