"Funding Talent: A Comprehensive Review of Its Legitimacy"
Funding Talent, the renowned online forex trading platform commonly known as ForexTips101, has announced their closure in November 2021. The company cited insufficient profitability from trading as the reason for the sudden shutdown. Funding Talent had previously been recognized as a reputable provider of diverse financial services to traders.
Is Funding Talent (ForexTips101) a Licensed Broker?
The short answer is no. Funding Talent does not have a valid license from any regulatory body. It claims to be based in the United Kingdom but is not registered with the Financial Conduct Authority (FCA) or any other reputable regulatory agency. First, they received a warning notice from Nova Scotia Securities Commission saying they were doing unregistered activities. Then, in September 2021, they notified their traders that they were moving to modern edge trading and forced them to move there too. For the traders who did not move, it canceled their accounts and then sliced the profit margin from 80% to direct 25%.
Why Should You Not Trust an Unlicensed Broker?
The absence of regulations or standards binding unlicensed brokers has resulted in a significant risk of fraudulent activities. Such brokers have been known to engage in unethical practices such as price manipulation, identity falsification, and misrepresentation of their services. It is essential to exercise caution while dealing with unlicensed brokers to avoid potential losses and safeguard one’s financial interests.
Can Funding Talent (ForexTips101) Be Trusted?
Funding Talent cannot be trusted based on the need for more regulation and numerous complaints from traders. They are closed now, but the rumor is they are trying to open their business under another name.
What Do Traders think About Funding Talent (ForexTips101)?
Traders have reported numerous issues with Funding Talent, including withdrawal problems, hidden fees, and poor customer service. Many traders have also said that the platform’s trading signals are inaccurate, which has resulted in significant losses. Additionally, there have been reports of Funding Talent using fake positive reviews to manipulate its online reputation.
Scammed by Funding Talent (ForexTips101)? – Talk To Our Experts
If Funding Talent has scammed you, seeking legal advice as soon as possible is essential. Contact us today for a free consultation and recovery service recommendations to recover your lost money.