Exchange.co.uk is a forex and CFD trading platform that claims to offer its users access to various financial instruments, including cryptocurrencies, commodities, indices, and more. However, when it comes to trading online, it is essential to be cautious and do your due diligence to avoid scams. In this article, we will review exchange.co.uk to determine if it is a scam or a trustworthy platform.
Is exchange.co.uk a Licensed Broker?
One of the primary factors to consider when evaluating a trading platform’s legitimacy is whether a reputable regulatory authority licenses it. They changed their website address in February 2021 and redirected to a new address (https://exweb.exchange.uk.com/Public/Login/logDefault.aspx). This is clear that they are frequently changing their address.
Why Should Not You Trust An Unlicensed Broker?
Trading with an unlicensed broker is extremely risky, as they are not held accountable for their actions, and there is no regulatory body to monitor their activities. This makes it easy for unscrupulous brokers to engage in fraudulent activities such as misappropriating traders’ funds, manipulating prices, and refusing to honor withdrawals.
Can You Trust exchange.co.uk?
Based on the fact that any reputable regulatory authority does not license exchange.co.uk, it is challenging to recommend trading with this platform. In addition, there are numerous negative reviews and complaints about the platform’s customer service, withdrawal issues, and suspicious trading practices.
What Do Traders Think About exchange.co.uk?
Several traders have shared their experiences with exchange.co.uk on various online forums, and most reviews are negative. Many traders have reported difficulties in withdrawing their funds, while others have accused the platform of manipulating prices to their disadvantage.
Scammed By exchange.co.uk? – Talk With An Expert
If you believe you have been scammed by exchange.co.uk, seeking help from a financial expert is crucial. You can contact us, and we will provide you with a free consultation and service recommendations. If needed, we can provide legal help too.