In recent years, online trading has become increasingly popular, leading to the emergence of various online trading platforms. However, not all online trading platforms are reliable, and some are outright fraudulent. One such platform is marginblox.com AKA AlgoMargin. In this article, we will review marginblox.com and determine whether it is a scam or a legitimate online trading platform.
Is marginblox.com a Licensed Broker?
When you will look for the license information of AlgoMargin, you can find a list of their regulatory body at the bottom of their homepage. They claim to be regulated by the Central Bank of Ireland, B.V.I Financial Services Commission, ASIC, South African Financial Sector Conduct Authority, Financial Services Agency, Financial Futures Association of Japan, CySEC, and many more in Dubai, Israel, etc.
Unfortunately, none of them return any search results regarding this broker’s regulation authenticity. We searched every single website mentioned and we found nothing true. It is proved that they are a pure legit scammer.
Why Should You Trust an Unlicensed Broker?
Trusting an unlicensed broker is a significant risk for any trader. Regulated brokers must comply with strict regulations, which offer some level of security for traders. However, unregulated brokers have no oversight, which makes it easier for them to engage in fraudulent activities such as manipulating prices and withholding funds.
Can marginblox.com Be Trusted?
We showed you how they are lying about their license and regulation. They are not regulated by any of the mentioned organizations. Also, they enlisted their company in different names in different regulatory bodies. Why do they need to hide their real business name to get regulated?
What Do Traders Think About marginblox.com?
After conducting further research, we found numerous complaints from traders who have used marginblox.com. Most complaints are based on their withdrawal policy, false weekly profit promises, and high-profit promises.
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