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As we have discussed in previous blogs, it can be difficult to tell if a website is real or fake. Scammers put significant effort into making their websites look slick and professional. They also use aggressive and convincing sales tactics over the phone. Finally, by asking for payment in cryptocurrency, they make it harder to trace and recover any lost funds. So, what can you look out for to help you spot, and avoid, a scam like Beurax?
The first hurdle is actually getting onto the Beurax website! The original URL, no longer appears to operate. However, the scammers have set up another URL: beurax.work. This often happens with online fraud: once victims or authorities cotton on, scammers will set up alternative URLs.
So, what about this new URL? If you have installed standard internet security software, it will likely block access to this new Beurax site. It will also explicitly flag the site as a dangerous scam. This is a pretty good indication that the site is not trustworthy!Another tell-tale sign of a fake website is a lack of information about the actual company. For one, the website does not state where the company is registered or who regulates it. It provides an Australian address but a US phone number, which looks to be registered in Arizona. A search of ASIC’s (Australian Securities and Investments Commission) companies register shows that Beurax Corporation Pty Ltd was registered in 2020. However, even if a company is registered with ASIC, it can still be a scam! In fact, ASIC has published a Suspicious Website in its News Centre. In it, ASIC details its concerns about unrealistically high and ‘guaranteed’ returns and difficult-to-trace cryptocurrency payments.
In conclusion, it is clear to our experienced analysts that Beurax is a scam operating a fake website. If you ask to withdraw your funds, the scammers will likely come up with excuses or be unresponsive. Do not send them any further money! Many scammers will ask you to transfer further funds to “unlock” your investment but that is simply another way of scamming you. Don’t fall for it! Instead, contact Cybertrace’s experienced investigators to see how we can help you.
If you are a current or former staff member of the syndicate and would like to speak with us,We have successfully worked with conscientious insiders when investigating previous scams, thus bringing justice and relief to long-suffering victims. Your help can make a real difference!
BaFin grants such licenses to financial institutions that want to store cryptocurrencies in their portfolios for customers and trade in cryptocurrencies. Since January 1, 2020, such a license has been mandatory for institutes in Germany.
Sensitive legal measures can follow in the event of violations, with imprisonment of up to 5 years for the managing persons. Generous transitional periods apply to companies that were already trading and storing cryptocurrencies before the regulations came into force.Specifically, Commerzbank applied for this license from BaFin at the beginning of the second quarter of 2022, making it the first bank in Germany to apply for such a license.
According to BaFin, there are currently 25 applications and four licenses have already been issued. The crypto exchange Coinbase received the first German crypto custody license from BaFin in June 2021.
Commerzbank would like to offer this service to its institutional customers for the time being, according to Commerzbank's official statements.
But a number of Commerzbank's 11 million corporate and private customers will also have a strong interest in the safekeeping and trading of cryptocurrencies using Commerzbank's services. Therefore, the service will certainly be expanded quickly.At the international level, too, banks and major banks are very cautious when it comes to crypto. Only the US banking giant Goldman Sachs and the Swiss Credit Suisse have published concrete plans to introduce special cryptocurrency services for their customers.
Many officials in the global banking industry say that cryptocurrencies are gaining interest and importance globally and that the world of finance and banking has to deal with them.
However, hardly any bank puts it into practice. All business is left to the crypto exchanges and wallet operators.Most decision-makers at the top of the global banking industry believe that cryptocurrencies pose no threat to the importance and supremacy of fiat money and the international banking system.
However, many crypto experts believe that the cryptocurrency market and blockchain technology will make a number of banking services irrelevant and meaningless.
I think there is something to both opinions. All fiat currencies will not be completely replaced by cryptocurrencies, nor will traditional banks be able to continue to operate the entire business as usual.
Banks that do one thing without neglecting the other are well-advised. Commerzbank's strategy of also dealing with cryptocurrencies and offering customers services for custody and trading with cryptocurrencies is the only right one.
Perhaps the ailing Commerzbank will take a decisive step to set itself apart from the larger banks. It is often not the big that eat the small, but the fast that eat the slow. It would be nice if Commerzbank could be one of the fast ones.
Trusted Broker Reviews by AtoZ methodology
Like we earlier said, AtoZ Markets is committed to providing investors with impartial and comprehensive trading reviews and ratings of online brokers.To get more news about beurax review, you can visit wikifx.com official website.
Our reviews are the result of months of evaluating all aspects of an online broker's platform, including user experience, qualification of trade executions, products available on its platforms, costs and fees, security, mobile experience and customer service. We established a rating scale based on our criteria, collecting thousands of data points that we weighed in our star marking system.
Many of the online brokers we reviewed have given us in-person demonstrations of their platforms directly.
To determine the best broker for beginners, we focused on features that help new investors learn as they are starting their investment journey. The brokers were selected on the basis of first-rate educational resources, easy navigation, clear commission and pricing structures, and portfolio building tools.
At AtoZ Markets, we don’t just accept what is written on a website, but take it to the regulator. We will reach out to the regulatory bodies, if there is any investigation into any of these brokers. We will be checking generic feedback from customers who dealt with those brokers, till we finalize our trading review.
Interactive Brokers introduced a Lite pricing plan in the fall of 2019, which offers commission-free stock trades on most available platforms but still charges a small fee for IBKR Pro users.
It mainly serves institutional investors and advanced and active traders all over the world. That said, the company continues to introduce new products, educational resources and services aimed at investors who are not as active. Making the experience less intimidating for newer or less active investors is still a work in progress for the incredibly competitive company. In addition to unprecedented access to the market, IBKR has equipped itself with an impressive set of tools that can satisfy almost any possible trading need.
Clients are able to connect to any electronic trading platform globally, so you can trade stocks, options and futures around the world around the clock.
Until recently, Interactive Brokers had not focused at all on simplifying the process of accessing and starting their services. You have to sign up for quite a few forms to get your account enabled, but most of the features are available for use as soon as your account is opened. You can open an account without making a deposit, but it will be closed if you don't fund it within 90 days of opening. These are elements to consider if you decide to use these trading platforms.
Once your account is set up, you can afford to run and try all the tools in your demo account. In your personal area of the platform, you will find the most accessible and easiest-to-find IBKR tools. The company has also added IBot, an AI-powered digital assistant, to help you achieve your goals - the best brokerage stuff.
Everything Interactive Brokers revolves around Traders Workstation (TWS). TWS is a powerful and extensively customizable downloadable platform, which is gradually adding some comforts, such as a list titled “For You” that keeps links to your most-used tools. You'll need to take some time to get to know TWS, which looks like a spreadsheet. The Mosaic-integrated interface in TWS is much more aesthetically pleasing and allows you to organize tools as building blocks to form a workspace. You can create your own mosaic layouts and save them for future use. In short, it's going to take some time to get the exact experience you're looking for, but the design tools you'll need are all there.
The Interactive Brokers mobile app has almost all the functionality of the web platform. All available asset classes can be traded on the mobile app, mobile watchlists you create are shared with web and desktop platforms, and live data streams. Mobile streaming news includes Bloomberg TV, Real Vision and IBKR Traders Insight. The research is solid, the charts are very good for mobile, and there is a whole range of indicators. Also, the broker provides free trading guides to the new trader. This trading experience can only be experienced when you choose to work with the brokers in this trading reviews.
On the contrary, the 61.8% FE level near 1.0750 restricts the immediate downside of the EURUSD pair ahead of April 2020 lows near 1.0730-25. Should the quote drop below 1.0730, the 1.0700 round figure and March 2020 bottom surrounding 1.0635 will lure the pair bears. It’s worth noting, however, that the RSI conditions aren’t supporting a no-break south-run and hence intermediate pullbacks can’t be ruled out.
Investment scams are getting harder to spot, but there are some signs that you should take into consideration to protect your money.To get more news about vital markets, you can visit wikifx.com official website.
To avoid being scammed by an investment scam scheme, it is recommended to first take a look at what other people are saying about the company you want to invest in.
After doing some research on social medias (Facebook, twitter, instagram...) and investment forums, we found out that some users are unhappy about their experience with Mirollex and wrote mixed reviews about it.
It seems like Mirollex is not a reliable investment firm and you should take that into consideration before investing.
If you don't want to be the next victim of a fraudulent online investment website promising high returns and operating with a fake company, always do your own research first before investing.
This is the most important thing you need to know about an investment company before using it. Is Mirollex regulated ? Is it an offshore company ?
Most investment frauds are unregulated or regulated by an offshore regulation authority which won't help you in case of problem. Keep in mind that if an investment firm steal your money, you won't be able to complain about it unless they are licensed by a serious regulator such as:The common used strategy by fraudsters is to first send you some returns to give you the impression that you are quickly and effortlessly making money. This allow them to gain your trust.
Their next step is usually asking you to invest more money or get some friends and family to invest in order to get the maximum funds they can from you.
When they feel that you are not able to invest any more money into the scam, they will simply suspend or close your account and you probably won't hear from them any longer.
Many scam firms fraudulently claim to be based in a regulated juridiction using fake addresses and regulation licences in order to look truthfull in the eyes of future clients.Have you been victim of this online investment firm? Did you lose money with them ? Everyone does mistakes. Don't worry, you are not alone, and we are here to help you.
MyChargeback's team of experts is available 24/7 in order to help you recovering your hard-earned money.
After you fill the form above, they will be able to build a chargeback case to fight this company and get your money back as soon as possible.
Although earlier versions of MetaTrader date back to 2002, the ever so popular MetaTrader4, or as it is often called MT4 was released in 2005 and has been updated numerous times since then. The first MetaTrader5 or MT5 was launched in 2010 and has been operating in parallel with MT4. However, trader loyalty towards MT4 remains solid and the large majority of brokers around the world offer it to their customers.
A 2020 survey identifies MT4 as the most popular trading platform in the world, with a staggering 57% of survey respondents stating that it was their platform of choice. Unsurprisingly the second most popular trading platform is MT5.
So, what makes the two MetaTrader iterations so popular? And what are the differences between the two?
The short answer is that the MetaTrader platforms are easy and simple to use. We have all tried to use tools that feel more overwhelming than helpful or useful which leads to frustration and seeking other options. The MetaTrader platforms provide an unparalleled user experience along with a sleek and professional interface that enables traders to conduct their activities effectively. Furthermore, the platforms are known for their unfaltering reliability which is an essential feature in a sector that revolves around financially valuable transactions.
A crucial feature that made MT4 very popular is the availability of the Expert Advisors (EAs) programs that enable traders to customize monitoring and trading parameters according to their trading goals. This is coupled with the fact that MT4 has three execution modes (Instant Execution, Execution on Request, and Execution by Market) which give traders the ability to act swiftly or in a staggered manner to accomplish their objectives.
We must not forget that MT4 is available free of charge, in multiple languages, and fully functional on multiple devices with different operating systems.At this point, you might be asking what distinguishes MT4 from MT5 and which option would be the best for your trading needs. Both platforms provide state-of-the-art trading experiences, however, there are a few differences. For instance, a number of markets that are available on MT5 are not available on MT4. This could be a benefit to more experienced traders seeking to trade across very specific markets. MT5 also provides more chart timeframes and indicators which are very useful for those traders seeking more in-depth market analysis. The MT5 also offers a built-in economic calendar to help traders stay on track with key events. It must also be said that MT4 uses a simpler programming language (MQL4) that traders can use to create custom EAs and indicators which might make it more accessible to more inexperienced traders. On the other hand, MT5 gives a higher level of flexibility for traders seeking to create more sophisticated commands.
CFDs are derivatives products that allow you to trade on live market price movements without actually owning the underlying instrument on which your contract is based.
You can use CFDs to speculate on the future movement of market prices regardless of whether the underlying markets are rising or falling. You can go short (sell), allowing you to profit from falling prices, or hedge your portfolio to offset any potential loss in value of your physical investments.
Similar to trading Forex, CFDs allow investors to hold both “long” and “short” positions granting the retail trader with the opportunity to profit in either a rising or falling stock market. Additionally, investors have the convenience of limiting losses or claiming gains by using stop losses and limit orders.
Because CFDs are traded on margin rather than paying the full value of a transaction, the investor only needs to pay a percentage when placing a trade. Trading with margin grants the investor with leverage, which in turn allows the investor to access a larger amount of shares than buying or selling actual stock shares. By offering CFDs, we are allowing our investors to speculate on instruments and markets that may otherwise be unavailable or difficult for them to trade.
How does the CFDs market operates?
As with traditional share dealing, CFD prices are quoted as a Bid (the price at which you can sell) and Offer (the price at which you can buy). CFDs are traded on margin (also known as leverage), which means that to open a position you need to deposit a small fraction of the full value of your trade, known as initial margin. The initial margin required varies across different markets though would typically be between 10%-25% for an equity CFD trade and between 2%-5% for an index or currency trade.
What is margin and leverage?
CFDs are leveraged products, which means that you only need to deposit a small percentage of the full value of the trade in order to open a position. This is called “trading on margin” (or margin requirement). While trading on margin allows you to magnify your returns, your losses will also be magnified as they are based on the full value of the position, meaning you could lose more than any capital deposited. As CFDs is a margined product, there are overnight financing charge when you hold your CFD position open.
Leverage your investment potential
One of the main advantages of CFD trading, as compared with conventional types of trading, is that you can gain the same amount of market exposure by depositing just a small fraction of the total value of your trade.
The aim of this petition is that it creates enough noise and reaches the proper authorities, such as the FSCA to ensure that the people receive what is theirs.
If you agree and want to bring them down and have them pay what’s not theirs sign this petition and share to everyone that has suffered at the hands of these scammers !
KOT4X is an unregulated forex broker that offers 4 account types, ECN/STP trading, and the MT4 forex trading platform. This KOT4X review looks at the key features this broker offers and if you should consider this unregulated broker.To get more news about lcmfx, you can visit wikifx.com official website.
The Kings of Transparency (KOT4X) is an online forex broker that specializes in helping you trade Contracts For Differences (CFD's) such as Forex, crypto, stocks, and commodities. KOT4X has some good features such as low minimum deposits, decent commissions, the popular MetaTrader 4 (MT4) platform, and a choice of 4 different account types. However, also has some concerning weaknesses such as lack of regulation, sub-par customer service, confusing account withdrawal and deposit when it comes to bitcoin.
KOT4X uses a live MT4 account and offers 4 types of trading accounts, these are PRO Pairs, VAR Pairs, Standard Pairs, and Mini Pairs. These account types mostly differ through their commission structure and spreads, meaning each is ideal for a different type of trader.
Below, we look at the similarities and differences between each account type. We found the accounts available with KOT4x quite strange. We cannot understand why you would choose either the Standard Pairs or Mini Pairs accounts over the Pro Pairs. It appears only the VAR account presents a genuine alternative.
This account restricts your lot trading size to micro-lots (1000). Other trading accounts allow trading lots for micro, mini, and standard lots ( 1000 to 100,000).
Micro-lot is the smallest tradeable lot that most forex brokers will offer. Mini Pairs account is therefore an option if you are new to trading and want to keep your risk to a minimum while you practice trading. As the lot size is smaller, the capital you will need to open a position is lower.
In terms of costs, it does appear that spreads are in line with the Pro Pairs trading account. While the commission is only $1.00, the typical spreads start from 1.0 pips (1 pip = $10.00). This means you will pay $11 to open your position. This is the same as the Pro Pairs account, which has a $7.00 commission and spreads starting from 0.4 pips (0.4 pips = $4.00).
When choosing this account, beware that the main limitation is that you can only choose 29 forex pairs. This is different from the other KOT4x accounts which allow a choice of 55 forex pairs, stocks, commodities and cryptocurrencies.
Given you can easily reduce the lot size you trade with when using the Pro Pairs account and it offers more products to trade with, there doesn't appear to be a good reason to choose this account.
Not to be confused with what other brokers call Standard accounts (which have no commissions), the KOT4x Standard Pairs account is a commission account with a $7.00 commission for each standard lot you trade when you open and close your position.
This account has the same conditions as the Pro Pairs accounts except that spreads spread are slightly wider. We are supposed to be experts but we don't actually know why you would choose a more expensive account over an identical cheaper account. We asked the KOT4x live chat and their response was quite comical and we discuss this conversation in our customer service section. We question the whole point of offering this account.