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Almahfaza

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Operating status: SCAM

Website: https://www.almahfaza.com

Broker violations and abnormal records
  • Aug 10, 2021 BrokersView has reviewed that Almahfaza is an unregulated forex broker
    Almahfaza claims to be a regulated provider of financial services with the relevant compliance licenses respectively issued by the Marshall Islands Registry (IRI), the Seychelles Financial Services Authority (FSA Seychelles) and the UK's Financial Conduct Authority (FCA). However, it’s actually not regulated by any financial regulator when we checked on IRI, FSA Seychelles and FCA. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
    Almahfaza claims to be a regulated provider of financial services with the relevant compliance licenses respectively issued by the Marshall Islands Registry (IRI), the Seychelles Financial Services Authority (FSA Seychelles) and the UK's Financial Conduct Authority (FCA). However, it’s actually not regulated by any financial regulator when we checked on IRI, FSA Seychelles and FCA. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.

Related Complaints

Q&A

Please check if Almahfaza is legit? I couldn't get in touch with their customer support. Please assist.

Lothar
Germany
Jan 20, 2022
ANSWER Almahfaza is not a legit broker and should be avoided at all events. Almahfaza claims to be a regulated provider of financial services with the relevant compliance licenses respectively issued by the Marshall Islands Registry (IRI), the Seychelles Financial Services Authority (FSA Seychelles) and the UK's Financial Conduct Authority (FCA). However, the broker's statement proved to be nothing but fake. Fisrtly, IRI does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. That means, traders should keep away from brokers related to IRI as they are not under valid license for operating forex trading. Then, when checking on IRI, FSA Seychelles and FCA, we found no regulatory information of Almahfaza. That means investor' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is thoroughly a scam. We would recommend you to stay away from Almahfaza and any other unregulated brokerages, since they are not subject to necessary laws and principles of operation, resulting in a high risk to trade with them.
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6 comments

JC
Total Scam: 1- High level of slippage. 2- Big rollover or overnight fees. 3- Poor execution if the costumer order is not favorable to the company interest. Some times fill out is more than 2 minutes or till your're loosing money (even in low demand times). 4- Bad costumer service including no product knowledge. Notice what you could expect, when the head of compliance has no knowledge of meaning of what usable margin and usable margin percentage are. 5- Other big issues not to discuss here, but if you want to know more, I'm giving you permission to ask for MY CONTACT information to this website owner's. If you want to destroy those bad guys with your own claims, lets do it together.
Sep 06, 2024
Reply
Oscar Poyatos
I love THIS platform. I highly reccomend it.
Aug 30, 2024
Reply
Graham Alkema
It had built me my dream financial wealth
Jul 31, 2024
Reply
Daoud
I Been with City Index FOR MORE than two yrs. I have lost money and I have made money. something nice about them they process your withdraw as fast as they do with your deposite. they have no games when you withdraw your money. you may get your withdraw the same day. UNlike FXCM. fxcm process the deposite very fast but a lot of drama when you withdraw.
Jun 19, 2024
Reply
Payton
Awesome staff, no problems with opening or closing, no requotes, no slippage. I got to them via eToro and the reason why is because eToro has to be an IB due to NFA regulations. Still trading.....
Jun 17, 2024
Reply
Justin saji Abraham
DO NOT USE THIS BROKER! Can not withdraw my money!
Jun 12, 2024
Reply
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