FCA Warning! Forex Broker Spmarket24 is a Scam

Most investors who have problems withdrawing their money from a broker, are dealing with unlicensed fraud brokers. They might not even realize they are getting scammed right until the very moment they submit to get some of their funds back.

Recently, BrokersView learned that some investors have been defrauded by a scam forex broker named SPMarket24. Based on the information we hold, these investors were caught in withdrawal scams weaved by the fraud broker and of course neither does the broker has legal regulation license.

Investors Cannot Withdraw Money from SPMarket24

A few investor posted their scammed experiences with the scammer SPMarket24.

One said that at the begging, on the SPMarket24 platform, after he sent the money, he can see that there is profit. ALL were fake is just to convince him to invest more money, but when he asked for money withdrawal... then he understood that he have been cheated … and they disappeared.

Another one told that he traded with SPMarket24 only a few days, and deposited the amount of 200 euro. All ran well at first. however, when he applied to withdraw later, the scammer forced him to put more money but he refused, and then he found he cannot withdraw any more.

SPMarket24 is not Regulated by FCA

The broker is operating under the website www.spmarket24.com(cannot be opened now) and claims to be subject to the supervision by the Financial Conduct Authority (FCA) with license number 507880. However, when we searched on FCA with the number and found that the fake broker is warned by FCA. The SPMarket24 is a clone of EEA authorised firm and has no legal license.

(Screenshot from FCA)

Although the regulation on the forex brokers are becoming increasingly tightened worldwide, while dealing with a broker, it is essential for traders to verify the brokers' authenticity and regulation status. BrokersView strongly recommends investors only to trade with regulated forex brokers.