This time, Fivoro.pro, fivoro.capital and fivoro.com websites are all bringing you yet another fimsy CFDs trading platform but unfortunately they’re no different from the other scams that we’ve reviewed here before. A pop-up appears on the Fivoro websites warning that US investors will not be allowed and in case they sign up they’ll get banned. Sounds ridiculous when this statement comes from a scam broker whose primary interest is to steal your deposit.

Fivoro is supposedly a member of the Crypto Commission Authority. This fake Crypto commission is supposed to guarantee an insurance through a bogus compensation fund in the likely event that Fivoro goes bankrupt. In the real sense, this is a useless entity and whether or not Fivoro goes bankrupt does not prevent the scammers from stealing your $250 deposit right away.

If you’re a victim of this scam, you can recover your original deposit if you take the first step to consult with experts who will assist you recover your funds.

4 Reasons why Fivoro is a scam broker

There are 4 reasons that we’ve come up with that point to the fact that Fivoro cannot be a trusted broker. They are as follows:

Broker is on the warning list of financial regulators

Fivoro has made it into the warning list of financial regulators such as the FCA and the British Columbia Securities Commission. The financial regulators have stated that the broker is illegally targeting their citizens while not authorized to provide financial services in their respective countries. In addition to this, the regulators have stated that it’s risky to invest with this broker as their activities are non-transparent and akin to what fraudsters run on the internet.

Fake business address

Fivoro claims to have offices in Canada, UK and Amsterdam. We investigated their supposed Canadian address and found out that this business has no presence in the said address. The address at 120 Adelaide St W #2500, Toronto, ON M5H 1T1, Canada does not host Fivoro. Chances are that the other two addresses are also fake.

CFDs broker trading against their clients

We’ve raised this point many times and we’ve just seen that it’s one of the reasons victims of this broker are complaining. The complaints suggests that the broker is manipulating the trades of its customers and thereby causing them losses. The platform has also been accused of posting fictitious numbers so as to encourage traders to invest more. If victims dance to the tune, they lose their money twice.

Fivoro uses vague description in their ‘about us’ page

They have refused to provide information about the company that runs the 3 websites. It therefore appears that the 3 platforms are run by an individual who has never incorporated any company to run the brokers. In case you want to sue, it’s difficult to find the company to address.

Conclusion of the Fivoro broker review

The track record of this broker is far from being good. The broker’s website was started in Feb 2023 but apparently they’ve scammed so many people in this short period of time. The individual running these websites is also anonymous. The broker is simply assuming that its victims are stupid and will not ask these questions.

It’s up to these scammers to reform their ways because we won’t stop exposing them and helping victims recover their lost funds.

Share this review widely and if you have an experience with this broker, please comment below.