Fullerton Markets Review: A Scam Broker (fullertonmarkets.com)

 
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Fullerton Markets operates out of the infamous offshore jurisdiction called St. Vincent and the Grenadines.

We noticed that fullertonmarkets.com first appeared online in June 2015 but was privately registered by the owners.

At the time, fullertonmarkets.com was managed by persons named Mario Singh and Mary Dighton.

Mr. Singh was cited as the CEO of the company while Dighton was the head of compliance.

Currently Rahul Sodhy is listed as the CEO. Mr. Sodhy appears to be based in SVG and has worked with infamous brokers such as FXPRIMUS.

FXPRIMUS is known for denying traders of their withdrawal requests, yet they aggressively market their brokerage services by paying for advertisement that portrays them as the best Forex and CFDs broker.

If either of these brokers have scammed you, the only way to recover your lost funds is to follow these instructions.

Fullerton Markets review and overview

The broker is a self-proclaimed “committed trading partner”. They also claim that they’ve won multiple awards in the past.

We’re afraid that these claims cannot be substantiated. In fact, the broker’s awards appear to be mere marketing stunt rather than something that can be proven by providing us with links to the organizations that approved of this broker’s activities.

At the very least, Fullerton Markets would have provided links instead of fake badges that are meaningless in our eyes.

Fullertonmarkets.com also provides a social trading facility meaning that less experienced traders can subscribe in order to copy the trades of more experienced traders.

The company fails to disclose which criteria they’re using to vet/rank traders to ensure maximum transparency.

Falling blindly for these social trading platforms is one of the reasons why traders lose a fortune on these rogue trading platform.

Some times they cook up figures and create a list of “most profitable traders” in order to attract huge deposits from financially unsophisticated consumers.

The list of profitable traders is never real. It’s something that they create by themselves and use it for marketing purposes.

Fullertonmarkets.com is an offshore and unregulated broker

We noted that St. Vincent and the Grenadines is not a jurisdiction where brokers can be taken seriously.

The island does not have what it takes to crack the whip on errant brokers who accept deposits and never process withdrawal requests.

Their framework is weak and the financial regulator in this offshore region is feeble.

As a result, scammers have a field day setting up phony brokerage companies in St. Vincent and the Grenadines.

Last time we checked, we found several illegitimate brokers operating in one complex or appartment.

This address is synonymous for hosting dozens of brokers who are known for stealing funds from oversees clients and laundering it in the SVG.

In a nutshell, your funds are not safe here. You can’t transfer your funds to Fullerton Markets and expect that the broker will be fair with you.

Their intention is to use underhand tactics to steal your deposit.

How Fullerton Markets scams its traders

The broker is operated by people who understand the online retail trading business very well.

This is why you saw Mr. Sodhy move from FXPrimus to become the CEO of Fullerton Markets.

These folks are offering CFDs for trading. CFDs (Contract for Difference) are illegal in the US and you can clearly see that this broker is committing securities fraud by accepting US traders.

CFDs work like a promisory note where person A will make money if person B loses and vice versa.

Fullerton Markets is a market-maker but they won’t admit it.

A market-maker does not take your trades through regulated exchanges like a legitimate broker would. What they do is to take the opposite side of your trades and depending on the outcome, you may make money or lose it.

The problem with market-makers’ business model is that conflict of interest usually arise.

The only way that Fullerton Markets makes money is when you lose money from a trade.

This means that the broker must do what they can to make you lose, including widening spreads, hunting your stops and freezing their platform when huge amount of money is at stake.

Clearly you can’t beat such a broker. And if you do, you must ask yourself whether Fullerton Markets will give you the winnings.

Wrapping it up

Fullerton Markets is a broker we can’t recommend as their website is designed to prey on greedy consumers.

This is why they have ridiculous promotions everywhere. The bonuses are meant to create the illusion of trading a sufficiently funded account.

Leverage is 1:500, which gives the illusion of money that you actually don’t own.

All of these things are designed to make you lose your deposit. Are we together?

Kindly drop your comments below so that we can also hear your opinion.

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