Forbestrader Review

Note: Report Scam Community has conducted many researches before flagging Forbestrader as a possible scam in this Forbestrader Review.

Website – https://forbestrader.com/

Address – Paradeplatz 8, Zürich

Warned By – Swiss Financial Market Supervisory Authority (Switzerland)

Forbestrader Review: Introduction

Forbestrader is an online trading broker that claims to offer trading on over 500 products with instant execution, top conditions, and perfect customer service. They can deal in forex, commodities, indices, and crypto. The website is found at https://forbestrader.com/, and the company is located in Switzerland. They can be contacted by email at support@forbestrader.com and by phone at +41445869097. Forbestrader is not mentioning the owner name of the company on its website, which makes us suspicious about whether they are legit or not. Read a complete Forbestrader review to know more about this broker. 

Forbestrader Review: Regulation

Forbestrader.com is 100% anonymous. The name of the business that owns and runs this website is not disclosed. The terms of service which we must accept are linked to the account registration form. However, the document’s link is empty. This indicates that we are unaware of the parties with whom we are working or the specifics of the agreement. We shouldn’t put our money in danger in such a situation. The Swiss Financial Market Supervisory Authority’s (FINMA) database contains no information about Forbestrader.com.

How does the Forbestrader scam work?

Scam brokers get in touch with investors using social media, online advertisements, or contact numbers to request an initial deposit. If you invest with them, they will continue to seek money until you realize they are a scammer. With scam brokers, you are not able to withdraw your money. Before investing with a broker, the Report Scam community advises checking the cryptocurrency scam list.

Forbestrader Review: Trading Software

The Forbestrader.com homepage advertises MetaTrader 4, one of the most well-liked trading platforms in the market (MT4). We have access to a basic trading platform after creating an account. Only a few cryptocurrency pairs are supported by the platform, TradingView, a data provider, provides the chart for free. There is a distinct buy and sell option from the chart; however, it didn’t seem to be working.

Forbestrader Review: Trading Account

Forbestrader offers four types of trading accounts to its users including, Standard, Silver, Gold, and VIP. The minimum deposit for the standard account is $250, and the minimum spread is 1.5 pips. The minimum deposit for the silver account is $2500, and the minimum spread is 1.5 pips. The minimum deposit for the gold account is $10,000, and the minimum spread is 0.8 pips. The minimum deposit for the gold account is $50,000, and the minimum spread is 0 pips. Beyond these guarantees of minimal spreads, Forbestrader offers no other details.

Negative Reviews and Complaints

According to Report Scam, Forbestrader had poor ratings and reviews from customers on all other websites. After reading this review and all the positive and negative Forbestrader reviews, we discovered that this broker is unregulated and can be a potential scam broker. On the Report Scam website, we present a list of scam brokers 2022 so that you can avoid scam brokers. 

Forbestrader Review: Conclusion

We found that this broker is operating without any regulated license. To ensure the safety of your money, we suggest avoiding dealing with this broker. You can file a chargeback for fund recovery if you were the victim of a cryptocurrency scam, a forex scam, or any other scam. Fill out a complaint form on our Report Scam website. Our experts will guide you in the process of fund recovery.