Fidelis CM Review: Introduction
Fidelis CM is a brokerage firm owned by Fidelis Capital International Markets, based in Mauritius. The company was founded in 2017 and established an offshore operation. However, there are several inconsistencies regarding the company. Read this complete Fidelis CM review to know whether Fidelis CM is legit or a scam and why we added this broker to our Scam Brokers 2023 list.
Website – https://www.fideliscm.com/
Website Availability – Yes
Address – Suite 305, Griffith Corporate Centre, Beachmont, P.O.Box 1510, Kingstown Saint Vincent and the Grenadines
Warning – Not recommended by review websites like Report Scam
Regulation – Unregulated, Offshore
Domain Age –
| Domain Name | fideliscm.com |
|---|---|
| Date Registered | May 11, 2011 |
| Domain Age | 12 years, 4 months, 19 days, 1 hour, 51 minutes, 2 seconds |
Fidelis CM Review: Regulation
As per the website, the brokerage is under the ownership and operation of Fidelis Capital Markets Limited, a registered entity in St. Vincent and the Grenadines. Curiously, the website also asserts regulatory oversight by the local Financial Services Authority (FSA), despite the well-known fact that the government of SVG does not encompass forex trading or binary options within its regulatory purview.
This appears to be a deliberate attempt by the brokerage to deceive inexperienced traders. In reality, the broker lacks regulatory compliance, which raises concerns about potential risks for prospective clients.
Fidelis CM Review: Trading Accounts
Fidelis CM presents its clients with a diverse selection of account types to cater to their preferences. These include Mini, Standard, and VIP accounts, which are commission-free. Additionally, there are two ECN accounts, designed to offer tighter spreads but involving commissions.
Moreover, the platform offers swap-free (Islamic) accounts exclusively to clients who adhere to Islamic beliefs.
Fidelis CM Review: Trading Assets
The list of available assets is somewhat disorganized, and it requires extensive research to ascertain the offerings of this broker. Clients have the opportunity to engage in trading involving currency pairs, commodities, indices, and shares, although it’s important to note that cryptocurrencies are not included in their offerings.
Deposit and Withdrawal Methods and Fees
Fidelis CM asserts that investors have the flexibility to deposit or withdraw funds through various channels, including Visa, MasterCard, Neteller, WebMoney, Skrill, Yandex, Qiwi, and Fasapay, as well as bank wire transfers. It’s important to note that there are specific withdrawal conditions and associated fees.
For withdrawals below $5000, processing fees are applicable, and these fees range from 0.5 percent to 8 percent depending on the chosen payment method. Notably, FasaPay incurs the lowest processing fee at 0.5 percent, while the highest fee of 8 percent applies to withdrawals made via Yandex. Additionally, withdrawals through Skrill and Neteller are exempt from any fees.
How does the Fidelis CM scam work?
One common scam involves fraudulent Initial Coin Offerings (ICOs), where scammers create and promote new cryptocurrencies or tokens, promising significant returns to investors. Once unsuspecting individuals invest their money, the scammers disappear, leaving investors with worthless digital assets.
Ponzi schemes are another prevalent form of cryptocurrency scam, where fraudsters promise unrealistically high returns on investments, using funds from new investors to pay earlier ones until the scheme inevitably collapses.
Phishing scams, on the other hand, rely on deceptive emails and websites that mimic legitimate cryptocurrency platforms to steal users’ sensitive information, such as private keys or login credentials, enabling scammers to access and drain victims’ wallets. Vigilance, research, and skepticism are crucial tools for protecting oneself from falling victim to these scams in the cryptocurrency landscape.
Fidelis CM Review: Conclusion
If you’ve had any dealings with the Fidelis CM and have encountered issues or complaints, please don’t hesitate to report them. Fidelis CM has recently been found across numerous complaints, and we want to assure you that you are not alone in being a victim of the FidelisCM scam. Your reports are valuable in addressing these issues.
If you’ve become a victim of Fidelis CM, there’s no reason to be alarmed. Take proactive steps by submitting a complaint. Make use of our complaint form to report these fraudulent activities, and you’ll receive a free consultation from our experts on the procedures involved in recovering your funds.
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Note: The Fidelis CM review written above is totally influenced by the other Fidelis CM reviews already present on the web. We are not liable for any legal action from the Fidelis CM company. In case of any query please mail us at info@reportscam.tempurl.host.
