Website: http://fusion-fx.com/, fusion-fin.com
Regulated By: None
Warned By: Commissione Nazionale per le Società e la Borsa (CONSOB)
Introduction to Fusion FX
Fusion FX is an online forex trading broker. Fusion FX Limited and Fusionfx24 Inc. own it. The address mentioned is 27, Market Place, W1W 8AF, London, UK. Its phone number is not working (as usual with scam brokers when they are caught). The email ID given is email@example.com. In our Fusion FX review, we found that it is a fraud company and blacklisted in Italy by CONSOB.
Get the trader’s opinion
The initial step to protecting yourself from Fusion FX scam or any other company is to do a careful and detailed study of the companies/broker firms in which you are supposed to invest. There is a possibility that other traders/investors have used their services in the past. Many of them may have expressed their feedback and opinion in various forms.
After doing some detailed research on different available social media platforms, like Twitter, Facebook, Instagram, etc. a general pattern emerges regarding the concerned brokers. If many reviews of the concerned firm are, negative it is better to stop thinking to invest through that firm. There are many numbers of dissatisfied investors/traders with Fusion FX. Based on the feedback and comments one can say Fusion FX is not a worthy broker.
Many brokers are operating under fake company names. They may have other fraudulent operations too. A little bit of preliminary investigation goes an extended way in protecting your funds.
Fusion FX scam
The most important thing while trading with any broker is to know their certification. If they are regulated then there is not much problem. In case, they are unregulated; then be aware and be cautious. Fusion FX is unregulated and is offshore-based.
If a company or firm is operating from offshore that is outside of your jurisdiction you have limited chances to fight back if your funds are swindled. In an event of theft or scam complaints can be filed only if the broker is authorized by regulatory authorities in your jurisdiction.
Check for the company at the well-known regulator’s website.
Well, known regulatory authorities are CySEC (The Cyprus Securities and Exchange Commission), IOSCO (International Organization of Securities Commissions), FCA (The Financial Conduct Authority), SEC (Securities and Exchange Commission), ASIC (The Australian Securities and Investments Commission), SEBI (Securities and Exchange Board of India), CONSOB (Commissione Nazionale per le Società e la Borsa) and many more.
It is better to avoid brokers who are not licensed by the regulatory authorities in your jurisdiction even if they are regulated somewhere else.
How Fusion FX works
One of the tricks used by online Fusion FX scam brokers is in your initial trades they will show you only profitable trades. By this, the investor/trader gets a false notion of confidence. By this time, the investor is “hooked” to getting easy money. Once the investor gains confidence, the broker gives an idea to invest more money. The brokers try to pull your family member or your friend into this game. Other incentives provided are like reference bonus, introduction bonus, etc. to get your family/friends involved in the game.
Once the brokerage is satisfied that he cannot extract more from you, they suspend the account on some pretext or the other. You will no longer be able to withdraw your funds.
Many online brokers websites are fabricated
Many brokerage firms display fake regulatory licenses. They work on fake/fabricated websites and improve their worthiness with unsuspecting traders.
Report Scam Community put together a convincing chargeback strategy starting to end. Online fraud victims have a relatively a better chance of recovering their funds, partially or fully.
Let it be known to all, that a chargeback process is complex and a drawn-out process without proper knowledge and guidance.
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