Is Stellarfx a scam or legit broker? Read Stellarfx Review
Stellarfx is the latest in a long line of scams run by Eudaimon Consulting LLC, a well-known offshore company. Its website is https://stellarfx.io/ and St. Vincent and the Grenadines serve as the company’s headquarters. Due to the SVG regulatory body’s lack of control over the forex market, this is one of the favored websites of shady brokers.
As a result, the brokers who operate there and are regulated are free to do their business as usual as nobody is in charge of monitoring it or imposing any regulations.
Stellarfx has received two warnings, as we’ve already highlighted.
The German regulatory authority BaFiFederal Financial Supervisory Authority (BaFin) issued one, and the Italian regulator Commissione Nazionale per le Società e la Borsa (CONSOB) issued the other.
According to BaFin, “In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) would like to make it clear that Eudaimon Consulting LLC does not have authorization under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin. The information provided on the company’s website, stellarfx.io, gives reasonable grounds to suspect that Eudaimon Consulting LLC is conducting banking business and providing financial services in Germany without the required authorization.“
It is obvious that a company is fraudulent when such powerful and stable government regulators warn against it, and you should avoid doing trade with an unauthorized broker.
Possible scam activities of Stellarfx
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this Stellarfx review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative Stellarfx Reviews and Complaints
Stellarfx has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
Example of Negative Stellarfx Review
After Searching internet you will find many negative Stellarfx Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and Stellarfx reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
Scammed by Stellarfx? How to get your lost money back from Stellarfx?
The best solution recommended for getting your lost money back from Stellarfx is Report Scam Community
It is one of the few legit recovery assistance organizations which are actually concerned with a victim’s recovery from losses. They are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free Consultation and anyone can register by filling a very short complaint form.
Stellarfx Review: Conclusion
To begin with, Stellarfx is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
Facebook Page – Visit – ReportScam Community
Twitter – Report Scam Forum
Instagram – Reportscamcommunity
Note: Report Scam Community has conducted many researches before flagging Stellarfx as a possible scam in this Stellarfx Review.Are you planning to trade with Stellarfx and invest your money? Report Scam suggests you to read this Stellarfx Review first.