Is Feeling.me a Legitimate Trading Platform or a Scam?
In the ever-evolving world of online trading, discerning legitimate platforms from scams is crucial. This article evaluates Feeling.me, focusing on its legitimacy and potential red flags.
Company Overview
- Company Name: Feeling.me
- Website: feeling.me
- Registered Country: Unknown
- Regulation Status: Unregulated; claims of regulation are misleading.
- Operating Since: 2021
- Trading Platforms: WebTrader (no mention of MT4 or MT5)
- Leverage Offered: Up to 1:500
- Minimum Deposit/Deposit Bonus: Minimum deposit of $250; no deposit bonus mentioned.
- Available Assets to Trade: Forex, Crypto, Commodities, Indices
- Demo Account Availability: No free demo account available.
- Customer Support Contact Methods: Email and live chat.
Red Flags Indicating It is a Scam
Unlicensed and Unregulated
Feeling.me claims to be regulated but lacks licensing from any reputable financial authority such as the FCA or ASIC. This raises significant concerns about its legitimacy.
Misleading Information
The platform may falsely assert connections with legitimate regulated entities, which can mislead potential traders into believing they are dealing with a trustworthy broker.
Fake Reviews and Testimonials
Numerous reviews appear overly positive and may be fabricated or paid for, casting doubt on their authenticity.
Withdrawal Issues
User complaints frequently highlight difficulties in withdrawing funds, a common issue with scam platforms that aim to retain deposits.
Lack of Demo Account
The absence of a free demo account prevents users from testing the platform before committing real money, which is another red flag.
Trading Platform and Conditions
Feeling.me primarily offers its proprietary WebTrader platform. While it boasts high leverage (up to 1:500), this comes with increased risk. Users have reported issues related to spreads and commissions that are not clearly disclosed upfront. The reliability of the platform has also been questioned by several users.
License and Regulatory Issues
Regulatory bodies like the FCA have issued warnings against unregulated brokers like Feeling.me. There is no evidence supporting any claims made by the platform regarding affiliations with legitimate brokers, further solidifying its untrustworthy status.
User Feedback
Common complaints include:
- Difficulty in withdrawing funds.
- Poor customer service response times.
- Technical issues with the trading platform functionality.
Deposit and Withdrawal Methods
Feeling.me offers various deposit methods but has received negative feedback regarding withdrawal processes. Many users report delays or outright failures when attempting to withdraw their funds, raising serious concerns about the platform’s integrity.
Why Unregulated Brokers Are Risky
Dealing with unlicensed brokers poses significant risks:
- Loss of funds without recourse.
- No legal protection for traders.
- Increased risk of fraud due to lack of oversight.
How to Get Help if You Are Scammed
If you suspect you’ve been scammed by Feeling.me or similar platforms, consider services like Reportscammedfunds.com for chargeback assistance and legal support in recovering your funds.
Conclusion
In conclusion, traders should exercise extreme caution when considering using Feeling.me due to its unregulated status and numerous misleading practices. It’s advisable to choose properly regulated brokers for safer trading experiences. If you’ve already fallen victim to this platform’s tactics, seek legal help immediately or report your experience through appropriate channels. Avoiding such platforms can save you from potential financial loss in the future.
