Is Fixed-Term.com Legitimate or a Scam? An In-Depth Review
In the ever-evolving world of online trading, discerning legitimate platforms from scams is crucial. This article evaluates Fixed-Term.com, focusing on its legitimacy and potential red flags.
Company Overview
- Company Name: Fixed-Term
- Website: fixed-term.com
- Registered Country: Unknown
- Regulation Status: Unregulated; claims of regulation are misleading.
- Operating Since: 2021
- Trading Platforms: WebTrader (no MT4 or MT5 available)
- 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 demo account offered.
- Customer Support Contact Methods: Email and live chat.
Red Flags Indicating It is a Scam
Unlicensed and Unregulated
Fixed-Term 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 to gain trust among potential traders.
Fake Reviews and Testimonials
Numerous reports suggest that Fixed-Term uses paid or fabricated reviews to enhance its reputation online, misleading potential users.
Withdrawal Issues
User complaints frequently highlight difficulties in withdrawing funds, a common tactic used by scam platforms to retain deposits.
Lack of Demo Account
The absence of a free demo account prevents users from testing the platform before committing real funds, which is a significant red flag.
Trading Platform and Conditions
Fixed-Term offers only its proprietary WebTrader platform. While it may seem user-friendly, it lacks the reliability and features found in established platforms like MT4 or MT5. The high leverage (up to 1:500) poses substantial risk for traders, amplifying potential losses. Users have reported issues with spreads and commissions that are not clearly disclosed upfront.
License and Regulatory Issues
Regulatory bodies such as the FCA have issued warnings against unregulated brokers like Fixed-Term. There are no records indicating that this platform holds any valid licenses. Furthermore, claims of affiliation with legitimate brokers appear unfounded upon investigation.
User Feedback
Common complaints from users include:
- Difficulty withdrawing funds.
- Poor customer service response times.
- Technical issues with the trading platform functionality.
Deposit and Withdrawal Methods
Fixed-Term offers limited deposit options primarily through credit cards and bank transfers. Many users report complications when attempting withdrawals, often facing delays or outright refusals after making deposits.
Why Unregulated Brokers Are Risky
Dealing with unlicensed brokers like Fixed-Term exposes traders to significant risks including:
- Loss of funds without recourse.
- Lack of legal protection against fraud.
Traders should be cautious when engaging with such platforms due to these inherent risks.
How to Get Help if You Are Scammed
If you suspect you’ve been scammed by Fixed-Term or similar platforms, consider services like Reportscammedfunds.com for chargeback assistance and legal support in recovering your funds.
Conclusion
In conclusion, we strongly advise against using Fixed-Term due to its unregulated status and numerous misleading practices. Traders should prioritize properly regulated brokers for their safety. If you’ve already fallen victim to this platform’s tactics, seek legal help immediately or report your experience through appropriate channels. Stay safe while trading!
