7SeasFX: Here are 5 important facts to keep in mind while trading with 7SeasFX.
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The fact that 7SeasFX.com was not a trustworthy broker and offered no real value was immediately evident to us. We did not anticipate, however, that it would be as horrible as we found.
7SeasFX.com truly does not make much effort in disguising its activities, which provides to demonstrate just how irritating these fraudsters have grown; they don’t even need to attempt to seem professional or authentic! We guarantee that you will lose every cent you invest with 7SeasFX.com. Moreover, 7SeasFX.com is a scam since its operators are too slow to do their jobs properly. This is evident due to the absence of any registration requirements. The registration form is either inaccessible to the general public or supplied only to selected customers, those who have previously been approached by 7SeasFX.com. One of the most powerful tools used by scammers is a technique known as solicitation.
It’s up to the website to decide our fate. There, we learn that there are five different kinds of accounts available.
The Basic account type offers a leverage of 1:1 and 1:2 for crypto assets, a 4 percent charge, and a minimum 2.4 pips spread. We don’t know how this fee is calculated or whether this broker just deals in cryptocurrencies or if they provide any other investments. Only crypto-appropriate leverages, commissions, and spreads (although smaller ones) are shown for the other account types. These trading circumstances are without reproach.
REGULATION AND MONEY SAFETY WITH 7SEASFX.COM
A broker that doesn’t bother to offer any legal material is particularly hazardous in our opinion since it has the confidence to operate in ways that are obviously corrupt, and 7SeasFX.com proved to be much lazier than we expected in its legal section.
The term “law” is used in the legal papers in the most ambiguous manner possible, with some passages implying that the user is controlled by the laws of the user’s own country while others state that the customer must apply for a license before dealing with 7SeasFX.com. This is meant to be a questionable use of semantics. The broker’s speech is meaningless since it serves no purpose.
Because of its invisibility, 7SeasFX.com is beyond the reach of any governing body. In this case, unless you happen to be a computer genius, you won’t be able to discover where it came from because of its invisibility. Do not invest with this fraudulent broker because you will lose all your money.
Losing all that money to scammers would be a huge disappointment. By signing up with and putting money into an unregistered broker, you are effectively wasting your money on something illegal and pointless. It would be foolish to act in such a way. That is why we recommend to our readers to trust European, UK, US, or Australian brokers—or any licensed organization, for that matter. Several of the hundreds of regulations governing licensed entities include cash compensation programs and anti-fraud efforts. These are the polar opposites of what this broker and others like it stand for.
TRADING SOFTWARE OF 7SEASFX.COM
All of the urls to that purported trading program take us to the login page, and all of us know how that ends.
Nevertheless, the website didn’t provide a good amount of information about the platform, so we’re left wondering whether there really is one.
DEPOSITS, WITHDRAWALS, AND FEES ON 7SEASFX.com
Because we get all of our billing information directly from the website, there’s a strong possibility it’s not accurate.
And thus, the minimum deposit is reported to be “up to $2499” in the account section for the basic account, but the legal paperwork claims it to be merely $200. The “up to” may suggest that beyond the $2499 maximum, the user switches the account type. Or it may simply be that the broker has no clue what he is talking about. This is something about which we are unsure.
Evidence to support the existence of a 5% withdrawal charge is uncovered. The user is also bound by the standard non-deposited money provision common to scammers, which prevents her from cashing out any of her gains.
Credit cards, debit cards, and wire transfers are all listed as acceptable payment and withdrawal options in the papers.
Overall, the payment information is quite vague and not to be trusted, much like the broker.
WHAT IS THE METHOD BEHIND THIS SCAM?
Whether a user is aware of being a victim of a scam or not, the initial step is always the same: closing the key information gap between themselves and the broker. In contrast to the fraudsters who will act as if they are close friends in order to get as much money out of you as possible, reputable companies will usually stick to the strict formalities required.
Professional scammers take advantage of the increasing complexity of financial instruments, and it’s easy to fall for their smooth language and end up empty-handed in no time. Hence, take your time and consult an expert before making any hasty decisions.
Professional scammers take advantage of the increasing complexity of financial instruments, and it’s easy to fall for their smooth language and end up empty-handed in no time. Hence, take your time and consult an expert before making any hasty decisions.
REMEDIES TO MAJOR SCAM ISSUES
Only credit or debit card users may submit a chargeback. That’s why investment scammers seldom accept cards. The good news is that MasterCard and VISA have 540 days to chargeback card investments.
We suggest contacting the bank to resolve wire transfer deposits. Change your bank account username and password immediately!
Cryptographic transactions are irrecoverable. Scammers are profiting as cryptocurrencies proliferate and their systems get increasingly complicated. Never trust unregulated brokers with crypto payments.
Furthermore, recovery agents are scammers. These third-party scammers or expansions of current scams will apparently trace your stolen money. Be aware!
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The views and opinions expressed in these articles are those of the source BROKERAUDIT.COM and do not necessarily reflect the official position of ‘Dr. Ronald Ashburn,’ which shall not be held liable for any inaccuracies presented. The information provided within this article is for general informational purposes only. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose.
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