Is FalconTrades Legit or a Scam?

FalconTrades has several red flags that suggest it may be a scam broker. Here are some reasons to be cautious:

• Unregulated Broker: There is no evidence that FalconTrades is regulated by any reputable financial authority. This means there is no oversight of their activities and they are not accountable to any financial body.
• Unclear Ownership: Information about the ownership and location of FalconTrades is scarce or non-existent. Legitimate brokers will disclose their ownership and regulatory status.
• Negative Online Reviews: A quick search online reveals several negative reviews from users who claim to have had difficulty withdrawing funds or who have lost money trading with FalconTrades. (We’ll explore customer complaints in more detail later).
• Unrealistic Promises: If FalconTrades guarantees high returns or minimizes the risks of trading, this is a strong warning sign. Legitimate brokers will acknowledge the inherent risks involved in trading.

If you are considering using Falcon Trades, we strongly recommend you do your research and consider the risks involved. If you suspect any foul play, organizations like Broker Complaint Alert can offer valuable guidance and potentially connect you with recovery services.

What is FalconTrades?

FalconTrades presents itself as an online trading platform. However, due to the lack of transparency surrounding the company, it’s difficult to ascertain its legitimacy or the full range of services it offers.

Details:

If you have lost money to companies like IOP.cc or DuseryVIP, please report it to us on our Report a Scam form.

Deposits and Withdrawals: 

There is very little information available about FalconTrades’ deposit and withdrawal processes. This lack of transparency is a major red flag, especially considering the prevalence of negative online reviews alleging withdrawal difficulties.

Account Types:

It’s unclear what type of accounts FalconTrades offers or what features are associated with each account type.

Red Flags and Warning Signs

Here are some of the red flags you should watch out for when considering Falcon Trades:

• Unregulated Broker: As mentioned earlier, the lack of regulation is a major concern. There’s no guarantee of the safety of your funds and no oversight of FalconTrades’ activities.
• Unclear Ownership: The anonymity surrounding the ownership and location of FalconTrades makes them a risky proposition. Legitimate brokers are transparent about their ownership and regulation.
• Negative Online Reviews: Numerous negative reviews from users who have encountered problems with withdrawals or lost money trading with FalconTrades should raise serious red flags.
• Unrealistic Promises: If FalconTrades promises high returns with minimal risk, this is a strong indicator of a potential scam. Legitimate brokers acknowledge the inherent risks involved in trading.
• Difficult to Find Information: It’s challenging to find basic information about FalconTrades, such as their regulatory status, fees, and account types. This lack of transparency is a major red flag.

Customer Complaints and Negative Reviews

A quick internet search reveals numerous customer complaints about FalconTrades. Here are some common themes:

• Withdrawal Issues: Many users report difficulty withdrawing their funds from FalconTrades. This is a serious concern, as it suggests the platform may be a scam designed to trap user funds.
• Hidden Fees: Some users allege that FalconTrades charges excessive and unexpected fees that erode their profits.
• Unresponsive Customer Support: There are complaints that FalconTrades’ customer support is unresponsive or unhelpful when users encounter problems.