Read about the CotextMarkets scam in this CotextMarkets review.
Introduction to CotextMarkets Review:
With so many scammers infiltrating the financial market, it has been a little too much on the plate for the regulatory authorities to evict the scam brokers and blacklist each and every one of them. To help speed up this process, we have started to review one scam broker every day and provide detailed descriptions of the red flags they raise so that you can stay away from them till the authorities catch hold of them.
Today, we are going to review one of the brokerage firms that we got a lot of complaints against – CotextMarkets. Claiming to be a top-class brokerage firm with the best set of options, CotextMarkets is one of the fishiest brokerage firms that we have encountered. if you are here intending to know whether CotextMarkets is a scam broker or a legitimate one, read the full review to find out.
Name: Context Markets
Website: CotextMarkets.com
Address: United Kingdom (claimed)
Regulation: UNREGULATED
Blacklisted: FCA
Leverage: Not Disclosed
Minimum Initial Deposit: $300
Rating: 1/5
About CotextMarkets:
According to the reports CotextMarkets is false and exceptionally hazardous concurring, it is focusing on individuals in the UK, US, Australia, and Asia. This firm has been set apart as a “high gamble” in our data set, It has an extremely Low Trust Index and a high likelihood of starting a Scam assault.
We will be discussing all the red flags raised against CotextMarkets in this CotextMarkets review. In this CotextMarkets review, you will get to know about the warning signs of CotextMarkets scams, and how to save yourself from scammers. Read our complete CotextMarkets review to know more about this broker.
COTEXT MARKETS IS UNREGULATED
The first thing anyone must look for in a brokerage firm is whether they have regulations or not. If a brokerage firm has a regulation, it gives the customers the protection of money as the regulatory authority closely supervises the firms if they are regulated. However, if the brokerage firm is not regulated, the money of the customers doesn’t have any protection and the company is free to do anything that it will. Upon checking their website, we found out that CotextMarkets claims to have a license from the FCA but it does not attach a screenshot or upload the license on their website. This looked fishy to us.
COTEXT MARKETS IS BLACKLISTED
Upon checking with the FCA, we found out that this top-tier regulatory authority has actually blacklisted CotextMarkets. In the warning statement issued by FCA, it was stated that CotextMarkets does not have a license from the FCA and the brokerage firm is a potential scam. FCA also stated that CotextMarkets is actually a clone of an FCA authorized firm. Being blacklisted by regulation should be enough reason for you to stay away from CotextMarkets.
HUGE MINIMUM INITIAL DEPOSIT
The minimum initial deposit demanded by CotextMarkets will blow your mind. CotextMarkets offers different types of accounts for their customers to choose from. The most basic account from these options was the bronze account and the minimum initial deposit of this was $300. This raises another red flag against CotextMarkets in this CotextMarkets.com review.
Conclusion: Is CotextMarkets a scam?
To conclude this CotextMarkets.com review, we leave it upon you to decide whether CotextMarkets is a scam or not. However, we warn you to stay away from CotextMarkets as it is a blacklisted brokerage firm and a scam. If you have been scammed by CotextMarkets, file a complaint with us and we will help in the money-back process.
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