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Why is Funda Markets a scam?

Started by Admin, May 18, 2023, 01:08 PM

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Topic keywords [SEO] scamMarketsFunda

Admin

This article has the following information:
  • What is known about Funda Markets;
  • Undeniable arguments that Funda Markets is a scam;
  • Less significant indications that Funda Markets is a scam.

What else is a must-have on a normal broker's site? Research tools! A trading floor must give clients access to analytical tools and resources. These can include financial news, analyst articles, corporate financials, technical analysis tools and more. These resources enable investors to make informed investment decisions rather than doing nothing at all. And how can one make normal investment decisions when all that is present at Funda Markets is a calendar? Real brokers make sure that their traders have everything they need to make informed decisions, because it directly affects the long term prospects of the partnership between them.

Comparing Funda Markets with a decent firm

There is some information in this snippet of material:
  • What an adequate brokerage firm's platform should look like;
  • What about the Funda Markets platform;
  • Comparison of a normal investor platform with what Funda Markets has;
.

What is known about Funda Markets

In a nutshell, practically nothing. The company was established in 2022. It is not known in what country it is registered. There is no good information for just over half a year of the firm's operation. There is only black information on the firm, but first things first. Volunteers decided to try and find information on the internet about the country where the legal address of the company was located, but they didn't find anything. Every serious company tries to be as open and transparent as possible and inform traders in order to make them aware of whom it intends to entrust their money, but as we see, the owners of Funda Markets do not think so.

From the beginning it was clear that the degree of qualification and expertise at Funda Markets was almost nil. Their platform was consistently unreliable, with regular technical failures and a user interface that could be described as clunky and confusing. This alone made operations frustrating, but the difficulties did not end there.

What other signs and evidence is there that Funda Markets is a scam?

As stated earlier, Funda Markets and its managers are no strangers to aggressive selling, insults, blatant incompetence, marketing tricks like guarantees of exorbitant earnings and inflated reviews. There is no legal data on the website of Funda Markets, not even an offer agreement, while there should be legal papers confirming the fact that the company has a license, registration papers, and probably some kind of awards. The situation is almost the same as with the reviews, they are all cookie-cutter. The fact that Funda Markets does not pay out money is a standard sign of a scam. Representatives of Funda Markets also spread bad signals, which are not only unrealistic to gain profit, but on the contrary, all the money is lost. Scammers often dump such signals to get more profit and higher commissions, although it is more relevant to representatives of real investment firms that engage in such fraud. But the very frequent technical failures of the Funda Markets platform are also a standard sign of fraud.

The most important fact that confirms that Funda Markets is a scam

No doubt we are talking about lack of regulation. The regulator has many functions including inspections of brokerage houses, specialist inspections, examinations of financial statements and traders and verification of the firm's solvency. But the most important task of the regulator is to prevent financial manipulation. Financial fraud could be anything, such as writing off a client's money without his permission, or using a trader's money for transactions he has not authorized. Before the crisis of two thousand eight and nine, the largest banking structures in the United States did this on a mass scale. Through the regulator, the trader can, for example, get his money back. The regulators have their own parameters according to which they check qualification of financial institutions, including trading companies. This, in turn, guarantees that qualified specialists cooperate with their investors. There is no regulation at Funda Markets, not even a brokerage license from some fake state structure.

Reviews for Funda Markets

What do the reviews on Funda Markets say? Purely about fraud and the blatant unqualification of Funda Markets employees. The ratio of positive to negative reviews is naturally in favour of the bad. The favourable opinions on Funda Markets are similarly not all that simple. The problem is that all the reviews are somewhat too formulaic and have been posted recently and around the same time. All this suggests that these favourable opinions are fake. Below is one such review:
"Funda Markets is a great company! The company has brokerage regulation. I earn 250-300% per month on my account and I spend ten minutes a day on trading. I recommend Funda Markets to everybody!
Really cool organization! The only one that has the ability to make a simple man a multimillionaire for a few years, because it will receive 150-200% every four weeks. We think it is already obvious that this is a fake review.
We took another review on Funda Markets taken from Reddit:
"Funda Markets is the coolest broker on the market. I don't understand why the broker is not number one in the EU and America yet! The service is top notch and the managers at Funda Markets are the smartest. I have been working with them for two and a half years now and everything is cool."
And we also can't understand why the broker under discussion is still not the best... among scammers.
Note that those people who have engaged in fake opinions don't even know themselves Funda Markets "provides services" for about six months, but no way several years that this person allegedly does business with Funda Markets. No pruf that confirms that Funda Markets employees are "very smart" is presented.

Now let's compare what Funda Markets offers with a normal average firm. How does a good brokerage platform have to work? A normal brokerage platform is the main tool for clients to access the financial markets and make informed investment decisions. A normal platform should have both cent and virtual not counting the basic one.

In addition, a very important feature of a cool trading platform is reliable security features. Ensuring the security of individual information and user funds is of utmost importance. A reliable brokerage platform should feature robust security practices, such as two-factor verification, security, and secure socket layer (SSL) methodology. All these and other things should firmly protect customers from scamming, stealing investments from the account or hacking into the brokerage platform itself with a big data leak. None of these things are anywhere near on Funda Markets' platform.
Worst of all, it had a tangible emotional impact on me. Not only have I lost a significant amount due to the worthlessness of Funda Markets, but the whole incident has left me feeling betrayed and deeply distrustful of the brokerage industry. I can't escape unpleasant memories of the countless hours used to sort out technical issues and compensate for financial losses caused by the fraudulent nature of this firm.

A quality brokerage platform should be available in both mobile and desktop versions. In today's fast-paced world, clients should be able to access their brokerage platform on the go. This, by the way, enables them to keep track of fast-changing situations and to quickly sell or buy an instrument when the opportunity arises. A quality platform should have an adaptive mobile application as well as a fully functional desktop version to meet all customer needs and aspirations.

A good investor platform should have a pleasant interface. A well-designed, intuitive user interface is essential for a brokerage platform. This ensures that clients can easily navigate the platform, manage their portfolios and complete transactions with ease. None of this is available on Funda Markets. Although we have seen many different platforms and it is something we are quite familiar with, it is still difficult to navigate on this platform alone, in spite of the considerable expirience.
A good investment platform should have a wide range of investment options. A good trading platform must offer a wide range of investment products, including stocks, bonds, ETFs, mutual funds, options, futures and other securities. This enables clients to protect their accounts against risk and gain access to different categories of instruments. There are quite a huge number of assets on the Funda Markets platform, but the problem is that Funda Markets fraud and dealing in these instruments is not really there, it's all artificial, like a game. Buying silver through the platform Funda Markets you actually do not buy anything due to the fact that Funda Markets has no license and therefore is not allowed to cooperate with the international exchanges and therefore you really do not buy anything through a broker on the exchange. By the way, the platform of Funda Markets not only has a useless usability, but the platform is also quite ugly from an aesthetic point of view.

When it came to the basic aspect of customer support, I was really pissed off. Their managers were either unresponsive or incapable of addressing my difficulties with any semblance of professionalism. I realised that I was talking to a chat-bot and my requests for help were unheeded. When I needed help urgently during a spike in quotes, I found myself in a difficult position, which ultimately resulted in me losing a huge amount of money.



Consequences of working with Funda Markets

What happens in a situation where you or someone else ignores all the evidence mentioned in this material and wants to try to partner with Funda Markets? Let's imagine it. Take a review of Funda Markets from the Reddit forum:
"I am leaving this review to share my personal unpleasant experience with Funda Markets and to keep possible victims safe before they even consider giving their hard-earned money to this company. In my many years of trading experience I have never dealt with a worse brokerage firm, and it has given me a nasty taste in my mouth and a huge decrease in confidence in the industry in general.

Subjective experience with Funda Markets

What has been said above is already enough to draw a correct conclusion about the essence of Funda Markets. We decided to take a look at it ourselves to be 100% sure.
We left the contact details and a representative of Funda Markets called us back and immediately started to persuade us to deposit a large amount to our account. During the dialog the manager of Funda Markets was playing with aggressive sales techniques, some silly flattery. We deposited the account for a minimum amount of 25$ and tried the signals of this broker. What happened next? We lost most of the money in a couple of trades and decided to withdraw the money, but we did not get it back. The Funda Markets manager called again and tried to dissuade me from withdrawing the money and moreover to deposit the account again and make trades and according to him if I had done that I would have been compensated. It is unclear why the managers could not refund the money immediately without me giving them my personal money again. Obviously if I had done so, the managers would still not have withdrawn the money, not a dollar.

Entrusting your money to Funda Markets is a decision you will no doubt worry about, as I have at the moment. I am left with the sad reality that this is the worst thing that could have happened to me as a trader and I think my experience is a familiar stopper for others who, are considering giving their money to this ugly brokerage company."

As we have seen, not only did the trader lose money and nerves, but he did not get any good trading experience, only disappointment in forex. If you look at the other opinions, they have basically the same content. The most common complaint is that Funda Markets does not withdraw money. Investors also talk about the total lack of expertise of Funda Markets' employees. After reading the reviews of Funda Markets we have also repeatedly encountered reports that Funda Markets managers have been using clever and offensive language in their communication with clients. A review for an adequate brokerage organization should say otherwise, or at least it shouldn't be that bad. In short, the reviews on Funda Markets also clearly show that Funda Markets is an obvious scam.

Conclusions

You have seen everything with your own eyes. Funda Markets stands out even among the scams. The company is so awful that there is no place to put a stigma on it. The opinions on Funda Markets, which don't seem to be rigged, are filled with criticism. Victims often shout that they do not get their money back, managers are abusive, the platform is uncomfortable, almost always glitches, there are only negative memories of cooperation with Funda Markets. If you do not want to be involved in the same fate as the other traders, do not leave even personal data on the website of Funda Markets, or if you have already done so, block the investor numbers immediately and do not respond to them. If you take the risk of discussing anything with the managers, there is a risk that scammers with their skills and experience of trickery will be able to wrap you round their fingers and take your hard-earned money. Because scammers are not only offering investment solutions, they are trying to gain the trust of their victims by befriending them and enticing them with the promise of higher earnings.