Utilityfx247 Review – Is Investing in Utilityfx247 Safe?
Utilityfx247 Broker might appear to be a promising investment platform, and you may have come across recommendations in emails, social media posts, forums, or chat groups. But the real question is – is Utilityfx247 a trustworthy and regulated broker? Let’s uncover the truth.
Is Utilityfx247 Broker Regulated?
Utilityfx247 Broker is NOT a trusted or regulated broker. It does not hold a license from any top-tier financial authority, meaning it does not follow strict investor protection rules. We strongly advise against opening an account with Utilityfx247. If you want to stay safe, always trade with brokers regulated by reputed authorities such as FCA (UK), ASIC (Australia), or CySEC (Cyprus).
About Utilityfx247
Company Name – Utilityfx247
Utilityfx247 Website – https://www.utilityfx247.com/
Address – 55-61 HIGH ST SE9 1TD ELTHAM Unitied Kingdom.
Regulatory Warning – Financial Conduct Authority (UK)
Domain Blacklisted Status – It seems there is no direct mention of this domain being on a blacklist.
No Regulation
Several investigations suggest that Utilityfx247 is operating without a government license. They try to suggest that they are regulated and that their website provides legitimacy, but when contacting some of the top regulators (including the FCA), it is apparent they do not possess a license; therefore, there is absolutely no government protection for clients.
Customer Experiences
Following the deposit of funds, clients report similar experiences and red flags. In instances where clients deposit funds into their Utilityfx247 account but do not see those funds transferred to their trading account, they often reach out to Utilityfx247, but find their account has been disabled without any explanation. This conduct is evidence that UtilityFX247 is attempting to prevent clients from withdrawing their own funds.
Unfavorable Reputation
Utilityfx247 has an unfavorable rating on Trustpilot, with several reviews noting issues with withdrawing funds, undisclosed terms and conditions, and poor customer service. The nature and frequency of the issues noted suggest these are not unusual or rare experiences with the platform.
Utilityfx247 appears to have all the signs that it is a scam. In addition to false claims of regulation, it also blocks investors from accessing their accounts after making their deposit. Investing in this broker is high risk. Investors are urged not to engage with this broker at all, as the potential for recovering lost deposits is very rare.
Beware! These Scams Are on the Rise
There are different types of scams, and what is more, they have been unified to a very high level so that they target common people at varied venues. Here are common scams you should know about:
It’s possible to create fake profiles, phishing links, or other impersonation tactics aimed at stealing personal data, hacking your accounts, or persuading people to send money.
Scammers promise extremely high returns, and then disappear with the investment process; scams also come in phishing attacks, which target crypto wallets to steal digital assets.
Lure and entice a trader with talk evincing profit and their fantastic trades for unregulated forex brokers and open signal providers, only to manipulate the trades or close access to withdrawals.
These scams entail building a relationship around a victim through dating apps or social media to win the individual’s trust before asking for some funds.
Scammers do run scams on Instagram, Twitter, and TikTok for different purposes. They fabricate investment schemes, phishing links, and identity theft-based tactics.
How Scams Report Can Assist Victims Get Their Funds Back
If Utilityfx247 Broker is scamming you then you are not alone. Contact us! Our expert team provides:
- Free Consultation: We analyze your case and advise on the best recovery strategy.
- Chargeback Services: If you paid through a credit card, we assist in initiating chargebacks to reclaim your funds.
- Crypto Recovery: We provide specialized crypto fraud recovery solutions for victims who lost money through digital assets.
- Legal Guidance: We connect you with trusted legal partners to escalate fraud cases.
About Scams Report
Scams Report is an authentic platform that offers financial fraud victims assistance in fund recovery services, legal guidance, and chargeback. We aim to help individuals recover lost funds and make informed financial decisions. With informative blogs that are regularly updated, we expose fraudulent brokers and investment scams; thus creating awareness and safety among traders worldwide.
We have continually monitored these emerging scam tactics on the internet to lure new traders. Over a decade of experience tracking activity from scams has given us a wide database of this dishonest company’s data. Our List of SCAM Brokers is solely for you to identify and avoid them in the market.
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Disclaimer: This review is based on online reports and customer complaints. Always research carefully before investing with any broker.
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