Investors Reported 5Markets is A Complete Scam

A Complete Scam

There are a lot of traders who reported their bad experience in 5Markets. The company cheated them and refused to give their money back.

An Offshore Forex Broker

5Markets claims it is operated by Uncany Services LLC, a company registered in St. Vincent and the Grenadines under the registration number 1499 LLC 2021. We did find a match result to Uncany Services LLC in the St. Vincent and the Grenadines Financial Services Authority (SVG FSA). However, SVG FSA does neither issue licenses for forex trading nor regulate any forex activities. This broker is merely a registered broker in SVG FSA that operates under no regulations.

CNMV Remarks 5Markets as an Unregistered Firm

On 21 March 2022, the Spanish regulator CNMV released a notification that 5Markets has not been authorized to carry out forex investment services and activities in Spain as a lack of authorisation. If clients invest their funds in the firm, they are unlikely to get their money back if things go wrong.