Many of you have certainly heard of “FXT” lately, and a number of stars in Vietnamese showbiz have posted advertisements about coins including FXT on their personal pages. So let’s find out what FXT is using CoinCu and whether or not it is a scam!

What are Forex Trading Markets?

The forex market has long been a very “fertile” market for professional traders with endless opportunities to make money. Hence, many unhealthy business models aimed at everyone’s greed have also been born, and FX Trading Markets is one of them too.

According to information posted on the FX Trading Markets website, it is a trading platform with the full name FX Trading Markets Limited specializing in the development of forex (forex trading) on ​​blockchain based in the UK (London). ), has the operating license number 11969799 and has been in operation since April 30, 2019, i.e. for over 2 years. As far as I know, however, money can be used to buy such licenses, so it makes little sense to have a license or not.

How FX Trading Markets Works

This platform is also being developed and operated by the L *** Group “extremely powerful” ads. The platform is operated as a media forex broker in conjunction with Binary Option. And as far as everyone knows, this form of binary option (binary option) is no different from the 4.0 game.

To start trading at FX Trading Markets, you need to create a new trading account under the referral link. The first step, the floor, creates trust for traders by giving them experience with a demo capital of around USD 1000. Then an instructor will appear to help you make real money deals that will make quick profits. It’s easy to make money, but it’s also quick to make money. You all know this is a “bad” project.

According to the disguised advertisement of the L *** Group, investors just need to deposit money and then “sit and eat a bowl of gold” with a profit of 1% / day (excluding compound interest) – Forex Robot of the Floor will do it for you, after all Your job is to just sit and eat. There is also a promise to just win and never lose, which is completely absurd for an ever-changing market like Forex. There have been many times that the national television broadcaster VTV has warned people about this scam model disguised as Forex.

During the transaction, the L ** Group will give training teams to investors on how to make money and promise a profit of 1% per day, with interest paid directly to the trader’s account.

Comments on the Fx Trading Markets Floor: Even in the form of operation, FX Trading Markets does not turn out to be transparent, on the contrary, the Floor has hidden actions for the assets of the respective investors. This is one thing that fraudulent forex brokers do.

What are FXT tokens used for?

FXT is a token on the exchange and is used to pay interest to investors. FXT is also only traded within the Lion Group and the FXT exchange. If there are no internal buyers or the stock exchange ceases operations, investors lose money.

Is Forex Trading a Scam?

As mentioned above, investors are trained to make money from a team that is supposed to be experts who are experienced in the market. They meet every day through the Zoom application. These experts will require investors to deposit real money to convert virtual currencies and start trading.

In addition, they also formed a group on Telegram to share news from the market. Initially, investors will make a lot of profit, but the end result after a trading period is usually a loss and account loss. Because as I said at the beginning, the model is no different from Tai faint 4.0.

In addition, according to VTV, this exchange works like a disguised and unlicensed multilevel model with unreasonably high interest rates. Although it is considered an “international” floor, according to traffic statistics from Similarweb, more than 90% of users are from Vietnam.

FX Trading Markets fake ForexTime (FXTM) trading platform

In addition to being suspected of being a fraudulent broker, FX Trading Markets was once suspected of being a fake ForexTime trading platform.

ForexTime (FXTM) is a very reputable UK exchange. This is a long time and well known broker in the forex market. However, more recently, FXTM has accused FX Trading Markets of posing for personal reasons. In detail, the warnings from FXTM are as follows:

With the above information alone, you probably already know whether or not FX Trading Markets is a scam. And up to now (June 27, 2021) the FX Trading Markets has ceased operations indefinitely. It also means that the exchange’s FXT token is roughly zero and investors are almost losing their fortunes.

The end for FXT

This is a photo that has been spreading quite a lot on Telegram lately.

epilogue

With all of the above compiled by CoinCu, you probably already have the most objective view of the FX trading markets’ exchange in disguise. CoinCu also apologizes if this reader has lost money on this exchange. Through this review, CoinCu advises investors to be really careful when choosing an exchange to avoid unnecessary losses.