Fake Forex Site - 5starsforex.com

[AlanJones]

Fake Forex Site - 5starsforex.com who like to spam forums advertising their fake site.

5 Stars Markets Ltd
Suite 118, Orion Mall, Victoria, Mahe, Seychelles.
International Business Company

TECHNICAL ASSISTANCE
[email protected]

CLIENT SERVICES
[email protected]

BECOME OUR PARTNEERS
[email protected]

Call Us Loacally At:
Sweden:
+46852503456

Australia
+61280466411

Japan
+81368908658

Canada
+16476942689

Brazil
+556140421259

Bahrain
+97316196189

Site has no mention of being regulated anywhere to provide the services that they provide or with the relevant data protection authorities.

The domain is anonymously registered and the address in the Seychelles appears to be an accommodation address judging by all the other companies that seem to occupy the same suite.

Some highlights from their site

5StarsForex is a leading provider of online trading services. Established in 2014, 5StarsForex is providing traders a world-class trading experience worldwide.

5StarsForex provides it’s traders with personalized Forex training programs, Dealing Room specialists, the best Introducing Brokers and Partners Programs with innovative and competitive Partners offerings. 5Stars Forex provides it’s traders with the best spreads in the whole market, the fastest execution possible, the best bonuses and promotions among all other brokers, fast deposits and withdraws, and many more qualities traders enjoy with 5StarsForex.

5starsForex believes that the ECN/STP Forex Module benefits all the foreign exchange participants, 5StarsForex worked hard in the making the world of Forex more transparent with greater control for the traders.

5StarsForex have multiple liquidity providers and built solid relationship with some of the world’s largest banks and financial institutions to make our clients benefit from competitive Forex spreads even during volatile markets and news release.

5StarsForex clients can benefit from round-the-clock coverage delivered by one of the world’s largest and most accomplished global client coverage team. 5StarsForex clients enjoy the widest suite of products to offer the best pricing, execution and liquidity, daily market news feed and insightful research give the clients access to the best information and date to make informed trading decisions.

5StarsForex have eliminated all conflicts of interests with our clients and adopted a business model that aligns our interest with the clients’ interests, this incentivizes us to provide our clients everything they need to become better traders.

Strangely, at least one of the banks that they claim is a liquidity provider has never heard of them.

Executive Management | Board Of Directors
Dr. Jonathan Thompson PHD

Chairman & CEO

Executive Director

Dr. Thompson founded 5StarsForex in 2013. During his career as a Managing Director of one of the leading Australian Banks, Dr. Thompson was born in 1958 in Sydney Australia and in 1980 graduated from The University of Sydney holding a Bachelor Degree in Business and Finance and in 1984 graduated from the same University holding a Master Degree in International Trade and Finance and in 1990 Graduated from University of New South Wales holding a Doctorate Degree.

Since 1980 Dr. Thompson worked as a banker and climbed the corporate ladder from a finance account manager to Managing Director, with years of hard work and dedication to the positions Dr. Thompson gained he decided to put the great experience in this field into his own business and found 5StarsForex.

Dr. Thompson married to Dr. Angelina Thompson with two children Michael and Debbie Thompson

Evdokia Giannopoulou

General Manager, Chief Compliance Officer

Miss. Giannopoulou began her career in the financial sector right after graduating from the University of Sydney with a bachelor degree in finance, Miss. Giannopoulou served as Director of Financial Services and Chief Compliance office with a leading UK and Cypriot Forex Brokers, and a holder various professional certificates issued by Major Regulators.

Dr. Viktoriya Zolnerowich PHD

Chief Operating Officer

Graduated from the Saint Petersburg State University, moved to Australia and gained Master and Doctorate Degree in Business and Finance, worked with Major Banks in Australia and Major financial institutions, a close friend of the Thompson family.

Nuan Jiang

Chief Marketing Office

Miss Jiang hold a Master Degree in Mathematics and Finance from California State University, managed the risk of major Australian Banks.

From their T&Cs

Governing Law
In the event any of the terms or provisions of these Terms and Conditions shall be held to be unenforceable, the remaining terms and provisions shall be unimpaired and the unenforceable term or provision shall be replaced by such enforceable term or provision as comes closest to the intention underlying the unenforceable term or provision. These Terms and Conditions shall be subject to any other agreements you have entered into with 5Stars Forex. The user's access to and use of the Website, and the terms of this disclaimer are governed by the laws of 5Stars Forex.

Apparently, 5Stars Forex have decided that they are able to invent their own laws and not be governed by the laws that the rest of us are - I'll be waiting for the 5Stars Forex Police to arrest me for illegally visiting their site.

Bravo

[AlanJones]

It's interesting what you can find when you go digging around in the archives of the Internet. Back in March, scammers 5starsforex.com were operating from a PO Box in the Seychelles and a number of countries that they no longer seem to claim to be present in

5 Stars Markets Ltd
P.O. Box 5959
Victoria,Mahe Seychelies

Call Us Loacally At:
Spain:
+34911230331
Austria:
+43720884955
Sweden:
+46844680433
Australia
+61284172404
New Zealand
+6468880085

You know - forex dealing is actually one of the simplest trades known to man, but you wouldn't think so from this wording.

Bonus of 50% of the Deposit Amount up to $10,000
Rescue Withdraw Bonus means it is a Balance Bonus, not a Credit Bonus, It can be withdrawn if a certain number of lot traded.
The Bonus will support the Margin and Will Hold the Positions Open till the Stop Out level reach by the total balance The Deposit and The Bonus.

.. and that's only half of it.

I defy anyone to have the slightest clue as to what any of it means and I used to deal for a major UK bank.

I had traded with 5Stars Forex more than 1 year I think 5Stars Forex is the best broker among others broker in Forex business because of their good reputation in Forex world, I started to trade in a demo account to gain experience and after a couple of months I open real account and made lots of profit and withdraw easily.

Here are some good points:
• Multiple assets and accounts (zero spread and zero commission)
• NO withdraw/deposit fee and instant deposit. Withdrawal normally gets processed in 24 hours.
• Tight spread, most major has nice spread as EUR/USD and GBP/USD pairs
• There are PAMM and daily analysis services.
• 50% rescue withdraw bonus
Overall, I recommend this broker.


This review is the subjective opinion of a member and not of Scamwarners.com (who, quite frankly, don't believe it)

[AlanJones]

I had traded with 5Stars Forex more than 1 year ... blah blah blah, more fake testimonial

That is quite some going you dumb scammer, to have managed to trade with a company for more than a year when their website was registered less than a year ago.

There's a great customer support in 5Stars Fore, one of the most effective I've ever encountered. I address them from time to time with my issues and problems and they always solve them in less than no time. What I like especially is the variety of depositing and withdrawal methods, many of them are without commission fees. They But Strange part, What's wrong with you some people They shared bad about 5Stars Forex however I had not found Any loses and serious problem even me and my friends are trade with 5Stars Forex from different countries we all are in profit and took our profit amount timely. I think all unsuitable complaint are from bad competitors to down successful and real broker. 5Stars Forex recommend this SMART Broker for all SMART traders.

This review is the subjective opinion of a member and not of Scamwarners.com (who, quite frankly, don't believe it)

[AlanJones]

The various certificates on scam website 5starsforex.com claim to have been issued to "5 STARS MARKETS LTD LONDON, LONDON GB". There is no such company registered with Companies House.

[AlanJones]

There's a great customer support in 5Stars Fore, blah, blah

Typical scammer actions, trying to hide the truth about their operation with lots of fake testimonials.

Keep it up dumbass, you are only increasing the popularity of this thread so that all your potential victims can see you for the frauds you are.

They really shouldn't draw attention to themselves

FAQ's

21. What currency can I trade with MTrading?
MTrading offers all major currency pairs, exotic pairs, precious metals and CFDs for trading.

MTrading ?

Having trouble deciding who you are ?

This set up only works when there are a lot of unsophisticated people with free cash to invest, which isn't the case currently and, if they do exist, they're investing in property, not foreign exchange. The only loser is the person who invests in this software thinking it's an easy way to take money off gullible victims. I'd ask for a refund if I were you.

5Stars Forex claimed headquarters address in Sweden is in reality a Virtual Office at :

1Office Sweden

Wallingatan 34 111 24 Stockholm


http://1office.se/en/contacts/

If you do a little research it isn't difficult to uncover who is behind this website and a whole slew of similar irregular Forex websites. The operation is based in Cyprus which is a hotbed for many of these dubious set ups.

The simple fact and truth is that no one should ever trust their money to any financial entity without doing some background investigation and, if they are not properly registered and regulated in the country where the investor/depositor is based, do not touch them. You will lose your money.