Introduction to Forex Birds Review:
Forex Birds claims to be a regulated brokerage firm with customers from all corners of the world. When a brokerage firm introduces itself as a regulated firm in the first line itself, there is something definitely suspicious about them. With a few brags and interesting offers to the customers, Forex Birds managed to attract our attention towards their firm which is a potential scam. If you have been scammed by Forex Birds, make sure to share your experience in the comments below. If you are here with the intention of knowing whether Forex Birds is a scam or not, read this Forex Birds review.
About Forex Birds:
In this section of Forex Birds review, we will be discussing all the red flags present in Forex Birds.
NOT REGULATED BY ANY REGULATORY AUTHORITY
Forex Birds claims to be the brainchild of Forex Birds Limited which in turn is regulated by the Financial Conduct Authority or the FCA of the UK. However, it only took us a little while to figure out that all of these were mere lies. Forex Birds is not regulated by FCA and is originally based out of Saint Vincent and the Grenadines. For those of you who don’t know, places such as Saint Vincent and the Grenadines are offshore zones and do not have a regulatory authority present. Therefore, no broker based out of offshore zones can be trusted.
HIGH LEVERAGE OFFERED
Forex Birds offers different leverages to the different account holders. The four different types of accounts offered by Forex Birds are ECN Account, Standard Account, Premium Account, and Prime Account. The leverage offered in the ECN account is 1:100 which is much higher than what is considered the limit. Furthermore, Forex Birds does not reveal the leverage offered in the other three accounts. The high leverage on one account and not disclosing other leverages are two red flags we found in this forexbirds.com review.
DEMO ACCOUNT FAKE
Even though Forex Birds promises its customers a free demo account, things are not what they seem like. Upon trying their demo account, we found out that the offers and spreads given in their demos account seem too good to be true in the financial market. This gives us another red flag in this Forex Birds review.
Conclusion: Is Forex Birds a scam or legit?
To sum up, all that has been stated in this review, we leave it upon you to decide whether Forex Birds is a scam or not. If you have been scammed by Forex Birds, fill in the form above and we will help you claim your money back. To read more such interesting scam broker reviews, visit our homepage and stay tuned as we publish one review every day.
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