✔️ Information reviewed and updated in April 2024 by Pedro Martínez González
In this section we will tell you why You should NOT invest in 5markets. We analyze the website, we observe every detail and we examine the main characteristics that are taken into account when choosing a good broker such as the location, the company to which it belongs, its regulation, its reputation…
A pocas palabras WE DO NOT RECOMMEND IT. Below we will show you essential information about 5markets and we will tell you why we reached such a conclusion:
Basic Information
| 🌐 Website | 5markets.co – 5markets.io |
| 🏠 Company | Uncany Services LLC |
| ️ Regulatory | Not regulated |
| [email protected] | |
| 📈 Leading | Web trader |
| 📌 Location | San Vicente y las Grenadines |
⚠️ 5markets is owned by Uncany Servives LLC, the company is located in Saint Vincent and the Grenadines, a potentially dangerous tax haven for its clients due to its lack of regulation and lack of seriousness. Clients are unprotected. ⚠️
Account types
Now we will analyze the types of accounts offered by 5markets, in this case, we observe that it offers 3 different types of accounts:
| Account type | Minimum initial deposit |
| Student | $500 |
| Pro | $2.000 |
| Pro+ | $20.000 |
Information on the web
5markets provides a basic explanation about the financial products it offers, economic calendar, charts, FAQ section, not much else.
List of phone numbers
At the moment we have not found phone numbers.
🚫 Final evaluation of 5markets 🚫
Finally, and in a few words, our recommendation is: DO NOT INVEST WITH 5markets.
As we mentioned before, it is a financial company located in a place where you will not have protection from the law in case of being harmed, that is, you will not be able to claim anyone if an unfortunate event occurs such as the sudden loss of your funds or the closure of the company.
In case of problems, it is most likely that the authorities of your country will not be able to do anything. As a client of this company you are unprotected!
Investing with unregulated brokers or brokers based in such countries is very risky. It is best to invest with a regulated broker, based in a serious country.
Updates
News about 5markets:
| Date | Update – news |
|---|---|
| March 2022 | Complaint against 5markets of CNMV. |
| April 2022 | Complaint against 5markets of CONSOB. |
| May 2022 | Complaint against 5markets of CNMV. |
| September 2022 | Complaint against 5markets of CONSOB. |
| November 2022 | Complaint against 5markets of BCSC. |
| November 2022 | According to customer messages, the 5markets broker is operated by the same company that manages neotradefx |
| May 2023 | The company is associated with MorganFinanceA company with a bad reputation. WE SUGGEST CAUTION. |
User Reviews
What is your opinion? We invite you to collaborate with us and vote. You can also leave a comment about your experience with 5markets.
At the end of the review you will find customer comments.
How to Claim Money scammed by 5markets
If what you want is to know how to claim your capital, if you have been scammed, further down in the FAQ section you can find our advice.
How to Report 5markets
If you feel dissatisfied with the service provided by the company, and for some reason you want to report it, below, in the FAQ section, you can find the best way to report this company.
FAQs
How can I report 5markets?
This depends on where you are, you should go to the financial regulator in your country. Write us a comment on this review and we will help you.
Is 5markets a scam – is it a scam?
Yes. We believe that 5markets is Scam. We have received messages from clients who mention not being able to withdraw their capital, this added to other very negative characteristics of the company.
Is 5markets trustworthy?
No. 5markets is not reliable, it is a very unsafe company: 1) is based in unsafe countries, 2) has a very bad reputation 3) has a lot of complaints 4) It is a relatively new broker without seniority. These characteristics make the company very unreliable.
How to recover money from 5markets?
If you want to know how to recover your capital, you can see it here. We explain in detail the process of recovering money from a scam company, step by step.
Are there (recommended) alternatives to 5markets?
Yes, of course there are better and safer options! You can see here the brokers we recommend: ranking of the best brokers.
I was in 5MARKETS...
I invested $1000.00 in February 2022, everything "was fine", until suddenly (5 months later), my balance was the same; I decided to make the total withdrawal of my capital and in the course of that digital management, as if by magic, almost $14.000.00 appeared, of course; They called me immediately to tell me that my investment was being managed by a broker and that, in effect, it had generated great profit. I thought it was very suspicious and from then on I decided to withdraw $10.000.00 and they immediately called me from England from the financial area, according to them. to tell you that I had to pay 4⁰ of the amount to be withdrawn for platform rights..
Anyway, obviously I didn't agree to that payment and I told them to go to hell...
After 3 months of frustration because I could no longer enter the platform; MORGANFINANCE contacted me telling me that they were a regulatory entity and that they had my account….
Unpleasant surprise then, IT IS NOT POSSIBLE that a private account is being manipulated by a thousand people without me knowing it...
Today I can see my balance; It is at $21.000.00 in MORGANFINANCE..., but the truth is that they keep communicating with me to inject more money...
This is bullshit...
I am aware that I have already lost my thousand dollars and what I see on that platform is PURE FANTASY.
Hello VICTOR, if they ask you to pay taxes, don't do it, no matter how much you pay, they will never give you anything back, it's a scam. Thanks for commenting on 5markets (now scam under the name of Morgan Finance). At present it is considered a SCAM. The BCSC (The Financial Regulator of British Columbia) has put an alert on them, for not having the regulation to carry out their activity (See link ).
If you are a client, do not make more contributions, their only objective is to steal from you, they manipulate operations manually, they keep the money from when it reaches their accounts, it does not enter the market, everything is prepared for you to lose or make you lose your money to have the excuse to keep it.
If you decide to withdraw and they request a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it! That's the warning, from that moment you have to know that you are a client of a scam broker and no matter how much you pay you will never see your money.
To help other users or customers, provide as much information as possible, explain how everything happened, where you saw the advertising, who called you, numbers from which you were dialed, emails and everything that comes to mind.
If you want to recover your money go to our chat or check the form in this link: CLAIM YOUR MONEY
Greetings.
Hello everyone, my experience on 5markets is a scam, €23000 what I lost, they tell you, I have to pay a tax of €9000 to get my money in total, it is €47000, but I did not want to pay the €9000 for scammers with the name of financing
Hello Kali, you don't have to pay those false taxes, no matter how much you pay, they will never give you anything back, it's a scam. Thank you for commenting on 5markets. At present it is considered a SCAM. The BCSC (The Financial Regulator of British Columbia) has put an alert on them, for not having the regulation to carry out their activity (See link ).
If you are a client, do not make more contributions, their only objective is to steal from you, they manipulate operations manually, they keep the money from when it reaches their accounts, it does not enter the market, everything is prepared for you to lose or make you lose your money to have the excuse to keep it.
If you decide to withdraw and they request a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it! That's the warning, from that moment you have to know that you are a client of a scam broker and no matter how much you pay you will never see your money.
To help other users or customers, provide as much information as possible, explain how everything happened, where you saw the advertising, who called you, numbers from which you were dialed, emails and everything that comes to mind.
If you want to recover your money go to our chat or check the form in this link: CLAIM YOUR MONEY
Greetings.
Hello, I have contacted you on another occasion and you told me that it was my bank's fault for letting me make the transfer and the bank tells me that they are not to blame. I want to go against 5MARKET and not against the bank
Hello Vicente, we have never been able to say that, it is the fault of the broker who is scamming you, the best thing you can do is get your money back, if you want to get your money back go to our chat or check the form at this link: CLAIM YOUR MONEY
Greetings.
I invested 4000 euros and now they want me to pay some taxes to be able to withdraw my money
Hello Ana, do not pay those false taxes, no matter how much you pay, they will never return anything to you, it is a scam. Thank you for commenting on 5markets. At present it is considered a SCAM. The BCSC (The Financial Regulator of British Columbia) has put an alert on them, for not having the regulation to carry out their activity (See link ).
If you are a client, do not make more contributions, their only objective is to steal from you, they manipulate operations manually, they keep the money from when it reaches their accounts, it does not enter the market, everything is prepared for you to lose or make you lose your money to have the excuse to keep it.
If you decide to withdraw and they request a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it! That's the warning, from that moment you have to know that you are a client of a scam broker and no matter how much you pay you will never see your money.
To help other users or customers, provide as much information as possible, explain how everything happened, where you saw the advertising, who called you, numbers from which you were dialed, emails and everything that comes to mind.
If you want to recover your money go to our chat or check the form in this link: CLAIM YOUR MONEY
Greetings.
Hello: I invested €500 then they made me believe that I had won about 12000 and if I wanted to withdraw them I had to deposit 4200 in the end they convinced me to deposit 4200 then there was a mistake and I had to deposit more, up to 17000 and in the end I got tired and I have not recovered anything. I warn you that you look carefully
Hi Vicente, you don't have to pay those false taxes, no matter how much you pay, they will never give you anything back, it's a scam. Thank you for commenting on 5markets. At present it is considered a SCAM. The BCSC (The Financial Regulator of British Columbia) has put an alert on them, for not having the regulation to carry out their activity (See link ).
If you are a client, do not make more contributions, their only objective is to steal from you, they manipulate operations manually, they keep the money from when it reaches their accounts, it does not enter the market, everything is prepared for you to lose or make you lose your money to have the excuse to keep it.
If you decide to withdraw and they request a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it! That's the warning, from that moment you have to know that you are a client of a scam broker and no matter how much you pay you will never see your money.
To help other users or customers, provide as much information as possible, explain how everything happened, where you saw the advertising, who called you, numbers from which you were dialed, emails and everything that comes to mind.
If you want to recover your money go to our chat or check the form in this link: CLAIM YOUR MONEY
Greetings.