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 tell you why we came to such a conclusion:
|🏠 Company||Uncanny Services LLC|
|️ Regulation||not regulated|
|📈 Platform||Web trader|
|📌 Address||St. Vincent and the Grenadines|
⚠️ 5Markets is owned by Uncanny Services 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. The company is located in a very unsafe place, be careful. ⚠️
Now we are going to analyze the types of accounts that 5Markets offers, in this case, we observe that it offers 3 different types of accounts:
|Account type||Minimum initial deposit|
Information on the web
5Markets provides a basic explanation about the financial products it offers, an educational section, market news although in English, economic calendar also in English, some financial calculators, not much more than this.
List of phone numbers
- The company does not have phone numbers.
🚫 5Markets Final Valuation 🚫
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.
News about 5Markets:
|Date||Update – news|
|September 2022||Complaint against financial regulator 5Markets: CONSOB.|
What is your opinion? We invite you to collaborate with us and vote. You can also leave a review about your experience with 5Markets.
At the end of the review you will find customer comments.
How to Claim Money Scammed by 5Markets
How to Report 5Markets
Frequently Asked Questions
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 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 reliable?
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.