Ciizurn Forex Review
No matter which financial market has drawn your interest, the services of an online broker are a must to start your journey. Thousands of companies exist and this gives you plenty of room to choose one, but you have to remember that not all of them will be authentic and professional. As a matter of fact, the number of fraudulent and scam brokerages has been increasing significantly, which means you need to select carefully or you could end up on the wrong side. With this Ciizurn Forex review, you will be able to make a better decision regarding this brokerage.
As per their website, Ciizurn Forex promises an award-winning trading platform to their clients that boasts powerful tools. They are offering forex and CFD trading services, along with competitive spreads. On the surface, it looks like a good option, but when you pull on a thread, everything falls apart. How? You can find out below:
Regulation and Licensing
The most important thing to know about a broker is their regulatory status and licensing because it highlights their legitimacy. A look at the Ciizurn Forex website shows that it is owned and operated by a company named Ciizurn Global Limited, which is based in Hong Kong. First and foremost, if they were truly operating from Hong Kong, then they would need a license from the Securities and Futures Commission (SFC).
But, you will not find any mention of a license on the Ciizurn Forex website and the worst part is that a warning has been issued against the broker by the Netherlands Authority for the Financial Markets (AFM). This indicates that the broker is trying to illegally target Dutch investors and the local financial regulator has taken notice. No authentic brokerage would ever engage in such activities because it can be devastating for their reputation.
Terms and Conditions
The Terms and Conditions are a legal document meant to outline the relationship between the company and its clients and same is the case here. Therefore, they are very important because you learn about the broker’s services, policies and trading conditions through these T&Cs. The problem with the ones on the Ciizurn Forex website is that they belong to a different company altogether. The Terms and Conditions on their website are of a company named Union Standard International Group Limited, which is not connected to the brokerage at all. This indicates that they have simply copied the legal document from another website and have not even bothered to edit it.
The trading platform that you are offered by a broker is used for executing your trades in the financial markets and it is considered one of the most essential elements of your trading journey. You would obviously want the best in this regard, yet Ciizurn Forex does not offer the MT4 or the MT5 trading platforms that are considered the best trading solutions in the market.
You are promised an award-winning platform on the Ciizurn Forex website, but it does not allow you to check the platform freely. You cannot register directly, which means you will have to get in touch with the broker first and this is quite suspicious. No legitimate financial service provider works in this fashion and this should immediately send up a red flag.
Leverage and Payment Methods
You want to know what leverage is offered by a broker before you sign up with them, along with the payment methods you can use for making your deposits. Unfortunately, you will discover that both these vital pieces of information are absent on the Ciizurn Forex website. This is highly worrisome because professional brokers are usually transparent about everything, yet you don’t see anything like that here. They expect you to sign up blindly, which is a common practice of scam brokers.
All of these warning signs are pointing towards one conclusion; Ciizurn Forex is not a legitimate brokerage and should not be trusted.