Ciizurn Review – Discovering the Red Flags

Ciizurn Review

Your journey in the financial markets begins when you open a trading account with an online broker. These days, it is very convenient for everyone to open an account because you don’t have to go anywhere when you are trading online. But, you do need the right broker in order to succeed because you have to depend on them for providing a good platform and trading conditions. This can be quite a daunting task, especially because shady and scam platforms have become quite rampant. They are good at deceiving people, as this Ciizurn review makes it obvious.

Over the years, these scammers and fraudsters have gotten smarter and they know just how to trap people. They deliberately design their websites in such a manner and add features and offerings that traders can find hard to resist. In their eagerness, people forget to take a proper look at the broker and don’t realize that they are falling for a ruse until it is too late. Unless you also want to have the same regrets, it is best to be smart and discover the red flags in a broker, if any.

You will be able to save yourself from becoming a scam victim and just another statistic. This approach is highly recommended in the case of Ciizurn, which presents itself as an award-winning Canadian forex and CFD brokerage that offers more than 1,000 trading assets to its clients. Further offerings include two leading trading platforms that can be found in the market i.e. the MetaTrader4 and the MetaTrader5. However, it is not even remotely close to what it appears to be and you can discover this when you begin digging for red flags. Once you do, you will find enough of them to warn you off the broker. Take a look at these below:

It is already exposed as a scam

If you do a little digging into Ciizurn, you will find that this is an old scam that has popped up once more with a new domain name. A brokerage by the name of Ciizurn Forex had been previously blacklisted in Netherlands by the Authority for the Financial Markets (AFM). Back then, the brokerage was using the domain name ciizurnfx.com.

Now, it has switched to a different domain name of fxcii.com and this time around, the Spanish regulatory body i.e. the National Securities Market Commission (CNMV) is the one that has issued a warning about the broker. As a matter of fact, you will note that the regulatory authority has covered, both its latest domain name and the previous one. This makes it clear that Ciizurn is nothing but a scam and it is not a platform you can trust.

It makes false regulation claims

Before signing up with any brokerage, it is recommended that you check their regulatory status because a regulated broker is a safe one. It ensures that they comply with proper policies and are monitored by a third-party authority that can hold it accountable in case of any problems. What is Ciizurn’s regulatory status? The first problem you will encounter with the brokerage is its many names.

It is apparently represented by a horde of companies, which include Ciizurn of Financial Instruments UK Limited, Ciizurn MENA Limited, Ciizurn Global Limited, Ciizurn Limited, Ciizurn of Financial Instruments Pty Ltd and Ciizurn of Financial Instruments Limited. Furthermore, the broker also claims to be regulated by the Board of directors of FINTRAC, which is known as the Canadian Financial Transaction and Reporting Analysis Center.

This may sound reassuring to some people, but if you do your homework, you will find that Canada’s regulatory authority that monitors and oversees brokers operating in the country is not FINTRAC. It is actually the Investment Industry Regulatory Organization of Canada (IIROC). A check of its online register shows that Ciizurn is not listed anywhere, not under any of the names mentioned above. This means that its regulation claims are utterly false and it is only trying to mislead people into believing it is regulated.

It has a virtually anonymous website

Opening an account with a broker requires you to trust them with a lot of your data and your capital as well. This makes it a big decision and you cannot just trust anyone without knowing their background. The problem with Ciizurn is that the broker appears to have a virtually anonymous website. You cannot believe that the purported address on its website is authentic because there is no way for you to verify its authenticity.

The website dictates that the brokerage is based in Hong Kong, but you will not find it listed in the registers of the Securities and Futures Commission (SFC) of Hong Kong. This means that either Ciizurn is not based in Hong Kong at all, or is operating illegally from there. Both these scenarios don’t give you any confidence about the broker’s legitimacy.

Its Terms and Conditions are under a different name

One of the most important things that you need to check in a brokerage is their Terms and Conditions because these cover the policies you will be expected to comply with and the fees you will have to pay, along with other conditions. It helps you understand just what you are getting into, so checking them is a must. But, you are in for a surprise with Ciizurn because when you check the Terms and Conditions they have provided, you will find that they belong to a completely different company.

They are of a company named Union Standard International Group Limited. This has absolutely nothing to do with Ciizurn, which means that the brokerage likely copied them from the company’s website and did a poor job of editing them. This is a common practice of scam brokers and should immediately alert you as it is a prominent red flag.

Conclusion

There is no doubt that warnings by regulatory authorities, the false claims of regulation and other issues with Ciizurn are major red flags that help you see why you need to avoid this broker.