Is Ecomarkets a scam or a legit broker?
If you have any questions or you need advice about the withdrawing process, feel free to contact us at forexscamreviews28@gmail.com.
In order to stop these scams without us getting hurt, instead of pointing fingers at the companies or individuals that act in bad faith, we decided to take the positive road which consists of educating people correctly to ensure they make their own decisions and they’re able to differentiate a good thing from a bad one.
Ecomarkets is not a Legit and trusted Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety, and simply may operate the business in any way it wishes.
The real reason behind Ecomarkets is much more complex than what it looks like, on the outside, it appears to be a fun, friendly quality trading education website, but on the inside, it’s literally a big mission to stop scams that have ruined the lives of thousands of innocent people.
Ecomarkets is a Forex broker that offers a wide variety of investment products, such as currency pairs, precious metals, and other investment products.
HOW THESE SCAMS WORK :
1 – The Broker
At the start of this scam, they will call and promote you as their broker.
2 – And the Scam Begins
This is the part where the horror movie starts:
Many brokers realized they could accelerate the loss process of their clients in order to make more money, and that’s when they went wild, here’s how:
Account Managers
Good brokers operate usually in two different ways:
In a first way, the broker never calls you unless there’s a security issue, documents, etc.
In a second way, the broker hires sales agents that call you in order to motivate traders to deposit, and in the case of the account manager to motivate you through trade by providing you market updates, none of them provides any kind of advice, so far we’re on the good side of the brokers.
Now we can start talking about the evil ones, in these, there’s no such thing as an account manager, the job title is called “retention agent”.
Sales and Retention Agents
When a trader registers his first point of contact will be with a sales agent.
The evil sales agent will use many verbal tactics in order to convince all kinds of people to deposit money, he doesn’t care if they’re ruined, in debt, dying of cancer, he just wants the deposit as he gets paid a bonus per deposit.
Once the sale is closed, the trader leaves the sales agent’s portfolio and moves to the detention officer’s portfolio.
His mission is to receive clients, cultivate deep relationships, build trust, make them invest everything they have, and advice them to open the wrong trades so they lose everything.
3 – How do they accomplish it?
Simple, now that the client has been sold and lubricated by the sales agent and has the false expectation of making money through the help of an “account manager”, he comes with some trust towards the process and that’s where the retention agent picks up and begins to plant their mental seeds.
In the beginning, they’ll advise you correctly to ensure you see some profits and then slowly start convincing you to deposit more money.
Once the retention agent sees that the trader reaches their maximum potential deposits based on the net worth profile they built by talking he will proceed to advise the trader to open huge trades, to not use stop losses and he will continue to do this until the client goes bust.
Once the trader is in negative open loss, the retention agent will continue to ask for more money in order for the trader to be able to meet the margin requirements and keep the positions open, and here’s where victims usually sell cars, houses, or anything they can to keep their positions open.
This will continue until the market makes a huge movement and the trader loses everything, causing the account manager to get paid a huge fat bonus.
Some clients hurt themselves, others are left with post-traumatic stress disorder, the truth is that no one tells the real stories out of shame.
It is not safe to trade with a Forex broker Ecomarkets.
Conclusion
It doesn’t take a lot of effort to see we are dealing with a scam broker like Ecomarkets. There is no license, half of the links are not working, and you cannot count on support either. So this Ecomarkets is totally unreliable scam broker, the only thing we can say after this Ecomarkets is to stay away from this place. This is not a broker that will provide you with good terms and trading conditions. Even if you manage to open an account and deposit, it’s most likely you will lose all your money
We advise all investors and traders to avoid Ecomarkets and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams.
Read our Eco Markets review to see why we do not recommend this broker for trading. Just to clear doubts, this is an Ecomarkets.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as these kinds of websites are notoriously famous for scamming schemes.
So Eco Markets is just another unregulated forex broker, which means the customers are not protected, and it is highly likely they will get away with your hard-earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually, unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist on withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all, you need to keep the emails as proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and refuses to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relationship with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at forexscamreviews28@gmail.com but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step, you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that, you can prepare a letter or an email describing how you got deceived by them. Make sure you show this letter or email to them and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach us at forexscamreviews28@gmail.com and we will help you with this step as well.
Make sure you leave reviews about Eco Markets on other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you have fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over the world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Eco Markets Review Conclusions
Making the Eco Markets review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard-earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter before you perform any transaction. We hope that our Eco Markets review has been helpful to you. If you have any questions or you need advice about the withdrawing process, feel free to contact us at forexscamreviews28@gmail.com.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
