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FOREXCLAP

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Operating status: SCAM

Website: https://www.forexclap.com/

Broker violations and abnormal records
  • 2023-09-07 The UK FCA issues a warning against FOREXCLAP

    On September 8, 2023, the Financial Conduct Authority (FCA) issued a warning against FOREXCLAP, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/forexclap

    On September 8, 2023, the Financial Conduct Authority (FCA) issued a warning against FOREXCLAP, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/forexclap
  • 2023-09-10 BrokersView has reviewed that FOREXCLAP is an unregulated broker

    According to its website, FOREXCLAP has been in the forex trading business since 1990, but a domain lookup shows that "forexclap.com" was only registered in June 2022. This discrepancy raises a red flag.

    FOREXCLAP is allegedly to be a UK-based company and has been licensed in this jurisdiction. However, the UK Financial Conduct Authority (FCA) has exposed its fraudulence by issuing a warning against the platform, cautioning the public of this unauthorized firm.

    In essence, FOREXCLAP is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. 

    FOREXCLAP is unequivocally a scam.

    According to its website, FOREXCLAP has been in the forex trading business since 1990, but a domain lookup shows that "forexclap.com" was only registered in June 2022. This discrepancy raises a red flag.FOREXCLAP is allegedly to be a UK-based company and has been licensed in this jurisdiction. However, the UK Financial Conduct Authority (FCA) has exposed its fraudulence by issuing a warning against the platform, cautioning the public of this unauthorized firm.In essence, FOREXCLAP is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. FOREXCLAP is unequivocally a scam.

Related Complaints

Q&A

Is FOREXCLAP reliable?

PC Velikov
Malaysia
2023-10-17
ANSWER No, FOREXCLAP is not reliable. It is an unlicensed broker that poses significant risks to investors.The website of FOREXCLAP claims that it has been operating in the forex trading industry since 1990, but a domain lookup reveals that "forexclap.com" was only created in June 2022. This inconsistency is a clear warning sign.FOREXCLAP pretends to be a UK-based company and to have a license in this jurisdiction. However, the UK Financial Conduct Authority (FCA) has uncovered its deception by issuing a warning against the platform, alerting the public of this unauthorised firm. You can access the full FCA warning here.In short, FOREXCLAP is not supervised by any regulatory authority. Investing with this broker is extremely risky, as there are no legal safeguards to protect the funds. Individuals dealing with the platform are exposed to substantial risks of fraud and identity theft, which could be financially and personally devastating. To mitigate these risks, we strongly suggest investors steer clear of unlicensed brokers like FOREXCLAP and instead choose a fully regulated one instead.
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