Bigmarkets Review (bigmarkets.com Scam) – Forex Broker Reviews, Trading Platform Reviews

The Rise and Fall of Bigmarkets: A Review of the Controversial Forex Broker

Bigmarkets is a name that has been synonymous with controversy and distrust in the world of online trading. What once appeared to be a promising and innovative trading platform has now been exposed as a potential scam, leaving many investors wondering how to avoid such pitfalls in the future. In this article, we will delve into the world of Bigmarkets, examining its rise, demise, and the red flags that should have sent alarm bells ringing for traders.

Bigmarkets was founded with the promise of providing a revolutionary new way to trade Forex, CFDs, and other financial assets. The platform boasted a cutting-edge trading system, seamless execution, and a user-friendly interface. At first glance, it seemed like the perfect solution for both seasoned traders and newcomers to the market. However, beneath the surface, cracks were beginning to form.

One of the earliest warning signs was the company’s unconventional business model. Bigmarkets operated on a tiered system, where new traders were required to invest large amounts of capital upfront in order to become accredited partners. This created a significant barrier to entry, limiting access to the platform to only the most affluent investors. This approach was not only unfair to those who couldn’t afford it but also begged the question: what was the real purpose of this tiered system?

As the platform gained popularity, a myriad of complaints began to surface. Traders reported experiencing unexplained delays, market manipulation, and unmanageable slippage – all of which resulted in heavy financial losses. Furthermore, the company’s customer support was woefully inadequate, leading to a sense of abandonment by those who had entrusted their accounts with the platform.

The final nail in the coffin came when regulatory bodies began to take notice. Financial watchdogs such as the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC) launched investigations into Bigmarkets’ operations, ultimately shut them down for operating without the required licenses and permits.

So, why did Bigmarkets rise to such heights of popularity only to fall so spectacularly? In hindsight, the warning signs were there. Red flags like the tiered business model, lack of transparency, and questionable customer support should have sent alarm bells ringing. It is essential for traders to be vigilant and do their due diligence when selecting a trading platform.

To avoid falling prey to fraudulent schemes like Bigmarkets, traders should prioritize the following:

1. Research, research, research: