When we went to ActionCorretora website for the first time, we had no doubts about what it was really about. This broker doesn’t do much to hide who it really is, and we don’t think it even wants to. Everything about it felt old, like the broker hadn’t changed in a long time. Then we went to the ActionCorretora website’s footer and found proof that it hadn’t been changed since 2017. Now, there is only one kind of broker whose ActionCorretora website doesn’t get updated, and it’s not the kind we recommend you invest in. This is, of course, only one of many signs that this broker is not regulated. In the review that comes next, we’ll talk about some other big parts of not being legitimate.
The sign-up process in ActionCorretora was boring and didn’t seem to have been put together with much care. We could make an account in less than 10 seconds, and then we went to the user area. The client dashboard didn’t look very professional, and it didn’t have many of the options that have become standard.
At least we could get to a web trader or something like a web trader. We were told that users can trade forex currency pairs, stocks, indices, commodities, and cryptocurrencies. The spread between EUR and USD is 1 pip, which, if we’re being honest, is a very good deal. We couldn’t find any amount of leverage.
The broker’s site could be read in both English and Portuguese. But we think that the broker gives both languages by using Google Translate.
REGULATION OF ACTIONCORRETORA AND SAFETY OF FUNDS
After looking at the ActionCorretora websites a few times, we came to two different conclusions that contradict each other.
Most of the time, we pay more attention to the first one. The broker says it is registered in St. Vincent and the Grenadines, which is not a country that gives out licenses for forex brokers. This means that even though the broker is registered there, they are not regulated there. Users should always make sure to make a difference between regulation and registration.
The website ActionCorretora is also said to be in Romania. Romania follows all the European guidelines on FX trading, while also incorporating its own regulatory framework that is overseen by the ASF (Autoritatea de Supraveghere Financiara) that is in turn overlooked by the National Bank of Romania. The ActionCorretora broker is not regulated by the commission. We looked on the broker’s ActionCorretora website for proof, but we didn’t find any. Read on to learn more about the Romanian foreign exchange market.
It’s clear that the company doesn’t offer real Training Services in either of these places. ActionCorretora is not regulated, so it is dangerous for everyone.
Putting your money in brokers who aren’t regulated is like throwing it out the window. They will rarely give you your money back, and even if they did, it would be a huge hassle and take a lot of time.
Because of this, we tell our users to only trade with brokers who are regulated. Please, once you enter a broker that you think is worth investing in always check for a license before doing anything else.
We recommend brokerage firms in the UK, EU, US, or Australia. All of these regulated brokers are very reliable and offer a safe place to trade.
Also, agencies like the FCA and CySEC have user compensation funds that are only used if the broker can’t pay the user back because it went bankrupt. The FCA guarantees up to £85 000 per person, and CySEC guarantees up to €20 000 per person.
Trading software from ACTIONCORRETORA
When we first tried to figure out what the real nature of the trading software was, we were hesitant because the web trader actually works with a third party.
This chart shows the user the trading conditions, most importantly the spread. However, we can’t be sure that these trading conditions come from the broker and not from a third-party web trader. This second case has happened many times, with the broker borrowing the asset values from third-party charts and presenting them as their own.
ACTIONCORRETORA METHODS AND FEES FOR DEPOSITS AND WITHDRAWALS
Boleto and Pix are two unusual ways to pay that clients can use, according to the user area. None of these are things we’ve heard before. The least you can put down is $200.
On the other hand, you can get your money back by using a credit card, a wire transfer, or a bitcoin wallet. But we know for sure that it’s important for all brokers to offer the same ways to deposit and withdraw money. That’s because there are rules that say the user can only get their money back in the same way they put it in. But since the broker is breaking the law, it can do anything it wants. In the broker’s terms and conditions, it says that there are no withdrawal fees. The withdrawal fee is at least $25.
ActionCorretora is not a reliable broker and is breaking the law. Don’t put any money here!
How does the trick work?
One of the most common ways to lose money in a forex investment scam is through something that is so easy to understand. If you look at it in a positive way, a scam is made up of a few very simple steps that still require a lot of knowledge and authority to pull off.
In fact, investment scams work so well not because of how they are set up, but because the people behind them are very good at getting people to do what they want. They have a lot of psychological and social tricks up their sleeves.
In fact, the hardest part of any scam is meeting the person behind it in person. This usually happens over the phone, but it can also happen through email.
Online ads are the fastest and most useful tool they have. There are a lot of fake and misleading ads on the internet. They keep changing so that they look more and more like real businesses, but they are still scammers at heart. Everyone has seen at least a couple of these ads, which show a carefree life, expensive products that can be used on the go, beautiful women, and other things that are really expensive and hard to get.
Scammers who want to take your money are behind these ads. When you get to the ActionCorretora website, you will be asked to give a phone number or email address so that the broker can get in touch with you.
The people running the scam will ask you to put money into it. He or she will try many different things to get you to invest. This is just an offer to buy something. Investing a small amount at first will help you build trust with the scammer, which could lead to more and bigger investments.
If the user keeps investing and trusts the broker, he or she will keep putting money in places where it will be hard to get it back.
And when it’s time to get your money back or at least take out a profit, the company’s true nature as a scam will become clear. The broker will either close all of your accounts, stop talking to you, shut down the whole ActionCorretora website, or put all of your requests on hold. Sometimes, it will even give you back a portion of your deposit and profits to make you feel safe.
What to do if scammed?
Now, the fastest way to get your money back is to ask your credit or debit card company for a chargeback. But this only works for people who have actually lost money using a card. The chargeback time for MasterCard and VISA is 540 days.
Bank transfers are harder to get back. First of all, we always tell users to change their username and password for their bank account right away. The next step is to talk to the bank and try to solve the problem with them. The bank might have a special section for dealing with these kinds of problems.
Investing in a regulated broker with any kind of cryptocurrency is a surefire way to lose your whole deposit. Even in the modern world, crypto transactions can’t be tracked, which makes crypto deposits the most popular way for unregulated brokers to get money for investments. All of the money put into a crypto wallet is lost for sure.
And a warning to everyone who reads it! Do not trust the so-called “recovery agency” or “recovery agencies.” Their promises to return all of your money are just as false as the broker scam itself. They will take the money from the initial fee for the fake services and run away.
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