Spring FX Signals

Spring FX Signals presents itself as an investment-trading brand with experts in investing and trading, claiming a focus on long-term relationships. However, this entity only started about a year ago and is not well-known.

Their documentation is inadequate, with false claims of being registered in the USA, only providing an address as proof. A check of the SEC registry confirms the absence of a broker’s license, making Spring FX Signals an illegal operation without the right to offer brokerage services.

Details about their trading instruments are vague; their website only lists market types without specific data, offering access to only 75 assets. The lack of clear trading conditions suggests fraudulent practices.

While they offer different account types, the differences are merely in the number of additional services, a tactic unlikely to attract experienced traders. The methods for depositing and withdrawing funds are also unclear, raising suspicions that Spring FX Signals could be siphoning traders’ money under the guise of transactions.

Cooperation terms. Is it possible to earn with Spring FX Signals?

Spring FX Signals offers investments in three types of assets: stocks, currency pairs, and cryptocurrencies, totaling 75 instruments. However, there’s insufficient information for traders to assess if these suit their needs. The presence of cryptocurrency pairs is a red flag, as these instruments typically lack liquidity providers and are associated with fraudulent operations.

Rating Forex comments that Spring FX Signals is fraudulent, hiding its full asset list and having legality issues. The broker’s website lacks key trading terms such as leverage, spreads, swaps, margin calls, stop-outs, and minimum trade volumes. Commission rates are also undisclosed.

The website lists four account types: Bronze, Silver, Gold, and Platinum, requiring deposits of $300, $500, $1,000, and $10,000 respectively, with a maximum of $50,000 for the Platinum account. The reason for this limit is unclear.

Rating Forex notes these accounts differ in additional services like security levels and risk protection. Interestingly, Spring FX Signals claims to compensate for 25% of losses, a promise unlikely from a legitimate broker.

Regulation 

Spring FX Signals doesn’t disclose its exact registration location, and Rating Forex warns that the scammers behind it could be operating from any country. It’s unclear where to file complaints, and no financial regulator can effectively help the victims protect their interests. They lack the means to pressure such fraudulent operations, at best, they may issue warnings about the fake broker.

How can you lose money with Spring FX Signals

Spring FX Signals reportedly cold calls potential victims from leaked phone databases, falsely promising safe trading and training. Deposited funds seemingly vanish into anonymous wallets, with only simulated trading in the terminal. If no more money can be extracted, the victim’s account is blocked, and calls are ignored.

In cases where more funds can be taken, the broker manipulates accounts to show losses, then urges victims to deposit more to recover. Withdrawals are impossible; the broker either blocks victims or demands made-up commissions and fees, essentially stealing the deposited funds.