Explorefxtrade - Review: FCA warns against unauthorized company

May 25, 2023
Our research department has now compiled important information about Explorefxtrade. Explorefxtrade claims to provide perfect conditions for investors to make fast and secure money through trading Contracts for Difference (CFD). However, everything at Explorefxtrade is investment fraud. Not a single cent has been invested. The money has landed directly in the pockets of the investment scammers. Nothing is traded on explorefxtrade.com. Everything the investor sees on their screen is designed to deceive them. Can you share similar experiences? What can investors do if they have been defrauded by Explorefxtrade? What assistance is available for investment fraud? How can investors recover their money from unscrupulous providers?
 

Explorefxtrade: Questionable and Unethical Promises on explorefxtrade.com
What are unsuspecting investors led to believe on www.explorefxtrade.com? explorefxtrade.com and explorefxtrade.live create a very professional impression. Direct communication, supposedly interesting offers, and the mention of broker support that is supposed to lead to convincing returns and profits. All of this seems very persuasive. As an unsuspecting investor, you are unable to recognize that you are only being presented with a play and not a single cent of your money is being invested. All the money ends up in the pockets of the scammers, who, of course, do not trade with the investors' money either. However, these dubious business practices lead to disappointed investors and terrible experiences!

Explorefxtrade: Who is behind it?
Because the creators of Explorefxtrade do everything to conceal the true circumstances, it is likely to be difficult for most investors to answer this question. Explorefxtrade does not provide a revealing imprint, which is intended to make it difficult to identify the culprits. The domain data of the websites also do not contain any indication of who registered them, but only that the registration of explorefxtrade.com took place on October 8, 2021, with NameCheap, Inc., and that of explorefxtrade.live on December 15, 2022, with GoDaddy, LLC, and the real domain owners in both cases - as expected - hide behind a common anonymization service provider.

But who operates Explorefxtrade?
The scammers often operate various websites on which they offer their fraudulent business model. Besides the email address support@explorefxtrade.com, no main business address or the name of a managing director is provided to potential investors. Although the London address 27 Old Gloucester Street is used in the scams, there is no trading empire like Explorefxtrade located there. It is a sham address.

Explorefxtrade: International Investigations
The worldwide search for Explorefxtrade in relevant registers yields no results. Explorefxtrade is a fantasy product. However, with our research tools, our investigation team has managed to trace the trail to the investment scammers.

Explorefxtrade: FCA Warning
It is not surprising that Explorefxtrade, with its questionable appearance, has already caught the attention of the British Financial Conduct Authority (FCA). On December 9, 2022, the FCA issued a warning: "EXPLORE TRADE - We believe this company is offering financial services or products in the United Kingdom without our authorization...
Unauthorized company: EXPLORE TRADE
Address: 27 Old Gloucester Street, London, UNITED KINGDOM, WC1N 3AX
Email: support@explorefxtrade.com
Website: www.explorefxtrade.com"

Explorefxtrade: Scheme of Investment Fraud
Investment fraud usually follows the typical pattern: Initially, investors deposit a small amount - usually 250 euros - and quickly see this amount multiply, which makes them willing to invest larger sums. Concerns arise when investors want to withdraw their money because they are then asked to pay taxes, commissions, fees, or whatever excuse is used. Many investors realize too late that they have fallen victim to investment fraud and that there was never an intention to pay out the money.

Explorefxtrade: What assistance is available for investment fraud?
Many defrauded investors wonder what to do in cases of investment fraud because filing a criminal complaint makes little sense as criminal complaints primarily serve the purpose of prosecution, not the recovery of money. What assistance is available in cases of investment fraud, and how can investors recover their money? A lawyer specialized in investment fraud knows how to trace the money because, as it was said before, money is not gone, just somewhere else. In the present, it can be added: It is challenging, but with the right tools, it is possible to regularly trace money digitally - even if it has been transferred via a cryptocurrency exchange like Bitcoin.

RESCH Rechtsanwälte - Experience in Investor Protection since 1986
If you have become a victim of Explorefxtrade and want to know if and how you can recover your money, call us at +4930 885 9770 or fill out the questionnaire. You will receive a free evaluation of your case.