Rosy FX is an online trading site where clients can supposedly trade wide range of services in a reliable environment. They claim to offer tools that will help you reach your trading goal.
Rosy FX boasts of exceptional service, trading tools, and multiple platforms including the metatrader4 (MT4) platform.
Should you trade with Rosy FX?
- Rosy FX is unregulated as they should be regulated if they want to target customers on regulated markets like the European Union, including the UK.
- Unlicensed brokers like Rosy FX do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- Bear in mind that unregulated brokers in general are completely uncountable for the way they handle your money, which makes any dealings with such entities extremely risky. Basically that is how people usually get scammed.
Rosy FX Scam
Rosy FX is an offshore broker that lacks regulation and operates in a very dishonest manner. If you need to know why you should avoid the company at all cost, you are obliged to read the following lines.
- Rosy FX claims to be located and licensed in St. Vincent and the Grenadines (SVG) – something that does not make it legitimate at all. SVG is a scam haven where Forex regulation and supervision is lax or totally non-existent. If you are scammed from this jurisdiction, you are totally on your own.
- Typical of scam brokers like Rosy FX, there is no terms and condition on their website. Links to this essential page is not working.
- Also there is zero clarity on trading conditions. We could not find information on the different accounts types offered, the minimum deposit requirement, spreads and leverage levels. Links to these pages also leads to a dead end.
- Rosy FX claims to offer the MT4 for trading – something that turns out to be false. When we tested the Rosy FX broker, we could not access any trading platform.
- Bear in mind that scam brokers like Rosy FX don’t allow withdrawals, so your chances to get back the funds depend entirely on your payment method. Deposits made with cryptocurrencies or bank wire are non-refundable.
Is Rosy FX Safe?
Rosy FX is considered not safe, as it is not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC, FSC in South Africa and the US CFTC.
The easiest way to check if a broker is licensed is by looking it up in the registry of the respective financial regulator – be it the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority (FSCA). All of them keep such registers and they are publicly available.
Rosy FX is an unauthorized and illegal broker. Deposits with this broker are not protected, the company can’t legally offer its services in almost any country. It is a total scam.
How Rosy FX Work
You will notice how the Rosy FX scam broker works immediately you make a deposit to the Rosy FX platform. Scammers will take deposits from you but never let you withdraw anything.
They will use many tactics to make you deposit more. When you ask for a withdrawal, scam brokers will present silly legal document and conditions that is out of the question as far as legit brokers are concerned. But it will just be a lie to get more money from you.
They will request that you send them more money while declining all your efforts to withdraw your deposits.
At this point, most people will realize that they have fallen victim to a classical Forex trading scam.
Rosy FX is a scam broker operating from an offshore location in SVG. Links to important pages on their website leads to errors notes.
Legal pages are also missing, you should avoid this broker at all cost.