CarltonFX markets itself as a Dubai-based trading broker that provides forex and investment services. This scammer alert is intended to protect online traders and investors from becoming victims of deceptive brokers posing as legitimate platforms. However, research shows that it does not have any financial regulatory authority, causing many investors to report frozen withdrawals, false trading advice, and large losses of money.
CarltonFX Overview
- Company Name: CarltonFX
- Website: https://carltonfx.com/
- Address: 1404, 14th Floor, Zone A, Aspect Tower, Executive Tower-D, Business Bay, Dubai, UAE
- Regulation Status: Not Regulated
- Warned By: Not recommended by the review website like Brokersreviewer
Withdrawal Problems with an Excuse
Often, the most obvious indicator of a scam broker is withholding client funds. All reports completed with CarltonFX show withdrawal problems. Investors have said that withdrawal requests have been deferred with repeated excuses, and in many cases, the funds were never released at all. This is an indication and appears to be an obstruction rather than simply being a technical issue, which is typical behaviour of a scam.
Trustpilot Negative Reviews
Deceptive Trading Practices
Many investors have reported the unprofessional trading practices of CarltonFX representatives. The relationship managers would supposedly press for trades in below-market conditions and often provide false information. Rather than create proper financial counsel, the representatives pressure clients into actions that usually result in the depletion of their accounts. These practices would indicate that the company would like to exploit investors rather than provide them with legitimate trading opportunities.
Emerging Scams Targeted New Investors
The CarltonFX example is showing that fraudulent brokers are evidently stalking inexperienced investors who are the most vulnerable novice investors, like in Kerala, India, for example. Many of the lost victims indicate that they lost a lot of money from the recommendations of friends or relatives, prompting the intended victims to invest. The platform could show small wins to build rapport, but soon was altering the account balance in the opposite direction, resulting in high-value losses. This deliberate and systematic scam provides insight into the deceptive nature of the CarltonFX case.
Inadequate Customer Support
Another worrisome element to CarltonFX is their unprofessional customer service. On various trader forums, clients report waiting days or weeks to receive a reply. When they do get a response, it is usually to try to convince them to deposit additional funds rather than resolve an issue. The lack of responsive and professional support is yet another reason to scrutinize the company’s authenticity.
No Regulations or Transparency
Although CarltonFX says they are a UAE-based company located in Dubai, there is no evidence of a company registered with the Dubai Financial Services Authority (DFSA), Central Bank of the UAE, or Securities and Commodities Authority (SCA). Not having any regulatory approval is a huge red flag. This is a major scammer warning-a legitimate broker must be licensed and regulated by reputable financial bodies.
1. Is CarltonFX regulated?
No. CarltonFX is unregulated by any reputable authority (DFSA, CBUAE, SCA, etc.), making it a high-risk trading firm.
2. Why do investors say CarltonFX is a scam?
Investors are claiming frozen funds, bad trading advice, and they are aggressively pushed to deposit more – these are very telling signs of a scam broker.
3. Can I withdraw my funds from CarltonFX?
Most users indicate that their withdrawals are either stuck in limbo forever or not processed at all, so they’re essentially unrecoverable.
Been Misled by CarltonFX? We Can Help
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