FXMeridian.com: an FCA blacklisted forex platform. Is it a clear sign of a Scam Broker ?It came to our attention that the platform fxmeridian.com provides financial services to UK residents.
FX Meridian initially attracted investors with bold guarantees of high profits and minimal risk. By promoting seemingly sophisticated investment strategies, the platform drew individuals eager to grow their wealth. However, cracks in this facade soon began to appear. Investors reported unexplained discrepancies in their accounts, delayed or denied withdrawal requests, and increasingly sparse communication from the company. These issues raised alarm bells, turning what seemed like a secure investment into a devastating financial ordeal.
On 14th of November, the UK Financial Conduct Authority (FCA) has issued a warning about FX Meridian, highlighting that the firm operates without authorization to offer financial services in the UK. The full warning could be see here.
The FCA strongly advises against dealing with fx meridian.com and urges individuals to confirm firm authorisation on their Financial Services Register.
I. Lack of Regulation in the UK
FX Meridian’s brand operates through the website fxmeridian.com. Based on public informormation, fxmeridian.com is acting through two legal entities :
- Global Clearing House Ltd at https://globalclearinghouseltd.com, an offshore company incorporated under the Laws of Vanuatu;
- Ever Financial AD at https://ever.bg, a company incorporated under the laws of Bulgaria.
The FCA indicates the emails for correspondence used by FX Meridian:
support@fxmeridian.com,
ever@fxmeridian.com,
compliance@fxmeridian.com,
cs@fxmeridian.eu
However, neither of these legal entities has the right to provide financial services in the United Kingdom, as the FCA has pointed out in its warning.
As an unauthorised entity, the FCA reminds that FX Meridian.com does not provide access to the Financial Ombudsman Service or the Financial Services Compensation Scheme, leaving investors unprotected if legal issues arise.
II. Suspicious Marketing Practices
It came to our attention that fx meridian.com solicits UK investors through telegram channels with promises of high return on investment through their platform. Further, FX Meridian.com offers “non-withdrawable bonus” to its UK customers under the condition to deposit substantial amounts with their platform. Such misleading marketing strategies, including exaggerated claims of return on investment about its trading platform and services, are a clear red flag for any investor.
The FCA points out the social media links which target UK users:
https://www.facebook.com/fxmeridian
https://www.instagram.com/fxmeridian/
https://www.youtube.com/channel/UCTPtepUoXjJ7qi-XJMgTuuA
https://www.pinterest.co.uk/fxmeridian/
https://gb.linkedin.com/company/fxmeridian
III. Aggressive calls and communication tactics
A common complaint among users from Trust Pilot are aggressive and offensive calls and communications. An UK users described “Started bombarding me with calls talking a lot of rubbish, laughing and being offensive”.
IV. Potential Financial Risk
We have proofs that the processing of the payments for investing on the platform is carried out by the Bulgarian based company Ever Financial AD. However, since FX Meridian.com operates unregulated in the United Kingdom, the investor’s funds may not be protected in the event of bankruptcy or legal breaches in the UK. Instead, UK users of fx meridian.com should seek legal protection under Bulgarian jurisdiction.
Final Recommendation
As asset recovery lawyers, based among other in Bulgaria, specializing in Forex and CFDs, we recommend you to be careful when choosing a trading platform such as fxmeridian.com. Financial Fraud Lawyer brings extensive experience and legal expertise to these cases. The network investigates fraudulent practices, collaborates with regulatory authorities, and pursues legal action to hold bad actors accountable. In FX Meridian’s case, Financial Fraud Lawyer is tirelessly working to compile evidence, coordinate with authorities, and advocate for victims’ rights. Their efforts aim to recover investments while ensuring justice is served.
The FX Meridian scandal underscores the dangers of unregulated investment platforms promising unrealistic returns. For those impacted by FX Meridian’s alleged misconduct, seeking the support of trusted fund recovery lawyers is a vital first step toward regaining control and achieving resolution.
For individuals impacted by the actions of FX Meridian, legal counsel is available through a trusted network of legal professionals for asset recovery against fxmeridian.com. Do not hesitate to contact us.
