Client Account Blocked After Unregulated MergeFX and Fake Expert Trader Exposed by BrokersView

In late August, BrokersView exposed MergeFX as an unregulated and fraudulent forex broker and revealed a victim case where a client failed to withdraw money from the broker multiple times. The client’s issues were never resolved and he was told that his account was under review and was assured that his assets were safe and protected. 

However, according to the latest feedback the client has provided us, his account has now been frozen. This happened after trader Alex Dean found himself exposed by BrokersView, and he deleted his correspondence with the client and blocked him on Telegram.

Beware of Individuals Claiming to Offer Trading Signals

Initially, the client was referred to Mergefx.com for trading by Alex Dean, a self-proclaimed trading expert, and was promised trading signals based on the amount of his deposit. 

The latest evidence submitted by the client regarding Alex Dean's Telegram profile reveals that his title is “Expert Trader” and he claims to have a 90% win rate on cryptocurrency signals from copy trading services. Some of his posts may imply unrealistic promises and exaggerated offers.

Given that Alex Dean recommended fake broker MergeFX to the client and couldn’t be reached following the client’s withdrawal issue, it is likely that he is a scammer offering fake trading signal services. 

Upon realizing that he had been exposed, he immediately deleted the client, and then the client’s access to his MergeFX account was also blocked. This suggests that he may be one of the promoters behind the MergeFX fraud scheme.

Trading signals can be helpful for forex and cryptocurrency trading, but many scammers take advantage of people's quest for more lucrative trades to peddle fake signal services.

Be cautious of providers who promise high success rates and guaranteed profits. They often exaggerate their claims to mislead traders and don’t provide detailed information about their strategies.

Do Your Own Research When Choosing a Broker

Be cautious of financial advice offered by influencers on social media, especially those who claim to be experts or professionals but are unwilling to provide real track records.

It is wise to make investment decisions based on your own research. Always do thorough due diligence before investing and consider dealing with a licensed broker. If something seems too good to be true, it probably is.