Trader Accuses A5 Markets of Fraud: Deposit via Personal Transfer Without Opening Account

A trader recently submitted a complaint alleging fraud by forex broker A5 Markets. According to the trader’s report, his Rs 20,000 deposit was not credited, nor was his trading account actually opened.

The victim transferred the amount via a personal transaction. Specifically, he sent the Rs 20,000 to an individual named "Zeruben Roylee" using Google Pay.

In this incident, the victim was asked to make an initial payment before opening an account, but ultimately a trading account wasn’t created on the A5 Markets platform. The suspect "Zeruben Roylee" may be an employee of A5 Markets, falsely promising the trader to help open an account on Markets. The circumstances of the case remain suspicious and ambiguous, as the trader was unable to provide specific details when asked for more information about the incident.

The deposit and withdrawal options offered by A5 Markets exclude Google Pay. Typically, the process involves opening an account first, followed by depositing funds to start trading. Being asked to make a personal transfer to open a trading account raises a significant red flag.

BrokersView advises traders against making payments to individual accounts or unknown persons without verifying the authenticity and legitimacy of their investment offers. Sending money via personal transactions, as in this case, increases the risk of fraud and complicates the situation. 

Furthermore, we emphasize the importance of conducting thorough due diligence when dealing with any broker or trading platform to avoid falling victim to financial fraud. Notably, A5 Markets has been labeled as a scam broker.

Exposing A5 Markets as a Fraudulent Entity

A5 Markets markets itself as a reliable forex broker, claiming regulation by the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA). However, our check revealed inconsistencies: the company listed in the SVG FSA's registry does not match the name "A5 Markets Limited." This suggests that A5 Markets may have misused the information of another entity. Please also note that the SVG FSA does not authorize forex brokerage activities.

Given that no additional regulatory information was provided, it is evident that A5 Markets operates without oversight from any recognized regulatory body. This lack of regulation poses significant risks to investors, as there are no legal safeguards in place to protect their funds. 

Trading with A5 Markets is highly risky, and investors are strongly advised to avoid entrusting their money to this unregulated forex broker.