Safeguardfx

jm174

has anyone come across this american company? My elderly father has been 'cold called' by someone from Safeguardfx offering him the opportunity to invest money which would involve him setting up an account in the states. They have a website (https://www.safeguardfx.com) which appears kosher but I would appreciate any info anyone has about the company or from anyone who has dealt with them
many thanks

dunstonh

Cold calling like that within the UK is illegal. Not much can be done to stop a US based company doing it though. They are not on the FSA register so there is no consumer protection when it goes wrong. The FSA also have warnings on their website against companies like this under their scams section.

deemy2004

has anyone come across this american company? My elderly father has been 'cold called' by someone from Safeguardfx offering him the opportunity to invest money which would involve him setting up an account in the states. They have a website (https://www.safeguardfx.com) which appears kosher but I would appreciate any info anyone has about the company or from anyone who has dealt with them
many thanks

Appear kosher ?

Look like fly by nights to me

They smell like an introducing broker to me, whats an introducing broker I hear you ask ?

Well it basically exists to get clients for a real broker and get a slice of the spread of every trade thats put on. So they are not even a real broker.

This shows through in that they fail to mention the actual bid / offer spread that the client will get.

Also I would guess that the actual broker will NOT be based in the USA, so whether you would be able to draw your funds back from the company is another matter regardless.

There are many reputable FX brokerages such as CMC with tight spreads available for gambling on the FX markets.