Scam Helpers advise investors not to invest in Shangquan, as it is suspected to be a potential scam broker. Read a complete Shangquan review, and you’ll see that not all things are as good as they appear. We’re going to expose a scammer.
Address: Hong Kong
Warning: Not Recommended By Review Website Like Scam Helpers
Shangquan Review: Introduction
Shangquan is an online trading broker owned by Shangquan International. It claims to have been established in 2016, and the company’s headquarters are in Hong Kong. They also claim to provide different types of assets to their customers, like forex, commodities, indices, shares, and cryptocurrencies. The website can be found at shangquanfx.com, but it is currently inactive.
When we checked the details of its domain, we found that it was created in 2021, but they mentioned on their website that it was created in 2016. It is a major red flag that this broker is suspicious and not safe for trading services. Read a complete Shangquan review to learn more about this broker.
Shangquan Review: Regulation
Shangquan claims to have a license from the SFC – Securities and Futures Commission (Hong Kong) regulatory authority. But the reality is different from its claims. As we checked the regulated license in the SFC regulatory, we found no results about the Shangquan broker. Shangquan is an unregulated financial scammer that most likely disappeared with client money.
Shangquan claims to have a license from the SFC – Securities and Futures Commission (Hong Kong) regulatory authority. But the reality is different from its claims. As we checked the regulated license in the SFC regulatory, we found no results about the Shangquan broker. Shangquan is an unregulated financial scammer that most likely disappeared with client money. Always read the cryptocurrency list and forex scam list before trading.
Shangquan Review: Trading Platform
Unexpectedly, Shangquan did make an effort to offer a trustworthy trading platform. One of the best and most popular systems for retail traders, MT5, was distributed to customers. We must remind you of the broker’s regulatory status, even if this would be fantastic.
Although MT4 and MT5 are excellent trading tools, scam brokers will have no use for them. They’ll provide unregulated trading circumstances and make sure you lose all your money.
Shangquan Review: Deposit and Withdrawal Method
Shangquan offers several types of payment options to its users, including Neteller, Skrill, Wire transfers, Credit cards, and many more. The minimum deposit is not mentioned by this broker. Offshore businesses like Shangquan frequently care more about acquiring your money than they do about offering a reliable trading service. A larger minimum deposit could be a clue that a business is fraudulent!
Shangquan Review: Demo Account
A demo account cannot be provided by the broker. Instead, it is pressuring customers to invest right away. The initial deposit is a mystery, so broker staff must evaluate each consumer to see how much they can pay. The icing on the cake and a reason to avoid Shangquan and other fraudsters is a glaring lack of transparency.
Shangquan received negative consumer feedback and received low trust ratings across the industry. Scam Helpers discovered that Shangquan is not legitimate for offering trading services after reviewing all the positive and negative Shangquan reviews. Escape from this broker or any other unlicensed broker is preferable. On our Scam Helpers website, we provide a list of scam brokers 2022 that will assist you in avoiding scams involving cryptocurrency scams, foreign exchange scams, investment, or other types of scams.
Shangquan Review: Conclusion
You can never trade safely with an offshore or unregulated broker, and your money is always in danger. Avoiding the risk is preferable, and responding appropriately to fraud is also essential. You can submit a chargeback for fund recovery if you have been the victim of the Shangquan scam or any other scam. Submit a complaint using our online form. You can get a free consultation from our experts, and we will help you through the fund recovery procedure.
If you feel you are scammed – Report a complaint here
Visit our Facebook Page
Visit our Twitter account