Chrono FM Review Scam Complaint
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Chrono FM is an offshore broker providing forex and CFD trading services. The broker is based in Bulgaria and is not regulated from any of the financial authority there. Chrono FM is owned and operated by Pentacle Group Ltd and Sanata Group EOOD; both of these companies are also not regulated from any government authority. Such lack of regulations is nothing more than all risk. Therefore, if you are thinking to invest with this broker you must first go through the below given review.
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About the Chrono FM:
Chrono FM is an unregulated offshore broker that hasn’t bothered to provide the relevant details regarding types of accounts it offers and the conditions for trading. The one good advantage with this broker is the rich range of products, which includes various forex pairs, including exotic and minor ones, it also has various CFDs. Clients of Chrono FM can trade CFDs on precious metals, indices, commodities, and several of the very popular cryptocurrencies like Bitcoin, Ripple, Ethereum, and Litecoin. Important to note that ChronoFM claims to offer CFDs on stocks, but there are no such instruments available on its web based platform.
Chrono FM has done nothing to present the trading conditions that it offers. As there is no mention of them and along with it what worse is that it has no demo account so for testing its services like spreads, leverage, etc, one has to open a live trading account with them. This is one big red flag regarding Chrono FM as it is not only lack of transparency and commitment but a complete cheating with client. The spreads fixed at 3 pips offered by Chrono FM are higher than most fixed sprea. Instead of the industry standard MetaTrader 4 platform, Chrono FM offers its clients some unproven web based platform that is oversimplified.
Is Chrono FM legit or scam?
Chrono FM is an unregulated shady broker whose trading conditions are unspecified. On top of being unregulated, the broker Chrono FM has been blacklisted by Italian financial regulator CONCOB, CONCOB has also ordered Chrono FM to cease offering and providing investment services and activities to the Italian public without any authorization. Chrono FM is a clear scam broker because it doesn’t possess any trait of a legit broker. Hence, we would advise he traders to not invest with this broker as your money is not at all safe with them.