Cheonan International does not meet the criteria of a reputable broker. Their operations are conducted through a website that displays poor English translation, originating from an uncertain source language, all the while maintaining an air of complete anonymity and evading any form of regulatory oversight. Explore the controversies enveloping this dubious broker by delving into this comprehensive Cheonan International Review.
To compound matters, their Terms and Conditions are entirely inaccessible, leaving potential clients in the dark regarding crucial contractual details.
Website – http://www.cheonan.uk/en/
Website Availability – No
Address – NA
Warnings – Comisión Nacional del Mercado de Valores (Spain)
Regulation – Unregulated
Cheonan International Review: Regulation
Cheonan International asserts its operational connections with multiple entities, including Blackwell Global Investments Limited based in the United Kingdom. However, upon scrutiny, we discovered that the trading name provided by Cheonan International does not correspond with Blackwell’s FCA license.
This situation becomes even more concerning as Blackwell Global Investments Limited has taken the initiative to alert traders and investors about the illicit exploitation of their name by fraudulent websites, Cheonan International being among them. It’s crucial to acknowledge that your deposited funds are in jeopardy if entrusted to Cheonan International, given that it operates as a clone firm.
Cheonan International Review: Trading Conditions
Cheonan International claims to offer traders access to both MetaTrader5, widely recognized as a premier retail Forex platform, and MetaTrader4. While the demo account showcases an EUR/USD spread of 0.8 pips, it’s important to note that the applicability of these conditions to real accounts cannot be assured.
During the registration process, we encountered an issue as the SMS verification code was not received, impeding our ability to access their Client area and establish a genuine account. The maximum leverage available stands at 1:400, a level that is now regarded as insufficient for the needs of retail traders.
Deposit and Withdrawal Methods
Cheonan International refrains from explicitly mentioning this; however, if possible, it is advisable to opt for card payments. These transactions grant you the privilege of initiating a chargeback within 540 days following any transaction, should unforeseen issues arise – a significant assurance especially when dealing with a broker like Cheonan International.
The minimum deposit requirement at Cheonan International remains undisclosed. While the notion of depositing an amount of your choice might seem enticing, it’s worth considering that other brokers offer micro accounts, which typically carry an average cost of no more than $10. This serves as a reminder that the entry cost to engage in Forex trading has reached unprecedented lows.
Is it safe to invest with Cheonan International?
Regrettably, this establishment does not inspire confidence as a trustworthy entity. The presence of multiple red flags is evident across various aspects of the company. To make matters more concerning, transparency towards clients appears to be lacking. The divulgence of essential investment details is notably absent, and the founders operate in a shroud of secrecy.
The situation takes a more disconcerting turn as the company operates without regulatory oversight. They resort to misrepresenting their regulatory status to allure potential customers, despite a distinct absence of verifiable evidence supporting their claims. A notable observation is their absence from the records of regulatory bodies across multiple platforms.
What’s more, the website fails to furnish any certifications that would substantiate its security measures. Consequently, the platform remains vulnerable to hacking attacks, exposing clients to the risk of financial loss and potential compromise of their sensitive personal data.
Cheonan International Review: Conclusion
Entities such as Cheonan International primarily enter the market driven by financial motives. Their strategy revolves around enticing prospective investors with an array of alluring features. It’s crucial not to place trust in such companies. The outcome is often the disappearance of your invested funds, leaving you with no recourse for assistance.
If you find yourself falling victim to the Cheonan International scam or any other form of fraudulent activity, help, and resolution are within reach. By utilizing our Scam Bitcoin website to file a complaint, you open the door to a free consultation with one of our dedicated specialists. Their primary aim is to guide you through your predicament and assist in finding a viable solution to address your concerns.
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