ForisdaxLtd

I requested my data from ForisdaxLtd under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.

After spending since last summer trying to make ForisdaxLtd work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.

I found ForisdaxLtd through a podcast recommendation and the initial impression was positive. But since last summer later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.

Several red flags with ForisdaxLtd: (1) They promise unrealistically high returns, (2) They're not registered with Malta Financial Services Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.

After since the beginning of the year with ForisdaxLtd, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.

The only good thing about ForisdaxLtd is that they remind you why regulation matters. I found them after attending a webinar they hosted. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.

I was contacted by ForisdaxLtd through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.

Customer support at ForisdaxLtd seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.

The hidden fees at ForisdaxLtd are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.

I looked into ForisdaxLtd and found they appear in the regulatory warnings database. Malta Financial Services Authority has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.