- 0.1 FisherIH
- 0.2 Pros
- 0.3 Cons
- 1 FisherIH Review
- 1.1 Is FisherIH Safe?
- 1.2 Trading Platform
- 1.3 FisherIH Broker Breakdown
- 1.4 High Minimum deposit
- 1.5 Beware of managed account from a Market Maker
- 1.6 Unacceptable withdrawal conditions
- 1.7 Are Funds Safe with FisherIH
- 1.8 FisherIH License
- 1.9 Our best advise for you
- 1.10 FisherIH Review Conclusion
- 1.11 Compare FisherIH
FisherIH is an unlicensed Forex and CFD broker owned and operated by Fisher investment house Limited. address: 20 Fenchurch St London, England. UK phone number : +442036954674. FisherIH does not have a license whatsoever, and what is worse, they appear to be blacklisted by the Financial Services and Markets Authority (FSMA) in Belgium, as a potential scam broker.
Scam artists are known to create visually compelling websites in an effort to entice unsuspecting investors. It seems to be working with FisherIH as they have been able to solicit funds from investors. We feel it is our duty to protect the good Forex trading name by exposing these rogue platforms. Thanks to our years of trading experience, we know how to spot a scam from a mile away. Get to know the tricks used by scam artists to steal funds from investors without breaking a sweat.
Another problem with FisherIH is lack of credible information regarding ownership. Who are the actual owners of this website? Is it possible to know the names of the founding members? Who are the people running this website and why haven’t they posted their actual names? Now you know why you should stay away from this and any other online anonymous platform.
FisherIH is an obvious scam. They are not regulated, they offer managed accounts while acting as market makers, and they have been blacklisted by the financial authorities in Belgium. Our best advise here is to trade only with properly licensed brokers, like the ones authorized by the FCA in the UK, the Australian Securities and Investments Commission (ASIC), or the Cyprus Securities and Exchange Commission (CySEC).
Any investor who signs up with this platform should expect a rough trading period. Stay away from these scam artists who are based offshore.
Is FisherIH Safe?
Forex Broker Expert reviews brokers for readers across the whole world to know whether they worth your time or not. We use a trust score algorithms to asses risk level. They major criteria we use in grouping a forex broker in to risk levels include total years in business, which regulatory licenses each firm holds, is the broker publicly traded in any stock exchange as well as our manual in house check.
FisherIH has a trust score of less than 50% which shows High risk. After checking their terms and conditions, it is clear FisherIH is not licensed or registered. A licensed entity will have solid proof of their registration on their website. If you look at their entire website, there is no information regarding their license status. We also checked with various online regulatory bodies to check their license status. Some of the bodies we contacted include ASIC, COSNOB, CySEC, FCA, NFA, and SEC. None of these bodies has ever heard of this platform.
What about posting copies of their license for members of the public to see? FisherIH does not post any documents since they are not dully licensed. You can also note their homepage does not have any registration number at the footer of the page. With this concrete proof, we are sure they are offering illicit trading services. No one is safe from this platform as they are simply out to steal funds. Investors are not protected and their funds are stored in a private or personal bank account.
What is worse, they appear to be blacklisted by the Financial Services and Markets Authority (FSMA) in Belgium, as a potential scam broker.
After checking their licensing, the next step was to check how their platform works. Fisher is selling a web based platform, lacking some basic functionalities, readily available with professional trading platforms like the MetaTrader4.
MetaTrader4 on the other hand is equipped with nearly a hundred integrated market indicators and trading robots with the help which you can easily run algorithmic trading sessions. On top of that MT4 comes with an excellent set of advanced charting tools, see metatrader here.
FisherIH Broker Breakdown
Location: ? UK
Minimum deposit: $5000
Leverage: Max 1:400
Assets: Bitcoin, Ethereum, Ripple, Monero, Ethereum Classic, Bitcoin Cash, NEM and Dash
Support MT4: No
FisherIH says to be offering “a simple solution to all your trading needs via a simple managed account”. And they seem to be focused on the crypto currency market, talking about investment opportunities in coins like Bitcoin, Ethereum, Ripple, Monero, Ethereum Classic, Bitcoin Cash, NEM and Dash, with a choice of five account types, leverage as high as 1:400 and a web based trading platform.
FisherIH is furnishing users with five different account types to choose from. Investors can choose to have Standard account, Silver, Gold, Diamond and VIP. These accounts are used to entice users into believing this is a legit platform. They even have different depository requirements to target different classes of investors. Beware! Some of the features posted are not available.
High Minimum deposit
FisherIH minimum deposit is $5000, which far higher than the recommended minimum deposit.
Forex Broker Expert recommends average minimum deposit amount is $100 in the Forex brokerage industry. Most of the brokers require a minimum deposit at this level. Some even go as low as $5 or none at all.
Beware of managed account from a Market Maker
Though market makers are liquidity providers that make money whenever traders lose, one thing about using a market maker is reduced slippage and spreads. But Market Maker offering a managed account is a no for us and they never make it to our best Forex brokers page. Otherwise, if you accept managed account offer from a market maker, they will clearly be in a conflict of interest as they will have an incentive to “lose” your money in their own pockets.
Unacceptable withdrawal conditions
We do not recommend Forex brokers that impose any restrictions on your right to withdraw your own money, see here.
In their Terms and Conditions FisherIH wants you to agree that you will not be able to withdraw your funds, while they are being “managed”
Are Funds Safe with FisherIH
Segregation of accounts is also another problem as FisherIH is pooling funds in one account. And we have a feeling they will cash out once they have their pockets fill. Stay away from this platform as they don’t insure funds stored in their account.
When the Forex Broker Expert reviews a new Forex or CFD broker, the best way to know if they are a legitimate broker is by checking for a valid license and the quality of the license. Many legal Forex brokers, are licensed by a local regulator like ASIC in Australia, FCA in the United Kingdom or by FSB South Africa.
FisherIH is not a licensed broker. The company registration number on their website does not make it legitimate.
Blacklisted Broker – FisherIH – Beware!
Our best advise for you
After checking all the moving parts of this website, we are sure FisherIH is a scam. To stay safe, ignore all their pleas to sign up. Promotional materials such as videos and links should be ignored. Hackers are using these links to gain access to your data. Mark all their emails as Spam and warn your family and friends from joining this broker. Stay safe at all times by using recommended Forex trading tools and brokers.
FisherIH Review Conclusion
What should be done is adding this broker to our scam blacklist. After making sure this broker is exposed, authorities are asked to investigate and shut this website down. Time to make the right decision is now. Stay away from brokers who lack proper licensing credentials and simply want you to deposit with them.
Your time to make a move in the Forex trading world is now. Sign up with efficient brokers today, read more.
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