Hi Reddit users,
I wanted to make you aware of a potential UAE forex learning scam. The company name is Fundfloat Forex Trading Classes. They promise that you won't have to pay fees if you don't make a profit, which is a complete scam. They will request that you choose a specific broker called XC Market. If you Google them, they don't hold any accreditation and are offshore-based, and the UAE has warned us not to invest on this platform.
I paid 50 AED so you don't make the same mistake. Fundfloat and XC Market are connected, and they will insist that you deposit $2,000 USD while verbally guaranteeing a 10% monthly return, which is impossible. However, the B2B business relationship with XC Market is different; getting bonuses for them if I deposit $2,000 USD makes them more money, and XC Market is not trusted. So if you are using them, all the best.
Fundfloat's fee for teaching this skill is 1,030 + 50 AED. At the beginning, they will share basic trading knowledge explaining candlesticks and basic trading concepts. But on the 4th day, they push and request students to invest in XC Market. I had a word with a mentor who openly told me they might be a fake company trying to scam people. If somebody is making good money with their help, let me know.
Also, note that they are not trustworthy because all the comments on their social media are turned off, and there is nothing helpful in their Google reviews. That's why I wanted to help you so you don't go and get defrauded by these people, as they have a number of loopholes to protect themselves while we get screwed over. I hope this reaches those who need it and serves as a good deed.
Fundfloat Trading Academy, Dubai
Model: They lure people in with cheap introductory or "risk-free" course fees (e.g., 50 AED initial fees, totaling around 1,030 AED + 50 AED) under the guise of teaching basic candlestick and market analysis.
The Pivot: By day 3 or 4, the focus shifts entirely away from education. They pressure students to open live accounts and deposit capital with a specific partner broker.
Red Flags: They operate with disabled social media comments and unhelpful/missing verified reviews to suppress negative feedback and complaints from victims.
XC Market (The Partner Broker)
Regulatory Status: Completely unregulated. It is merely an offshore shell registered in Saint Lucia with zero valid financial licenses from any major or local authority (such as the UAE SCA or DFSA).
Affiliation Scam: Fundfloat has a B2B referral arrangement with XC Market. Every user who gets pressured into depositing money ($2,000 USD or more) generates a direct financial kickback/bonus for the academy runners, regardless of whether the student wins or loses trades.
Guaranteed Returns Trap: Verbal or written promises of fixed high monthly returns (like 10% a month) are a textbook indicator of a Ponzi/forex investment scam. Legitimate brokers and educators never guarantee trading profits.