FxEx Review – Shady broker luring new traders for money

FxEx broker would earn our top rating in anonymity. With the lack of some crucial info they already raise red flags. Additionaly, the broker has some disturbing conditions. Ones that can mostly get you into debt and huge losses.

To understand how to avoid losing your life savings and borrowing money, read this FxEx review carefully.

Also, we recommend you not to invest in the fraudulent brokers Abshire Smith, Atlantic Holdings Inv and Admiral Trades

Is FxEx a Safe Broker or a Scam?

Firstly, the broker openly lies about their awards. All of them are non-existent. Secondly, they are hiding their ownership and contact information. Thirdly and most importantly, they lack regulations. As New Zealand-based broker they must have a license from the FMA. But checking their register just confirmed our expectations.

Non-regulated broker. Openly lying about their awards. Extremely high leverage. Shady account opening procedure. Lack of ownership and contact information.

Not to mention that they lack any other Tier 1 regulation. We always check ASIC, BaFin and FCA as the most trusted regulators. But their database was as well empty. So, all statements about funds security, compensation funds and trading conditions become questionable with this broker.

What Platforms Does FxEx Offer? – Available Trade Software

Additionally, what raises our suspicion is their non-transparency about software. Even though they claim to provide the industry-leading Meta Trader, you can’t test it out.

Meta Trader is known for its reliability, fast executions and numerous tools that can improve your results. Even better, both MT4 and MT5 are allegedly available.

Trading For Mobile Devices

Another crucial benefit of Meta Trader is its optimized app for mobile devices. Whether you are an Android or iOS user, you can enjoy all its features.

More importantly without any discrepancies. But with a shady non-regulated broker like FxEx that is questionable.

FxEx’s Trading Assets and Instruments

Another key point is their instruments offer. This broker has a fairly poor offer missing some of the most attractive options.

Some available options are:

• Forex� � � � � � � � � � USD/JPY, AUD/NZD
• Commodities� � � � � � Only Oil & Gas
• Options� � � � � � � � � � � � � � � �
• Metals� � � � � � � � � � � Only Gold & Silver
• Cryptos� � � � � � � � � � Only Bitcoin

Compared with some Tier 1 regulated brokers this looks like a joke. Especially with insanely high leverage of up to 1:1000. While the maximum allowed in many regulated companies is 1:30.

FxEx Fraud Risk Zones – Service Countries

As we can see from FxEx reviews they are active worldwide. But every broker has its favorite countries. That’s why FxEx broker is mostly scamming traders from:

• United States
• Germany
• Japan
• India
• Ukraine

Many of these countries have very strict regulations and these trading conditions don’t comply with any of those.

What Are The Different FxEx Account Types?

Important to realize is that FxEx trading company doesn’t have standard account types. They offer :

• Individual� � � $50
• Corporate � � $50.000

Pretty much traders get the same conditions except for tighter spreads in the corporate account. But on the positive side, both accounts have swap-free options.

Can a Trader Use a Demo Account?

Another key point is the missing demo account. Instead of providing insight into their platform, they require you again to complete a full registration.

So, unless you want to provide personal information to this shady broker you can’t test their services. That’s why regulations are critical in choosing a broker. Mostly due to a higher transparency and security level.

The Importance of Negative Balance Protection For Traders

For many non-experienced traders leverage of up to 1:1000 is extremely risky. It can delete your account balance in a moment.

Therefore, regulated brokers mostly have negative balance protection to keep traders away from debt. But that’s not the case with the FxEx trading company.

FxEx Affiliate Program

More ways to get money from traders they achieve through affiliate programs. There are three options available:

• Introduce broker
• White label
• Money managers

All three are designed to reward you for bringing more people in a different way. Most traders get compensation as bonus funds. Which comes with a shady policy that doesn’t let you withdraw the money.

Terms of Service for FxEx

Even though this broker advertises trusted payment options they are questionable. Advertised ones are:

• Credit/debit cards� � � � � � � � � Visa/Master card/Amex
• e-payments � � � � � � � � � � � � � Skrill, Neteller, PayPal, FasaPay, UnionPay
• Cryptocurrencies � � � � � � � � � BTC

The only way to test if this is true is by registering. But from some FxEx reviews, we can see that they mainly use cryptos due to anonymity and hard traceability.

Leverage, Spreads and Fees

In general, every leverage above 1:30 is suspicious. There are exclusive cases where Pro traders are allowed to get higher leverage. But with certain limitations and strict regulations. However, this broker is not regulated and the obvious goal is for traders to lose funds.

With spreads starting from 2 pip for Individual accounts, that’s way above average. But even more suspicious are fees. The broker doesn’t reveal any, which is sketchy at best.

Scammed by a FxEx Broker? – We Want To Hear Your Story.

Don’t hesitate to share your story with us. Getting scammed can happen to anyone. But nobody should let swindlers get away with their money.

That’s why our specialized team can advise you on any further step. If you were a victim of the FxEx scam, you can start your chargeback process today. Our team can trace even hardly traceable cryptos with advanced software – Cipher Trace.

What Is the Chargeback Procedure?

Once you make a purchase with a debit/credit card, you can reverse it. But only in the first 18 months. That’s why it’s important to act quickly.

Our fund recovery team can go through your case already today. Book your first meeting now. Even better it’s going to be free of charge.