Investing, trading, lottery, market predicting and playing games to earn are just some of the features this illicit platform offers. Although the portal operates under no legal supervision, they don’t shy away from offering staking, mining crypto assets and trading with just $1.
Before you continue having false hopes about earning quick, we recommend you read this FxBox review.
| Regulated by: | Unregulated Broker |
| Is This Company Safe? | No, this company owns no valid license so they cannot be trusted! |
| Known Websites: | fxbox.io |
| Have Warnings from: | N/A |
| Registered in: | N/A |
| Operating since: | 2022 |
| Trading Platforms: | Proprietary App |
| Maximum Leverage: | 1:1000 |
| Minimum Deposit: | $1 |
| Deposit Bonus: | No |
| Trading Assets: | Forex, Crypto, Commodities |
| Free Demo Account: | No |
| How to Withdraw from This Company? | This is not a verified trading portal so you can’t trust them with payouts! Better solution is to contact our chargeback advisors. |
All Info Hidden
The FxBox investment fraud has their company details carefully concealed from the public eye. The lack of transparency when it comes to corporate data is the first red flag that shouldn’t be ignored.
Out of the alleged development team and company leadership, we’ve only managed to find one among those individuals, known as Andy B.
Now, this guy is not just an alleged Forex expert with over two decades of trading experience. He’s also known for hosting various events on the subject of crypto awards, promotions, and investing. In other words, he’s a scam promoter.
How the Hoax Works
The fxbox.io scheme was launched in early 2022, and is actively targeting people from these regions:
- United States
- Turkiye
- Kenya
- Brazil
The fraudsters use Medium and X social networks in conjunction with Telegram and Discord chat to reach out to a large audience. In order to pass as a tech startup, the platform has a GitHub repository, which is actually empty and contains no code or apps.
That’s not all, as the firm actively commissions paid articles on various media to serve as FxBox reviews and endorsements. All these external links serve as a basis for the actual con scheme.
The main pitch this scam company is trying to sell is that of “Play to Earn Financial Games”. The idea that they are “playing” and not participating in volatile financial markets makes the platform users less averse to the inherent risks. While playing the game costs real money, “winners” are rewarded with proprietary FXB Token.
Insane Terms on Most Volatile Assets
As if risking your life savings while investing in most unpredicted markets is a good thing, the FxBox Forex leverage can reach a maximum ratio of 1:1000. Such terms are just crazy, considering the regulatory limitations to 1:2 or 1:5 for crypto. Pullix offers the same exposure which means not all regulated firms can be trusted, either.
Spreads on the other hand usually depend on the account type. On average spreads start at 1.5 pips on FX pairs. Participation in the Oracle GameFi is charged a 5% fee per side, and the firm takes an additional 5% of the total pot value.
Lucky Box, Lottery and Other Traps
The so-called Lucky Box can be bought by a 90 USDT investment. It is opened once and generates one random FxBox NFT. Each has a mining power and the ones with greater mining power are more rare so you’re motivated to endlessly buy new boxes.
Decentralized lottery forces you to buy chips of $1 or $5 values. With that, there’s various other promotions that users can take part in by trading and depositing. Everything allegedly relies on pure luck and anyone can win. That is, if you believe a gambler’s logic.
Inferior Trading Features
Any trading amenities with this company are laughable when compared to legitimate competition. It’s good enough to run a scam circle though and keep the victims occupied. As an unlicensed service provider, the company is under no obligation to actually pay out your earnings.
Web FX Trading App
The FxBox app for leveraged trading is available in the form of a web trader and an independent desktop app which we do not recommend downloading.
Although it does provide an option to customize the watchlist, look at forecasts and keep up with the economic calendar, that is pretty much all. Customization options for the graph do work, but they mean little with the portal itself is not reliable and lacks premium analytical tools.
Bashed Mobile Terminal
The mobile app in the App Store is rated with a miserable 1.7 out of 5 stars rating. Users are openly calling the app a scam which eats deposits and doesn’t complete transactions.
The terminal is completely differently named in the Google Store, yet only has a little over 1k downloads which means it isn’t overly popular, either.
Oracle GameFi
This app is marked as being in Beta, but clients with a FxBox login can still waste money on it. It is an incredibly simple program, showing only an asset chart and featuring a “buy up” and “buy down” functions.
The “game” functions as your typical binary options scam. The difference is, with this platform you don’t get any funds back, your reward is credited in FXB.
Laughable Selection of Instruments
The firm features a grand total of 10 individual instruments, divided into 3 major groups:
- Forex – EUR/USD,GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD
- Cryptocurrency pairs – BTC/USD, ETH/USD
- Commodities – Brent, Gold
Proprietary Crypto Token
The main asset used to provide liquidity with any “games” available on the site is the proprietary FXB Token.
It is a worthless arcade ticket which serves as a reward for successful speculation. As CoinMarketCap, CoinGecko and CoinPaprika report, the current value of this token is $0.00001537 and dropping.
Accounts Specifications
The packages sold by this fraudster are marketed as a perfect balance between traditional service and modern solutions.
Alas, nothing in essence makes this offer any more realistic compared to what other illicit sites offer. Here’s the accounts available and the FxBox deposit requirements:
- Micro USD – $1
- Mini USD – $100
- Mini FXB – $100
- Standard USD – $500
- Standard FXB – $500
Opaque Withdrawal Policy
The company does not openly address any deposit or withdrawal conditions. The best source of information on the topic are a couple of FAQs on the page that addresses payments and payouts.
The provided payment channels include a selection of different coins, stablecoins and the proprietary company token. For the benchmark Bitcoin transaction, users can expect a fee of 0.00025 BTC. The company says that they will allow clients to deposit and withdraw via bank cards and e-wallets “soon”.
Unofficial Support Channels
Clients can only contact the company via email. Now since this doesn’t mean a timely response, the site encourages users to resort to less popular methods.
By these we mean WhatsApp and Telegram apps, which are known to be handy tools for financial cons to manipulate victims through encrypted chats just like in the case of Neocrypto.
Get Your Money Back From These Frauds!
This company is trying to make risky investments seem like a game. Their users are gambling the fortunes away, unaware of the inherent risks.
If you are having trouble with FxBox withdrawal, contact our legal team. You may reach us at any time by using the live chat on our site.
FAQ Section
What is FxBox?
It is an illegal online gambling parlor that uses pretense of decentralized trading to defraud victims.
Is FxBox Legit?
No, the company is completely illegal. If you need help recovering money from this scheme, contact our experts via the live chat.
Who Owns FxBox.io?
It is unclear who owns the site. One implied founder is named Andy B, but this is most probably a fake persona.
Source:
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