This FCX Trade review will analyze the broker’s operations, focusing on red flags and tips for recovering lost funds if scammed.
FCX Trade Broker Overview
- Website: https://fcxtrade.com/
- Website Availability: YES
- Headquarters Country: United Kingdom
- Owned By: FCX Trade International Limited
- Blacklisted by: International Financial Services Commission (Belize)
- Domain Age:
- Name: FCXTRADE.COM
- Registry Domain ID: 2773879650_DOMAIN_COM-VRSN
- Registered On: 2023-04-18T08:44:20Z
- Expires On: 2026-04-18T08:44:20Z
- Updated On: 2024-09-05T07:44:46Z
FCX Trade incorporates itself as a well-rounded online trading platform catering to multiple financial instruments like forex, commodities, indices, cryptocurrencies, stocks, and ETFs. The platform claims to be a “trading solution for leading global brokers”. However, the self-proclaimed brand is not transparent about its operational workings and regulatory status. Evidence using which potential investors might worry is given above.
Warned By International Financial Services Commission
This company, FCX Trade, has issued a warning by the International Financial Services Commission of Belize regarding its provision of non-licensed financial services in Belize. It is cautioning a great deal to transact with this. In terms of the same sense, in order not to undertake business transactions, the respective warning notice from the Financial Services Authority (FSA) of St. Vincent and the Grenadines against FCX Trade LLC reads to the people.
Warning Signs and User Complaints
Many user complaints online have highlighted the following issues: difficulty withdrawing money, misleading advertisements on trade profits, and customer service not responding to inquiries. These patterns appear to suggest that FCX Trade or rather exploiting unsuspecting investors.
Suspicious Scope of Business
FCX Trade claims to offer a wide variety of trading instruments and also support the MetaTrader 4 (MT4) platform. Yet, it is on these grounds that there is no regulatory oversight, and also transparency in its operations undermine the legitimacy of its business scope. Investors exercise caution and carry out due diligence to such an extent before trading deals with FCX Trade.
Avoid These Popular Online and Financial Scams
Scammers have various ways to get into the minds of people and take away money from them. Here’s the list of scams:
- WhatsApp Scams: Scammers pretend to be officials, friends, or investment consultants. Their task is to lead the victim to invest in fake schemes or attempt phishing.
- Telegram Scams: Scammers create bogus groups and pose as real businesses to promote fraudulent investments, fake giveaways, and Ponzi schemes.
- Ponzi Scams: Their promise is of high returns and low risk, which is paid by new investors to earlier ones until the scheme collapses.
- NFT Scams: Scammers create bogus NFT projects, artificially inflate the price of NFTs, or simply dupe buyers into purchasing worthless digital collectibles.
- Amazon Scams: Fake Amazon representatives trick users into leaking personal details via fake order confirmation emails, refund scams, or phishing websites.
Is FCX Trade Broker Legitimate?
Using the following aspects, we try to confirm the legitimacy of FCX Trade Broker:
- Regulation Status: Legitimate brokers are regulated by the SEC, FCA, or ASIC. The lack of regulatory information is a big red flag.
- User Reviews and Complaints: Complaints from dozens of investors regarding lost funds and withdrawal issues point to scamming.
- Transparency and Credibility: Lack of company data, hidden fees, and misleading terms are signs of fraud.
How to Get Funds Back from FCX Trade Broker?
If you got scammed by FCX Trade Broker, these steps might help you recover your funds:
- Report to Your Bank or Payment Provider: Refer to transactions made without your permission and file a chargeback request.
- Collect All Evidence: All communications, transaction receipts, and screenshots should be consolidated as proof of the scam.
- Complaint Registration with Financial Authorities: Report the scam to the regulator within your country.
- Consider Seeking Professional Help: Recovery experts can follow the money trail and launch a lawsuit against the fraudulent brokers.
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New fraudulent schemes targeting traders are something we are constantly keeping an eye on across the internet. Having gathered data on scam brokers for over ten years, we hardly can think of any other untrustworthy company in the market. Information about the scammers is provided below from our List of SCAM Brokers.
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Stay informed and trade wisely!