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100XFX Review - is it scam or safe?

100XFX Review - is 100xfx.com scam or good forex broker?

RATING: 1.1 / 7 REVIEWS 100XFX
100XFX is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts & Conditions

 

Account type Min. deposit  Max. leverage Spreads
Bronze $500 1:200 2.0 pips, fixed
Silver $2 000 1:200 1.5 pips, fixed
Gold $10 000 1:200 1.2 pips, fixed
VIP $30 000 1:200 0.8 pips, fixed
Islamic $2 000 1:200 2.0 pips, fixed

 

100XFX offers the account types listed above, all of which are said to provide commission-free trading on the MetaTrader 4 platform with fixed spreads, and leverage up to 1:200. Unfortunately, this forex and CFD broker does not offer free demo accounts and we could not verify its trading conditions. Besides, we find other negative aspects of 100XFX’ offering. Read the full review for all the details.

 

 

100XFX Advantages

 

MetaTrader4 supported

The MetaTrader 4 (MT4) is the most widely used forex trading platform and is praised by both beginner and professional traders. That is why we always consider its availability in a forex broker’s offering as an advantage. The MT4 is easy to use and yet offering a bunch of advanced features - great charting package, wide range of technical analysis indicators, Expert Advisors, the MQL marketplace and many more. 

 

 

>> Find a better MT4 broker <<

 

 

Wide range of trading instruments

Another possible benefit of using this broker is the fact that it offers trading in various financial instruments. Its product portfolio features currency pairs, and many CFDs - on commodities, indices, precious metals and cryptocurrencies. The latter are currently one of the hottest assets and many brokers have launched trading in Bitcoin, and other popular coins, such as Ethereum, Litecioin, Dash and Ripple. However, few of those companies are reliable and licensed.

 

 

>> Tightly regulated forex brokers offering Bitcoin CFDs <<

 

 

Up to 1:200 in leverage

100XFX offers default leverage of 1:100, which can be extended up to 1:200 upon request, subject to the Company’s approval.

 

A leverage of 1:200 should be enough for most traders and is not as dangerous as a ratio of 1:500, which is offered by many brokers. Higher leverage involves higher risk, not only the probability of multiplied profits earned on a relatively small deposit.

 

 

100XFX Disadvantages

 

Not regulated, CONSOB warning against it

100XFX is allegedly owned and operated by 100XFX Ltd., a company that seems to be based in UK (judging by the contact telephone number it provides). Nonetheless, the firm is not licensed by UK’s FCA or another European regulator. Instead, it is incorporated offshore, in the St Vincent and the Grenadines. What is worse, we found that the Italian regulator, CONSOB, has issued a warning against 100XFX, as probably some local investors have filed complaints against the broker.

  

No demo accounts

Unlike most brokers, 100XFX does not allow users to test their services via a free demo account, which makes it even more shadier.

 

High initial investment required

Usually brokerages require something in the range of $100 - $200 as a start. Companies that demand higher initial deposits are usually regulated and target professional players. That is why we consider the $250 required by 100XFX for opening an account a relatively high investment. By comparison, one can open an account with top-tier Brokerage IG by investing a couple of bucks.

 

 

Conclusion

 

Although 100XFX seems to offer various account types and instruments to trade on the MT4 with seemingly competitive spreads, we have some serious concerns about this broker. First, is registered offshore, and there is a regulatory warning against it. Second, 100XFX does not provide free demo accounts and the initial deposit it requires for live trading is quite high.

 

As most of you probably know, investing in unregulated or offshore brokers is extremely risky and their clients may lose all money they have deposited and even potential profits. That is why we advise our readers to select among tightly regulated brokers, such as the ones licensed by UK’s Financial Conduct Authority.

 

 

>> Brokers regulated by UK’s FCA <<

 

 

To sum up the positive and negative sides of 100XFX:

 

Pros Cons
MT4 available Registered offshore, regulatory warning against it
Sufficient leverage No demo accounts
Many financial markets covered High initial deposit required

 

Latest news about 100XFX
No news about 100XFX . Check back later.
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Traders` reviews for 100XFX

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Revised opinion of last publication regarding 100xfx

The background to my former remark, regarding this platform:

Trader went abroad without informing me on forehand and no other trader were applied during this time. Since this I had no contact. Out of this reason, and encountering former scam platforms, I just have had enough! Not another scam platform - again! Than this first withdraw request was reduced to 50% from original, after discussion. After return and having had open discussions about this, trade continued and 2 other withdraws were made. The last with a much long delay. As to the platforms explanation depending upon hands go between handling the transfer and error in their computer program.

As is, this 100xfx platform likes to take legal action since my first publication. This also remains to be seen what decision this platform might like to take and if they would return any remaining funds being on my account with them.

As a sum up of this story, things went out of hands by former bad experience on the market and lack of proper communication in the right time. Then I was unable to find this website again, until given address by my former trader, and this herewith published text is being a result. As for others to trade and other related contacts, each and one has to make up their own mind.
And now I am getting "wrong security code" from this website, at publishing this text.

H. von Bortzell Szuch 12/05/2018

Withdraw but $ never come

I was trading with this company and I put my wife too in so we can earn money but now my wife trying to withdraw for a month still nothing get back to us . Please I need to let me know what happen cause we cant keep waiting for reply cause I start to loose interested because its look like a scam. please help me or try to withdraw the money please for my wife Sanjani Sharma Potesio

Sione Potesio 10/24/2018

100xfx are THIEVES!!

Ladies & Gentlemen,

100xfx are THIEVES

Kindly do not trust this whatever for a second! I have been trading with them, and on first withdraw it was first reduced to 50% and then I never received it, and on the following day the platform simply deleted my account with all remaining trading and funds. That is pure theft, no less no more. A matter for any police force and court.

Trader was a lady, calling herself Jessica Jordan, operating out from London, as to her own say. No reply or contact after this event.
This occurred 2018 20/9.

H. von Bortzell Szuch 09/21/2018

100XFX is an incorrect broker

la mia opinione è che trattasi un broker non corretto, lo si cerca di contattare e non è possibile, si richiede l'accredito delle somme versate e non si ottiene alcun riscontro, certo che non si può avere fiducia e stima

Translated by Google:

my opinion is that it is an incorrect broker, we try to contact and it is not possible, we require the crediting of the amounts paid and we do not get any feedback, of course we can not have confidence and esteem

Stefano Sgroi 09/07/2018

truffatori in tutto e per tutto

state lontani almeno 1 ora di aereo da questi Ladri
quando chiedi un prelievo ti aprono senza nemmeno conultarti una operazione destinata a enerare fortissime perdite per bloccarti il conto una mia amica che ha operato con loro e che li conosce bene è stata contattata da un consulente certo Parisi, che gli ha fatto perdere oltre 20000 euro queste merde umane dovrebbero essere tolte alla circolazione nel mercato finanziario

Translated by Google:

you are at least 1 hour away from these Thieves
when you ask for a levy they open you without even conultarti an operation destined to enere strong losses to block the bill a friend of mine who has worked with them and who knows them well has been contacted by a consultant certain Parisi, which made him lose over 20000 euros these human shits should be taken out of circulation in the financial market

annamaria 08/10/2018

100xfx svindel

hejsa hello everything they promised did not suit they tried to clear my bank account and the money I deposited in their account I can not get out again and they have been halved by any trade they have made so beware of them it's a fraud firm

Boerge Bondeven Frederiksen 07/26/2018

Insistenti

Sono molto insistenti e chiamano con un numero di cellulare normale e quando lo si blocca ne usano altro...

Translated by Google:

They are very insistent and call with a normal cell phone number and when they get stuck they use more ...

Stefano Velizzone 07/18/2018
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