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FxFinance Review - Is it scam or safe?

FxFinance Review - is fxfinance-pro.com scam or good forex broker?

RATING: 1.3 / 3 REVIEWS ForexBrokerz FxFinance
FxFinance is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Trading Account  Minimum deposit  Min. trade size Maximum leverage Spreads
Standard $100 0.01 1:100 3.0 pips, fixed

 

Clients of FxFinance have are offered a single account with leverage up to 1:100, commission-free trading, fixed spreads, and micro tradeable lots on the MetaTrader 4 platform. Besides, there are VIP account options for those who deposit $50 000 or more.

 

It looks like FxFinance is yet another unregulated market maker. It offers fixed spread only, no ECN technology, no license whatsoever, and it offers various bonuses and promotions to attract clients. What is worse, we find its spreads too high – most fixed spread brokers offer 2 pips spread for the EUR/USD pair (and some even lower). Unlike most unregulated/offshore brokerages, however FxFinance provides mediocre leverage – up to 1:100.

 

The Company. Security of Funds

 

Company

Country

Regulation

FxFinance PLC

Russia

N/A

 

FxFinance is a Russian broker that claims to have more than 10 years of experience on financial markets. It offers trading in forex and shares and indices CFDs, as well as precious metals on the popular MT4 platform.

 

The company behind the brand is FxFinance PLC (ГК FxFINANCE) and it is not regulated in Russia, nor anywhere else. It is note even registered offshore – the common practice of many Russian brokerages.

 

We do not recommend investing with non-regulated (and offshore) brokers, because no authority is overseeing their activity, they are not obliged to keep client money in segregated accounts, nor to meet any capital adequacy requirements.

Investing with such brokers is extremely risky and that is why we advise traders to choose among brokers regulated by the FCA, ASIC or another trustworthy regulatory body.

 

Trading Platform

 

FxFinance offers its clients the most popular software in the forex industry - MetaTrader 4, available as desktop and mobile versions.

 

The MT4 Terminal is a perfectly equipped with all the tools traders need. It provides advanced charting package, technical analysis indicators, back-testing capabilities, different order options, and the chance to create and use automated trading programs (Expert Advisors).

 

Promotion

At the time of writing this review, FxFinance offers $100 No Deposit Bonus. In order to get the bonus, a trader has to Join the official group VC FxFinance, repost the bonus announcement in the group’s wall, open an account with this broker and undergo verification.

 

Probably there are some requirements which have to be met in order traders to be able to withdraw the profits from this bonus, but we could not find more information on the broker’s website.

 

Methods of Payment

 

FxFinance offers its clients the following payment modes: credit/debit card (Visa, MasterCard), bank wire transfer, and e-wallets WebMoney, Yandex and PayPal, OKPAY, RBK Money, liqpayр Moneypolo, Wallet One, SorexPay.

 

Conclusion

 

It looks like FxFinance is a forex and CFD broker (and supposedly a market maker) that supports the MT4 platform. Its main disadvantages are the lack of regulation and the high spreads it offers. Here are, in a nutshell, the pros and cons of FxFinance:

 

Pros Cons
Commission-free trading Not regulated
MT4 available High spreads
Bonuses offered Market maker model
   

 

Latest news about FxFinance
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Traders` reviews for FxFinance

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

 

 

scam broker

https://fxfinance-pro.com/ scam brokers
withdrawal not processed for 3 weeks and finally make accused fraud account to client, stay away from this broker, not regulated broker, looking for reason to not pay withdrawal.

wandik 10/24/2017

SCAM

Profits are not withdrawn, all transactions are canceled. On the claim does not meet. I do not recommend! !!

alex 09/20/2017
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