de | cn | ru

FXlift Review - Is it scam or safe?

FXlift Review - is fxlift.com/vi scam or good forex broker?

RATING: 1.9 / 3 REVIEWS ForexBrokerz FXlift
FXlift is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

 

Account type Minimum deposit  Minimum trade size Maximum leverage Spreads and Commission 
Micro $500 0.01 1:1000 Fixed 2.2 pips / Floating from 1.1
O Fixed spread $500 0.01 1:500 0 pips + commission
STP/ECN $500 0.01 1:500 From 1.7 pips / 0 pips + commission
Premium $2 500 0.1 1:500 Fixed 1.8 pips / Floating from 0.7 pips

 

FXlift offers a number of account types, and most of them provide different options. For example, you can choose between fixed or variable spreads on Micro and Premium accounts. STP/ECN accounts on the other hand offer option for zero spread with commission or higher spread and commission-free trading.

 

Micro tradable lots are available on all accounts, except Premium ones. in addition, there are also PMAM accounts for investors and money managers.

 

In our opinion, a minimum deposit of $500 is too high, especially for an offshore broker. Also, leverage levels as high as 1:1000 involve too much risk. On top of that, the spreads offered on non-Premium accounts are above the average range of 1.0 – 1.5 pips for the EUR/USD pair. Even if clients of FXlift use zero spread, trading costs are above this average range because of the commission applicable.

 

For further information, you may look up and compare real-time spreads of 15 leading brokers here.

 

The Company. Security of Funds

 

Company

Country

Regulation

 8Safe Limited

Bermuda

N/A

 

FXlift is a forex broker that targets Vietnamese traders, as its website is only in Vietnamese. In fact, it is a part of the IronFX family, which also includes FXGIANTS.

 

While the rest of the group members are licensed by reputable regulators (IronFX is licensed in Cyprus, and FXGiants in UK and Australia), the company behind the FXlift brand is registered offshore, in Bermuda. And we keep reiterating that doing business with such a company is risky, as clients have no protection if something goes wrong.

 

Besides, IronFX has ruined its reputation by denying withdrawal of their clients’ funds in 2015 and as a result paying €335,000 in settlement to CySEC. Yet, its license has not been withdrawn. Many raised voices back then that this amount was insufficient and there were allegations of IronFX’s ties with the President of Cyprus. The scandal even got to the European Parliament.

 

Trading Platform

 

FXlift supports the widely used MetaTrader 4 (MT4), available as a desktop download and mobile trading apps.

 

The MT4 provides all the necessary tools and features for traders to analyze price dynamics of financial instruments (advance charting tools, built-in indicators, back-testing options), place various orders transactions and create & use automated strategies (Expert Advisors).

 

FXlift’s desktop MT4. Click to enlarge.

 

Methods of Payment

 

FXlift offers its clients numerous payment options: via credit/debit card, wire transfer, and various e-wallets Neteller, Skrill, and dotpay and China UnionPay.

 

Accepted currencies: USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB and HUF.

 

Conclusion

 

FXlift is an offshore forex and CFD broker that is part of the IronFX group. Its trading conditions are not very good, however, our main concern with it is that it is registered offshore.  To sum things up, here are the advantages and drawbacks with regards to FXlift:

 

Pros Cons
MT4 available  Not regulated
Part of a global brokerage group         High initial deposit required
  High spreads or trading costs
  Dangerously high leverage levels

 

Latest news about FXlift
No news about FXlift . Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for FXlift

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

 

 

They don't answer their phones

As explained, my grandmother past away on the 1/12/2018 and I do not have the money to bury her. The funeral will cost up to R13,000 and as the only breadwinner in the family, I do not have that kind of money and cannot fund the funeral expenses as such.

Therefore, I humbly request you to have mercy to me w.r.t. the my investment of R3500 so that I can solve this problem.

Please be so kind as to assist me with my predicaments. The consultants that kept on calling have all disappeared and don't answer their phones. Please be Godly. Joe Mahlangu 0726833484

Johannes 12/03/2018

Not a good company

FXlift is not a ggod Company for trading and require a large initial deposit around 1000 dollars even though you are told that you can start with less (you will be advised that the is very little to trade on with smaller initial amounts and you will always be asked to increase your funds in the trading account.

I deposited 1000 and within a month all my money was wiped out after poor advise on CFDs and Forex (Especially on the Rand vs Dollar and Pound lately after the rand performed bad and then retained/ improved againsT Dollar an Pound.

I found them to be unproffessional and was suprised tthat they did not believe in a Stop- Loss function, but believe you will keep your eyes on the trading platform.

They hardly offer training except for instructions on trade and also do no train on the risk calculator.

I found them to be taking chances and was surprised that once I was going down and seeked advise, they chose to ignore me and run away from my calls.

Motshwane Motau 10/03/2018

Don't waste your money with Fxlift

Please don't waste your time and money with them. I've paid a 1000 dollars into their account and then they started phoning asking for more money. After this I requested my money back and nothing. I've emailed them with no response. Seems to me like a big scam.

Renier 09/07/2018
de | cn | ru