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TradeFXHub Review - is it scam or safe?

TradeFXHub Review - is tradefxhub.com scam or good forex broker?

RATING: 1 / 0 REVIEWS TradeFXHub
TradeFXHub is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account  Min. deposit  Max. leverage Spread
Mini  $500 1:200  from 1.8 pips
Standard  $5 000 1:300 from 0.8 pips
Silver  $20 000 1:400 from 0.3 pips
Gold  $50 000 1:500 0 pips
Platinum  $250 000 1:500 0 pips
VIP  $500 000 1:1000 0 pips

 

Forex and CFD broker TradeFXHub offers as many as six account types, but demo ones are not available. What is worse, the broker does not hold a legit license, and is actually anonymous.

 

Nonetheless, there are still a few supposed benefits of using TradeFXHub, and we will start off with them. So, if you are going to skim through this review, be sure to check out at least the first point of the negatives section below.

 

 

TradeFXHub Advantages

 

Generous leverage

TradeFXHub claims to offer solid leverage levels, ranging from 1:200 to 1:1000, depending on the account type. Such leverage ratios would be more than enough even for the most aggressive traders out there. That being said, we should warn those of you who are not well-acquainted with the principles of margin trading that using leverage ratios that high could quickly and easily result in a serious loss.

 

Wide range of assets

Another possible benefit of this broker is its rich product portfolio, covering forex and wide range of CFDs – on indices, commodities, stocks and wide range cryptocurrencies. Such broad range of tradeable assets allows for portfolio diversification which helps manage risk. Yet, considering that TradeFXHub is not a licensed and reliable broker, you may check out our list of licensed brokers offering good selection of CFDs, including on Bitcoin CFDs.

 

 

>> Regulated forex brokers offering Bitcoin <<

 

 

TradeFXHub Disadvantages

 

No company name, no license

TradeFXHub mentions nothing about license, nor financial regulation. This shouldn’t be a surprise, since the authorities in St. Vincent and the Grenadines do not regulate forex brokers.

 

 

What is worse, its website does not feature even the name of the company operating the brand. There is only a contact number in the UK and an address in St. Vincent and the Grenadines. This means that TradeFXHub’s services and website are basically anonymous, and whichever the company behind the brand, it is not regulated. Doing business with unregulated broker is risky, and investing with an anonymous one basically means throwing your money in the trash.

 

MetaTrader not supported, no demo accounts

Unfortunately, we were not offered a demo account, which is always a worrisome sign - it shows that the broker is not transparent about its services. So, we signed up with TradeFXHub (without depositing any money) in order to sneak peek into its platform and take a look at what it actually offers. As a result, we got access to some unproven web interface, which didn’t impress us. Here is a preview:

 

Clcick on the image to zoom in.

 

Most traders prefer trading on the good old MetaTrader4 (MT4), which has proved to be an intuitive and reliable platform. The MT4 is popular for its great charting, support for automated trading via Expert Advisors, the MQL marketplace, easy customization, and more.

 

 

>> Check out the best MetaTrader4 brokers <<

 

 

High initial deposit & spread on Mini accounts

Last but not least, the initial deposit required by TradeFXHub for its most basic account type – Mini – is twice higher than what most brokers ask for. Furthermore, Mini account holders don’t get good pricing – a spread starting from 1.8 pips on majors is not lucrative at all. Most brokers offer spreads within the range of 1.0 – 1.5 pips for this pair. For further information and comparison, check out the below link:

 

 

>> Compare the spreads of the top-tier forex brokers <<

 

 

Conclusion

 

Considering the lack of adequate company information and regulation, TradeFXHub is clearly not legitimate and not regulated broker. All in all, traders should direct themselves to better trading options to which we have linked throughout this review. Otherwise, they risk to fall victim to the numerous fraudsters operating on the forex market.

 

So, the only way to stay safe is to deal only with well-established and regulated brokers, such as the ones licensed by the UK’s FCA or Cyprus’ CySEC. These regulatory agencies require compliance with a number of strict rules that give significant assurance for the safety of clients’ funds.

 

 

>> Looking for a broker regulated in Cyprus? <<

 

 

And finally, here are the highlights of the present review of TradeFXHub :

 

Pros Cons
Generous leverage No company name, no license
Wide range of assets No demo accounts
  MetaTrader not supported
  High initial deposit & spread on Mini accounts

 

Latest news about TradeFXHub
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Traders` reviews for TradeFXHub

Spread

Pros

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Slippage

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Requotes

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Price feed

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Platform

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Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

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Summary

Pros

Cons

 

 

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