Action Fx Trade foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.actionfxtrade.com/register.html, about the company's legal and temporary regulatory information, the company's address 6595 Boles Road Johns Creek, GA 3009.
Action Fx Trade Ltd, founded in 2016, is a financial services company primarily focused on cryptocurrency trading. The company is headquartered at 6595 Boles Road, Johns Creek, GA 3009, United States, and operates as a private entity. The broker caters to a wide range of clients, including individual retail traders interested in cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and XRP.
Despite being relatively new in the market, Action Fx Trade has made strides in providing its clients with trading, investment, exchange, and loan services in the cryptocurrency domain. However, the absence of regulatory oversight raises concerns about its legitimacy and reliability. The company operates under a business model that focuses on retail forex trading, specifically in the cryptocurrency market, and aims to aggregate liquidity from various connected venues.
Action Fx Trade has not established any significant milestones in its short operational history, and its lack of a regulatory framework continues to pose risks to potential investors. As a result, it is crucial for clients to conduct thorough research before engaging with the broker.
Currently, Action Fx Trade operates without any valid regulatory oversight. The broker has not been registered with any recognized financial authority, which raises significant concerns regarding its legitimacy. Notably, the Financial Conduct Authority (FCA) of the United Kingdom has issued warnings against Action Fx Trade, marking it as an unauthorized entity that may engage in deceptive practices.
The absence of regulatory oversight means that clients may not have access to legal protections typically afforded by regulated brokers, including compensation schemes and client fund segregation. This lack of regulation amplifies the risks associated with trading through Action Fx Trade.
Action Fx Trade offers a limited range of trading products primarily focused on cryptocurrencies. The broker provides access to several cryptocurrency pairs, including:
Additionally, Action Fx Trade does not seem to offer a diverse range of financial instruments such as CFDs on indices, commodities, or stocks. The broker's focus appears to be solely on cryptocurrencies, limiting the trading options available to clients.
The frequency of product updates and the introduction of new trading instruments are not specified in the available information. Furthermore, the absence of retail trading services tailored for institutional clients and the lack of white-label solutions further restricts the broker's service offerings.
Action Fx Trade utilizes a proprietary trading platform, which claims to provide a range of tools accessible across desktop, web, and mobile devices. However, it is important to note that the broker does not support popular trading platforms such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5), which are commonly used in the forex trading industry.
Overall, the lack of established trading platforms and technology raises questions about the broker's capability to provide a competitive trading environment.
Action Fx Trade does not offer a variety of account types, which limits the options available for traders. The available account conditions are as follows:
The lack of transparency regarding account types and trading conditions further complicates the decision-making process for potential clients.
Action Fx Trade supports only cryptocurrency transactions for deposits and withdrawals. The details regarding fund management are as follows:
The exclusive reliance on cryptocurrency transactions for fund management may pose challenges for clients preferring traditional payment methods.
Action Fx Trade offers various channels for customer support, though specific details about their availability and responsiveness are not disclosed. The support channels include:
The lack of comprehensive customer support and educational resources may hinder the trading experience for both new and experienced traders.
Action Fx Trade primarily targets clients in the United States, but there are no clear indications of its operational reach beyond this region. The following details are noted:
In conclusion, the Action Fx Trade broker presents significant risks due to its unregulated status and limited service offerings. Potential clients should exercise caution and conduct thorough research before engaging with this broker.
FX1318953409
Colombia
Responsive and highly reliable, I absolutely love this platform. I fully trust them. A great place for trading, it is quick in more ways than one, with fast operations and transactions!
Positive
2023-03-01