ADDEX Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
Business
License
FSPR Revoked 
Although I’ve got not much money in my account, I can’t log in after the New Year. The customer service is missing. I can’t trade now.
It’s been 3 months since I applied for a withdrawal. Their service told me it was because of third-party problems. They gave me no solution until now.
In this comprehensive review of Addex, we explore the many facets of this forex broker, including its user experience, regulatory status, and overall reliability. The findings indicate a predominance of negative feedback, with many users expressing concerns about the broker's legitimacy and customer service. Notably, Addex operates under a revoked license, which raises significant red flags for potential traders.
Note: It is essential to recognize that Addex may refer to different entities across various regions, leading to potential confusion. This review aims to provide a fair and accurate assessment based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 4 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 1 |
| User Experience | 2 |
How We Rated the Broker: The ratings are based on a synthesis of user feedback, expert opinions, and factual data from various sources.
Addex, established in 2017, is a forex broker based in New Zealand. It primarily operates using the MetaTrader 4 (MT4) trading platform, which is known for its extensive customization options and user-friendly interface. However, it lacks compatibility with mobile apps for iOS and Android, limiting accessibility for many traders. The broker claims to offer a range of trading assets, but its regulatory status and overall transparency have come under scrutiny.
Addex is registered under the Financial Service Providers Register (FSPR) in New Zealand, but the broker's license has been revoked, casting doubt on its legitimacy. According to multiple sources, including WikiFX, the lack of a valid regulatory framework poses significant risks for potential investors. The absence of oversight means that traders may not have legal recourse in case of disputes or issues with withdrawals.
The broker's website does not provide clear information regarding acceptable deposit and withdrawal currencies, which raises concerns about transparency. Many users have reported difficulties in withdrawing funds, with complaints indicating that customer service is unresponsive. This aligns with findings from various reviews, which suggest that traders may face significant hurdles when attempting to access their money.
While specific details on the minimum deposit required by Addex are scarce, the broker's overall reputation suggests that potential traders should approach any financial commitment with caution. The lack of clarity around this aspect further complicates the decision-making process for new investors.
There is little information available regarding bonuses or promotional offers from Addex. This lack of transparency may be indicative of a broader issue with the broker's business practices. Many reputable brokers provide clear information about bonuses and promotions, which is crucial for attracting and retaining clients.
Addex claims to offer a variety of trading assets, but the specifics are not well-documented. Users have expressed skepticism about the availability and variety of assets, with some reviews indicating that the broker may not deliver on its promises. This uncertainty can be a significant deterrent for traders looking for a diverse trading portfolio.
The reviews highlight that Addex's costs, including spreads and commissions, are not clearly defined. This ambiguity can lead to unexpected expenses for traders, further complicating their trading strategies. Given the broker's poor reputation, potential clients should be wary of hidden fees that could impact their overall profitability.
Information regarding leverage options offered by Addex is also lacking. Leverage can significantly affect a trader's risk exposure, making it essential for brokers to provide clear guidelines on this aspect. The absence of such information raises further questions about the broker's transparency and reliability.
Addex primarily utilizes the MT4 platform, which is widely regarded as a robust trading tool. However, the broker does not offer a proprietary platform, which may limit some traders' experiences. While MT4 is customizable and supports various languages, the lack of mobile compatibility is a notable drawback.
The broker's website does not specify any restricted regions, but given its regulatory status, it may not be advisable for traders in certain jurisdictions to engage with Addex. This uncertainty can lead to complications for traders who may unknowingly violate local regulations.
Addex's customer support appears to be limited, with many users reporting difficulties in obtaining assistance. The lack of responsiveness and transparency in communication can lead to a frustrating experience for traders. Multiple reviews indicate that once funds are deposited, customer service becomes increasingly elusive.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 4 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 1 |
| User Experience | 2 |
In conclusion, while Addex may present itself as a viable trading option, the overwhelming consensus from users and experts suggests otherwise. The lack of regulation, poor customer service, and transparency issues make it a risky choice for traders. Potential investors are strongly advised to conduct thorough research and consider more reputable alternatives before committing any funds.
