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EnzoFX Forex Broker provides real users with 3 positive reviews, 1 neutral reviews and 6 exposure review!

EnzoFX Broker Review

1.26

WikiFX monitor

Business

Influence E

License

No license

EnzoFX Review 10

Latest All(10) Positive(3) Neutral(1) Exposure(6)
Exposure

My friend deposited money into the Enzo account, but now they cannot withdraw money. They have locked the account and do not allow my friend to withdraw money.

FX3620874144
2024-12-10
Exposure

I have account 851254 and I have placed multiple withdrawal orders, but still unable to withdraw. On 7/11, I cancelled the old orders and placed another withdrawal order. However, I still haven't received the money in my bank account. And I am also unable to contact my support person.

FX3753229546
2024-11-10
Exposure
Automatic execution of transactions leading to negative account balance

I have trading account number 850869. Yesterday (November 8, 2024), I deposited $7,000 into my trading account and received a bonus of $2,450 (35%). However, only about 30 minutes later, I could no longer log in to my MT5 account. I thought there was a software error, so I didn't check. Until the next day (November 9, 2024), I still couldn't log in to my MT5 account. When I checked my trading account, I found that the deposited amount was negative. When I checked the transaction history, I discovered that someone had placed a lot of automatic and continuous buy/sell orders in a short period of time with a large trading volume, causing the account to have a heavy negative balance. I contacted the support department of Enzo FX Global for assistance, but I have not received a response yet.

Cuong Pham
2024-11-09
Exposure
User information leakage

I have a trading account number: 851238 Recently, I invested 800 USD in the exchange and made a profit of 1600 USD. I have been trading for almost a week, and when I requested a withdrawal, the support person agreed (Mr. Long, Mr. Duy). I placed a withdrawal order.. But in less than 5 minutes, a person named Huy called me and said that he had talked to the support person and I had to place additional orders for 10 lots before I could withdraw and he sent me 5 codes, requesting to place orders of 0.1 [GBPUSD, XAU, EURUSD, WHEAT..] + And among them, the code WHEAT is a unique code of the exchange. After I placed the orders, my account got burned. The questions are: + Why does someone have my account information, while the account should be kept confidential? + They know the whole process of mine, from A to Z, including the previous time when I withdrew 200 USD. + The person who forced me to place the orders is familiar with the two support persons [I contacted the support persons but they said they didn't know].

TIEN749
2024-10-29
Exposure
Unable to withdraw money

I withdrew money from October 23, 2024 until now, I still haven't received it.

Teresa Roberts
2024-10-28
Exposure
Possible scammer?

I opened an account with enzofx on 2st October 2024 and funded USD500. I have submitted my KYC documents such as passport, national ID, billing statement etc, however it has been 2 days and it has not been approved.They don't have live chat unfortunately, so i emailed them and also fill out the contact us form on their website, and it has been 2 days and still no reply.I have made small profit this past 2 days, and try to make withdrawal with no avail, as to be able to make withdrawal, the KYC need to be approved, and it has not been approved, and they ignore my messages. Is this some signs that the broker is another scammer?

jeremiahkn
2024-10-23
Positive

Withdrawals are quite fast, and the support team is good.

Linh nhung
2024-08-01
Positive
EnzoFX Review: Seamless Trading Experience, Instant Deposits, Swift Withdrawals

So far I'm very happy trading on EnzoFX. I have had no reason to contact customer service so I can not give any review on them and that by it self is worth 5 stars. Deposit 5 stars using credit card, worked instant. Withdraw 5 stars using credit card **** about 2 days. Withdraw by bank wire **** once bank account was cleared 2 days and cost in interbank charge 10 euro. Lets try PayPal.

Cilyder
2024-07-09

  

EnzoFX 2025 Review: Everything You Need to Know

  EnzoFX has emerged as a controversial player in the forex brokerage market since its inception in July 2023. The reviews available online paint a predominantly negative picture, highlighting significant concerns regarding its legitimacy, regulatory status, and user experiences. This review synthesizes key findings from various sources to provide a comprehensive overview of EnzoFX, focusing on user experiences, strengths, weaknesses, and expert opinions.

  Note: It is crucial to recognize that EnzoFX operates under different entities across various regions, which may affect its regulatory status and operational practices. This review aims to present a fair and accurate assessment based on the available information.

  

Ratings Overview

Category Rating (out of 10)
Account Conditions 3
Tools and Resources 2
Customer Service and Support 2
Trading Experience 3
Trustworthiness 1
User Experience 2

  How We Score Brokers: Our scoring is based on a comprehensive analysis of user reviews, expert opinions, and factual data regarding the broker's services.

  

Broker Overview

  EnzoFX, operating under the domain enzo fx.com, is an unregulated forex broker based in Costa Rica. The company claims to provide access to a wide range of financial markets, including forex, commodities, and cryptocurrencies. However, it lacks regulatory oversight from recognized authorities, which raises significant concerns about the safety of user funds. The platform purportedly supports trading through popular software like MT4 and MT5, but the overall user experience and functionality have been criticized as subpar.

  

Detailed Analysis

  

Regulatory Status

  EnzoFX is unregulated, which is a major red flag for potential investors. According to various sources, including Scamadviser, the absence of regulatory oversight means that the broker is not held accountable to any financial authority, increasing the risk of fraud. Users are advised to be extremely cautious when dealing with unregulated entities, as they can operate without any legal repercussions.

  

Deposit and Withdrawal Options

  The broker does not provide clear information regarding the supported currencies for deposits and withdrawals, which can be a significant inconvenience for users. The minimum deposit requirement is often cited as $100 for standard accounts, but many reviews suggest that users have faced difficulties when attempting to withdraw their funds, leading to frustration and financial losses.

  

Available Assets

  EnzoFX claims to offer a variety of trading instruments, including over 40 currency pairs, commodities like gold and silver, and cryptocurrency CFDs. However, the lack of transparency regarding the actual availability of these assets has led to skepticism among users. Many reviews highlight that the promised variety is often not reflected in the trading experience.

  

Costs (Spreads, Fees, and Commissions)

  The cost structure at EnzoFX appears to vary significantly, with spreads starting from 0.1 pips for professional accounts but often accompanied by high commissions, especially for ECN accounts. According to WikiFX, the commission can reach $10 per lot, which may not be competitive compared to other established brokers in the market.

  

Leverage

  EnzoFX offers high leverage options, reportedly up to 1:1000. While high leverage can be attractive for experienced traders looking to maximize their potential returns, it also increases the risk of significant losses, particularly for novice traders who may not fully understand the implications of trading with such high leverage.

  

Trading Platforms

  The broker claims to support both MT4 and MT5 platforms, which are popular among traders for their advanced charting and analytical tools. However, the actual user experience reported by clients has been largely negative, with many citing issues with platform reliability and performance.

  

Restricted Regions

  EnzoFX does not clearly state which regions it restricts, but the lack of regulation suggests that it may not be compliant with the regulatory requirements of various countries. This could lead to legal issues for users based in regions with strict trading regulations.

  

Customer Support Languages

  Customer support is another area where EnzoFX has received criticism. The available support channels are limited, with no live chat option and only email support, leading to delays in response times. Many users have reported poor communication and unresponsiveness, particularly when they encounter issues with their accounts or withdrawals.

  

Repeated Ratings Overview

Category Rating (out of 10)
Account Conditions 3
Tools and Resources 2
Customer Service and Support 2
Trading Experience 3
Trustworthiness 1
User Experience 2

  

Detailed Breakdown

  

Account Conditions

  EnzoFX offers a low minimum deposit of $100, which may seem appealing to new traders. However, the lack of regulatory oversight and poor user experiences suggest that these conditions come with significant risks.

  

Tools and Resources

  The tools available on the EnzoFX platform are limited, with many users expressing dissatisfaction with the trading experience. The platform's performance, including speed and reliability, has been criticized, indicating that it may not meet the needs of serious traders.

  

Customer Service and Support

  Customer support is a significant issue for EnzoFX. Users have reported long response times and inadequate support when trying to resolve issues, which severely impacts the overall trading experience.

  

Trading Experience

  The trading experience on EnzoFX is marred by reports of platform instability and difficulties in executing trades, which can be detrimental to traders looking to capitalize on market opportunities.

  

Trustworthiness

  With a trust rating of 1 out of 10, EnzoFX is viewed as a high-risk broker. The absence of regulation, combined with numerous negative reviews, leads to serious concerns about the safety of client funds.

  

User Experience

  Overall user experiences are largely negative, with many clients reporting issues with withdrawals, poor customer service, and a lack of transparency regarding fees and trading conditions.

  In conclusion, potential investors should approach EnzoFX with extreme caution, given the numerous red flags highlighted in this review. The combination of unregulated status, poor user feedback, and lack of transparency makes it a broker that many experts and users recommend avoiding.