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FXMILLS Forex Broker provides real users with 2 positive reviews, * neutral reviews and 3 exposure review!

FXMILLS Broker Review

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FXMILLS Review 5

Latest All(5) Positive(2) Exposure(3)
Positive
Trustworthy Broker: Seamless Withdrawals & Top Support; Security Upgrade Needed

Professional and honest broker! never have a problem with withdraw funds, support team is excellent as well!, the only concern ther spreads could little bit lower,and ofcourse should be always upgreat the security level against DDoS Attacks! it should always priority! overall you can trust this broker!!

HJBNM
2024-07-04
Positive

Started trading with FXMills not too long ago and honestly, it's been pretty solid. The MT5 platform is slick and easy to get the hang of. Spreads could be better

hdafdv
2024-06-21
Exposure
FXMILLS makes it difficult for customers to withdraw money

ID: 23596, FXmills floor, I was solicited by this group to join the exchange from January 8, 2024, with a capital of 2040$, to receive dividends from the stock code DEQ, but when dividends were distributed, the floor counted them. The closing price and the order entry price were wrong, so my dividends were deducted. Luckily I closed quickly or my account would go negative. Then I called the support staff, Lam Nhat, and it couldn't be resolved. I had to regret losing money because the floor was dirty. From then on until January 30, 2024, I made a profit and principal transaction of $3621.19. I placed a withdrawal order of $3620.65 from 10:00 pm on January 30, 2024, until February 2, 2024 I still have not received the money back to my account. After talking with support person Lam Nhat, he told me to call the floor to ask. Then someone called me at 0598400723 and said that the withdrawal transaction was slow due to going through some withdrawal gate and the fee was very high, up to 40%, so they told me to follow their method to withdraw without any fees. This person told me to buy and sell 0.3 lots of COTTON code. After 15 minutes, these 2 orders will be cleared. I still didn't trust it so I didn't follow through and called the support hotline number: 1900252238 to verify if the floor staff was correct. The floor agent told me to check, then the next day they still didn't call back to confirm whether it was someone from the floor or not. I called back the switchboard but couldn't get through. At that moment, the deposit and withdrawal support staff called me and urged me to enter 2 buy and sell orders of 0.3 lot code COTTON so they could help withdraw the money. Because I couldn't contact the operator to verify this employee, I had to accept the order as they said. After I entered the order, the status was negative $4,500, but now it's still hanging and I don't dare to cut it. After that, my support person told me that if I wanted to withdraw money, you have to deposit another $4,500 to balance the negative balance, and then withdraw the money. I found it very unreasonable and did not follow it. So I hope ADDMIN WiKIFX can help me get back the $3620 that FXMILLS deliberately did not let me withdraw. Thank you very much. Through this, I also hope that everyone will boycott these Scam floors and Scam teams, and then they will also receive retribution for stealing customers' dirty money.

FX2783203464
2024-02-05
Exposure
The exchange staff deliberately did not allow money to be withdrawn and caused difficulties.

I was solicited by this group to join the exchange from January 8, 2024 with a capital of $2,040, with the intention of receiving dividends from the stock code DEQ, but when the dividend was distributed, the exchange incorrectly calculated the closing price and the order entry price. so my dividends were deducted. Luckily I closed quickly or my account would go negative. Then I called the support staff, Lam Nhat, and it couldn't be resolved. I had to regret losing money because the floor was dirty. From then on until January 30, 2024, I made a profit and principal transaction of $3621.19. I placed a withdrawal order of $3620.65 from 10:00 pm on January 30, 2024, until February 2, 2024 I still have not received the money back to my account. After talking with support person Lam Nhat, he told me to call the floor to ask. Then someone called me at: 0598400723 and said that the withdrawal transaction was slow due to going through some withdrawal gate and the fee was very high, up to 40%, so they told me to follow their method to withdraw without any fees. This person told me to buy and sell 0.3 lots of COTTON code. After 15 minutes, these 2 orders will be cleared. I still didn't trust it so I didn't follow through and called the support hotline number: 1900252238 to verify if the floor staff was correct. The floor agent told me to check, then the next day they still didn't call back to confirm whether it was really someone from the floor or not. I called back the switchboard but couldn't get through. At that moment, the deposit and withdrawal support staff called me and urged me to enter 2 buy and sell orders of 0.3 lot code COTTON so they could help withdraw the money. Because I couldn't contact the operator to verify this employee, I had to accept the order as they said. After I entered the order, the status was negative $4,500, but now it's still hanging and I don't dare to cut it. After that, my support person told me that if you want to withdraw money, you have to deposit another $4,500 to balance the negative balance, then withdraw money. I found it very unreasonable and did not follow it.

FX2783203464
2024-02-05
Exposure
Cannot withdraw money

I am Nguyen Van Linh. I started participating in FXMILL on January 6, 2024, through my friend MAI TRANG -Andy. I deposited 3 times for a total of 9.6k USD. After a period of trading. Maybe I'm not lucky. Now I still have 3.4k. I want to withdraw 3k, but it is not approved. January 26, 2024. January 30, 2024. Now when I call, no one answers or supports me. Only when people refer to complain, someone will listen. Now I don't know to find whom to ask. LOOKING FOR SUPPORT. MY ID. 24003

linh nguyen5337
2024-01-30

  

fxmills 2025 Review: Everything You Need to Know

  Summary: The reviews for fxmills paint a concerning picture of the broker, with multiple sources highlighting significant risks associated with trading through this platform. Key issues include a lack of regulation and numerous complaints regarding withdrawal difficulties.

  Note: It's essential to recognize that fxmills operates under different entities across regions, which may affect user experiences and regulatory oversight. Therefore, thorough research and caution are advised before engaging with this broker.

  

Ratings Overview

Category Rating (out of 10)
Account Conditions 3
Tools and Resources 4
Customer Service and Support 2
Trading Setup (Experience) 3
Trustworthiness 1
User Experience 2

  We evaluate brokers based on user feedback, expert analysis, and available data to provide an unbiased assessment.

  

Broker Overview

  Founded in 2023, fxmills is a relatively new entrant in the forex trading market, operating primarily from Saint Lucia. The broker claims to offer access to over 2000 trading instruments, including forex, commodities, indices, stocks, and cryptocurrencies. It provides trading through the MT5 platform, known for its advanced trading functionalities. However, a significant concern is the absence of regulation, which raises red flags about the broker's legitimacy and the safety of client funds.

  

Detailed Breakdown

  

Regulatory Regions

  fxmills is not regulated by any major financial authority, which is a critical factor that potential traders should consider. The lack of oversight means that traders have limited recourse in case of disputes or issues with fund withdrawals. According to various sources, this absence of regulation significantly increases the risk of encountering fraudulent practices.

  

Deposit/Withdrawal Currencies and Cryptocurrencies

  The broker accepts multiple currencies for deposits, including USD, but specific details about supported cryptocurrencies are vague. Users have reported difficulties in withdrawing funds, which is a common complaint associated with unregulated brokers.

  

Minimum Deposit

  The minimum deposit requirements vary significantly based on account types. For the elite account, the minimum deposit is set at $100, while the elite plus account requires a $500 deposit, and the VIP account demands a hefty $10,000. Such high thresholds for the VIP account may deter many potential traders.

  

Bonuses/Promotions

  While fxmills promotes various account types, there is little information about bonuses or promotional offers. Transparency regarding bonus structures is essential, as many brokers use bonuses to entice traders but impose strict conditions that complicate withdrawals.

  

Tradable Asset Classes

  The broker offers a diverse range of trading instruments, including forex pairs, commodities, indices, stocks, and cryptocurrencies. However, the lack of regulation raises concerns about the execution quality and pricing transparency for these instruments.

  

Costs (Spreads, Fees, Commissions)

  fxmills advertises spreads starting from 0.5 pips for VIP accounts and up to 1.8 pips for standard accounts. However, the absence of comprehensive information about additional fees or commissions is concerning. Traders should be cautious about hidden costs that could impact profitability.

  

Leverage

  The broker offers a maximum leverage of 1:500, which is attractive for experienced traders looking to maximize their positions. However, such high leverage also increases the potential for significant losses, especially for inexperienced traders.

  

Allowed Trading Platforms

  fxmills supports the MT5 trading platform, which is equipped with various trading tools and functionalities. However, the lack of clear information on platform reliability and execution speed is a potential drawback.

  

Restricted Regions

  fxmills does not provide services to residents of several countries, including the United States, which is a common practice among unregulated brokers. This limitation may affect the broker's overall accessibility to a broader trading audience.

  

Available Customer Service Languages

  Customer service appears to be a significant issue, with reports of unresponsive support. The primary language for customer support is not clearly stated, but the lack of reliable communication channels is a major concern for potential clients.

  

Repeated Ratings Overview

Category Rating (out of 10)
Account Conditions 3
Tools and Resources 4
Customer Service and Support 2
Trading Setup (Experience) 3
Trustworthiness 1
User Experience 2

  

Detailed Evaluation of Ratings

  •   Account Conditions (3/10): The tiered minimum deposit structure may cater to different trader levels, but the high minimum for VIP accounts could alienate many potential clients. The lack of regulation further diminishes the appeal of these accounts.

  •   Tools and Resources (4/10): The availability of the MT5 platform is a positive aspect, yet the broker lacks additional educational resources or tools that could enhance the trading experience.

  •   Customer Service and Support (2/10): Numerous reports indicate that customer service is lacking, with traders facing difficulties in reaching support when issues arise, particularly regarding withdrawals.

  •   Trading Setup (Experience) (3/10): The overall trading experience is marred by concerns regarding execution quality and withdrawal issues. The absence of regulatory oversight compounds these concerns.

  •   Trustworthiness (1/10): The lack of regulation and multiple complaints regarding withdrawal issues lead to a very low trust score for fxmills. Potential traders should exercise extreme caution.

  •   User Experience (2/10): User feedback highlights significant challenges in the trading experience, particularly in terms of customer support and withdrawal processes, leading to a negative overall sentiment.

  In conclusion, while fxmills presents a range of trading options and competitive leverage, the significant concerns regarding regulation, customer support, and withdrawal issues suggest that potential traders should approach this broker with caution. It is advisable to conduct thorough research and consider more established and regulated alternatives in the forex market.