Tradefxm Forex Broker provides real users with 1 positive reviews, * neutral reviews and 1 exposure review!
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One of the worst company in my lifetime they scammed me around 16000 USD they should be punished i am filling complaint in all the organisation against them i have all the proofs about them TRADEFXM forexglobal should be answer for their worst behaviour
100% Trustable company for your invetsment
Summary: The overall evaluation of TradeFXM is overwhelmingly negative, with multiple sources labeling it as an unregulated and potentially fraudulent broker. Key findings include a lack of proper regulatory oversight and numerous user complaints regarding fund withdrawal issues.
Notice: It is crucial to note that TradeFXM operates under various regional entities, which can complicate regulatory oversight. This review synthesizes information from multiple reputable sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 1 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 1 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Additional Rating | 1 |
How We Rate Brokers: Our ratings are based on comprehensive analyses of user feedback, expert opinions, and factual data regarding broker operations.
Founded in 2023, TradeFXM presents itself as an online trading platform that claims to offer a variety of financial products including forex, commodities, and cryptocurrencies. However, it lacks the necessary regulatory licenses to operate legitimately in the UK or other major financial jurisdictions. Notably, the broker does not provide access to established trading platforms like MT4 or MT5, which are industry standards. Instead, users report an unreliable and poorly functioning web-based interface.
Regulatory Regions: TradeFXM claims to operate from the UK, but the Financial Conduct Authority (FCA) has issued warnings stating that it is unauthorized to provide financial services. Additionally, no valid licenses have been found in any regulatory databases, raising significant concerns about its legitimacy.
Deposit/Withdrawal Options: The broker allows deposits in fiat currencies and cryptocurrencies, with a minimum deposit requirement of $200. However, there are numerous reports of withdrawal difficulties, which is a common red flag for fraudulent brokers.
Bonuses/Promotions: There is no clear information regarding bonuses or promotions on the TradeFXM platform, which further adds to its dubious nature.
Asset Classes: TradeFXM claims to offer a range of trading instruments, including currencies, stocks, indices, and cryptocurrencies. However, many of these claims are unverified, and the absence of a robust trading platform makes it difficult for users to engage in trading effectively.
Cost Structure: The broker does not specify its spreads, fees, or commissions clearly, which raises concerns about transparency. Users have reported high commission structures that can significantly eat into potential profits.
Leverage: TradeFXM advertises leverage of up to 1:1500, which is excessively high and not compliant with regulations in most jurisdictions. Such high leverage levels can lead to significant financial losses for inexperienced traders.
Allowed Trading Platforms: The absence of established trading platforms like MT4 or MT5 is alarming. Users have reported that the only available platform is a rudimentary web interface that lacks essential trading tools.
Restricted Regions: There is no explicit information regarding restricted regions, but given its unregulated status, it is advisable that potential users from any jurisdiction exercise extreme caution.
Customer Service Languages: Customer support appears limited, with no clear channels of communication provided on the platform. Reports indicate that once users deposit funds, communication from customer service tends to diminish significantly.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 1 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 1 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Additional Rating | 1 |
Account Conditions: The minimum deposit of $200 is relatively high for an unregulated broker, especially when many legitimate brokers allow lower amounts. The lack of transparency regarding account types and conditions is concerning.
Tools and Resources: TradeFXM does not provide any advanced trading tools or resources, making it difficult for traders to make informed decisions. The absence of a demo account is also a significant drawback.
Customer Service and Support: Users have reported poor customer service experiences, particularly when attempting to withdraw funds. This lack of support is a common characteristic of fraudulent brokers.
Trading Setup: The trading experience on TradeFXM is reportedly unsatisfactory, with many users unable to access a functional trading platform. This raises serious doubts about the brokers legitimacy.
Trustworthiness: The lack of regulatory oversight and numerous user complaints about withdrawal issues severely impact TradeFXM's trustworthiness. It is widely regarded as a potential scam.
User Experience: Overall user experiences have been negative, with many individuals expressing frustration over unresponsive customer service and difficulties in accessing their funds.
In conclusion, the TradeFXM review indicates that potential investors should exercise extreme caution. The overwhelming consensus among experts and user reviews is to avoid engaging with this broker due to its unregulated status and numerous red flags. Always opt for brokers that are well-regulated and have a proven track record to ensure the safety of your investments.
