FXFinance Pro Review (2020): Scam Broker Alert!!!
At first glance, fxfinance pro looks like your everyday broker website with probably a little less quality. However, after taking a look around, we realised it was anything but that. If you had any intentions of throwing in with this broker, for your own sake, we advise you read this review first.
One key element required to enjoy a great forex trading experience is to trade with the right broker. These days, it becomes increasingly difficult considering all the scam websites popping up. Our job here is to review these websites and help you tell legit from deceit. The following review will tell you all you need to know about fxfinance pro broker.
About FXFinance Pro Broker
FXFinance pro is a brokerge company whose parent company is still not revealed. Judging by a line or two in their Terms and Conditions, we were able to point them to the Marshall Islands. Nowhere else on fxfinancepro.com does it make mention of an address. Fxfinance pro does not bring up any claims of being registered or regulated so that saves us the stress.
We have very little information for you concerning FxFinance Pro as presented on the website. The rest of what you’re about to read came from either that limited supply or the user terms and conditions.
Why You Should Probably Avoid Fxfinancepro.com
While fxfinance pro brokers might look as harmless as the next broker, consider these our findings before throwing in with them.
Deposits and Withdrawals
FxFinance Pro has some of the most absurd deposit and withdrawal terms and conditions we’ve seen, maybe even platform as well. Here are some of these terms we find disturbing;
- Withdrawal processing takes about 5 business days instead of a day as it is with legit brokers.
- It is stated that there will be withdrawal fees for every withdrawal, but neither the amount nor the percentage is stated.
- A user is liable to $15 tax after every deposit. Seriously?!
- If an account is dormant (has not made any trade) for 30 days, $36 will be charged from their account. If the amount in the account is less than $36, the account will be closed entirely. All this is unnecessary pressure on the investor.
- Minimum deposit is $500, 5 times the usual $100 or less used by legit brokekrs
Some of the terms stated are what we see with everyday scammers. Others are just plain unacceptable. We can’t help but pull out our red flag at this point.
Trading Platform
FXFinance Pro brokers offers 3 account types. These account types are the Mini, Classic and Premium accounts. They go for minimum $500, $5,000 and $20,000 respectively. The trading platform made available by the brokers is not made known at all. All we’re told is that it is some web trader.
We did notice something wrong with the platform though. The trading charts are false and not provided by Finance pro. The platform ranks poorly overall and has little or no promise. False promises also count as red flags.
Licensing and Regulation
FXFinance Pro states in it’s terms and conditions tat it is subject to laws of Marshall Islands. This country has no financial service authority, and hence, cannot license any company as a forex broker. Due to this fact, the area has become a breeding ground for scam brokers.
What we’re saying in essence is, Fxfinance pro is an unlicensed, illegal broker. They have no regulatory body to answer to, and you will trade with them at your own risk.
FxFinance Pro Review Conclusion: Is fxfinancepro.com Legit?
No. Fxfinancepro.com does not have ties to any regulatory body, meaning you trade with them to your own disadvantage. We cannot recommend an unlicensed broker to our readers. We urge you, however, to find and trade with licensed brokers, regulated by a reputable agency, who have proven results.
Our Recommendation For You
You can make money online by trading with reputable, reliable and trustworthy brokers. We’ve been trading with the Fortrade broker below for sometime now and we have no regrets!
FORTRADE- One of the Top rated brokers and a good choice for new traders. This broker is Licensed in UK(FCA), Australia(ASIC) and Belarus(NBRB). Guess what? you can trade from any part of the world as it accepts Traders Worldwide. Interested in trading with one of the best Forex brokers? Head Over to Fortrade and start trading!
