Despite FxRevenues promise of providing customers with a world-class trading experience, we remain skeptical about the validity of such claims. Its shady nature and lack of credibility make it difficult to consider as a legitimate option, and we will delve into the specifics in this FxRevenues review. Certainly, FxRevenues is a company we have encountered before, and our previous experience was far from impressive.
FxRevenues is yet another unlicensed broker plagued by the common issues seen in such companies. Operating from a notorious offshore scam haven, this broker employs several dubious clauses that effectively prevent clients from withdrawing their profits. Moreover, the lack of competitive trading conditions further solidifies the reasons to steer clear of this company by all means necessary.
Website – https://www.fxrevenues.com/, https://www.fxrevenues.org/
Website Availability – Yes
Address – Stoney Ground Road, St. Vincent and the Grenadines
Warning – Ontario Securities Commission (Canada)
Regulated – Unregulated
Domain Age –
|Date Registered||April 05, 2022|
|Domain Age||1 year, 3 months, 16 days, 19 hours, 55 minutes, 3 seconds|
Is FxRevenues legit or a scam broker?
It is alleged that FxRevenues operates under the umbrella of VHNX Ltd, a company registered in St. Vincent and the Grenadines, which raises concerns. The brokerage lacks any other registrations or licenses, leading us to confirm that it remains unregulated and poses significant risks to all customers. Moreover, we have prior knowledge of this company operating under another brand, further highlighting its dubious nature.
FxRevenues Review: Trading Platform
FXrevenues purports to offer access to a web-based trading platform. However, the registration process demanded a code, which we lacked. Such codes are frequently used by unscrupulous brokers to create an artificial sense of exclusivity. This raises serious concerns about the company credibility. Moreover, we strongly question the efficacy and integrity of its dubious trading software when compared to a more reputable platform like Metatrader 5.
FxRevenues Review: Trading Conditions
As we were unable to access the trading platforms, we cannot provide information on real-time spreads and leverage. However, FxRevenues claims to offer razor-sharp spreads and a high leverage ratio of 1:200, which is excessively risky for most customers. It’s worth noting that the 1:200 leverage is prohibited in numerous jurisdictions, including the EU, UK, and Australia, due to the significant risk involved. These regions limit retail customers to a maximum of 1:30 leverage. Consequently, FxRevenues services appear to be riskier than necessary.
Regarding the available instruments for trading, they include Currencies, Stocks, Indices, Commodities, and other assets.
FxRevenues Review: Deposit and Withdrawal Methods
The minimum deposit at $250 is double the industry standard of $100, making it non-competitive. Numerous Forex brokers already accept clients with as little as $1, rendering the deposit requirement less appealing.
While the funding methods are not explicitly stated, the Terms and Conditions suggest that Credit/Debit cards, Wire Transfers, and Crypto deposits are possible.
Unfortunately, the withdrawal conditions are also lacking competitiveness, with a minimum withdrawal of $50. In contrast, regulated brokers typically impose minimal or no restrictions, allowing clients to withdraw any amount freely.
As for fees, specific details are not provided, but the brokerage retains the discretion to charge accounts on various occasions.
FxRevenues Review: Conclusion
If you suspect that you have been targeted by a FxRevenues scam or any other form of deception, such as a forex scam, cryptocurrency scam, romance scam, phishing scam, investment scam, and more, you have the means to take action. Our Scam Bitcoin website enables you to lodge a complaint against scam brokers. Just fill out the complaint form available, and our team of experts will provide you with a free consultation to assist you in the process of recovering your funds.
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