FX-EXCHANGE247 Spreads, leverage, minimum deposit Revealed

WikiFX | 2023-01-03 18:11

Abstract：FX-EXCHANGE247 is allegedly a forex broker registered in the United States via three different investment plans.

　　Risk Warning

　　Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

　　General Information & Regulation

Feature	Detail
Regulation	No regulation
Market Instrument	Forex, cryptocurrencies
Account Type	Silver, Gold and Premium
Demo Account	N/A
Maximum Leverage	N/A
Spread	N/A
Commission	N/A
Trading Platform	N/A
Minimum Deposit	$500
Deposit & Withdrawal Method	N/A

　　FX-EXCHANGE247 is allegedly a forex broker registered in the United States via three different investment plans. Here is the home page of this brokers official site:

　　As for regulation, it has been verified that FX-EXCHANGE247 currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.02/10. Please be aware of the risk.

　　Market Instruments

　　FX-EXCHANGE247 advertises that it is a forex broker that mainly offers forex and cryptocurrency trading.

　　Investment Plans

　　FX-EXCHANGE247 claims to offer three types of investment plans, namely Silver, Gold and Premium, with minimum initial deposit requirements of $500, $5,000 and $10,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

　　Deposit & Withdrawal

　　The minimum initial deposit requirement at FX-EXCHANGE247 is $500. However, the broker says nothing about the deposit and withdrawal methods.

　　Customer Support

　　FX-EXCHANGE247‘s customer support can be reached by email: support@fx-exchange247.com. Company address: 3238 Doctors Drive, Los Angeles, California, 90017 USA. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most transparent brokers offer.

　　Pros & Cons

Pros	Cons
N/A	• No regulation
	• Lack of transparency
	• High minimum deposit ($500)

　　Frequently Asked Questions (FAQs)

Q 1:	Is FX-EXCHANGE24 regulated？
A 1:	No. It has been verified that FX-EXCHANGE24 currently has no valid regulation.

Q 2:	What is the minimum deposit for FX-EXCHANGE24？
A 2:	The minimum initial deposit at FX-EXCHANGE24 to open the most basic account is $500.

Q 3:	Is FX-EXCHANGE24 a good broker for beginners？
A 3:	No. FX-EXCHANGE24 is not a good choice for beginners. Not only because of its unregulated condition, but also because of its lack of transparency and high initial deposit.