Fake FXCM-Some Important Details about This Broker

WikiFX | 2022-10-09 15:30

Abstract：This Fake FXCM was registered in the United Kingdome, and it was not established long, with an operating time of 2-5 years. This fake FXCM boasts that it provides four trading accounts to choose, its minimum deposit requirement, however, is as high as $2,000. Please note this fake FXCM is posing as a legit one try to defraud investors. It has been verified that this broker currently has no valid regulation. please be aware of the risk.

Risk Warning: This Fake FXCM is posing as a legit one by using the name of legit FXCM. It has been verified that this broker currently has no valid regulatory. Please be aware of the risk.

General Information

This Fake FXCM was registered in the United Kingdome, and it was not established long, with an operating time of 2-5 years. This fake FXCM boasts that it provides four trading accounts to choose, its minimum deposit requirement, however, is as high as $2,000.

Please note this fake FXCM is posing as a legit one try to defraud investors. It has been verified that this broker currently has no valid regulation. please be aware of the risk.

Account Types

This Fake FXCM provides four trading accounts, namely Standard, Plus, Pro and ECN accounts. The minimum deposit for each account is quite high, with the Standard account from $2,000, the Plus account from $5,000, the Pro account from $30,000, the ECN account from $100,000.

Obviously, as un illegal forex broker, what Fake FXCM wants to do is extracting all available money from investors pockets.

Leverage

Fake FXCM allows its clients to use leverage of up to 1:1000, higher than the levels regarded appropriate by many regulators. This is a typical tactic employed by scammers trying to attract more investors.

Leverage can magnify gains, it can also cause serious fund losses, especially to inexperienced traders. Therefore, it is wise for beginners to choose the smaller size no more than 1:10 until they gain more trading experience.

Trading Platform

What this fake FXCM provides is not the industry-leading MT4 or MT5 trading platform.

Customer Support

Fake FXCM offers extremely poor customer support, as there is no contact information left for clients with trading-related problems to get in touch with them.

Negative Reviews

The number of the complaints received by WikiFX have reached 15 for this broker in the past 3 months. Please be aware of the risk and the potential scam.

Risk Warning

Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.

The information presented in this article is intended solely for reference purposes.

Forex trading Forex Broker

Related broker

Website：http://www.fuhuiyazhou-fx.com/en/

5-10 years | Suspicious Regulatory License | Suspicious biz area | High potential risk

Score

1.52

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