Abstract:suxxessfx, a Seychelles-based brokerage entity, grabbed massive ire from traders on broker review platforms such as WikiFX, a globally recognized forex broker regulation inquiry app. Exposure reports have revealed fund losses worth over $5K-$42K on the broker’s trading platform. This suxxessfx review examines serious user allegations and its regulatory status. Read on!

suxxessfx, a Seychelles-based brokerage entity, grabbed massive ire from traders on broker review platforms such as WikiFX, a globally recognized forex broker regulation inquiry app. Exposure reports have revealed fund losses worth over $5K-$42K on the brokers trading platform. This suxxessfx review examines serious user allegations and its regulatory status. Read on!
suxxessfx is a multi-asset brokerage entity offering users with access to over 320 CFD instruments such as forex, stocks, commodities and indices. The company claims a zero percent hidden fee, a robust trading platform, a multilingual support team, and leverage of up to 1:200. It offers three trading accounts - Silver, Gold and Platinum. The table below demonstrates the offerings for investors across these accounts.
| Account Type | Minimum Deal Size | Maximum Leverage | Swap Discount | Spread Discount |
| Silver | 0.01 | 1:200 | None | None |
| Gold | 0.01 | 1:200 | Up to 40% of Silver Account | Up to 50% of Silver Account |
| Platinum | 0.01 | 1:200 | Up to 40% of Silver Account | Up to 75% of Silver Account |
A user from Colombia reportedly invested USD 5,690 and admitted to having lost all of it. Explaining the journey, the trader was able to withdraw USD150 earlier. However, according to the user, it was allegedly a plan from the broker to make him feel confident about the platform and deposit more. However, the trader conceded that he did not make any investment after the initial one. suxxessfx thus decided to return the users investment along with profits, totalling $7,500. However, to receive this amount, the trader was reportedly told to pay certain amounts in the name of a financial processor and insurance charge worth USD 1,615 and USD 1,075, respectively. Even though the trader gave his consent to pay these, the broker allegedly failed to return the last two deposits. Aghast by this response, the trader shared a negative suxxessfx review online.

Another Colombian user hit out at suxxessfx, claiming that the broker uses advertising through newspapers or social media to drive users into its trading platform. According to the user, the broker promises good returns to encourage investments. Elaborating further, the trader revealed that the required investment amount would suddenly change from $100 to $200. A week later, the broker would prompt users to invest $1,000. Upon users agreement, the investment amount required would increase to $2,500, covering the purchase of at least one gram of gold. While a small withdrawal request goes through smoothly, a large withdrawal request reportedly goes slowly. For a large withdrawal, users are made to pay another $2,500. The trader made this unfortunate trading experience official with this suxxessfx review

This review has also come from a Colombian user, who accused suxxessfx of creating pressure on him to deposit more on the platform. Afterward, the platform allegedly makes it impossible to withdraw funds. According to the user, the platform informs users of the fund losses and requests them to make additional payments for a fund release. This complaint screenshot further reflects on the alleged contrasting stand by the broker on deposits and withdrawals.

A gold trader from Brazil allegedly lost investments worth $42,000 on the suxxessfx login dashboard. According to the users allegation, the broker repeatedly pressured the trader into depositing, under the pretext of preventing the gold investment from falling further. To recover the lost amount, the broker allegedly told the trader to pay USD 5,000 via PSE. The trader quickly realized that PSE never charges users and thus denied paying it. Adding on, the trader complained against the broker with competent authorities while sharing this suxxessfx review.

A user from Colombia reported a loss of funds worth USD 8,200, claiming technical manipulation and withdrawal blocks. As the user placed a withdrawal request, the broker allegedly demanded an illegitimate minimum trading volume. Whats more, the trader accused the broker of executing high-risk trades without a stop-loss, causing a wipeout of funds in minutes. The trader further noted that the fictitious negative balance worth USD 1200 on the suxxessfx login is allegedly a way to prevent withdrawals. Read this complaint below.

The nature of withdrawal denial complaints sound serious and demand a thorough probe into the suxxessfx regulation status. While investigating, the WikiFX team found a forex license for the broker. It comes from The Seychelles Financial Services Authority (FSA), bearing a license number SD204. However, this is an offshore regulation, reducing the safety net for traders drastically compared to those associated with brokers regulated by tier-1 financial authorities such as the Financial Conduct Authority (FCA), the Australian Securities & Investments Commission (ASIC), and the Cyprus Securities & Exchange Commission (CYSEC). Due to several user-reported fraud allegations and a not-so-sound regulatory framework, WikiFX gave suxxessfx a score of just 2,40 out of 10.


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