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I cannot find license used by FcxTrade on their official website. Could you please look it up and see if this broker is safe?
Wick
Nepal
2022-03-07
ANSWER FcxTrade is not legit and should be avoided at all events. FcxTrade claims to be an authorized company operating within the United Kingdom. However, we didn't find any regulatory information of this broker from the UK's Financial Conduct Authority (FCA). That means FcxTrade is providing its services in the UK illegally. Besides, FcxTrade states its regulation by the FSA of St.Vincent and the Grenadines (SVG FSA) and IFMRRC of Russia. Nevertheless, neither SVG FSA nor IFMRRC regulates, supervises or licenses international companies engaging in such activities. So FcxTrade is actually not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is thoroughly a scam. We would recommend you to stay away from FcxTrade and any other unregulated brokers, since they are not subject to necessary laws and principles of operation, resulting in a high risk to trade with them.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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