Fxtradelive Review – Is It A Trustworthy Company?
Forex trading is becoming popular but unfortunately, the high demand also increases the number of scam companies and victim investors. The scheme works like this – after customers create the account and place the first deposit with the hope to earn increasing bonuses and profits the withdrawal request is delayed or declined. Suck kind of companies is not very difficult to identify. That’s why it is always a good idea to check some reviews and feedback from other customers before you decide to invest in any brokerage company.
The majority of scam brokers have an impressive website where the main focus is on the offers, services, and advantages of the company. They are not providing you with detailed information about their regulations, operating history, reviews, and others. All you will see are impressive high-quality promotions and marketing tricks. Also, you will not be able to see any information about the licenses.
Despite such kinds of visible facts that create a suspicious attitude if you are detail-oriented enough, many people are becoming victims of these over-promising offers. During this Fxtradelive review, we will discuss the broker’s features in order to show you if it is a trustworthy firm or just another scam broker on the Forex trading market. The aim of this is not to show the only negative side of this company but to recommend you the advice to avoid future financial losses and another kind of risks.
Fxtradelive is a Forex broker that was founded in September 2020. They are operating remotely and for the address, they claim the registration is in the United Kingdom but the information about the real address and the owner is not known. It is also unknown under what regulatory authority the company operates.
The main operating market is Forex, but with that, Fxtradelive also offers trading with cryptocurrencies, stocks, and commodities. From the first impression, they have quite great offers with high-quality customer support operating 24/7. Also, we need to mention that the company services are available for mobile device users and they normally can make investments from anywhere at any time. As they claim, they have well-structured award-winning offers and are oriented to maximize the satisfaction and profit of every customer.
During the research as well as from the official website, we discovered that the information about Fxtradelive is very difficult to find.
We were unable to find any promotional offers available on the website, which leads us to believe that they don’t have any. This was pretty surprising, considering that the majority of scam brokers try to deceive customers with attractive bonus offerings with a high deposit requirement. However, Fxtradelive does not have anything like this, so let’s move to other important features that might give us a better understanding of the broker’s services.
When you visit the official website, you will see a typical broker company page with a simple menu and accents on offers and company advantages. There is very general and not enough information about what the company does on the market, what offers and promotions it has, and others. The FAQ page also lacks information and creates a suspicious impression of the company.
The website itself is not very popular and does not show any important data. So, there is really not much to talk about. All you need to know is that if you want to learn more about T&C, accounts, bonuses, and others, you should write them to their official e-mail. The waiting time for getting an answer is pretty long which also outlines the low quality of their customer support.
According to Fxtradelive, the company is registered in the United Kingdom. If the broker company is registered in the UK, this means that it should be licensed and under the regulations of the UK Commission. But our research shows that the broker is not licensed by any international authorities. That information also can be checked on the UK regulated broker company list which is available and completely public on the authority’s official website.
Unfortunately, Fxtradelive is not included in that list. All of that leads us to believe that Fxtradelive is not licensed and in case anything illegal happens to your account (e.g. your money is stolen), you won’t be able to do anything about it.
How Do Fxtradelive Offering Present Themselves?
According to the website, they claim that their services are secured and realistic. They are oriented to make sure the user creates the account and places the first deposit.
The information about minimum conditions, withdrawal terms, and others are not available, and as they claim this is for security reasons. Everyone will the access to the specific information after having contact with the company representative. So how does Fxtradelive represent itself? Highly hidden company with the mask of protection.
With the deposit requirements, you have to choose between four different account types. The first one is the starter with a minimum deposit amount of 500 USD. The account includes a 5% bonus deposit and the senior broker feature. The next one is basic which costs 1 000 USD and includes a 10% bonus with the basic guide and senior broker feature.
Another one is the pro account where the minimum deposit amount equals 5 000 USD and includes a 15% bonus, 24/7 customer support, a pro guide, and an E/P broker feature. The final one is the executive account with a minimum deposit of 10 000 USD. This account includes a 20% bonus deposit and executive broker service.
What Do We Think After The Fxtradelive Review?
The reason why we do not recommend making investments in Fxtradelive is that they are not licensed by any international regulator authorities which means that the company operating history is not controlled and is completely unsafe for any user.
Additionally, as you saw, all you can find on the website is the general one-sentenced information about operating history where the main focus is on making sure that Fxtradelive is safe. Also, we have to mention that, the minimum deposit requirements are pretty high and with a lower amount of money you can make investments in more secured and licensed companies.