Are you thinking to invest with FXI Brokers broker? Read this FXI Brokers Review to understand if it is a scam or genuine broker and your money is safe with them or not.
Scam Victims Help has extensively researched the FXI Brokers Review and found several red flags that every trader should be aware of. Read our FXI Brokers review today to learn everything you need to know about this broker before signing up.
Broker Website – https://fxibrokers.com/
Headquarters or Area of Operation – Saint Vincent and the Grenadines
Warnings – Not Recommended By Review Website Like Scam Victims Help
We have several reasons to question Fxibrokers’ or FXI Brokers’ assertions that it is a reputable forex broker. A closer look indicates that this website is not only not legally permitted to provide financial services, but also that it is connected to several other fictitious brokers. It is nothing more than a deceptive plan intended to defraud uninformed individuals of their money.
Regulation of forex brokers and the safety of funds
You can’t be certain who is behind this purported broker. Not because there is a lack of such information, but rather because there are several contradictory accounts that cannot be verified.
FXI Brokers is listed as a trademark of FXI Brokers Trading Services LLC on the website’s home page.
This corporation allegedly has its corporate headquarters in Saint Vincent and the Grenadines (SVG). However, a search of the Financial Services Authority’s (FSA) record reveals that no such business is listed there.
Furthermore, even if it did exist, SVG registration has no impact on the safety of consumer cash. The FSA does not provide licenses to brokers and does not control the actions of IBCs involved in such activity.
Software for FXI Brokers trading
FXI Brokers advertises that it offers “an award-winning platform that is used by traders from across the world” on its website. After creating an account, we are only given access to a platform that is a bad copy of the software that is commonly used in the sector.
This “trading platform” is just a free chart with current asset values that was downloaded from TradingView. FXI Brokers is intended for those who have no prior knowledge and no notion of what to anticipate from a forex broker.
Deposit/Withdraw methods for FXI Brokers
According to the website, FXI Brokers takes PayPal, wire transfers, and credit cards. Only the first two choices are available in the deposit menu. The wire transfer needs you to first provide your bank account information while the credit card option is not available. Genuine brokers often give their customers a wide range of open payment options, such as bank transfers, credit/debit cards, and well-known e-wallets.
How does the fraud occur?
It is alluring to be seduced by the promises of quick cash that we frequently see online. But the vast majority of these promises—if not all of them—are being made by con artists. Many fraudulent scams in recent years have involved websites acting as brokers to capitalize on the hype around cryptocurrency.
If you give one of these con artists your contact information, they will start convincing you that they will multiply your money and that all you have to do is sit back and reap the rewards. They will start convincing you to commit more money after you consent to a small initial investment of a few hundred dollars.
However, you will never receive the promised earnings or your initial investment. Scammers can accomplish this in numerous ways. First of all, they avoid rules and regulations by hiding behind offshore corporations. They transmit money through dubious payment sites, direct bank transfers, or cryptocurrency, which makes it very difficult or even impossible to collect the money. The terms and restrictions are constantly filled with pitfalls that prevent you from withdrawing your money, like unrealistically high minimum withdrawal amounts.
Is FXI Brokers Legit or a scam? Final Thoughts
Sometimes scammers are increasingly using legitimate firms’ details to add an air of legitimacy to their scams. The fraudsters will ‘borrow’ some information from a legitimate firm for the purpose of fraud. They may quote authorization numbers/company registration numbers and links to seemingly legitimate websites and even provide the real address of an authorized/ legitimate firm.
Consumers are advised to check our scam broker 2023 page to verify company details and to call the firm back directly using its advertised phone number. Always access the register from our website, rather than through links in emails or on a company/ person’s website.
To sum up, all that has been said above in this FXI Brokers review, we give you the power to decide whether the broker is a scam or not. We request the readers move forward with extreme caution.
Scam Victims Help specialists research the brokers and find if they are involved in scams. We researched a lot about brokers to assist customers in taking the right decision.
We suggest investors stay away from this broker and go for the genuine one. If you have been a victim of FXI Brokers scam or any other broker, do not feel embarrassed.
File a complaint against FXI Brokers fraud right now and get instant help from our team in fund recovery!
Get help in forex scam recovery, crypto scam recovery, binary scam recovery, romance scam recovery, and also get a free consultation.
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