• Mon. Feb 17th, 2025

EuroxtradeFX Review (euroxtradefx.com) FRAUD EXPOSED – EuroxtradeFX Scam Broker

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Byfraudulentbrokers.com

Aug 3, 2023
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EuroxtradeFX Review (euroxtradefx.com)
Conclusion
After you have done your evaluation of EuroxtradeFX (euroxtradefx.com), you can conclude that this brokerage is up to no good and you should look for a different option.
Broker Rating
0.1

EuroxtradeFX (euroxtradefx.com) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! EuroxtradeFX scam works by getting you to believe you can become rich by trading with them.

EuroxtradeFX Review

You have probably heard of scam brokers if you have been thinking about jumping on the online trading bandwagon. The problem that most people encounter is that distinguishing between legitimate and scam platforms is a very daunting task. On paper it sounds very easy because you expect scammers to have unprofessional websites that are lacking in many ways. In reality, things are very different, as you can see in this EuroxtradeFX review. By all appearances, even fraudulent brokers seem to be very similar to legitimate ones and this can leave you confused and unsure of how to proceed.

EuroxtradeFX
 


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First things first, you should note that you cannot rely on what the company is telling you. No criminal would ever tell you what they are trying to do, so you cannot expect a scam brokerage to be honest about its flaws. This means that you will have to do your own homework, which involves looking at the ins and outs of a brokerage before you make up your mind about them. The good news is that it is not as time consuming and complex as it sounds. In fact, it is quite simple because no matter how much effort the scam platform might make, it cannot actually be a genuine company.

You can go over their primary offerings and take a close look at them to ensure they are exactly as advertised. If the broker is lying to you, it is best not to trust them because they can be lying about pretty much everything. You will learn this where EuroxtradeFX is concerned because it has done a great job of putting up a façade that makes it seem like an authentic brokerage. Claiming to operate from the European Economic Area (EEA), EuroxtradeFX promises a powerful trading platform with competitive trading conditions.

EuroxtradeFX Review
 

When you want to trade forex currency pairs, soft and energy commodities, precious metals, indices and shares, you will find that EuroxtradeFX promises a smooth trading experience. But, is it really what it claims to be? Let’s find out.

Regulation and licensing

The easiest and quickest way of finding out whether the brokerage you are dealing with is legitimate or a scam is by looking at its regulation and licensing. A fraudulent broker will never have a license because they cannot meet the criteria that requires it. After all, they are only trying to mimic genuine companies and are not really one. Therefore, you can simply ascertain if the broker you are dealing with is reliable and genuine by looking at their license.

This is the first problem you will have with EuroxtradeFX because no matter how professional it appears to be, it does not have a license. The only information it provides on its website is that it is operating in the European Economic Area (EEA), but it does not specify where in Europe it is based. There is no corporate address or background given on the broker’s website and this is certainly a big concern. It means that you cannot check its license with a regulatory authority of the region it is in.

It means that the brokerage is completely anonymous and you cannot trust someone you do not know. You can check the online register of the Cyprus Securities and Exchange Commission (CySEC), which is the top regulatory body in Europe and not find EuroxtradeFX listed there. In fact, when you go through its Terms and Conditions, you will find the mention of Saint Vincent and the Grenadines (SVG), which is an offshore zone that does not regulate its forex market.

As a matter of fact, the SVG has a reputation of being a haven for scams because of the lack of oversight and it is likely that EuroxtradeFX falls in the same category because you are dealing with an unlicensed and unregulated brokerage.

Trading platform

The most important offering of an online broker is their trading platform because you need this software for making your trades. It is needed for executing transactions and it is also integrated with trading tools that are handy during the process. The platform you are provided is at the discretion of the broker and EuroxtradeFX promises a powerful one, which is reassuring. But, claiming something and actually delivering it are two different things and this becomes obvious in this case.

The platform that EuroxtradeFX does provide is a web-based one, which are usually limited in terms of features and functionality. The one you find here is even more so because it does not have more than the basic features. It is extremely rudimentary and does not come close to offering the functionalities that you would see in platforms like the MT4 and the MT5. It is obvious that EuroxtradeFX is misleading its clients with its claims, which is not something a genuine broker would do

Trading conditions

The trading conditions that are offered by the broker can also indicate what kind of brokerage you are dealing with. Legitimate ones will offer you fair and competitive conditions and will be upfront about all costs to ensure you are ready to accept them. The same does not apply to fraudulent ones, as you will discover in the case of EuroxtradeFX. Despite promising competitive trading conditions, the brokerage does not live up to them.

The spreads at EuroxtradeFX start at 3.3 pips, which are at least three times higher than what are considered tight spreads. As for leverage, it goes as high as 1:300, which is also not a good sign. Brokers operating in the EEA are not permitted to offer such high leverage ratios to their clients. Regulatory bodies have imposed a cap of 1:30 on leverage that can be given to retail traders.

This means that since EuroxtradeFX claims to be operating in the EEA, it should not be supported such leverage ratios. The fact that it is shows that it is lying about its operations and it cannot be trusted.

The Verdict

All signs point to the fact that EuroxtradeFX is not a legitimate brokerage and is just another scam.

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