CashFX Review: Insights from Traders
Is Cash FX a scam? Is it regulated, and where is this broker based? I am sure you have many questions simply because you ended up here and you know what? You’ve come to the right place. If You are willing to hear more about Cash FX then this review is for you.
|Broker status:||Unregulated Broker|
|Blacklisted as a Scam by:||FCA, FSCA, CB of Ireland, FMA|
|Owned by:||Huscar Lopez – CFxG.|
|Headquarters Country:||Panama City, Panama|
|Supported Platforms:||CFX, Expert Advisor algorithms and AI technology|
|Cryptocurrencies:||Yes, BTC, ETH, etc.|
|Types of Assets:||Forex pairs, cryptocurrencies, commodities, indices, shares|
|Free Demo Account:||No|
Cash FX Regulations and Security
Licenses and regulations are something that every company needs to have, especially an online trading company, all for their business to be legit. Cash FX is not one of them, yet the company claims that it is regulated by many financial institutions. Such as FAC, DFSA, FSCA, and FSA.
The FAC does not even exist, and the others have not issued any license to this broker. Therefore, you should understand not to even try to invest your funds with such a company.
Cash FX Warnings From Regulators
Since Cash FX brokerage is clearly conducting a scam, no wonder regulators have noticed it.
Let’s start with the FCA that warned everyone against the Cash FX scam.
The same warning was later issued by the Irish Central Bank.
New Zealand’s FMA blacklisted Cash FX as a scam too.
So far, it’s clear we’re dealing with a bogus broker.
Problem with withdrawing funds
The only funding method available is via Bitcoin, raising certain flags because a chargeback is impossible when you deposit with a cryptocurrency. Credit/Debit cards, Wire Transfers and Skrill, which are the most common payment systems, are not available for deposits. Also, no minimum withdrawal amount is specified, and each withdrawal contains a fee of 20%. The company claims that the fees are transferred to bonus funds that are available when you take part in their promotional schemes. Regulated brokers don’t take fees when a client decides to withdraw the funds. Enough said.
Traders about CashFX
Overall, the people share good and bad experiences all over the comment section for the Cash FX broker. But clients are usually not satisfied with the withdrawal process and in the trading process in general. Many of them claim that they were scammed and they lost a lot of money, while many claim that they managed to make some.
“BEWARE! I invested in a 1K package; when I wanted to withdraw, they charged $120 for transaction fees and only let you withdraw the commission you make!! Not an investment platform at all!! Scam Scam”
How does an online trading scam work?
You can choose between three trading packs as a client, and this is where a 30/70 split happens. 30% of what you paid goes to the academy pack. The remaining 70% serves as your investment. Does that sound fair and reasonable? Of course not. It’s because Cash FX doesn’t care what you’re going to learn, they care how much you can afford to lose.
Scammed by Cash FX?
If You were scammed by a Cash FX broker, we could provide help. Unfortunately, these things occur, but they can be taken care of if you appropriately react on time. Let us know and we will manage from there.
Make a free registration with our website, provide us with details of your issue and give us the necessary documentation so that we can do everything in our power to help you restore your funds.
But what is a chargeback?
Contact us via online chat and our support team will provide you with all the relevant information regarding chargeback and getting your money back from Cash FX.
What is Cash FX?
Cash FX is an online trading brokerage blacklisted all over the world.
Is Cash FX a scam?
Caxh FX has been blacklisted in the UK, New Zealand, South Africa, and Ireland. Enough said.
Is Cash FX regulated?
Despite false claims, Cash FX doesn’t have any kind of regulations.