EuroXTradeFX Review – Multiple Blacklists Cannot Stop This Fraud

Even after attracting attention of several major EEA regulators, EuroXTradeFX continues to promote their shady services and still attempts to defraud traders. It seems all the blacklists just weren’t enough of a warning for this unscrupulous entity to cease their suspicious activities at once. 

EuroXTradeFX still claims to be a reputable broker from SVG, with a UK company registration. None of it being even close to truth, this firm is anything but reliable. Read our EuroXTradeFX review entirely to understand how this scheme operates and just how shameless in their cyber theft they have gotten.

Recent Registration And Several Blacklists

EuroXTradeFX allegedly operates from Saint Vincent and the Grenadines as EuroXTradeFX Limited since February 2023. The local regulator – SVGFSA neither knows of this entity, nor do they supervise brokerage brands in the area. 

The site also claims to be fully incorporated in the UK under the name of EuroXTradeFX Financial Services Pty Ltd. However, this firm is not found in the UK Company House as a properly registered company. Neither had FCA licensed them. 

While combing through the other registers, we found several warnings, which didn’t surprise us in the least after realizing all the talk about regulation was a lie. Influential regulators blacklisting this firm are CNMV, CONSOB, FSC, and FI.

While EuroXTradeFX is collecting blacklists as we speak, let us once again warn you about the dangers of investing here and why your funds aren’t safe. Firstly, the deposits aren’t safeguarded in segregated bank accounts and you will trade under increased risks. 

In case of a company failing, no compensation fund will make up for your loss and the lack of transparency implies involvement of AML rules breach.

EEA Targets Favored

When you check which regulatory authorities have blacklisted EuroXTradeFX, you can quickly come to a conclusion which targets are their favorite. The list of countries with the highest victim ratio is as follows:

• Italy
• Spain
• Germany

EuroXTradeFX advertises some exceptionally lucrative trading conditions and tools, but they fail to deliver these in every way, shape and form. There lies the whole point of a successful scam. Good advertisement and a bunch of boiler room agents to continually call targets, promise them great conditions and then convince them to invest. 

These deals could end only with EuroXTradeFX profiting, not the investors. So beware of such attractive propositions and call us for help if you wish to restore your investment with this broker dealer.

Trading Conditions at EuroXTradeFX

While EuroXTradeFX claims to have ultra competitive pricing with raw spreads from 0.0 and flexible leverage of up to 1:300, we could not easily confirm these statements. 

The spreads being this suspiciously low suggests the illicit broker might not be entirely honest with us. Furthermore, this leverage is ten times higher than what is by law implemented in EEA, where EuroXTradeFX mainly operates. 

Some parts of the site claim the leverage for retail clients sits at 1:30 max, but then they also claim to enable the leverage of 1:400.

Affiliate Programme

This scheme is propagated as a unique opportunity to turn your influence into passive income. The allegedly highly profitable programme gives you a chance to refer new traders to EuroXTradeFX in exchange for commission. 

That could bring you up to $1000 per referral, with an addition of a 10% commission on Sub-Affiliate earnings if you become a Master Affiliate. 

FxOnUs offers bonuses of all sorts, and they’re just as dangerous and prone to scam.

Lies About Trading Tools and Platforms

When no regulatory authority oversees their activities and actions, it is easy for EuroXTradeFX to blatantly lie about the trading conditions and software they provide. It appears that they remain fully anonymous when it comes to making it clear what the prices are of many of their services. The elements of their general trading offer are pathetic and useless to say the least.

No Promised MT5

Providing a premium trading software that rules the Forex markets is one certain way to ensure your customers respect you. Preferred by millions of traders worldwide, MT5 is the epitome of a perfected trading platform that ensures trading success.

EuroXTradeFX only makes claims of providing this terminal, but doesn’t actually have it anywhere in the web form or for downloading. First you’re demanded to open a live trading account, but even after we did as told, no MT5 appeared. 

Personal area revealed a web trader button, but that didn’t work either because credentials we were given were incorrect. The Tradingview widget on the site cannot possibly qualify as a reliable platform either!

Instruments Advertised

We aren’t quite sure how EuroXTradeFX imagined trading would be conducted when they had no functional platform to offer. That didn’t stop them from claiming to provide an array of tradable assets:

• CFDs on Shares (Airbus, HSBC, Pfizer, Kering, Siemens, Tesla)
• Index CFDs (S&P 500, US 100, Dow 30, Nikkei 225, AUS 200)
• CFDs on Energies (Crude Oil, Natural Gas, Crude Oil Futures)
• CFDs on Precious Metals (gold, silver and copper)
• Forex (EUR/USD, USD/PLN, EUR/JPY, USD/GBP)

Account Types

Although we strongly believe opening an EuroXTradeFX account is completely pointless, we have to analyze what they offer in this niche. 

The three standard packages include varying leverage from 1:30 to 1:400, with the lowest spreads starting at 0 pips. Trading commission charged is $3.5 for Elite account and $7 per turn for Pro account. Prices of each individual account are left out, but the homepage claims the lowest deposit to be $250. 

These are the accounts:

• Standard 
• Pro 
• Elite

Inaccessible Demo Account 

Upon registering, you can apparently choose which account you wish to open – live or demo. However, after we completed the registration, we were urged to deposit to be able to do anything at all in the user area. The promise of risk-free trading during a trial period was a complete and utter lie to get targets to sign up!

EuroXTradeFX Academy

The concept of education at EuroXTradeFX is quite well designed. There’s several levels of advancement you can choose to buy, depending on your knowledge and initial Forex expertise. However, all the story revolving around the learning resources remains unconfirmed, as we didn’t want to risk being robbed by buying any of their promised courses. 

EuroXTradeFX Withdrawals

In order to withdraw funds from this site, you have to fill in a form with your essential financial info and submit it. Apparently, the form allows you to request credit cards or bank transfer withdrawals. Here comes the tricky part. 

The payment service provider is the notorious Cardeta, an Israeli facilitator which is known for using fake social networks accounts on Facebook, Twitter, and LinkedIn. This anonymous payment provider is often involved with high risk websites and investment scams. 

Getting in Touch With EuroXTradeFX

Since there’s simply no Contact page for this broker, the only trace of contact info we found is the single email address: [email protected]. However, when we tried to make contact, our attempts ended in failure. Even after hours of wait, no response arrived for our inquiry about the web trader login credentials. 

Our Final Verdict

EuroXTradeFX is a proven offshore scam firm with multiple blacklists. If you’ve deposited a single penny with them, there’s a big chance you will not see it again. That is, if you do not act on time and contact our legal experts team to support your case and recover your funds. Do not be ashamed of being scammed – this happens more often than you know!

Another blacklisted scam to watch out for is FxxTrader.

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