FameEX Review – Famous For Being Run By Comic Characters
FameEX is an anonymous crypto exchange platform established in 2018. Just in the time when digital currencies have risen to the point of provoking a mass euphoria. Everyone started looking for ways to buy and profit off of crypto. The gold rush has affected the breakthrough of thousands of unreliable service providers until financial authorities started heavily regulating the crypto markets.�
That’s around the time when FameEX should have acquired a license for their exchange. But apparently, that never happened. Judging from the vague website info, it isn’t quite known where this company is established and who runs it. Comically enough, the supposed leadership team was presented through a series of comic characters with shallow and who knows how truthful evaluations of their professional success.�
�In this FameEX review, we will examine the exact conditions of trading and investing with this suspicious platform. Also, we will go through all the problems of regulations and licenses that FameEX conveniently neglects, as if it isn’t the most important aspect of every single financial conduct.�
|Is This Company Safe?
|Not a single unregulated financial services provider is safe!
|Have Warnings from:
|Depends on the currency�
|Available after sign up
|Crypto (BTC, ETH, LTC, ADA…)
|Free Demo Account:
|How to� Withdraw from This Company?
|The only way of withdrawing your funds from frauds is with legal help!
Legal info: Is FameEX Legit or Scam?
Not much can be found out about FameEX at all. Several reviews posted online do not submit enough evidence to confirm their legitimacy, while all of them claim FameEX to be super reliable and trustworthy. Based on what, we wonder.�
Not even many user experiences are there either, but we’ll get into those details later. We mention this now because the only hint about the actual FameEX origin to be US can be found on TrustPilot. Their company profile on TrustPilot is that of a verified company.�
Under the assumption of their US location info being true, FameEX should have a CFTC license for derivatives trading. NFA – National Futures Association keeps a membership database of all licensed entities and FameEX isn’t a part of it. Still searching for any trace of licensing, we also looked through the registers of FCA, ASIC, CySEC, CONSOB and CNMV.��
Since they do not appear anywhere in the Tier 1 databases, nor does the company provide any info on their authorisations and regulations, we have concluded that FameEX operates unlicensed. That further implies that nothing guarantees that investing and trading at FameEX is secure and protected. While the website may claim to have the highest security measures implemented, only a Tier 1 license would be a valid confirmation of that.�
Without the necessary authorisation, FameEX cannot be considered anyhow different from any other unregulated or even scam platform, like Power Trade. We also may as well categorize FameEX as an offshore anonymous entity that offers financial products and services of no actual value or credibility. Because of that, we implore you to ensure the safety of your funds by choosing a regulated market dealer instead.
FameEX.com Countries of Service
Officially running since 2018, FameEX has been on the market for a while. During the course of over five years, they’ve had their fair share of profit from numerous investors. As the statistics show, FameEX is a worldwide crypto services provider. Their customers don’t just reside in one specific country or continent. The concrete numbers show the highest numbers of users come from these countries:
- United States
FameEX has their strategies of attracting new customers and ensuring the existing ones keep investing. By offering constant bonuses, promotions, contests and rewards of all kinds, the company lures clients into their web. Not only do they ensure the constant engagement of existing clients, but they also promote affiliate campaigns and referral programs to keep expanding their client base. Needless to say, the leadership cleverly charges every single action you perform on their platform and can earn enough to afford such rewards for clients. Unfortunately, what seems to be a big issue is that these promotions and bonuses are oftentimes fake or come with a huge price. That’s exactly what we discuss next, so keep reading.�
For a firm that’s been allegedly so tremendously successful, it doesn’t seem like FameEX is known to many people. Whenever we tried looking into what users say about their experience with this company, not many reviews came up. The couple of them we managed to dig out are on TrustPilot. Average grade FameEX got is only 3, which doesn’t imply the customers are any satisfied with the services.�
As aforementioned, users confirm that bonuses and promotions that FameEX offers are not true at all. As it appears, the company doesn’t pay out the rewards and isn’t truthful to their word about the promised bonuses. Here’s what their ex customers say about that:
“The app interface is nice, but it’s not really user-friendly. The campaigns are just scams to get more users and don’t deliver the rewards (contacted their support several times, but they just keep me holding on for an answer). Their volumes seem false, I don’t believe they have much depth and they don’t have any cashing-out options. Won’t trust placing my money with them, at least for now.”
“BEWARE, THIS IS A SCAM. THEY DO NOT PAY OUT ANY REWARDS AND WILL STEAL YOUR DATA.”
It can’t get much clearer than that. So we advise caution if you happen to be trading with this firm. Also, if you think you need professional help in dealing with FameEX, we’re at your disposal.
Trading Fees and Commissions
The trading fees you’re obligated to pay while performing your trades are already included in the prices. How much FameEX charges you depends on the VIP level you are. There’s total of 9 (nine) VIP levels. The more you spend, the lower the trading costs. The basic level has to pay a fee of 0.1% upon every executed trade. Fees for the traders of higher VIP levels are progressively lower.
While depositing funds with FameEX doesn’t cost anything, withdrawals cost according to the currency. Both the minimum withdrawal amount and the withdrawal fee depend on the chosen currency. So, for example, if you decide to withdraw BTC, the minimum amount for payouts is 0.01 BTC (~265 USD) and the fee is 0.0004 BTC (~10 USD).
If you want to buy crypto at FameEX, you will have to be ready to pay extra. BTC currently costs around 26.500 USD while it’s sold for more than 29.500 at FameEX!
FameEX Trading Features�
Popularity of crypto trading has FameEX offering a variety of services that involve this attractive currency. Whether it’s spot trading, margin trading, or derivatives trading, the company offers tools that supposedly facilitate engaging in any market. So let’s review them all separately and what it means for an individual trader.�
FameEX Trading Platform Overview
The FameEX platform accessible through a web browser can’t exactly be considered a stand-alone software. Powered by the TradingView widget, it projects the price movement, and a number of currencies available for trading. But that is pretty much it. No advanced options or tools, nor specialized customization options and features to up your game and provide an edge in whatever market you find yourself tested.�
On the other hand, there’s also a mobile platform that is specially developed by the FameEX team and could be downloaded from the Google and Apple store. It is allegedly designed to simplify trading, investing and price monitoring thanks to the comprehensive and rich distribution.�
FameEX notes that their app provides better control of the risk and losses and is very transparent and fair. You know, all the things you typically read on just about any site dealing with securities and derivatives trading.�
Available Trading Assets
As a crypto-centered exchange, FameEX primarily offers variations of crypto currency products. For a certain fee, you can buy and sell, and exchange a range of instruments, such as: BTC, BCH, BNB, ADA, ETH, DOGE, DOT, FLOW and other minor and major digital assets. The total number of available crypto currencies to trade with is 78.
By sharing your exclusive invitation link, you have a chance to earn from the trades that your referrals perform. This commission goes up to 60% of their trading fees. So the more people you invite into the scheme, the bigger your income. This bonus is supposedly regularly paid out every single hour. That would mean that by referring other customers to FameEX, you can earn a stable income.�
All of it would be marvelous if it was true and if it was really that easy. FameEX doesn’t have a separate legal doc that would explain how bonuses and promotions work, as they do not just serve to reward the customers. In reality, these have a purpose of tying you to that specific broker dealer by forcing conditions on you, such as the trading volume requirement and additional fees.�
How to Withdraw Crypto with FameEX?
FameEX makes withdrawals sound like a piece of cake with their claims of fast and seamless payouts. While depositing doesn’t come with fees, withdrawals certainly do. There is also a minimum withdrawal amount you have to have available on your trading account before you can attempt to initiate a payout at all.�
Depending on the crypto currency you choose, FameEX calculates your withdrawal rates and fees. Judging from the fees list on the FameEX website, withdrawal fees seem quite low. If only this company could be fully trusted, we’d even call them affordable. But do not forget – nothing confirms is FameEX legit or not.�
There’s also the ever persisting problem of crypto transactions and the anonymity of it all. Even though they’re known to be fast and smooth, crypto transfers are the least safe and almost fully definite. So issuing a chargeback would be a huge difficulty in case you change your mind after depositing. However, this is not an obstacle for our legal team, so feel free to contact us for advice or concrete help in withdrawing funds from this website.�
Getting in touch with FameFX is only possible through the following email addresses for different types of inquiries:
- Bug reports: [email protected]
- Business inquiries: [email protected]
- Customer service: [email protected]
Talking about anonymity, this is the best example of how FameFX keeps it. The company hasn’t posted on their website how to otherwise contact them. There’s no physical address of any of their offices or the phone numbers you could call in case of an urgent issue.�
It would be typical to have an online chat feature for the shortest waiting time to get assistance from the support agents, but not even that is available. By only providing an email contact, the fraud ensures no one can bother them, as they can not care less to ever answer emails unless they are the ones who want something from you.
Conclusion On FameEX Exchange�
Most of the problems about FameEX revolves around their license and regulation. Since this exchange is not in any way authorized or licensed, you cannot expect them to follow the safety protocols and ensure the safety of your funds. Just like any other unlicensed exchange, PayBito is taken as an example.��
However unwanted, it would be likely to experience withdrawal and other issues with financial you entrust to FameEX. Whatever it is, there’s always a solution. And our team of legal experts has it. All you have to do is book an appointment with any of our agents and you will be directed to the office that deals with exactly that kind of problem. First consultation is always free, so nothing costs you to reach out and talk about your experience.
What Is FameEX?
The FameEX scam reflects in operating without a proper license, as this crypto currency exchange has none. We advise caution. Also, contact us in case of withdrawal issues especially.�
Is FameEX Available in the United States or the UK?
FameEX login is possible from the US or UK as well.�
Is FameEX Regulated?
No, this company is in no way regulated and does not have the necessary certificate issued by a Tier 1 regulator.