FXCess Review – Facade of Professionalism Hides an Ugly Truth
FXCess Review – Facade of Professionalism Hides an Ugly Truth

The website presented by this little known brokerage is just a tip of an iceberg. Under the glistening surface of the ocean lies an incredible danger, built upon years of experience in the scam industry.

Let’s see how this dangerous boiler room operates in our FXCess review.

Regulated by: Unregulated Offshore Broker
Is This Company Safe? No, never invest with unlicensed companies!
Known Websites: fxcess.com
Have Warnings from: N/A
Registered in: Bermudas
Operating since: 2018
Trading Platforms: MT4
Maximum Leverage: 1:1000
Minimum Deposit: $10
Deposit Bonus: $5,000 each deposit
Trading Assets: Forex, Metals, Indices, Commodities, Futures, Shares
Free Demo Account: No
How to  Withdraw from This Company? Financial cons don’t allow payouts! Ask our chat agents about the chargeback procedure in order to restore your stolen funds.

Ruthless Financial Fraudsters

Upon entering the fxcess.com website, you will be informed that this particular firm operates outside of the EEA – allegedly, but there’s several issues with this statement.

Their parent company, CIFOI Limited, is said to have headquarters in Gibraltar. This jurisdiction is in fact part of both the EU and the EEA, which means it falls under strict MIFID regulation.

This also automatically means that CIFOI Limited should be legally registered by Gibraltar Companies House, and be regulated by GFSC, none of which is the case.

The FXCess broker and CIFOI Limited are subsidiaries of yet another firm, Notesco Limited. This one is actually incorporated in Bermudas, a tax haven offshore nation. It’s not regulated by BMA, though, which means that the company is operating without any authorization, just like the Growup Capitals scam.

Warnings Against Parent Company

Notesco Limited has been placed on more regulatory blacklists than you can count with your fingers, including CSA, BCSC, CBR, CNMV, Finanstilsynet, FI, CONSOB, AFM, and IOSCO.

These warnings pertain to two other known fraudulent domains – ironfx.com and fxgiants.com, so be on the lookout. Additionally, the company is currently a subject of an intellectual property dispute by WIPO, for infringing on the rights of another entity.

Long Time Hustlin’

Surprisingly enough, the FXCess scam has been running unobstructed since 2018, with the cons oriented towards these countries:

  • United Kingdom
  • France
  • Morocco
  • Italy

As with other investment hoaxes like GSPartners Global, this one uses social media viral advertising to get new clients. They can be found on Facebook, Instagram, X, and Threads.

These social links all serve as a starting point for the boiler room agents, who further contact interested parties via phone or online chat services. A premade script allows them to efficiently rip off their victims. Stolen money can still be recovered, so contact our experts to learn how.

Faking Online Reputation

A bunch of fake FXCess reviews will go a long way, and set up a solid foundation for the boiler room agents to work with. The issue is most prevalent on SiteJabber and Reviews.io where the firm has a 4.6 star rating, all of which are the same scripted text recycled over and over again.

TrustPilot has a larger community, and the voices of disgruntled clients are not as easily muffled there. The firm still has a positive 3.4 rating, mostly because the negative comments are mirrored by fakes.

Insane Trading Costs

For the standard spreads based account, the minimum spreads are quite loose, starting at 1.7 Pips. To top it all off, the company offers a maximum leverage of 1:1000.

The firm has slapped every imaginable fee on their service. There’s the $50 dormancy fee after a year of inactivity, and a 3% penalty for a withdrawal from a non-traded account. The actual withdrawal fee is not specified.

There’s an additional chargeback fee of $60, and an undefined administration fee that costs 10% of overall deposit or $200 at the company’s discretion. A myriad other, undisclosed fees, are also charged for “optional services”.

Huge Bonuses

The FXCess no deposit bonus advert is a complete lie. The accumulated bonus amount for Credit and Power bonuses is $9,000, with no cap on the Sharing bonus. Trading bonuses are banned in many areas, including the EEA.

Trading Environment is a Trap

As expected, the trading environment with this fraudulent company is just a placeholder to keep you occupied while you spend your money. No actual trading takes place, and any profits are just grounds for an up-front fee scam. Let’s review the provided trading amenities.

Misuse of Profesional App

Trading software enabled for users of the website is none other than MT4 – world renowned technological solution. Its functionality, speed, reliability and customizability has taken over the markets by the storm. 

However, FXCess MT4 serves as a bait to unsuspecting victims that are not yet aware of the foul intentions behind the seemingly rich offer.

Unpopular Mobile App

The website advertises the firm’s own mobile trading terminal called the FXCess app. It could be downloaded by using the QR code available on the site. It is also available on Google Play and App Store, but without many downloads or decent average rating.

Types of Assets Provided

The FXCess broker lists the following groups of products as available for trading and claims to provide over 300 instruments in total:

  • Metals – Silver, Gold
  • Indices – UK100, EU50, DE30
  • Commodities – Brent Crude, Coffee, Sugar
  • Futures – US500, NatGas, Coffee
  • Shares – Apple, Microsoft, Google

Classic and ECN Account

We can’t exactly call this offer the richest ever, as there are only two packages for FXCess login. In essence, these two bundles differ in terms of how trading costs are charged. 

Users that want zero commissions and default spreads can choose Classic account, while those who choose zero spreads have to pay commission. Deposit requirement is the same:

  • Classic – $10
  • ECN – $10

Unexplained Withdrawals

Depending on where you look for relevant information, you will find numerous discrepancies about FXCess withdrawal and deposit methods.

One of the withdrawal prevention methods is the minimum trading volume, which is $10,000 prior to any withdrawal. The Terms of Business, however, empowers the company to impose or change a minimum withdrawal amount as an additional requirement at any given time.

No One Listens to Clients

As any schemer plotting to rob you blind as soon as you deposit cash, this fraudster will have you believe they have the most diligent support crew ever. 

Unfortunately, the only way to reach out to them is via an online form that no one guarantees will ever be answered. None other ways of contact had been given, like emails, phone, live chat or anything of the sort.

Don’t Wait – Report Fraud!

As soon as you find out you’ve fallen victim to the FXCess trading scam, you should refer to the local authorities that can help you. If you need professional support, however, our team of highly skilled legal advisors is at your disposal. 

With our help, you can start the chargeback process and recover your stolen funds in no time! Contact us via the live chat or the online form and book your free consultation. 

FAQ Section

What is FXCess?

The company is a fraudulent entity that targets Forex investors and steals their deposits.

Is FXCess Legit?

No. The conduct is owned by unscrupulous firms that were blacklisted multiple times.

How to Get Money Back From FXCess Broker?

If you don’t feel like relying on jurisdictional authorities, you can always start your chargeback process and speed up the money recovery procedure with the help of our chargeback experts.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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