FXTrategy Review – They Have One Strategy, And You Wont Like It
Visually, the fxtrategy.com website certainly looks the part of a decent forex broker. After spending some time on it, it was what we didn’t see that rang our alarm bells. This firm has no license or regulation, and makes multiple bogus claims and false advertisements.
Stay safe! See the remainder of our FXTrategy review to learn how you can tell if someone is trying to play you.
|Regulated by:||Unlicensed Broker|
|Is This Company Safe?||Unregulated firms are not safe for investing!|
|Have Warnings from:||N/A|
|Registered in:||Mexico (alleged)|
|Trading Platforms:||Sirix Station|
|Trading Assets:||Forex, Cryptocurrencies, Equities, Indices, Commodities, Metals|
|Free Demo Account:||No|
|How to Withdraw from This Company?||Never trust your funds with an unregulated firm! For help with asset recovery, contact our chargeback specialists.|
Illicit By All Means
FXTrategy is a brokerage firm claiming to be headquartered in Mexico City, Mexico. The problem detected immediately is the severe lack of corporate information that would help you determine the legal perspective of this conduct.
After checking with the jurisdictional regulator – CNBV, it is evident that FXTrategy doesn’t have a license to operate even in the jurisdiction where they claim to be registered. Not to mention that the broker doesn’t own any other license from the Forex niche.
The conclusion you can immediately derive is that the firm operates illegally and is not safe for investing. The lack of transparency is worrying and nothing guarantees fund safety – the same case as with other illicit entities like Exobit.
Latin Countries Targeted
The fxtrategy.com site was founded in 2021. They are only focused on gathering customers from Mexico and several neighboring countries:
International clients can still make an account despite the alleged restriction, as the only condition is a phone number. That is one of the ways FXTrategy can target other investors and countries despite the disclaimer.
Another practice employed is the engagement of boiler room agents that shuffle through social network profiles in search for contact details. After getting their hands on your phone number, email or anything else, relentless pestering starts, all for the purpose of pushing you into depositing.
Unrevealed Conditions And Prices
FXTrategy doesn’t let you read any of the trading parameters from their website. You have to open an FXTrategy account to get access to the traders zone and get data from inside the platform. Besides the carefully altered trading costs that seem too good to be true (spreads on EUR/USD start at 0.01 pips), leverage is concealed.
Underwhelming Trading Tools
From the promised Sirix, all FXTrategy actually has to offer is a rudimentary web-based interface. The broker also didn’t bother creating and customizing separate account types. What is somewhat of any value in their offer is the range of tradable instruments.
Supported Trading Platform
The advertised trading software for FXTrategy is Sirix Station. Now, this is a problem unto itself, since Sirix Station has a reputation that it is almost exclusively used by online fraudsters. With FXTrategy, even this is false advertising!
Instead of Sirix Station, their only available trading app is the Web Trader. The Web Trader is not a dedicated mobile app, but may be accessed through any device that has a web browser.
Concealed Asset Information
The fxtrategy.com website is not very forthcoming about trading instruments. There are simple explanations about different asset groups, but not a detailed and transparent table about individual instruments. This strategy is used by schemers behind Binatex as well.
We had to pull this list out of the FXTrategy web trader instead:
- Forex (EUR/USD, USD/JPY, AUD/NZD, GBP/CHF)
- Cryptocurrencies (Bitcoin, Ethereum, Litecoin, Polkadot)
- Commodities (Soybean, Coffee, Brent, Natural Gas)
- Metals (Gold, Platinum, Palladium, Silver)
- Equities (Renault, Lufthansa, Netflix, Ferrari)
- Indices (Nasdaq, Dow Jones, S&P500, DAX)
No Offer Of Accounts
What FXTrategy makes sure of is to first ask for a deposit. This sum is not revealed, but what is certain is that you have to buy your account. That automatically rules out the possibility of demo trading.
What’s more, no particular and separate packages are offered. As far as FXTrategy is concerned, every user gets one standard account they can fund with whatever sum they wish to deposit.
Suspicious Payment Providers
It is no wonder to see FXTrategy aligning with shady payment facilitators like latamcashier. This anonymous service provider handles your fundings and withdrawals, which is beyond risky.
Instead of being transparent with the payout conditions and processes, FXTrategy remains silent on this sphere of operation. Do not trust a broker that doesn’t ensure safety of your transfers. Not just your money is at stake, but your personal data as well.
Whatsapp Support Only
You see, FXTrategy doesn’t offer standard means of communication with their customer service. Contacting the FXTrategy support is only available via Whatsapp, which is anything but transparent and secure.
Reputable brokers will provide various other channels, like online chat, email, phone and callback, but not FXTrategy.
Get Your Money Back From These Crooks!
FXTrategy is by no means a reliable firm, as this alleged broker is not licensed anywhere in the world. Their corporate website is seriously lacking when it comes to trading information. Potential clients won’t know anything about trading features or costs until they’ve already created an FXTrategy login.
This is a run-off-the-mill forex investment fraud, and FXTrategy doesn’t allow any withdrawals. You may rely on the skills of our experts for help with your chargeback. Contact us at any time via the live chat, and book your free consultation.
What Is FXTrategy?
FXTrategy is a fraudulent brokerage firm from Mexico that is completely unknown to authorities.
Is FXTrategy A Scam?
Yes, most likely they are. Besides not owning any valid license, they tend to remain anonymous. For help with withdrawing your cash, please contact our support crew.
Which instruments can I trade at FXTrategy?
Forex, Metals, Equities, Crypto and Commodities are allegedly available for trading.