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Is FXTrategy Legit or Scam?

FXTrategy raises a lot of red flags, making it a risky proposition for any potential trader. While it offers a variety of features like a user-friendly platform and a wide range of instruments, the lack of regulation and concerning user reviews are strong indicators that it might be a scam.

This FXTrategy review will delve deeper into the details to help you decide if it’s the right platform for you.

Company Overview

Services or Products

FXTrategy offers trading in a vast array of financial instruments, including stocks, forex, cryptocurrencies, commodities, indices, ETFs, and bonds. However, the lack of details about specific offerings and trading conditions raises doubts about their transparency.

If you have lost money to companies like ToroTradePro, or Xtradesness; please report it to us on our Report a Scam form.

Trading Platform & Leverages

FXTrategy utilizes the Sirix Web Trader platform, known for its user-friendly interface and accessibility across various devices. However, crucial information regarding leverage options is missing, making it difficult to assess risk management features.

Spreads and Cost of Trading

There’s a complete lack of transparency regarding spreads and other trading costs like commissions or withdrawal fees. This absence of information makes it impossible to calculate the true cost of trading with FXTrategy.

License and Regulations

This is a major red flag. FXTrategy isn’t regulated by any financial authority. Regulation protects traders by ensuring brokers adhere to specific standards and safeguard client funds. Without regulatory oversight, FXTrategy is not accountable to any financial body, increasing the risk of scams and manipulation.

Legal Warning Against FXTrategyr

Here’s an additional point to consider: some reviews mention a legal warning against a company called GT-Trader, which might be connected to FXTrategy. This further reinforces concerns about the platform’s legitimacy.

Deposit and Withdrawal Methods

FXTrategy only mentions WhatsApp as their customer support channel. The lack of clear information about deposit and withdrawal methods makes it difficult to understand how to fund your account or withdraw your profits.

FXTrategy Pros and Cons

Why Dealing With An Unlicensed Broker Is Risky

Unlicensed brokers operate outside the boundaries set by financial authorities. This lack of oversight exposes traders to significant risks, including:

• Loss of Funds: Unregulated brokers might not segregate client funds, increasing the risk that your money gets used for the broker’s own purposes.
• Manipulation: Without regulatory supervision, the broker could manipulate prices or trading activity to their advantage.
• Difficult Dispute Resolution: If you encounter problems with the platform, resolving disputes becomes much harder without a regulatory body to intervene.

Client Feedback

Many FXTrategy user reviews point towards difficulties in withdrawing funds, unresponsive customer support, and even allegations of fraudulent activity. These negative experiences highlight the potential dangers of using this platform.

How Can “Reviewsadvice” Help You If You Get Scammed?

While Reviewsadvice can’t directly recover lost funds, they connect you with resources to fight back. If scammed by a broker, Reviewsadvice can help with:

• Filing Complaints: Guidance on filing against brokers who violate terms or withhold money.
• Recovery Specialists: Connecting you with services to potentially get your funds back.
• Withdrawal Issues: Assistance in filing complaints if you’re facing withdrawal problems.
• Disappearing Brokers: Help find experts to track down the broker and guide your next steps or You Can report to us today by the below form.