If you are looking for a reliable and trustworthy forex broker, you might have come across ExpertFX. ExpertFX is a forex and CFD broker that claims to offer competitive trading conditions, fast execution, and excellent customer service. But are they really legit? In this review, we will examine the features, advantages, and disadvantages of ExpertFX and help you decide if they are the right broker for you.
What is ExpertFX?
ExpertFX is a forex and CFD broker that was founded in 2016 and is based in St. Vincent and the Grenadines. The broker offers over 200 trading instruments, including currency pairs, indices, commodities, stocks, and cryptocurrencies. ExpertFX also provides access to the MetaTrader 4 platform, which is one of the most popular and widely used trading platforms in the industry. ExpertFX claims to have a global client base and to operate under strict regulatory standards.
What are the pros and cons of ExpertFX?
- Low minimum deposit of $10
- Variety of payment methods, including credit cards, e-wallets, and cryptocurrencies
- Competitive spreads and commissions
- No requotes or slippage
- Fast execution and order processing
- Access to MetaTrader 4 platform and mobile app
- Educational resources and market analysis
- 24/7 customer support via phone, email, and live chat
- Lack of regulation and licensing
- Limited account types and trading tools
- No demo account or free trial
- High withdrawal fees and processing time
- Negative balance protection not guaranteed
- No bonuses or promotions
Is ExpertFX legit or a scam?
The most important factor to consider when choosing a forex broker is their regulatory status. A regulated broker is subject to oversight and supervision by a reputable authority, such as the FCA in the UK, the ASIC in Australia, or the CySEC in Cyprus. A regulated broker must comply with certain rules and standards, such as keeping client funds in segregated accounts, providing transparent pricing and execution, offering negative balance protection, and participating in a compensation scheme in case of insolvency.
Unfortunately, ExpertFX is not a regulated broker. The broker is registered in St. Vincent and the Grenadines, which is a notorious offshore jurisdiction that does not have any financial regulatory body or framework. This means that ExpertFX is not accountable to any authority and can operate with impunity. There is no guarantee that ExpertFX will honor its contractual obligations, protect its clients’ funds, or provide fair and ethical services. In fact, there are many complaints and negative reviews about ExpertFX online, accusing the broker of being a scam, manipulating prices, denying withdrawals, and harassing customers.
Therefore, we do not recommend trading with ExpertFX. There are many other forex brokers that are regulated, reputable, and trustworthy. You should always do your due diligence before investing your money with any broker. You should also be wary of any broker that offers unrealistic returns, promises no risk, or asks for personal or financial information that is not relevant to your trading account.
What to Do If You’ve Lost Money with ExpertFX?
If you have been scammed by ExpertFX or any other broker, you’ll want to seek assistance from cryptocointrace.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Cryptocointrace.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.