Do You Want to Know If FXLift Is Legitimate or a Scam Broker?
FXLift is a broker we’ve heard about from customer complaints. Right away, we see signs that FXLift is most likely a scam. It says it’s located in Bermuda, and it is licensed by CySec, but there are no names or credentials of the people who run it. Leverage is as high as 1:1,000 which is extremely dangerous. Overly high leverage can multiply losses and get traders to trade on the margin, which puts them in the broker’s debt. Also, bonuses of 100% are absurdly high–especially considering that regulators have forbidden these kinds of bonuses. They are always tricks.
There Are Some Problems with FXLift
It could be the case that FXLift has a CySec license, but it is violating the standards CySEc maintains. Most reliable regulators don’t allow leverage of 1:1,000 or huge bonuses. This license is so puzzling that we suspect that this version of FXLift may be a clone broker–a broker that has adopted a name similar to a regulated broker to fool people into thinking it’s legitimate. The website of the suspicious FXLift broker is here.
Red Flags that FXLift Could Be a Scam Broker
- Shuts down accounts without returning deposits
- Demands sensitive information
- Lack of transparency
- Verified customer complaints
What You Should Do If You Have an Account with FXLift?
You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!