Online trading is a booming industry, but unfortunately, some platforms are nothing but fraud schemes. Scams are prevalent, especially among companies claiming to offer attractive trading conditions. It can be difficult to distinguish between legit brokers and scams, especially for inexperienced traders. Euroxbit.com is one such broker accused of scamming users. In this review, we’ll explore the broker and assess the legitimacy of the accusations made against it.
Overview
Euroxbit.com is an online trading company founded in 2016. The brokerage company offers a range of financial markets and instruments, including forex, stocks, and cryptocurrencies. Euroxbit.com’s platform design is straightforward and sleek. The website boasts of offering advanced trading tools, educational resources, low spreads, and 24/5 customer support services. As appealing as these features sound, they aren’t enough to convince traders that euroxbit.com isn’t a scam.
Is euroxbit.com Regulated?
An important factor to consider when choosing a brokerage firm is regulation and licensing. Regulated companies are expected to adhere to specific guidelines set by regulatory bodies. Through licensure, regulators can hold offending companies accountable, safeguard traders, and prevent fraudulent activities.
Unfortunately, euroxbit.com is not a regulated broker. A company that is not regulated exposes traders to a significant risk of losing their investments, and if that happens, the trader has no one to turn to for help.
Warnings from Financial Regulators
Several financial regulators have issued warnings against euroxbit.com. For instance, the Financial Conduct Authority (FCA) of the United Kingdom issued an Investor Warning that the broker isn’t authorized to operate in the UK. The Italian regulator, Commissione Nazionale per la Societa e la Borsa (CONSOB), also issued a similar warning.
What Currency Pairs Do They Offer?
Euroxbit.com’s trading platform offers over 100 currency pairs. However, the presence of a large number of tradable assets on a website doesn’t necessarily mean the website is legit. Euroxbit.com’s affiliate program also raises some red flags. The program offers commissions to people who refer new traders to the platform. Scammers typically operate under such programs, so traders should be wary.
Customer Support
Euroxbit.com claims to offer customer support services on 24/5. However, traders who have reached out to the broker’s customer care team report inadequate and unhelpful services. This is not a good sign since customer service is a crucial aspect of online trading.
Trading Platform
On the euroxbit.com platform, you can trade through web, desktop, and mobile applications. However, the trading platform has a deficient interface and limited functionality, which may cause traders to lose out on good trading opportunities.
What Do Traders Think About euroxbit.com?
A swift search of the internet reveals that euroxbit.com has numerous negative reviews. Traders complain of sudden losses, delayed withdrawals, and non-responsive customer support. Such accusations are common in scams, so it’s no surprise that euroxbit.com has a bad reputation.
What To Do If You Get Scammed?
If you get scammed by a broker, your first step should be to report it to your country’s regulatory body. You should then contact us to get an immediate solution and guidance. We will provide you with a free consultation and service recommendations to help you in recovering the lost fund.
File A Complaint Against Scam Broker's
Final Thought
In conclusion, euroxbit.com is allegedly a scam broker, and traders should avoid it. The absence of regulation and numerous warnings from financial regulators should be enough to deter traders from the platform. The negative reviews from customers attest to euroxbit.com’s unscrupulous dealings. Traders must always research any broker before investing their money. By doing so, they can save themselves from falling into the trap of scammers.
