Faxton Incentive Limited is a forex broker that claims to offer a wide range of trading services, including CFDs, stocks, and indices. However, there are a number of red flags that suggest that Faxton Incentive Limited is a scam.
Company Overview
Faxton Incentive Limited is a company registered in Australia. However, the company does not have any licenses or registrations in any other jurisdictions. This is a major red flag, as it means that Faxton Incentive Limited is not subject to any regulatory oversight.
Does Faxton Incentive Limited Have Any License?
No, It is does not have any licenses or registrations from any regulatory authorities. This is a major red flag, as it means that the broker is not subject to any oversight and is therefore more likely to engage in fraudulent activity.
Is Faxton Incentive Limited Regulated By Any Authority?
Faxton Incentive Limited is showing a registration from ASIC. But the problem is the registered address and their website addresses are not the same.
Pros and Cons
Pros:
- The minimum deposit is low.
- The spreads are competitive.
Cons:
- The broker is not regulated by any financial authority.
- There are a number of negative reviews about the broker online.
- The broker has been accused of being a scam.
How Does Faxton Incentive Limited Reach To Their Prey?
This company reaches out to potential victims through a variety of methods, including cold calling, email marketing, and social media advertising. The broker often promises high returns and easy profits, in order to lure victims into investing their money.
Technical Details
Minimum Deposit:
The minimum deposit requirement for Faxton Incentive Limited is $100.
Trading Platform:
Faxton Incentive Limited uses the MetaTrader 4 platform. This is a popular and well-respected trading platform, but it is important to note that the broker does not offer any of the advanced features that are available on other platforms, such as automated trading and social trading.
Spread:
The spreads offered by FaxtonIncentiveLimited are competitive. However, it is important to note that the broker charges a commission on all trades.
Leverages:
Faxton Incentive Limited offers leverage up to 1:100. This means that you can control a position worth $100,000 with a deposit of just $1,000. However, it is important to use leverage with caution, as it can magnify your losses as well as your profits.
Packages and Products They Offer
Faxton Incentive Limited offers a variety of trading packages, each with its own set of features and benefits. The most basic package, the Savaers Package, offers access to the MetaTrader 4 platform and a demo account. The most expensive package, the Cooperate Package, offers access to a dedicated account manager, live market analysis, and other premium features.
Withdrawal and Deposit Method
Faxton Incentive Limited offers a variety of deposit and withdrawal methods, including credit cards, debit cards, and wire transfers. However, it is important to note that the broker has been accused of delaying or refusing withdrawals.
What Do Their Previous Traders Say?
There are a number of negative reviews about Faxton Incentive Limited online. Some traders have complained about the broker’s high fees, while others have said that they were unable to withdraw their money. There have also been a number of complaints about the broker’s customer support.
Summing Up- Why Should Not You Trust Faxton Incentive limited
The red flags mentioned above suggest that Faxton Incentive Limited is a scam broker. You should avoid investing with this broker, as you are likely to lose your money.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to Faxton Incentive Limited, you may be able to recover your funds through a chargeback or arbitration. You can also contact a financial recovery company for help.
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Final Thoughts
Faxon Incentive Limited is a scam broker that should be avoided. If you are considering investing with this broker, we urge you to reconsider. There are many legitimate brokers out there that offer better trading conditions and customer service.
We hope this article has been helpful. If you have any further questions, please feel free to ask.
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