EnclaveFX is a Forex broker that has been making waves recently. Many traders are drawn to their platform because of the promise of making a high return on investment. But is it too good to be true? In this review, we will take a closer look at EnclaveFX and determine whether it is a legitimate broker or a scam.
Overview
EnclaveFX is a Forex broker that caters to traders of all skill levels. They claim to offer superior trading conditions, including state-of-the-art trading software and high-quality educational resources. The company promises that traders can achieve significant profits with their platform, but promises aside, we have to take a closer look at the broker to see if these claims are valid.
Is EnclaveFX Regulated?
Unfortunately, EnclaveFX is not regulated by any financial regulator. This is a major red flag. Traders should always choose a broker that is licensed by a reputable regulator. They showed an image of being an award-winning platform. But, we did not find any details about these awards and their license on their whole website.
Warnings from Financial Regulators
Not only is EnclaveFX not regulated, but it has also been flagged by financial regulators in several countries. The Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Financial Services Commission (FSC) in Mauritius have all issued warnings against EnclaveFX.
The FCA has specifically warned traders to avoid EnclaveFX as it is operating illegally in the UK. This should be a huge warning sign for anyone considering trading with the broker.
What Currency Pairs Do They Offer?
EnclaveFX claims to offer a wide range of currency pairs, including major, minor, and exotic pairs. However, when we visited their website, we found that the only trading instrument available was Bitcoin. This is another red flag and suggests that EnclaveFX is not a legitimate broker.
Customer Support
EnclaveFX claims to offer excellent customer support. They have a live chat feature on their website, as well as email support and phone support. However, when we tried to contact them via live chat, we did not receive a response. This is concerning and suggests that EnclaveFX is not interested in providing quality customer support.
Trading Platform
EnclaveFX claims to offer a state-of-the-art trading platform that is easy to use and packed with features. However, when we tried to access their platform, we found that it was not functional. This is another red flag and raises serious concerns about the broker’s legitimacy.
What Do Traders Think About EnclaveFX?
We searched for reviews and feedback from traders who have used EnclaveFX’s platform. Unfortunately, we did not find any positive reviews. In fact, the reviews we found were overwhelmingly negative. Traders complained about issues with withdrawals, slow customer support, and difficulties accessing the trading platform.
What To Do If You Get Scammed?
If you believe you have been scammed by EnclaveFX or any other Forex broker, there are several steps you can take. First, you should contact your bank or credit card company and ask them to put a hold on any transactions with the broker. You should also report the broker to the financial regulator in your country.
For an immediate response, you can contact us. We will evaluate your case and 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 Thoughts
In conclusion, EnclaveFX is not a legitimate Forex broker. It is not regulated by any financial regulator and has been flagged by multiple regulators. The broker claims to offer a state-of-the-art trading platform and excellent customer support, but our research suggests otherwise. Traders would be wise to stay away from EnclaveFX and choose a licensed and regulated broker instead.
