FxRevenues is a forex and CFD broker that claims to offer a variety of trading products and services. However, there are a number of red flags that suggest that FxRevenues is a scam.
Company Overview
FxRevenues is a relatively new broker, having been founded in 2022. The company is registered in Saint Vincent and the Grenadines, which is a well-known offshore financial center. FxRevenues does not have any legitimate licenses or registrations from any reputable financial regulators.
Does FxRevenues Have Any License?
No, FxRevenues does not have any license from any reputable financial regulator. This is a major red flag, as it means that the broker is not subject to any oversight or regulation. This makes it much more likely that FxRevenues will engage in fraudulent or unethical practices.
Are FxRevenues Regulated By Any Authority?
No, FxRevenues is not regulated by any authority. You can see that they are just registered, not regulated. Also, this registration is not a license or authorization from the Thai authority. This is another major red flag, as it means that there is no governing body to protect investors from fraud or abuse.
Pros and Cons
Pros:
- Low minimum deposit of $250
- Leverage up to 1:200
- Dedicated customer support
Cons:
- Unregulated broker
- No legitimate licenses or registrations
- Negative reviews from previous traders
- High spreads and commissions
How Does FxRevenues Reach To Their Prey?
FxRevenues uses a variety of methods to reach potential victims. These include:
- Running online ads that promise high returns
- Cold-calling potential victims
- Offering free trading courses or webinars
- Infiltrating social media groups and forums
Technical Details
Minimum Deposit:
The minimum deposit to open an account with FxRevenues is $250.
Trading Platform:
FxRevenues offers its own proprietary trading platform. The platform is web-based and does not have any advanced features.
Spread:
The spreads offered by FxRevenues are high, which means that traders will pay more for each trade.
Leverage:
FxRevenues offers leverage up to 1:200. This means that traders can control a position that is much larger than their initial deposit. However, leverage can also magnify losses, so it is important to use it with caution.
Packages and Products They Offer
FxRevenues:
A Scam or a Legitimate Investment Opportunity?
FxRevenues offers a variety of trading products and services, including
- Forex trading
- CFD trading
- Cryptocurrencies
- Stocks *Indices
Withdrawal and Deposit Method
FxRevenues offers a variety of withdrawal and deposit methods, including:
- Credit/debit cards
- Wire transfers
- E-wallets
What Do Their Previous Traders Say?
The reviews of FxRevenues from previous traders are overwhelmingly negative. Many traders have complained about the high spreads, commissions, and fees. Others have said that they were unable to withdraw their funds from the broker.
Summing Up- Why Should Not You Trust FxRevenues
There are a number of reasons why you should not trust FxRevenues. These include:
- The broker is unregulated
- The broker has no legitimate licenses or registrations
- The broker has a negative reputation
- The broker offers high spreads and commissions
- The broker has been accused of fraud
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with FxRevenues, you can contact us. You need to submit your case through our form. Our experts will schedule a free consultation call with you to provide you with some recovery service recommendations.
File A Complaint Against Scam Broker's
Final Thoughts
FxRevenues is a scam broker that should be avoided. If you are considering trading with this broker, we urge you to reconsider. There are many legitimate brokers out there that offer much better trading conditions.
If you have any questions or concerns about FxRevenues, please feel free to contact us. We are happy to help you in any way we can.
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