FXtrade777: Examining the Claims and Assessing its Legitimacy

Pros and Cons

Pros:

• None

Cons:

• Not regulated by any financial authority
• Many negative customer reviews
• Allegations of poor customer support, slow withdrawals, and manipulative trading practices

How Does FXtrade777 Reach To Their Prey?

FXtrade777 uses a variety of methods to reach out to potential customers, including:

• Cold calling
• Email marketing
• Social media marketing
• Search engine optimization (SEO)

The company also uses a variety of sales tactics to pressure customers into depositing money, including:

• Offering bonus accounts
• Promising high returns
• Guaranteeing profits

Technical Details

Minimum Deposit:

The minimum deposit required to open an account with FXtrade777 is $250. This is a relatively low minimum deposit, which may make it attractive to new traders. However, it is important to note that FXtrade777 is a scam broker, and traders should not deposit any money with this company.

Trading Platform:

They have the well-known MetaTrader 4 (MT4) trading software, which can be used on a computer, the web, or a mobile device. We found another strange thing about FXTrade777’s MT4 when we downloaded it, besides not being able to log in as a test user. Instead of Silver Wolf Limited, which is meant to run the business, a company called FXTrade Index Limited runs the website.

Spread:

There could be a conflict of interest because the broker only gives set rates and says in its terms and conditions that it acts as a Market Maker. Also, FXTrade777 has very high spreads—more than 2.5 pips on EUR/USD for both Micro and Standard account types—when compared to most fixed-spread platforms, which offer spreads of 2 pips for this match.

Leverages:

They offer high leverage. This means that traders can control large positions with a small amount of money. However, high leverages can also be very risky, and traders can lose more money than they have deposited.

Packages and Products They Offer

This company have many types of live trading accounts, including the ones mentioned above, as well as VIP and Islamic accounts. To be Sharia-compliant, Islamic accounts don’t allow any swaps or rollovers. However we were not able to open a free test account with this provider.

Withdrawal and Deposit Method

This website offers a limited number of withdrawal and deposit methods. This can make it difficult for traders to withdraw their money from their trading accounts.

What Do Their Previous Traders Say?

There are many negative reviews from previous FXtrade777 customers. These reviews allege that FXtrade777 has poor customer support, slow withdrawals, and manipulative trading practices.

Summing Up- Why Should Not You Trust FXtrade777

FXtrade777 is a scam broker. There are many red flags, such as the fact that it is not regulated by any financial authority and has many negative customer reviews. Traders should avoid FXtrade 777 at all costs.

If Bad Things Happen, Where Can You Get The Quick Solution?

If you have been scammed by FXtrade777, there are a few things you can do:

• Contact your bank or credit card company and file a chargeback.
• Report the scam to the authorities.
• Seek legal advice.

You can also contact us for a free consultation call. We can provide you with recommendations for recovery services that can help you recover your lost funds.