Sheherex is a cryptocurrency exchange that has been accused of being a scam. The company claims to be regulated by the Financial Conduct Authority (FCA) in the United Kingdom, but there is no evidence of this on the FCA’s website. Sheherex also claims to offer high leverage and low spreads, but there are many complaints from traders who have lost money with the company.
Company Overview
Sheherex is a relatively new company, having been founded in 2022. The company is headquartered in Saint Vincent and the Grenadines, which is a known offshore tax haven. Sheherex does not have a physical office and its website is poorly designed and full of errors.
Does Sheherex Have Any License?
Sheherex claims to be regulated by the FCA, but there is no evidence of this on the FCA’s website. The FCA has warned investors about Sheherex, stating that the company is not authorized to operate in the UK.
Is Sheherex Regulated By Any Authority?
Sheherex is not regulated by any financial authority. This means that there is no oversight of the company’s activities and that traders are not protected if they lose money.
Pros and Cons
Pros:
- High leverage
- Low spreads
- Wide range of cryptocurrencies available for trading
Cons:
- Not regulated by any financial authority
- Many complaints from traders who have lost money
- Poorly designed website
- No physical office
How Does Sheherex Reach To Their Prey?
Sheherex reaches out to potential traders through a variety of channels, including online advertising, social media, and email marketing. The company often uses fake celebrity endorsements and promises of high returns to lure traders into investing.
Technical Details of Sheherex
Minimum Deposit:
The minimum deposit on Sheherex is $250. However, traders should be aware that the company has a history of withholding withdrawals from traders who have made profits.
Trading Platform:
Sheherex uses a proprietary trading platform that is not well-regarded by traders. The platform is often buggy and difficult to use. There have also been reports of the platform manipulating prices to the detriment of traders.
Spread:
Sheherex offers variable spreads, which means that the spread can change depending on market conditions. However, the spreads on Sheherex are generally higher than those offered by other cryptocurrency exchanges.
Leverages:
Sheherex offers high leverage, with traders able to leverage their trades up to 100:1. However, high leverage can be very risky and can lead to large losses if the market moves against the trader.
Packages and Products They Offer
Sheherex offers a variety of cryptocurrency trading packages and products. These include:
- Spot trading
- Margin trading
- Futures trading
- Cryptocurrency CFDs
Withdrawal and Deposit Method
Sheherex accepts deposits and withdrawals via a variety of payment methods, including:
- Credit card/debit card
- Bank transfer
- E-wallets such as PayPal and Skrill
However, traders should be aware that the company has a history of withholding withdrawals from traders who have made profits.
What Do Their Previous Traders Say?
There are many complaints from traders who have lost money with Sheherex. Traders have complained about the company’s high spreads, poor trading platform, and history of withholding withdrawals.
Summing Up- Why Should Not You Trust Sheherex
Sheherex is a scam broker that should not be trusted. The company is not regulated by any financial authority and has a history of withholding withdrawals from traders who have made profits. Traders should avoid Sheherex and choose a reputable cryptocurrency exchange instead.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with Sheherex, you should file a complaint with the financial regulator in your country. You should also contact the company that issued your credit or debit card to try to get your money back.
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Final Thoughts
Sheherex is a scam broker that should not be trusted. Traders who invest with Sheherex are at risk of losing all of their money. Traders should choose a reputable cryptocurrency exchange instead.
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