RaiseFX Review: Is it a scam or Legit?

The short and clear answer is that RaiseFX is a SCAM. While their website might appear convincing, a closer look reveals glaring red flags that expose their fraudulent nature.

Unlicensed Operation: RaiseFX claims to be licensed in Kazakhstan, but this claim is a complete fabrication. No legitimate financial authority in Kazakhstan authorizes them. This lack of licensing means they operate outside any regulatory oversight, posing a significant risk to your financial security.

Blacklisted by French Regulator: In November 2022, the French financial market regulator (AMF) issued a public warning against RaiseFX, confirming their illegal and unauthorized activities. This official action further solidifies their status as a scam broker.

Deceptive Marketing: RaiseFX employs various tactics to lure unsuspecting traders. They boast features like low spreads, diverse assets, and MAM accounts, but these are mere facades to mask their true intentions.

What is RaiseFX?

RaiseFX presents itself as a global online broker offering trading in forex, indices, commodities, and cryptocurrencies. However, beneath the surface lies a fraudulent operation designed to exploit unsuspecting investors.

RaiseFX Details: A Red Flag Checklist

Red Flags and Warning Signs

Be wary of these red flags that expose RaiseFX’s true nature:

• Unlicensed operation: This signifies a lack of regulatory oversight and increases the risk of fraud.
• Blacklisted by a financial regulator: The AMF warning serves as a clear official confirmation of their illegal activities.
• Limited account types: Reputable brokers offer diverse account options to cater to different trader needs.
• Excessively high leverage: This amplifies risk and can lead to significant losses.
• Crypto-only deposits: This makes it difficult to recover funds in case of fraud.
• Negative online reviews: Numerous traders report negative experiences and difficulties withdrawing funds.

If you have lost money to companies like BTB Inc, or BraxtonWM; please report it to us on our Report a Scam form.

Customer Complaints and Negative Reviews

Numerous online reviews paint a disturbing picture of RaiseFX’s operations. Traders report encountering issues with:

• Difficulty withdrawing funds: RaiseFX makes it challenging to recoup your invested money.
• Unresponsive customer support: Attempts to reach customer service often go unanswered.
• Hidden fees and charges: Unexpected costs appear, eroding your profits.
• Manipulation of trading activity: Some users suspect unfair market manipulation to their disadvantage.

These real-life experiences serve as stark warnings against trusting RaiseFX with your investments.

RaiseFX Alternative Brokers

Instead of risking your money with RaiseFX, consider reputable and licensed brokers like:

• XM: Regulated by multiple authorities, offering diverse account types and platforms.
• Plus500: FCA-regulated, known for its user-friendly platform and diverse CFD instruments.
• IG Group: Highly regulated, providing educational resources and advanced trading tools.
• Pepperstone: ASIC-regulated, offering competitive spreads and low commissions.

These brokers have established track records, transparent operations, and regulatory oversight, ensuring a safer and more secure trading environment.

Got Scammed by RaiseFX? We Help Victims!

If you’ve unfortunately fallen victim to RaiseFX’s deceptive practices, don’t lose hope. Here are some steps to take:

• Report the scam to the relevant authorities: File a complaint with financial regulators in your jurisdiction.
• Seek legal advice: Consider pursuing legal action to recover your losses.
• Share your experience online: Warn others about RaiseFX’s fraudulent activities.
• Seek support from victim recovery organizations: Look for dedicated groups assisting scam victims.

Remember, BCA (brokercomplaintalert) can help you in these fields to help you recover the funds. Our professionals can tell you where to report and how to report. Also, their guidance can help you to choose the right recovery service or You Can report to us today by the below form.