The55thFX is a forex broker that has been accused of being a scam. There is a wealth of evidence to suggest that The55thFX is not a legitimate broker and that traders should avoid trading with them.
The55thFx Limited and located in California, USA. The company is not regulated by any financial authority, which means that traders have no protection if the broker goes out of business or engages in fraudulent activities.
Does The55thFX Have Any License?
The website says that The55thFx Limited has a license number 278/07 from the Cyprus Securities and Exchange Commission (CySEC) and is controlled by them. However we did not get any information from the CySEC website..
Is The55thFX Regulated By Any Authority?
Pros and Cons
- Not regulated by any financial authority
- Negative customer reviews
- High spreads and fees
- Limited withdrawal methods
- Not a well-established broker
- Lack of transparency
How Does The55thFX Reach To Their Prey?The55thFX uses a variety of methods to reach their prey, including:
- Online advertising
- Cold calling
- Social media marketing
- Email marketing
Technical DetailsThe55thFX uses the MetaTrader 4 trading platform. This is a popular trading platform that is used by many forex brokers.
Minimum Deposit:The55thFX has a minimum deposit requirement of $500. This is relatively low compared to some other forex brokers.
Trading Platform:The55thFX uses the MetaTrader 4 trading platform. This is a popular trading platform that is used by many forex brokers. The MetaTrader 4 platform offers a variety of features, including:
- Technical analysis tools
- Charting tools
- Order management tools
- News and analysis
Spread:The55thFX charges high spreads on its trading products and services. This means that traders will have to pay more to trade with The55thFX than they would with a more reputable broker.
Leverages:The55thFX offers high leverage on its trading products and services. This means that traders can control a large position with a small investment. However, high leverage can also lead to large losses if the market moves against the trader.
Packages and Products They OfferThe55thFX offers a variety of trading products and services, including:
- Forex trading
- CFD trading
- Cryptocurrency trading
Withdrawal and Deposit MethodThe55thFX offers a limited number of withdrawal 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 customer reviews for The55thFX online. These reviews allege that The55thFX has poor customer support, slow withdrawals, and manipulative trading practices.
Summing Up- Why Should Not You Trust The55thFXThere are many reasons why you should not trust The55thFX. The broker is not regulated by any financial authority, which means that traders have no protection if the broker goes out of business or engages in fraudulent activities. There are also many negative customer reviews for The55thFX online. These reviews allege that The55thFX has poor customer support, slow withdrawals, and manipulative trading practices.
If Bad Things Happen, Where Can You Get The Quick Solution?If you have been scammed by The55thFX, you can contact the following authorities for help:
- The Financial Conduct Authority (FCA)
- The Securities and Exchange Commission (SEC)
- The Australian Securities and Investments Commission (ASIC)
File A Complaint Against Scam Broker's
The55thFX is a scam broker. Traders should avoid trading with this broker. There are many reputable forex brokers available that offer better trading conditions and customer support.
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