HandleFX Review Is This Broker Legit Or Scam

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HandleFX Review: Is This Broker Legit Or Scam?

HandleFX Review: this is the name of the of a Forex broker that claims to be based in Austria. Is this Forex broker legit or is it a scam? Forex brokers are continually on the increase, read this review to find out which is safe or not.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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HandleFX claims that it is a brokerage that is located Austria. The Financial Market Authority (FMA) is in charge of monitoring trades in the region. Checking the list online provided by the commission showed that the company is not truly licensed and registered. This is a discouraging find.

Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of HandleFX

The broker mentions that it offers traders a user-friendly trading platform as well as a large selection of assets in their trading portfolio. It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

HandleFX Trading Platform

HandleFX offers traders the MT4 trading platform. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are: currency pairs, CFDs on precious metals, indices, commodities, stocks, and cryptocurrencies. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverage offered to clients is not disclosed and while and while some may seem generous, it is not advisable. High leverages can lead to huge loss of funds as well. Spreads are not mentioned on the EURUSD pairs.

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Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on HandleFX

The means that traders are to use to make deposits and withdrawals are not mentioned on the website. We are used to seeing this made known by brokers and we also find the missing e-wallets options discouraging.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is left out or hidden. We always encourage brokers to make this detail public as we know that the average of $100 to $250 is what is obtainable among brokers. Withdrawal fees are not mentioned and this may be because they do not apply. However, we will appreciate it if this is stated. But commissions apply.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is HandleFX Licensed?

No. HandleFX is not licensed and is not registered under recognizable authority. This makes it dangerous to trade with this broker. Forex brokers who have no commission watching them tend to disregard trading rules and not keep to agreements.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Blacklisted by Austrian FMA

The Austrian Financial Markets Authority blacklists HandleFX and warns residents that it is not authorized to trade in Austria. This makes it clearer that this is a scam brokerage.

Support

To contact the broker, clients need to use the “contact” link on the website to send a message to the customer care agents.

Conclusion

There is no license owned by HandleFX making it an unregistered broker operating illegally. Its trading conditions are not clearly revealed on its website. We advise traders to avoid this broker because it has been blacklisted by the Austrian trading authority. If there is anything you would want to say about this broker, do so in the comments section.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

EagleFX Review: Is EagleFX.com A Legit Broker Or Scam?

EagleFX Review: This is the name of a forex and CFD broker located in Dominica. The headquarters of the parent company, EagleFX Ltd, is:

8, Copthall, Roseau Valley 00152, The Commonwealth of Dominica.

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The address above is a fishy detail because many scam brokers have claimed this same location. Investigation of the address turned up names like; Capital Investment Holdings Ltd. and Trade5000, both of which have been blacklisted by authorities in Switzerland and Poland.

There are many trading products offered to traders by EagleFX that may seem enticing. Some fall under indices, commodities, precious metals, and cryptocurrencies.

EagleFX Trading Platform

The EagleFX Trading Software makes use of the MetaTrader 4 platform. These is an encouraging discovery because the MT4 is a user-friendly platform. Easy to use and handle with very few complicated operations.

A demo account is available on eaglefx.com and testing it gave favorable results. The most popular currency pair, EURUSD, gave a spread of 0.9 pips at a commission of $6. Thus, showing a spread of 1.5 pips per standard lot on this pair.

Leverage offered by the EagleFX broker can reach 1:500. This is high and quite satisfactory. Like was mentioned above, traders can opt to trade on 53 currency pairs and CFDs on indices, precious metals, BTC, ETH, are provided.

Deposit And Withdrawal Methods On EagleFX

Deposits and withdrawal are allowed via Visa, MasterCard and Bank Wire Transfer. Withdrawals are said to be 100% free and can even be done through Bitcoin, PayPal and coinbase.

Minimum deposit required is $10. This is lower than the average $100 to $250.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is EagleFX Licensed?

No. EagleFX is not a licensed broker. This means that misappropriation of funds by this broker is not under the jurisdiction of any regulatory body.

Above, it was also pointed out that the address used by EagleFX is common to other scam brokers. Many of these have been placed in the light of scrutiny by top financial authorities.

Support

To contact a customer care agent, clients can choose to engage in a live chat via a link provided on the page. Other links allow for making a phone call or dropping a message.

Conclusion

The presentation of information by EagleFX page looks professional. Further, the trading options are really good. The minimum deposit and free withdrawal is an advantage.

But, the false claim of a license is discouraging. Likewise, the relation to known fake brokers by address. This makes it look less likely for EagleFX to be legit.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

Trustfx.io Review: Is TrustFX A Scam Or Legit Broker?

TrustFX Review: this is the name of a Forex broker that claims to be based in Europe. Is trustfx.io a scam or a legit forex broker?

The broker says it is a European company that allows traders access to the international financial market. It claims that ‘people with different incomes and status can earn in the financial market’. Their technique is combining ‘European financial conservatism and technology innovation’.

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Some benefits of trading with TrustFX is that they offer European services, flexible commission system, tight spreads, regular bonuses, experienced financial analysts, security, and many more.

TrustFX Trading Platform

It is mentioned that TrustFX trading software is operated on a MetaTrader platform available to all their clients.

Legit brokers are known to offer at least the popular MetaTrader 4 trading platform.

This platform is a very good sign along with MT5, as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders includes: 50+ currency pairs, CFDs on precious metals, energy, agricultural products, stocks, indices, and cryptocurrencies.

Maximum leverage offered is 1:50 but this differs from account to account. The spreads also differ with 3 pips fixed for the minimum deposit account.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on TrustFX

Payments can be made and withdrawal requests can be processed via: Visa, MasterCard, Bitcoin, Dash, Litecoin, and Ethereum. Electronic wallets are not allowed and this is not encouraging.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

A minimum deposit of $250 is required to trade with the broker. We do not find withdrawal fees and charges. However, like was stated earlier, there are bonus offers and we have found these to be problematic. Many scam brokers offer traders bonuses and then tie their withdrawals down with unrealistic rules attached to such bonuses.

Further, in the terms and conditions of this broker, we found that trading with TrustFX means that “all claims against the group shall become obsolete within 12 months of the occurrence giving rise to the claim”.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is TrustFX Licensed?

No. Since this broker claims to be based in Europe, it should be licensed by one of the several commissions. But this is not the case, neither CySEC, FCA or ASIC regulates this broker.

This means that fund misappropriation by TrustFX is not within the reach of any authority. Traders have been warned to avoid such brokers as they are not bound under any rule.

Support

No means of contacting the customer care agent of this broker is published on the page.

Conclusion

Besides the minimum deposit that is within the obtainable average, this broker has no advantage. It lacks a license and gives a condition for trading that is fishy as well. Traders are not advised to consider this kind of trading company.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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