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In recent times, we have had a lot of complaints about a fraudulent platform called Fxtradeservice, it has been brought to our attention that there’s a fraudulent scheme going on there with the aim to steal from investors. The IOSCO and FCA  also confirmed in their publication that fxtradeservice.com is a scam platform. Just to clear any doubts, fxtradeservice.com is a SCAM.

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Investors are duped into making deposits by Fxtradeservice, which then blocks withdrawals. Here is the entire evaluation of fxtradeservice.com.

Fxtradeservice boasts of being multi-regulated and states that it offers free risk trading. But as we dug deeper, we discovered that the platform is a total fraud. The platform was not given the go-ahead to operate by a regulator.

As a result, our platform is unable to offer investors a safety net. Those who invested through the platform are having difficulty. Here is what our comprehensive FXTRADESERVICE REVIEW revealed.

Regarding Fxtradeservice

Fxtradeservice describes itself as a pioneer in internet trading on its about us page. Unfortunately, there is no discussion of it because the platform appears to be losing popularity with time. In Europe or the United States, no professional or everyday trader has heard of the platform.

Pros and Cons of Fxtradeservice

Fxtradeservice, they are dedicated to developing a dynamic and cutting-edge trading environment. Its fundamental principle is to prioritise the needs of the client. The platform also asserts that it is managed well by a team.

We have a platform that enables high leverage, minimal spreads, and resilient infrastructure. But after analysing the platform, we can confidently conclude that this is a bunch of shit. On the platform, no fair trade is occurring.

You must get the appropriate tools for the job before you start trading forex. Having the best forex trading robots available denotes this. These robots are reasonably priced and offer reliable investment opportunities.

Members have been unable to withdraw money from the site for the last few weeks. No one is able to leave with their gains as a result. The platform does not respond when questioned about the issue.

Regulators intend to issue a warning on trading on the platform as a result. Those who enlist up in defiance lose everything they put into it. Additionally, because Fxtradeservice is a scam, it is not recommended to trade on this site.

Before joining such platforms, experts advise conducting research. Before investing money, you must understand what you are getting into. Before signing up, attempt to find out about other users’ experiences.

Tiers and accounts in trading Fxtradeservice

The many sorts of accounts that are available on the site are not mentioned by Fxtradeservice. We can infer that the platform provides two unique accounts for dealing with binary options and forex. These accounts each offer a unique set of benefits.

Let’s examine these two accounts in more detail;

accounting for binary options

Users of the account are promised access to a variety of trading tools and a platform that has won awards. You also have a guarantee that you will receive quick and automatic trading solutions. Additionally, the account guarantees users over 100 indicators.

Accounts for trading forex

For forex traders, the platform also provides a trade-on-the-go service. Members are assured of receiving tax-free spreads and top-notch trader execution. Additionally, a cheap minimum deposit is promised.

Fxtradeservice Accounts

Account attributes
For each trading asset, the platform gives a separate account. These accounts have a flaw in that there are no obvious features. For instance, there is no quote on available spreads and allowed leverage.

If you’re new to trading, you can use the leverage that regulators have approved. The maximum leverage, for instance, is 1:100 in Europe. The maximum leverage available to retail traders in the United States is 1:50.

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On these accounts, no spread quotation is available. In the long term, sophisticated risk management systems are of little use. After a string of unsuccessful trades, the trading bots’ accuracy has come under scrutiny.

Members do not receive a demo account to test the platform. Members can view a demo account to get an idea of what to anticipate from the features. Unfortunately, the site does not provide a demo account, therefore that is not an option.

monetary resources and trading tools Fxtradeservice

On the site, there are just two classes of trading instruments. These include FX trading and binary options. Unfortunately, for the most part, binary trading is only accessible in a few nations. The outcome is that the asset is not as well-liked as it once was.

Both major and minor currency pairs are available for trading. These include well-known pairs like the USD, EUR, GBP, and JPY. Sadly, there is no cap on these assets’ leverage or spreads. Trading, therefore, occurs in the dark.

Despite having more than 30 assets, the majority are only accessible through mobile trading. These include equities, indices, cryptocurrencies, and commodities. The features that come with these assets are not mentioned.

Honors and distinctions Fxtradeservice

A platform that claims to have received several honours is visible. These include Best Broker Asia I F X EXPO 2021 and Best CFD Broker TradeON Summit 2021. Unfortunately, because the site downloads award logos, all of these are fake accolades.

Even though these accolades were mentioned, the platform was not a nominee. That demonstrates the lengths to which the platform will go in an effort to deceive investors. These accolades serve only to promote the platform as a reliable investment choice.

owner of a business

Who owns or operates Fxtradeservice is unknown. Fxtradeservice is now an anonymous investment platform as a result of this. So it stands to reason that you wouldn’t want to fund an account with a stranger.

The last thing you should be thinking about is trying to get money back from an unknown source. Unfortunately, people that allegedly use recovery agents end up losing more money. The authority to freeze bank accounts is not given to these agents.

These are fake addresses, despite the fact that the company claims to have offices in the US and Canada. Only in an effort to attract investors in the area, the platform makes use of these sites. Additionally, it wants to provide the impression that the site complies with stringent rules.

With Fxtradeservice, are money secure? NO

client reviews
A part featuring client testimonials helps to promote the platform as beneficial. The site reviews what appear to be successful traders in this part. And there are no favourable reviews of the platform elsewhere on the internet.

There isn’t a single independent website that praises the platform. And this demonstrates that the platform has no grounding in the sector. Even the platform’s social media accounts are inactive. That stinks and demonstrates a lack of professionalism.

Conformity, authorization, and registration Fxtradeservice
Fxtradeservice lacks a licence document that would demonstrate compliance. The platform was not given the go-ahead to operate by a regulator. Our platform disregards a predetermined legal structure.

The platform is free to impose strict trading conditions in the absence of suitable guidelines. This suggests that the trading platform might impose unusually high leverage. What’s taking place on the platform is it.

Regulators must be contacted to establish whether a platform is compliant. These trustworthy regulators include the FCA, ASIC, BaFIN, CFTC, CNMV, CONSOB, and CySEC. The SEC, NFA, and FINMA are a few others.

Contact and assistance Fxtradeservice

Don’t count on the platform to get in touch or offer any support. It lacks a direct channel of communication with employees. No direct phone number for staff personnel is provided for members to utilise.

A platform is frantically attempting to control the communication channels. Before joining, you should check the staff members’ availability. The interface at Fxtradeservice disables contact as soon as you make a deposit, which is a concern.

Safety of funds and deposits Fxtradeservice

Is fxtradeservice.com authorised to operate? NO

Your money is not secure, and the platform doesn’t provide a worthwhile trading experience. For instance, there is no financial security because the site does not separate accounts. Additionally, members are not protected against negative balances.

final verdict fxtradeservice.com

Please avoid visiting fxtradeservice.com.

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To recover your money from Fxtradeservice, consult the asset recovery experts at The Capital Co (www.thecapitalco.net), with an excellent record in fund recovery, your case won’t be an exception. Contact The Capital Co (www.thecapitalco.net) now.