FXRevenues is a Forex broker that promises best trading platform and constant innovation in the industry. They provided address at Stoney Ground Road, St. Vincent and the Grenadines, with registration number 2316BC2021. Here’s what you need to know in our in-depth FXRevenues review.
FXRevenues offers trade on bitcoin and other markets. According to them. FXRevenues is provides world-class trading platform where you can trade currencies, crypto, indices, stocks and commodities.
There are 6 account types to choose from. Minimum deposit starts from $250 and leverages extends to 1:200.
Should you trust FXRevenues
FXRevenues is an ofshore broker operated out of Saint Vincent and the Grenadines (SVG) under a company registered as VHNX Ltd. This kind of platform cannot be trusted and neither can we recommend it because it is run by completely anonymous entities. They website fails to provide names of the company owners and are definitely not giving us reasons to trust their platform at all.
- FXRevenues is unregulated as they should be regulated if they want to target customers on regulated markets like the European Union, including the UK.
- FXRevenues provided address in SVG but that does not make it anything legitimate. SVG is not known for regulating online Forex activities. Anybody soliciting a Forex firm based in this jurisdiction is doing it on his own risk. The firm is not authorized anywhere to offer Forex services.
- Unlicensed brokers like FXRevenues do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- Bear in mind that unregulated brokers in general are completely uncountable for the way they handle your money, which makes any dealings with such entities extremely risky. Basically that is how people usually get scammed.
Is FXRevenues Safe?
FXRevenues is considered not safe, as it is not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC, FSC in South Africa and the US CFTC.
The easiest way to check if a broker is licensed is by looking it up in the registry of the respective financial regulator – be it the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority (FSCA). All of them keep such registers and they are publicly available.
FXRevenues is an unauthorized and illegal broker. Deposits with this broker are not protected, the company can’t legally offer its services in almost any country. It is a total scam.
How FXRevenues Works
You will notice how the FXRevenues scam broker works immediately you make a deposit to the FXRevenues platform. Scammers will take deposits from you but never let you withdraw anything. You might see some profits on your trading dashboard but trouble starts when you want to withdraw money.
They will use many tactics to make you deposit more. When you ask for a withdrawal, scam brokers will present silly legal document and conditions that is out of the question as far as legit brokers are concerned. But it will just be a lie to get more money from you.
They will request that you send them more money while declining all your efforts to withdraw your deposits.
At this point, most people will realize that they have fallen victim to a classical Forex trading scam.
Stay away from anonymous and unregulated platforms like FXRevenues. The risk involved far outweighs any potential gain.
Because FXRevenues is a scam like InfinoxFin, many users are going to see their money locked-up in this platform.