Looking to read FX Harvest reviews, you are in the right place. Should you trade with Forexharvest.com? Read reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is FX Harvest?
FX Harvest otherwise known as Forexharvest.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Meanwhile, the company offers a spread of 1.2 pips.
What We Discovered about FX Harvest Regulation
First of, FX Harvest claims incorporation in St. Vincent and the Grenadines.
But, Saint Vincent and the Grenadines SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not license forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.
Again, FX Harvest does not provide access to a Client Agreement or Terms and Conditions.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly putting your funds at a risk of scam.
These drawbacks are for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
FX Harvest Minimum Deposit
The broker FX Harvest has specified $100 as its minimum deposit based on the FAQ section. In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, this broker displays variety of deposit through credit cards, wire transfer and PayPal. However, we were unable to ascertain whether this was true.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
FX Harvest Platform:
FX Harvest offers popular industry trading software MT5. We were only able to test the software with a built-in Demo account because the broker does not allow free account registration and does not provide credentials for logging into a trading server.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
FX Harvest Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
It is not far from believing that Forexharvest.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
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
FX Harvest located at Forexharvest.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from an unlicensed broker as it’s likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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Last Updated on April 13, 2023 by Danny