Consider trading with MillionFX broker? Is millionfxtrade.com genuine? Let’s see MillionFX review to know about this forex broker.
This content promises to share helpful review to support clients/traders in making the right decision.
MillionFX also known as millionfxtrade.com is an offshore brokerage company with a lot of promises for forex traders. The broker happens to be completely unknown as there is no information about the entity that stays behind this website.
Further, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
See section below
Deposit and Withdrawal
MillionFX Minimum Deposit:
MillionFX minimum deposit is indicated $100. The good thing about a licensed FX broker is that minimum deposit is made known to traders, and clients can start trading as low as $100 .
As for the payment methods, the broker presented no payment options on the website.
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!
MillionFX leaves us with a withdrawal process of 7 to 10 business days and a withdrawal fee of $35.
MillionFX platform claims to offer Metatrader 4 (Industry standard trading platforms). What you must know is that, the claim to offer MT4 does not make the broker genuine in the service because any scam broker can do the same to appear real and lure forex traders/ clients.
As for MillionFX leverage, nothing is said. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why millionfxtrade.com Is A Suspicious Forex Broker
First of, millionfxtrade.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit. This website is completely anonymous. No company name or address is provided.
In addition, the platform does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders 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.
MillionFX Licensing and Regulation
It is not far from believing that this broker 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
MillionFX located at millionfxtrade.com claims to be a genuine trading broker, howbeit, that cannot be verified. From indications, we would advise traders to steer clear from this broker as it 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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