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FXLeader Review – Facts About FXLeader.Com
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If you have encountered the FXLeader broker and wonder if it is a scam or a legit broker, this FXLeader review will assist you. We must admit that FXLeader skilfully covers up its fraudulent nature.
Even experienced traders would buy its seemingly legit service presented on its multilingual and well-designed website. Nevertheless, when you continue exploring, you realize that it has all the attributes of fraud.
Unlicensed business, fabricated trading credentials, and inadequate services are just the tip of the iceberg with this investment scam that we will cover in this FXLeader broker review.
|Headquarters||St. Vincent and Grenadines|
FXLeader Regulation and Security of Funds
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a major red flag! That should be enough for you to not invest with them.
And they also work with websites that offer “automated trading software” which is another red flag, as these kinds of websites are notoriously famous for scamming schemes.
On top of that, they even received an official warning from none other than the Financial Conduct Authority (FCA). This is more than enough to know you are dealing with a fraudulent broker.
Trading Software Overview
Trading at FXLeader is done with a web-based platform, and mobile apps are also available, which is quite simple. While it seems easy to use, this platform lacks any advanced features, such as good charting, indicators, automated strategies, and more.
Although there is nothing wrong with the web trader, we do advise you to work with a regulated broker that offers MT4 or MT5, simply because it can provide you a great trading experience.
Also, FXLeader is nothing more than just another scam that uses manipulative software to trick you into thinking you are making money so they can take even more from you.
What Kinds of Accounts Does FXLeader Offer?
When conducting this FXLeader broker review we also looked at the different account types this scam broker offers. There are 4 types:
- Micro- This type requires a minimum of $200
No matter the type you choose, the broker allegedly offers a safe platform, 24-hour trading, and a mobile trading option. Unfortunately, the exact trading conditions and deposits for each account are not specified on its website.
Additionally, the broker doesn’t even give an opportunity to potential clients to try out their services through a demo account, which is just another red flag.
What Can Be Traded on the Market at FXLeader?
While conducting this FXLeader review we saw that on their website they claim they offer their clients the possibility to invest in the following:.
Honestly speaking, their trading instruments are nothing special and they don’t have that big of an array of them. Because of that and also because they are unregulated and unlicensed, we do advise and suggest you find a good and reliable broker.
Deposit and Withdrawal Method
In regards to the deposit methods, they only offer the following two:
- Visa or Master credit or debit card
- Wire transfer
Just like any other fraudulent and illicit brokerage, they only have the basic funding methods. All legitimate and regulated brokers have a much bigger array of deposit methods that you can choose from.
On top of that, their minimum deposit is $200, which is very high in comparison to real brokerages that will let you start with as little as $5 or nothing at all. With all of this being said, we strongly advise you not to invest with FXLeader!
If FXLeader Scams Me, How Do I Get My Money Back?
In case you already deposited your money with this scam broker and they refuse to give your money back, don’t worry, there is still a way to get your money back.
The first thing you should do is try to find all the emails as proof that you have been requesting the money back from them but they keep stalling.
The next step is to perform a chargeback if you have deposited with a credit and debit card. Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back.
However, if you have deposited your funds in crypto, getting your money back can be much harder. This is due to the fact that these transactions are fairly anonymous and therefore much harder to trace.
We by no means are saying that in this case you should just give up and let the broker pocket all your hard-earned money, but just to be patient. The first thing you should do is report them to the local authority as they will help you immensely.
Remember that scams like these can happen to anyone, so don’t be ashamed. We encourage you to contact us as well as we will help you in the whole chargeback process.
While conducting this broker review we found that FXLeader is an offshore broker that follows no regulations and therefore offers no safety for trader’s funds. Not only are they unlicenced, but they have been issued a warning by the UK’s regulatory body FCA.
The minimum deposit requirement is also allegedly set at $200, but we found this out through various reviews as they failed to provide this info on their website.
Lastly, the broker doesn’t even offer a demo account for potential traders, which never happens with licensed brokers.
A good rule of thumb is to carefully review as many forex companies as possible before you swipe a card. And also remember to always think twice before investing anywhere and make sure you read the reviews first.
FAQs FXLeader Powers Broker