FXBinance Review: Fxbinance.com a Shady Company

FXBinance claims it is an exchange but there there are those that believe this is a Scam. In this review, we shall provide unbiased information regarding the info that the firm leaves behind. The company needs investors interested in its services to fill up the registration form, then deposit funds via BTC, Wire transfer, or credit cards. Cryptocurrencies are risky assets and making a mistake of investing with the wrong trading company is one thing but an exchange is more worst.

Digital currency payments are irreversible. The con artist will hold your money in their wallets.  FXBinance state that you can purchase and sell coins with the assistance of their account managers. However, the team that is working for the entity is not credited.

We cannot validate that they are indeed qualified. They are anonymous fraudsters are the ones that normally operate in this shade. Investors should double-check on the legitimacy of a platform before making the huge mistake of depositing money in a Ponzi scheme.

Invest with a transparent crypto company that is reputable. The team and the founder information is available to the public. The trading performance of the platforms is accessible. You will make an informed decision.

Fxbinance.com Review

Let us begin by clearly stating that FXBinance does not have any association with Binance company. Their name also suggests that they are dealing with forex assets but this is another misleading tactic. The suspicious state is that it finds opportunities in the industry that are both rising and dropping in value.

The entity is both trading cryptocurrency and doing cloud mining. However, they fail to provide adequate info regarding their mining activities. Generating money on digital currency is not easy as these schemes insinuate. The scheme claims it has trading bots but the mode performance of the software is left out.

We believe that FXBinance is a pyramid scheme. The venture state pays a huge commission of $2,000 to everyone that invites a new investor into their scheme. if making money way this way there would be no reason for getting employed.

Everyone would be living their dream by taking a vacation and relaxing at home. The entity also brags it has experience traders that rookie clients can learn from. The calculator on the website will show you the figure you will generate after investing a certain amount of money.

We are yet to see a successful trader who has earned using this scheme. We believe the venture is bluffing and does not have any technique of training. You should not entrust your funds to them.

How Does FXBinance Works?

FXBinance wears many hats. They claim to be mining, trading, and crypto exchange. Unfortunately, we cannot verify that the information available is true. The firm allegedly handles transactions at a fast speed.

The platform is secure and clients have nothing to worry about. Unfortunately, we beg to differ as the scheme fails to disclose how it protects the funds of clients. They do not have cold storage. Customers’ funds are likely going into the wallets of the con artists.

As a crypto exchange FXBinance should enforce high-security measures. We have seen even the best ventures being hacked. You should not expect to receive compensation when this happens. The entity is not transparent as there is a lot of info that is not put to light.

You can allegedly consult the venture if you have any burning questions. The venture is not recognized in the market as an exchange. Therefore, choosing them will cost you. The firm is designed for users from all over the world. Our main question is are they regulated?

The technique which the venture is using to trade is another mystery. Cryptocurrencies are not controlled by any government in the world but this does not mean that investment platforms do not need to be regulated.

Contact Details and Customer Support

FXBinance claims it originates from the UK. However, they are not in the list of legit companies in FCA lists. We have every reason to believe that the information the platform avails is false. Their address is randomly generated.

There is a phone number and an email address that clients can use to contact the scheme. Once things go south you can no longer reach the platform. The companies the scam feature at their footer have no links to them. As the company falsely claims the news outlets feature them. The entity does not have customer feedback praising their services yet nobody endorses them.

Regulation Status of FXBinance

FXBinance does not have a license. They claim that digital coins are decentralized.  Hence, no government or financial institution has the power to govern the assets. Crypto has revolutionized the market and the heft fees and the long tedious process of awaiting your money in the traditional payment method is no longer the case.

However, we have seen several con artists misuse the benefits of digital currency to hide their murkiness. They understand that payments done via digital currencies are not traceable. It is the requirement of various financial bodies in the world that any investment company that is collecting funds from investors acquire a license.

It does not matter whether they have reading products or services or they are promoting. FXBinance is trading both forex and cryptocurrency. Therefore, they must have a license. your money is not protected as the venture is not working with a recognized financial institution. They can claim to be bankrupt. Your money will be lost as the fraud make an exit from the market.

Trading Accounts and Conditions

FXBinance has 6 trading accounts. They have different features and requirements. The minimum amount that one can deposit is $250. The venture has bonuses for traders. We do not recommend taking up the offer as scammers usually do have hidden trading volumes that traders have to meet for them to cash out.

Furthermore, the financial watchdog of the FCA does not authorize such bonuses. This is another evidence that this is a rogue investment platform. There are several trading instruments and assets available depending on the account that you choose.

The more money you are willing to deposit the greater your reward. The venture is offering very high leverage that is risky to traders. The leverage ranges from 10 up to 100. It is not what the FCA approves.

Final Verdict

FXBinance is a clone of Binance company one of the reputable and transparent exchanges in the world. it is easy for rookie investors to mistake the two ventures. However, there is no partnership or collaboration. This scam is trying to joy ride on the success of Binance.

The entity does not have a license yet it is offering high leverage.  Their deposit is a violation of various financial watchdogs. The entity claims it is trading yet it does not have trading results or a license permitting them to offer these services. The venture is not an exchange as there is no company operating as one that offer bonuses.

If you need to venture into the cryptocurrency industry then trade with the best trading ventures in the market. These are genuine platforms that provide all the necessary info that you need. These are companies that put the needs of their clients fast.

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