Trxfo Review: Is Trade-X Foundation a Scam?

Trxfo is also known as the Trade-X Foundation. The broker claims to lead investors every step of the way. The scheme promises 24/7 customer service. Getting started is an easy process. How reliable is this company? This is our biggest question. 

The entity assures traders it is a reliable partner. However, we are wondering how the scheme is anonymous. Why can’t they operate in full transparency like all other legitimate schemes? What is the reason behind the entity? Hiding the identity and qualifications of the team. 

It is either the trxfo.com team is unqualified, or they are criminals. Offshore brokers are illegitimate. Their shady undercover business ends up collapsing. The authorities cannot track down the criminals as they are tactical. They use payment methods that don’t allow customers to issue chargebacks. 

Before investing, ensure you perform a thorough background check on a broker. The process will save you the trouble of dealing with scammers. We have compiled a list of legitimate crypto companies to save you time. You will earn passive income while enjoying top-notch security of funds and data privacy. 

Trxfo.com Review

Trxfo has over 200 tradeable assets. The scheme is investing in cryptocurrencies, stocks, forex, and commodities. These are volatile products with the potential of earning you profits or losses. 

You must have sound trading skills to enjoy the market volatility. However, scammers manipulate traders by encouraging them to invest with zero knowledge. They claim to have superior trading tools and work with professionals.

Investment is all about the statistics. Do not blindly trust a broker simply because they promise to be profitable. Trxfo has another vague statement indicating BTC is immune to any market changes, be it crises, wars, or being hacked. Therefore, investing in the product won’t attract any risks. 

The suspicious entity claims to use the latest technology to yield high returns. Investors can also enjoy a fast trading process. The offshore platform features generic content for marketing purposes. We are yet to see proof of payment or audited results. 

Trxfo claims to have won multiple awards. However, they fail to feature the company that accredited them with the awards. Also, there, we do not even know the title awarded. Scammers will do anything to remain relevant. The broker is new in the market. It takes time to build a reputation, even with top-rated ventures. 

Contact Details and Customer Support

The venture’s office address indicates the scheme operates from London, United Kingdom. Scammers feature fake addresses to appear genuine in the eye of the public. They cannot risk exposing their real location, as the authorities would put them behind bars. 

There is a phone number and email address which you can use to reach the team. However, we do not know the support response rate. Trxfo, being a new investment company, lacks client reviews. Based on traders’ testimonials, you can know what to expect from a company.

Sadly, offshore schemes use VoIP phone numbers. They are friendly and professional at the initial stages when they are promising huge returns. Once you recognize you have been scammed, they deactivate their numbers and cut you off. 

Only with legitimate companies will you enjoy world-class customer support services. You also can engage with the team on other social media pages. Refrain from doing business with offshore schemes. 

Trading Conditions and Accounts

Trxfo keeps investors updated by analyzing the market. They gather financial news and take the best action. The entity also promises to avail of educational materials. The resources are available in the form of videos and PDFs. 

However, we did not access the information. Hence, we cannot attest whether the information is useful or just some basic data. There are many free resources online that you can use to gain better market insight. 

Trxfo has five trading accounts. The minimum deposit is $5,000. Why the broker charges such a high amount is still unknown to us. We do not see any unique features or perks. Furthermore, there are regulated companies accepting deposits of $10. The average market standard is $250.

Companies charging more than that for a basic package are a complete rip-off. Moreover, the company doesn’t disclose the leverage, spread, commission, or swap to expect in all its five accounts. How else does the scheme expect us to believe they are trading even without availing of trading conditions?

Also, there is no demo account. Traders need to familiarize themselves with a trading tool before live trading. Usually, offshore schemes use web-trader as it is easy to use. Additionally, con artists can easily manipulate the current market price using a web-based platform. 

On the other hand, legitimate entities provide award-winning software such as the MetaTrader or C-Trader interface. You can even trade automatically using the tools. Using a superior trading platform gives you an upper hand in your earnings. It also shows the seriousness of an entity. However, you also must stay vigilant as some scammers provide leading software to win investors’ investors trust. 

Regulation Status of Trxfo

The least Trxfo would do is present a license, considering it expects us to believe it operates from the United Kingdom. The country has strict rules for brokers. Before any company starts collecting funds from the public, it must seek a license. Also, the broker should have a 730K EUR capital. 

The money proves the scheme can successfully run its business. The broker must also present the names of the corporations supervising its activities and the team. Unfortunately, Trxfo.com is an offshore platform that hasn’t met the above requirements. The scheme does not report trading activities to the financial watchdogs. How, then, can we prove there are investment services and products? 

You won’t get a negative account balance from the entity. You could even lose more cash than your initial deposit. Another challenge is the lack of terms and conditions policy. All brokers must have the document. It is a guiding policy that ensures the trading environment is conducive. 

Fund Safety at Trxfo

Trxfo guarantees users’ fund safety. However, the only documents supporting their claims are SSL and DDoS. Unfortunately, the material only encrypts data to avoid it landing in hackers’ hands. Considering these are con artists, you shouldn’t even share your data with them.

The only guarantee you have of fund safety is when dealing with regulated companies. As far as we know, this is a rogue firm without a license. Even having 2FA won’t help. The fraudsters will deactivate your account or refuse to handle your withdrawal request. 

Trxfo brags about partnering with reputable financial institutions. The information is misleading, as no company would risk its reputation by engaging with unauthorized entities. Therefore, Kraken, Binance, and Coinbase have nothing to do with Trxfo.com. Stay away from the Ponzi scheme. 

We also noticed the entity is working independently. There is no banking information. Hence, no segregation of accounts. The money you deposit shall go to the pockets of the fraudsters. Withdrawal and chargeback won’t be possible. Look for legitimate ventures that care about your trading experience. 

Final Verdict

Trxfo is unprofitable and untrustworthy. The company’s sole purpose is to defraud investors. You are better off without them. Ensure you choose a reputable and genuine investment platform. 

There are many top-rated crypto platforms. These are schemes working with professionals. You will earn passive income without having to worry about your safety. 

Tags: Trade-X Foundation Review, Trxfo Review