Apex Crypto FX Review – The Scam Indicators to Watch for

Apex Crypto FX Review

As the financial markets offer high returns, a lot of people often engage in online trading to supplement their income, or to get higher returns on their investments. If you have also decided to try your luck, you will need the services of a broker.

But, this is a path you need to navigate with the utmost caution because the wrong choice could very well mean disaster.

The markets are filled to the brim with companies offering you their services, but they are not all authentic and scammers are not likely to give you a warning. You need to make some effort to find out the truth and this will lead you to the following Apex Crypto FX review.

Majority of the brokers you find will promise you a fulfilling and smooth trading experience and this is expected. But, everyone is aware that not all companies would be the same and there will be some ups and downs.

However, there are some that are downright scams and these are the ones you have to watch out for. After all, there is no coming back after you have lost your hard-earned money and you will have to start from scratch.

Not only is that exhausting, but not everyone has the capital to try again. Therefore, you have to do it right and this means making the decision of signing up with a particular broker after giving it careful consideration. The key is to remember that there are certain qualities that only a genuine brokerage will have and a fraudulent will not.

Thus, you only need to see through their disguise to find out the truth and steer clear of a scam. The same applies to Apex Crypto FX that bills itself as a forex and CFD broker with a friendly looking website that offers you access to commodities, indices, gold, stocks and cryptocurrencies.

But, when you take a closer look, you will find some scam indicators that Apex Crypto FX has, which tell you the truth. What are they? Check them out below:

No licensing and regulation

If there is one quality that sets genuine brokers apart from scam ones, it is their licensing and regulatory status. Legitimate companies will get a license from the regulatory authority of the country they are based in because this is a requirement for providing their services.

This license is only issued after they have met certain requirements, which are certainly not easy. Therefore, it is hard-earned and reassures people that they are dealing with an authentic company.

You will find that experts will recommend that you choose a regulated and licensed broker in order to stay safe from scams. When you come across Apex Crypto FX, you will be impressed to see that it is licensed and registered in London, United Kingdom.

After all, the UK is one of the top regulated jurisdictions in the world and its regulatory body is the Financial Conduct Authority (FCA). It is one of the most respected authorities in the world.

But, as it turns out, you will not Apex Crypto FX listed as a licensed brokerage in the FCA’s online register. Instead, what you will find is a warning from the FCA about the company.

The British financial authorities have stated that Apex Crypto FX is operating in the country without a license, so it should not be trusted at all. It continues to get worse because you will realize that if it is not truly based in London, then you don’t really know anything about it.

The Apex Crypto FX website does not offer any such corporate information, or background. It has just an obscure name of the company Apex Crypto FX Trading Services Ltd. and an email address.

The Terms and Conditions of the brokerage do refer to Saint Vincent and the Grenadines, but this does not help its credibility either because it is an offshore jurisdiction that is known as a scam haven.

Lack of a trading platform

Providing a trading platform is the responsibility of an online broker because it is needed for executing your trades. It is one of their most important offerings because there can be no trading without it.

Every company will offer you a different platform, so you need to make sure it has the right technology and can get the job done. Unfortunately, you will come across another scam indicator about Apex Crypto FX when you look for its trading platform.

This is because it does not seem to have a functional trading platform at all. Once you register yourself, you will be transferred to a funny looking dashboard on the Apex Crypto FX that does not give you any option for trading. All you are given is an option of making a deposit, which shows that the broker’s real intentions are.

Excessive leverage

Another obvious scam indicator that you will find when you are looking at Apex Crypto FX is that their leverage ratios are excessive. They are offering levels as high as 1:1000, which are downright obscene.

Most importantly, the FCA has imposed a limit on the amount of leverage that can be offered to retail traders and it is set at 1:30, but Apex Crypto FX is clearly not operating legally in the UK, so it is offering such high levels.

Only crypto payments

If you need more proof about Apex Crypto FX being a scam, you only have to look at its payment methods. The only payment option that the brokerage is supporting is crypto coins and this is not very surprising.

After all, it is the favorite method of scammers because crypto payments are not eligible for a chargeback, so you will not be able to get your money back after you have made a deposit. The payments are irreversible and since they are also anonymous, it works in favor of the criminals.

Final Thoughts

These scam indicators make it easy for you to see that Apex Crypto FX is not a brokerage you should be considering for your trading activities.