ExpertFXtrades Review – Should you Trust this Broker?



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ExpertFXtrades Review

ExpertFXtrades logoAre you looking for an expert broker to trade online? This ExpertFXtrades can show you one type of brokerages that you can find in the financial markets. A Google search shows that there are thousands of companies that have been founded over the years to cater to the needs of traders globally. You will not run out of options, but this does not mean that each of these companies can offer you the same quality of services. Yes, some of them are outstanding, but there are also those that are mediocre. But, you will also find a category of fraudulent and scam companies in the market.

Indeed, the number of these impostors has increased exponentially in the last few decades, primarily because online trading has strengthened as a trend and there is a huge pool of victims these criminals can exploit. You have to have proper knowledge about these scammers and be wary when shopping for a broker in order to avoid falling into their trap. Most people don’t believe they can be scammed until it happens and the feeling can be devastating to say the least. The key to preventing it is by being diligent and thorough when you are looking for a brokerage.

This means not opting for the first company that comes off as decent because appearances can be deceiving. A brokerage can have a completely professional website and still be a scam and you can only learn the truth when you peel away the layers. This is something you will notice with ExpertFXtrades as well. The name is attractive enough, considering that everyone wants an expert brokerage for their trading journey. Then you look into their offerings and find that it has portrayed itself as a privately-owned, independent and fee-only investment management company.

ExpertFXtrades website

As per their website, ExpertFXtrades has its headquarters in California and New York and some of its other offices are located in the UK, Australia, Russia, Turkey and Dubai. Plus, they claim that they have some of the best traders on their staff, who will be able to make trades on your behalf and give you weekly profits. Who does not want to sit back and earn some money? It sounds like a great deal, but regrettably, it is a well-designed scam scheme. How can you tell? Just take a look at the problems below:

Blacklisted by the FCA

The first thing that will give you confirmation about the scam nature of ExpertFXtrades is the fact that it has been blacklisted by the FCA. This is the Financial Conduct Authority, the regulatory organization that issues licenses to brokerages in the United Kingdom. It is known as one of the strictest regulatory bodies in the world and is widely respected due to its high standards.

Therefore, the fact that the FCA has issued a warning about ExpertFXtrades is a black mark against the broker and tells you that it is not one you can trust. After all, the brokerage is illegally offering its services to traders in the UK, despite claiming to have an office there. It clearly is not licensed to operate in the country and this makes it unreliable.

Fake Certificate of Incorporation

In order to give proof of its legitimacy, you will find that ExpertFXtrades has added a Certificate of Incorporation on its website. The certificate you find on the website has been issued for a company called Expertfxtrades Ltd. and is for England and Wales. Even if the company does have this certificate, it does not mean that it can be a substitute for a license, which is essential for operating in England and Wales.

Lack of license

As mentioned above, ExpertFXtrades claims to have its headquarters in California and New York, a claim which is quite impressive because the United States is also one of the most strictly regulated markets in the world. You have to have a license from the Commodity Futures Trading Commission (CFTC) and also be a member of the National Futures Association (NFA).

Unfortunately, when you check the online registers of both these entities, you will find that ExpertFXtrades is not listed anywhere, which means it is unlikely that it is based in the US at all. If it does have an office in the country, then it is operating illegally, which means there is no reason for you to trust such a platform at all.

Conflict of interest

Another problem that you will discover with ExpertFXtrades is the conflict of interest you come across. According to the brokerage, it has the top traders ready to trade on your behalf when you invest with it and can give you returns between 10% and 35%, depending on the account you decide to open. This sounds like a good deal, but it really isn’t. Why?

This is because like other brokers in the market, ExpertFXtrades are market makers, which means they make profits when their clients lose. Therefore, they cannot manage trades on your behalf because it would give them the incentive to lose all your money, as it would mean profits for the company. This is the perfect example of conflict of interest, so a genuine brokerage never offers to manage your account on your behalf.

Secondly, you will also find that ExpertFXtrades is promising insurance to its clients in case anything goes wrong during trading. Of course, such insurance does not exist because you are dealing with an unlicensed and anonymous broker.

Unrealistic returns

It should also be noted that the kind of returns that ExpertFXtrades is promising in its account types is not practical at all. Trading in the financial markets carries a lot of risks and no one, even the best and most professional traders, cannot guarantee returns. Instead, regulated brokerages usually issue warnings to their clients about the potential of losses, so everyone is prepared.

Final Words

After seeing that ExpertFXtrades is not licensed and is essentially an anonymous company you know nothing about, you can establish that it is not a broker to be trusted.



How To Get Your Money Back?

Get your money back from scammers!
Fill the contact form information on the page in this link and you can get the assistance you want in order to return your stolen money! You will be helped through the entire refund operation by the help line of a recommended money recovery service after which a client file will be opened for you by a personal case manager.