Is EssenceFX a scam or legit broker?
No, it is not safe to trade with EssenceFX, because it is an offshore broker. The Company is wholly owned by Essence Markets Limited under registration number 40309, regulated by the Vanuatu Financial Services Commission, and incorporated in the Republic of Vanuatu.
HXFX Global Review – is hxfxglobal.com scam or good forex broker?
HXFX Global presents itself as a global forex brokerage holding licenses with three financial institutions. It offers its clients access to the popular MetaTrader4 platform, and a choice of three account types, however we couldn’t register a demo one for the purposes of this review. What is worse, our investigation on the regulatory status of the entities within the HXFX Global group revealed that the broker doesn’t actually hold a credible license of its own.
CALIFORNIA COURT ISSUES FINES OF $4 MLN IN DENARI FOREX SCAM
CFTC complaint filed in 2019 against Denari Capital
Is Your Forex Broker a Scam?
If your broker does not respond to you, it may be a red flag that they are not looking out for your best interests. To make sure you're not being duped by a shady broker, do your research, make sure there are no complaints, and read through all the fine print on documents. Try opening a mini account with a small balance first, and make trades for a month before attempting a withdrawal. If you see buy and sell trades for securities that don't fit your objectives, your broker may be churning. If you are stuck with a bad broker, review all your documents and discuss your course of action before taking more drastic measures.
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