FxElite ’s website is definitely bogus! Raw codes, misleading texts, misleading images, and fake promises; all the elements of a scam are there.
Thus, we believe that it’s important to cover this site and warn traders about FxElite. In the FxElite Review, we’ve analyzed the information found on the website to prove that this phony broker is a scam!
FxElite cannot possibly be legit. It’s clear that FxElite’s regulation does not exist; this bogus website is anonymous. We investigated the origin of FxElite’s website and found out that it was created in March 2021. The statscrop.com data says that the server location is in Canada.
However, this is neither a Canadian nor US-based broker, per the regulatory authorities. We checked the databases of Canada’s IIROC and the US NFA for an entity named FxElite but didn’t find anything.
Instead, find a reliable broker with a Tier 1 license, issued by financial market watchdogs such as the FCA, CFTC, ASIC, BaFin, IIROC, etc.
Pretending to be a legitimate broker, FxElite managed to infiltrate some heavily regulated domains. Traders from these areas, beware!
FxElite’s website advertises some kind of platform, although we don’t know anything about it. We saw some generic images on the Home page but it’s all vague.
Since there’s no demo account, we couldn’t check for ourselves. The red flags just keep appearing, which is why we’re strongly against opening an account with FxElite.
It’s certain that FxElite doesn’t support any kind of valid third-party platforms such as MT4, MT5, cTrader, or SiriX, nor does FxElite offer mobile trading.
FxElite claims to operate on the principle of a mutual investment fund. This concept implies pools of money collected from many investors for the purpose of investing in stocks, bonds, or other securities.
These funds are owned by a group of investors and managed by professionals. You can probably now see how this scam is supposed to work – FxElite wants to gather as many “investors” as possible, put all their money in a pool and steal it!
In order to find and attract potential clients, FxElite uses social media – Twitter, Pinterest, Vimeo, and YouTube. Aside from social media, the financial swindler also uses phone calls and emails to contact users.
According to FxElite’s website, the broker offers the following instruments for trading:
Instead of trading account tiers, FxElite offers shady investment packages:
Here FxElite offers multiple awards, loyalty bonuses, incentives, etc., and guaranteed daily returns. The problem is that nobody can guarantee any percentage of returns, especially not in volatile markets.
Scammers use these cunning tricks to lure unsuspecting victims. Legit brokers will not promise returns and, unlike FxElite, will disclose the trading conditions – leverage, spreads and commissions.
FxElite does not offer a demo account. No risk-free trading here, folks. That’s a huge problem because we don’t know anything about the trading platform or conditions. We’re not even sure if there is one. That’s just one of the reasons why you cannot trust FxElite.
According to the website, FxElite deals with the following payment methods:
That’s all we know regarding the deposits and withdrawals. FxElite doesn’t even have a withdrawal policy. The minimum deposit and fees are a mystery.
You should write a complaint on one of the trading forums to warn your fellow traders about the FxElite scam. This shady broker doesn’t even have a Terms and Conditions document.
We will first report the scammer to the authorities and then we will help you get your money back. Our team specializes in bank chargebacks and crypto-tracing methods such as CipherTrace. Call us today!
If this broker steals your money, contact us for help. Use Online Chat to book a free consultation with us, it’s the easiest and fastest way!
No. FxElite is not trustworthy at all! This website is anonymous and unregulated. Do not invest in this trading scam.
FxElite offers FX pairs, commodities, bonds, indices, crypto, and mutual investment funds. But the trading platform is unknown.
No. FxElite does not offer a mobile trading app on its website.
No. FxElite is not trustworthy at all! This website is anonymous and unregulated. Do not invest in this trading scam.
FxElite offers FX pairs, commodities, bonds, indices, crypto, and mutual investment funds. But the trading platform is unknown.
No. FxElite does not offer a mobile trading app on its website.
The post Why We Decided To Write the FxElite Review appeared first on Global Fraud Protection.
