7xFX Review : Fees, Pros and Cons, Reviews by Real Traders

7xFX

Operating status: SCAM

Website: https://7xfx.net/

Broker violations and abnormal records

Dec 12, 2022 The UK FCA Added 7xFX into Its Warnings
On 13 Dec 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that 7xFX was providing financial services or products in the UK without authorisation. You may visit: https://www.fca.org.uk/news/warnings/7xfx-trade-7xfx

On 13 Dec 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that 7xFX was providing financial services or products in the UK without authorisation. You may visit: https://www.fca.org.uk/news/warnings/7xfx-trade-7xfx
Dec 15, 2022 BrokersView has Reviewed that 7xFX is an Unregulated Forex Broker
7xFX claims to be "regulated" by Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) but SVG FSA is not a forex regulator. It does not regulate forex brokers or issue forex licenses. Having registration or not, therefore, does not mean being authorized to provide financial services. And we did not find any results that matched this company in SVG FSA.
The broker also presents a UK telephone number and an Australian one. So we searched Australian Securities & Investment Commission (ASIC) and the United Kingdom Financial Conduct Authority (UK FCA).
The results were that 7xFX is not regulated by ASIC and warned by FCA.
FCA issued a warning that 7xFX was providing financial services or products in the UK without authorisation.
The truth is that 7xFX is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

7xFX claims to be "regulated" by Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) but SVG FSA is not a forex regulator. It does not regulate forex brokers or issue forex licenses. Having registration or not, therefore, does not mean being authorized to provide financial services. And we did not find any results that matched this company in SVG FSA.The broker also presents a UK telephone number and an Australian one. So we searched Australian Securities & Investment Commission (ASIC) and the United Kingdom Financial Conduct Authority (UK FCA).The results were that 7xFX is not regulated by ASIC and warned by FCA. FCA issued a warning that 7xFX was providing financial services or products in the UK without authorisation. The truth is that 7xFX is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.