CFDxp is a cryptocurrency and other valuables trading platform. Despite the lack of information on the company’s website, the company’s name is growing in popularity among forex traders, brokers, and investors.
They can be reached by phone or email at +46842002553 or support@cfdxp.com. Their website address is cfdxp.com. It’s also worth noting that this broker is unregulated, based in the United Kingdom, and is a fraud. CFDxp, according to our research, provides investors with the Profit web-based trading platform. This trading programme supports CFDs on Forex pairs as well as most Crypto Currency / Virtual Coins. In total, there are around 180 underlying assets available for CFD trading.
It’s important to understand the difference between buying a coin and trading CFDs on coins. Singapore Coin, Swedish Coin, and Uber Coin are three new ICOxp coins that are likely to pique your interest. If you use a CFD broker, you can trade the coin with leverage. On Bitcoin and Ethereum trading, this broker offers a 10:1 margin.
License and Regulation
The first step in determining whether a new Crypto Currency broker is reputable or fraudulent is to look for a legal license while reviewing them.
CFDxp is not a registered broker-dealer. We can see that this broker is owned by the same company that owns the now-defunct ZeusOption. Government agencies such as the FCA in the United Kingdom, the SEC in the United States, and ASIC in Australia license and regulate legitimate CFD brokers.
Smart investors always confirm that the broker they intend to work with is licensed in their home country. According to their website, CFDxp is owned by FBR Investments Ltd. FBR Investments Ltd is based in Dominica, a well-known offshore jurisdiction that attracts shady investors from around the world.
CFDxp is a non-regulated brokerage. Brokers who are not regulated face the risk of being untrustworthy and abusing the rules. Keep an eye on this broker because they have no name and can disappear at any time. To ensure you’re dealing with a regulated and well-known broker, you should be able to easily find out who the CEO is, who runs it, and so on.
A lack of knowledge is a major red flag because you have no idea who will be dealing with YOUR MONEY. One of the reasons why CFDxp is a risky broker to work with is because of this. Because of a lack of knowledge and the fact that CFDxp is unregulated, funds are not safe.
Money security is a major concern with unregulated brokers. We discovered that CFDxp is concealing critical information from users, which is a red flag. Because CFDxp does not have any banking information, the broker could go bankrupt at any time.
Make supervising registered brokers a top priority so you can legally receive funds. Regulated brokers are becoming increasingly popular, especially among new traders. If you want to trade foreign exchange, cryptocurrency, CFDs, or commodities, paying attention to your broker can help you avoid broker fraud and withdrawal issues.
Traders can determine whether or not a broker is licensed using a variety of indicators and metrics. Because they are easily enticed by new offers and opportunities, new traders are prone to overlooking these variables.
Most traders will not research a broker’s benefits and drawbacks, and as a result, they will be duped by the broker. You’ll need to do a lot of research to find problems and complaints that can be used to prove that a broker is a crook. Reading ratings and reviews can help you determine whether a broker is popular or a scam.
Poor-quality brokers rely on commissions and make it difficult to withdraw funds. Never put your money with an unauthorized broker who does not offer a secure trading environment. The broker must provide a secure environment in which you do not have to worry about the safety of your funds or investments.
Several users have complained about being asked to pay extortionate taxes/fees, being unresponsive to withdrawal requests, or being flatly refused withdrawals. Please contact Cfdxp if you are having trouble withdrawing Cfdxp.
The popular MetaTrader 4 platform is available from CFDxp, as it is from the majority of brokers in the industry. For those traders who want to check their accounts at any time, anywhere, the CFDxp WebTrader software provides a convenient platform from which they can access the market without having to download memory-intensive software.
The proprietary systems of many high-quality brokers can provide an exceptional trading experience. Call customer service when investigating a broker’s case, but keep in mind that even rogue brokers can appear friendly and helpful at first, only to reveal their true colors later.
These account options might appeal to you. Trading on CFDxp, on the other hand, is a complete rip-off. For example, many dishonest brokers charge exorbitant withdrawal fees that do not cover service fees. You are unable to make a withdrawal from your bank account. These are some of the warning signs that a broker is having trouble. Traders should only deal with reputable, well-regulated brokers, such as those based in the United Kingdom or Australia.
All investors and traders should avoid CFDxp and other Vanuatu brokers. CFDxp has been linked to fraud, so we do not recommend dealing with it. Brokers who are not regulated have a hard time being untrustworthy and breaking the rules. Some dishonest brokers will be pushy with their clients, encouraging them to participate in certain trades.
According to reports, many unlicensed brokers, such as CFDxp, defraud clients. Due to a lack of information and unregulated CFDxp, funds are not safe. This is why it’s crucial to learn more about CFDxp before opening an account, sending money, or submitting any documents. To begin trading with CFDxp, the information provided here is insufficient.
A list of various CFDxp employees is also missing from the CFDxp support page, which many other brokers, particularly scam brokers, do not provide. The main issue encountered while researching CFDxp was that the broker did not provide his physical address in the contact section.
However, if the broker no longer provides contact channels such as email, phone, text messaging, and chat, and has a support staff that does not appear to understand the trade or asks evasive questions, this could be a sign of a scam or a low-quality broker. We found a slew of CFDxp reviews complaining about how bad customer support was after the initial deposit during our preliminary research on this broker.
To summarize, we do not recommend dealing with CFDxp, regardless of its trading conditions, because it is unregulated and could be a scam. He has the power to cause significant losses to his customers. Some brokers provide a wide range of trading options, while others specialize in one area, such as foreign exchange. Traders should only deal with brokers who are well-regulated and well-known (such as those in the United Kingdom or Australia). Please make certain that any trading goods you find in the CFDxp reviews have been granted permission to trade the products they offer.
Final Verdict
CFDxp has been identified as a potentially fraudulent broker. We don’t recommend trading with them, and if you do, get in touch with them right away to request a refund.
Regardless of the trading conditions it offers, we do not recommend dealing with CFDxp because it is unregulated and likely to be a scam. We believe he is a possible fraudster because he has the ability to cause significant losses to his clients. If they are con artists, this is to prevent them from withdrawing their funds. Don’t assume CFDxp is trustworthy just because you were greeted by a friendly chat bot when you first arrived on the site or because the broker paid you a lot of attention in the first few weeks.
This isn’t to say you shouldn’t try; trading can be safe and reliable in many situations, but only if you choose the right broker. A good broker should be regulated, have a good reputation, offer reasonable trading conditions, and provide excellent customer service. CFDxp clearly failed to achieve none of the aforementioned goals and could not be considered a broker, but rather a foreign exchange market con. The majority of the trading terms are hidden on CFDxp, which raises suspicion.
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