ALERT | Fxedeal Review: Is It Legit Or A Scam?

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1
Rated 1 out of 5
Scam Company
1 out of 5 stars (based on 3 reviews)

FXEDEAL.COM INVESTIGATION HIGHLIGHTS

Item Description Website Information
COMPANY NAME:
FXEDEAL MARKETS PTY LTD
COMPANY ADMIN:
Unknown
REGULATION:
Unregulated
HEADQUARTERS
Australia
OPINION ON SOCIAL MEDIA AND REVIEW SITES:
Negative
PRIMARY PHONE NUMBER:
+61280056665 (Australia)
CONTACT EMAIL:
support@fxedeal.com (active)
WEBSITE URL:
https://www.fxedeal.com/
WEBSITE IP:
103.174.10.14
IP COUNTRY:
India
DOMAIN CREATION DATE:
2021-05-20
HOSTING:
ServerCake

Disclaimer: The information on this document was based on information gathered during the website investigation period. Please note that the information provided might be outdated because there might have been changes on the investigated website (i.e. website had been suspended or website had changed owners and changed its content).

What Is Fxedeal About?

For a variety of asset classes, including Forex, Indices, Shares, Energies, Metals, and Cryptocurrencies, Fxedeal is “considered” a reputable broker – however many beg to differ on this opinion. www.fxedeal.com is Owned & Operated by Fxedeal Markets PTY Limited incorporated in Australia with reg no. 647302949. Aside from showing suspicious behavior, Fxedeal has never truly revealed the identity of its owners. 

We all wonder why they do not want to attach a face to this brand. Could it be because this brand is not doing what they are claiming to do? Keep on reading to find out more about the suspicious and questionable activities and actions of Fxedeal, what they “claim” to offer to their clients, whether are they even registered or not, and so much more!

What Is Fxedeal Offering Or Promising To Clients?

Other than the minimum deposit amount, the leverage, and the charges levied on select accounts, Fxedeal’s range of accounts does not differ much from one another.

There was little point in opening an advanced account and paying $3 per side per lot when we could simply open a basic account for less money and with no commission and get the same leverage, as it turned out, even though the broker had promised to give us the leverage of up to 1:500 (or 1:400, they didn’t seem to be sure) on some accounts

The UK, the EU, and Australia, for instance, have outlawed anything higher than 1:30 on FX majors for retail clients, so 1:100 is a rather large amount.

This is due to the possibility that enormous leverage could result in both large profits and equally large losses—sometimes losses you cannot afford. However, if you are aware of this and still choose to trade with a leverage of 1:100, look into reputable brokers who provide such rates.

Just $100 is required to start the most basic account with Fxedeal. Even though it normally is, this might appear like a good deal. However, because this broker is a swindler, you should not trust them with any money.

Last but not least, the spreads we received on MT5 were quite competitive – as low as 0.1 pip on EURUSD. Rarely, even the finest brokers, can maintain spreads below 0.5 pip without levying a commission. However, given that this is an illegitimate broker, we would anticipate that the platform has been tricked in some way to display these spreads and persuade you that depositing with Fxedeal is a fantastic choice – when it is suspicious from what I believe.

fxedeal.com offers

Is Fxedeal Markets PTY LTD Legit Or Scam?

“A reputable broker for many asset classes, including Forex, Indices, Shares, Energies, Metals, and Cryptocurrencies,” is what Fxedeal bills itself as. However, the reality is very different; this broker is fully unregulated and nameless while attempting valiantly to persuade you that they are regulated by several agencies. We were asked to accept Terms and Conditions that don’t exist while finishing the registration procedure, which makes us think that the broker will come up with several creative ways to rob you later on—if they aren’t actually playing a longer game and taking your money right away. Furthermore, Fxedeal might only be a small part of a bigger fraud scheme.

If you want to save your hard-earned money, stay clear of such dishonest businesses and only work with reputed, reliable brokers.

Is Fxedeal Licensed? Can Fxedeal Be Trusted?

When it comes to trying to appear international, this broker outdid itself. Fxedeal says it has offices in the UK, Australia, Hong Kong, Dubai, and India. 

As stated on the website “www.fxedeal.com is Owned & Operated by Fxedeal Markets PTY Limited incorporated in Australia with reg no. 647302949”. We checked the Australian records and found that the license number does exist but the name is different. So we suspect that Fxedeal.com is just using the Australian license to look legit.

They also assert that they have a license from the FSC of St. Vincent and the Grenadines in the meantime.

The FSC of St. Vincent and the Grenadines is a body that has repeatedly maintained that it does not control forex brokers or grant licenses. Because of this, many con artists have established businesses there so they won’t have to worry about breaking rules or dealing with stringent authorities.

There are several reputable brokerages with offices in the nation, but they are branches of well-known brokerages that are regulated elsewhere and were founded with the sole objective of circumventing some regulations and providing clients with more favorable terms. However, such businesses would never assert that they had a license in St. Vincent and the Grenadines.

The FCA of the UK has issued a warning on this broker since it thinks Fxedeal is providing services on UK soil without a license. Thus people who invest in this offshore broker don’t have any legal protection from the UK government.

https://www.fca.org.uk/news/warnings/fxedeal

fxedeal.com FCA

Fxedeal Opinions On Review Sites, Social Media, And Contact Information

According to many sources, it has offices in Australia, Dubai, and the UK. Both India and Hong Kong. 

There isn’t a definite address, though. We assume the business just wants to seem to be global in scope. They don’t pay much attention to what their consumers think about them! Since FxDeal is a secretive platform, users cannot be trusted to provide basic contact information.

You can contact the business using the provided phone numbers and email addresses. With their sales representative, contact will be open. These are convincing tactical miniatures. They want you to think you’re making money, they say. You will be urged to deposit more money to receive more. However, the story will change once you demand payment.

The con artists will even start acting rudely. They won’t return your calls or emails. You’ll eventually give up, leaving your money in the system. FxDeal wants us to evaluate their customer service by the comments they receive. On their website or any other third-party website, we couldn’t uncover any customer reviews. Only warnings from financial analysts to avoid the broker are visible.

fxedeal.com social media

Fxedeal Review:

This is what a Fxedeal customer had to say about them:

Fxedeal is an Unregulated B-Book Fraudulent Broker. I contacted Rajesh, the Business Owner of Fxedeal, based on their LinkedIn Job Posting & Facebook Advertisement for Fund Management Services. I underwent a 6-day evaluation with Rajesh and Nithya, the owners of Fxedeal, and after achieving a 144% ROI in just 6 trading days, they quickly moved me into managing and trading their Live Account Forex Markets with Live Funds of $10,000. I had a 56% ROI after three trading days. After the first three days, I lost interest in trading and managing their live funds due to the subpar compensation. We decided to part ways with Nithya and Rajesh after numerous phone conversations, with an 85% profit split in their favor and a 15% profit split for

My 15% Profit Split Payout would be paid out in a matter of days, I was promised. However, after two days, they began to ignore my phone calls and block them.

Nithya’s offensive language and comparison of my profit achievement of 56% in 3 days to a useless hair in our most recent conversation were stunning. Additionally, she lacked humility and refused to pay my Profit Split Payout.

MyFxBook Private Data for the Live Account, Email Communications, WhatsApp Communications, the Account Statement of the Live Account, and other proofs are all in my possession.” Rajesh Bhatii

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How FXEDEAL Operations Differ From Reputable Companies

FxDeal is nothing short of a pyramid scheme. The alluring discounts made accessible to buyers reveal this. To earn a sizable commission, they nudge new customers to introduce more friends. 

These are all hazy promises of higher returns when reputable companies like Binance provide a fair return and total transparency. The plan states that every payment is processed once a week. A customer account manager will also be available. We are unsure, though, whether the plan involves experts.

It looks that eDealFX’s crooks are also in charge of this organization. The broker’s name is included with the MT5. This renowned website has started to attract scammers. This does not alter the reality that the thing is harmful, though. Investors have a variety of accounts to pick from. The characteristics are essentially the same, though. 

Leverage varies between 1:100 to 1:500. An investing firm may only provide a leverage cap of 1;30 in the United Kingdom. FxDeal cannot, therefore, be conducting lawful business in the nation. A spread of 0.5 pips to 0.1 pips is provided by the broker. Opening a transaction is inexpensive, and you stand to gain more from it. Unfortunately, using dubious platforms leaves no room for certainty. To influence you, they can change the circumstances.

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How To Get Your Money Back If You Were Scammed By This Company

Be sure to immediately alert the appropriate authorities if you believe you have been a victim of this business. The first thing you should do if you ever feel deceived is to terminate all contact with the brokers. Spare them any personal information that can expose them to fraud from other sources.

Use a secure server and a trustworthy website if you need to conduct business online.

Change all of your passwords, remove any dangerous software you may have downloaded, and, if necessary, contact your credit card provider if you think you are being defrauded. To report the scam and receive assistance with the next steps, get in touch with your neighborhood police enforcement agency.

EzChargeback is another respectable company that can help those who have been scammed or had their personal information stolen. We provide a guide for people to follow to protect themselves from scams and we can also refer scam victims to the best asset recovery firms so that they can have their money returned.

EZChargeback only partners with the most trustworthy and capable scam recovery organizations.

Once you consult with us, we will be able to help you solve your problem and refer you to the top asset recovery firms that will get your money back!

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