ANSWER Dear Investor,
We strongly advise against trading with FCXTRADE, as it may be an illegitimate brokerage company.
Although FCX claims to be registered in the UK, we cannot find any relevant results on the Financial Conduct Authority's (FCA) licensing register. For a trading company, being regulated by local financial authorities should be of great importance.
FCX also claims to be licensed by the Financial Services Commission (FSC). However, upon investigation, no matching company name was found on the FSC's official website. The Financial Crimes Enforcement Network (FinCEN) in the USA, which it also claims to be regulated by, does not regulate CFD trading either.
Given these warning signs, we suspect that FCXTRADE does not hold any legitimate broker licence. This raises serious concerns about it being a scam. We recommend avoiding this broker in order to protect yourself from financial losses.
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