FXCCoin Ltd – Are They Safe?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
FXCCoin Ltd - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://fxccoinlt.com
Founded: 2013 – 2023
Regulations: Not Regulated
Languages: All Google Translate Languages
Deposit Methods: Not Disclosed
Minimum Deposit: $200
Free Demo Account: Not Offered
Number of Assets: N/A
Types of Assets: Foreign Currencies, Crypto Currencies
Trading Accounts and Conditions
FXCCoin Ltd does not have any types of trading accounts to offer. Instead, they are offering their clients Investment Packages. Here is what this broker offers:
- Bronze Account: The minimum deposit requirement is $200. You are promised a profit of $3,500 and above.
- Silver Account: The minimum deposit requirement is $1,000. You are promised a profit of $9,500 and above.
- Gold Account: The minimum deposit requirement is $2,500. You are promised a profit of $19,540 and above.
- Premium Account: The minimum deposit requirement is $3,500. You are promised a profit of $32,450 and above.
There is no mention of trading conditions anywhere on this broker’s website.
FXCCoin Ltd – Advantages
There are no advantages to trading with FXCCoin Ltd.
FXCCoin Ltd – Disadvantages
Here are all the disadvantages that tell us that we are dealing with a scammer:
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Lies About Regulation
When reviewing a broker, the first thing we check for is their regulation status. This tells us whether the broker is operating legally or not. If the broker is not regulated, i.e., operating illegally, then it is a warning that they are scammers.
A regulated broker will clearly mention all details pertaining to their legal status – their corporate identity, where they are located, how they can be contacted, the name of the authority that has granted them their license and also their license and regulation details.
When any of this information is missing, it is a red flag.
With FXCCoin, there is a gap in the information they present on their website. We are not clear about which company runs this online brokerage, so there is an issue with their corporate identity.
Next, the address and the contact number are not concomitant. FXCCoin Ltd claims to be based in the UK, however, they provide a US phone number on their website.
The broker also posts several certificates, claiming to be licensed by various authorities. However, the print is so poor, it is difficult to make out which so-called authorities have granted this broker their licenses. And there are no license and registration numbers provided either.
Being based in the UK means a broker has to be authorized by the Financial Conduct Authority. So, we visited the FCA’s website to see if this broker was registered with the correct authority. We found out that this broker is not authorized at all by the FCA. And since there is no other regulation information on their website, we can confidently state that this broker is operating illegally, which makes them a scam operation.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Warning Against Broker
The FCA is one of the most stringent financial authorities in the world, and they keep a watchful eye out for scammers. So, it is no surprise to see that the authority has issued a warning against this broker. In fact, the FCA has blacklisted FXCCoin Ltd and posted a notice stating that this broker is operating in the UK illegally. The notice also warns that dealing with this broker would mean that traders would lose all protection against scamming.
When a warning such as this is issued against a broker, it would be best to heed that warning and stay away from said broker.
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Issues with Trading Platform
There are two key things a broker offers – their trading platform and their trading conditions. Let us address the issue of the trading platform first.
This is the software that brokers offer their clients via which traders can carry out trades. This is a broker’s sole product offering, so legitimate brokers will do their best to offer their clients the best possible software available in the market. This usually means the MetaTrader 5 platform, which has every possible feature to make trading easier and more intuitive for traders. These brokers will advertise their product prominently on their website and provide their customers with a free demo account to try out their product before investing.
When a broker compromises on the quality of their trading software, it is warning sign and it would be best to avoid them completely.
With FXCCoin Ltd, we do not know what kind of trading platform they have, since they have not mentioned anything on their website. Added to this, we could not get past the registration process to check for their platform ourselves. The lack of accessibility of their trading platform is a cause for concern and simply tells us that we are dealing with a scammer.
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No Trading Conditions
Just as the trading platform is a broker’s product offering, their trading conditions are their service offerings. They need to be clear and detailed so traders know exactly what to expect when they do business with that broker.
FXCCoin Ltd has omitted to provide any information on this critical aspect too, which only deepens our belief that we are dealing with a scammer here.
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Profits Promised
FXCCoin Ltd promises huge profits to their clients. There is no better sign of a scam than this. There is no broker that can make such a promise simply because losses are more common than gains in the extremely volatile forex market. In fact, 75% to 85% of all trades end in losses, so such profits that this broker is promising are all lies.
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Issues with Payments
FXCCoin Ltd simply does not mention what types of payment methods they offer, and since we were unable to register for an account, we were unable to check their payments section.
Conclusion
FXCCoin Ltd is a scam and it would best to avoid this broker.
Apex Tecrypto Tactics
Pros
- None
Cons
- Lies About Regulation
- Warning Against Broker
- Issues with Trading Platform
- No Trading Conditions
- Profits Promised
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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