The brokerage service Silver FX promises high-quality service and friendly interaction with clients. On their website, you can find many positive reviews, but whether they can be trusted is a question that requires careful consideration. We will conduct an expert review of the company, determine its legal status, and only then will we be able to render a final verdict.
Company Information
Silver FX claims to have a rich history dating back to 2006. Even at first glance, especially considering the numerous positive reviews on the broker’s platform, a favorable impression is created. However, it turns out that this impression is deceptive.
A whois check revealed that the domain silverfx.org was registered only in September 2022. It is evident that the company is lying about its long work experience and publishing fake reviews to gain the trust of potential clients.
Specialized services have assigned the lowest rating to this platform. The anonymity of the project’s creators also indicates an unserious approach. The pseudo-broker claims to have over 300 employees, yet no names are provided. Experience shows that this is a typical tactic of financial scammers avoiding accountability to their clients.
Although Silver FX promises qualified support around the clock, in practice, investors are deprived of this opportunity. A specialized service discovered that the provided phone number for Silver FX is often used for fraudulent activities and financial scams.
The actual office address in Moscow also turned out to be inaccurate. According to 2GIS data, the specified address belongs to a large shopping and entertainment center where there is no office of the company Silver FX.
Regulated Intermediary?
Silver FX claims to operate within the law. Their User Agreement states that the company is registered in Saint Vincent and the Grenadines, but officially it is registered in London.
There is a scanned copy of a registration certificate on the website. The document number is confirmed, but it belongs not to Silver FX but to another company, VITA PAVILION 2 LIMITED, specializing in real estate and not brokerage activities.
Silver FX is not found in the registry of the British regulator FCA. Reviews on independent forums indicate the risks of dealing with an illegitimate broker, such as fund loss and lack of legal protection.
Also, on their website’s homepage, there is a mention of an old project, Avalon, which has many negative reviews. This confirms the company’s dishonest practices.
Trading Opportunities
Silver FX offers access to over 280 trading instruments. They use the trading terminal UTIP, which has a questionable reputation due to its use by scammers.
- Minimum entry threshold – $150, maximum deposit – 10,000,000 rubles.
- Refer-a-Friend program allowing to earn up to $1,000 per referral.
- Withdrawal within 15 minutes, but the company does not specify available withdrawal methods and commission fees.
- Insurance 2.0 covering up to 85% of the deposit amount.
Client Reviews
Given Silver FX’s recent activity, real client reviews are absent. Positive reviews on their platform should be viewed critically as they may be created by the company’s experienced copywriters.
If you have personal experience working with this company, please leave your review. Such reviews are important for forming an objective opinion.
Scammer Practices
Silver FX sets a low entry threshold to attract newcomers. However, caution is advised as scammers may give false recommendations to deceive. Contacting the company in case of withdrawal issues may be challenging.
Scammers may attempt to deceive clients not only through financial schemes but also by posing as chargeback service representatives and promising money refunds for an additional fee. It is important to be vigilant and not fall for such tricks.
Overall Assessment
Upon review, it is evident that Silver FX is an unscrupulous intermediary seeking to deceive its clients. Their actions border on fraud, and anonymity and dishonesty are key characteristics of the company. It is important to be cautious and not trust the false promises of this broker.
