FoxNewsTrade: reviews and terms of cooperation
FoxNewsTrade: reliability assessment and suspicions
The brokerage company FoxNewsTrade offers its clients the opportunity to trade on financial markets. On its website, the company promises the best conditions for novice traders, such as free education, no commissions, and leverage. However, the lack of customer feedback and objective reviews raises suspicions regarding the honesty and trustworthiness of this company.
Information about FoxNewsTrade
It is important to note that the FoxNewsTrade website features a Russian version and a section with legal information. Despite this, the site’s appearance and functionality do not look very professional. Domain age verification showed that the resource was created recently, and information about owners and company registration is hidden. Claims of having offices in 200 countries are not substantiated, casting doubt on the company’s honesty.
Additionally, there are insufficient contact details, and the company does not provide access to social networks. Considering these facts, it can be assumed that FoxNewsTrade is an unreliable broker.
Supervision of FoxNewsTrade’s activities
The company, registered in offshore islands, does not hold a license for brokerage activities. The rejection by the state regulator FSA to license such companies indicates that FoxNewsTrade lacks official status and control.
The lack of support from regulators overseeing brokerage activities indicates the unreliability of the company and risks for clients. The best confirmation of a broker’s honesty and legality of operations remains having a license from the local regulator.
Trading conditions and accounts in FoxNewsTrade
The company offers various types of accounts, from a demo account to a VIP account. However, unclear information about trading conditions, complicated withdrawal procedures, and the absence of positive reviews give grounds to doubt the broker’s honesty.
Reviews and client scam model
The lack of reviews and feedback about FoxNewsTrade indicates its low visibility and questionable reputation. Scammers are likely targeting newbies and inexperienced traders, promising easy ways to earn money and market manipulations.
Unclear trading conditions, difficulties with fund withdrawals, and unjustified additional payments indicate the unreliability and low transparency of the company.
Why to be cautious with FoxNewsTrade?
An analysis of state registers and information about licensed brokers shows that FoxNewsTrade is a fake broker without the necessary approvals. The company does not provide reliable information and creates a risk for those who decide to cooperate with it.