fXFINANCE Review: Why are there negative reviews about this forex broker
fxBOSSINESS: general information overview
fxBOSSINESS – a forex organization that offers access to 120 financial instruments from 4 groups: currency pairs, indices, commodities, CFDs on stocks. According to various reviews and data online, the domain was registered in 2013, although mentions of the company appeared as early as 2010.
Main information about fxBOSSINESS
Search for precise information about the registration of the forex broker is not successful. There is speculation that the organization is based in the Marshall Islands, but this is unconfirmed. Also unavailable are data on:
- the company issuing the license,
- the presence and number of the license,
- audits conducted for operations in different countries.
At the beginning of its operations, fxBOSSINESS targeted clients from the CIS countries. The website has two language versions – English and Russian. However, no documents are provided for operations in these regions, and there are no physical offices.
In 2015, a conflict arose with a company providing an economic calendar on the website. fxBOSSINESS stopped paying for the tool but continued to use it without interruption. This practice continues to this day.
Types of accounts
fxBOSSINESS offers 3 types of accounts, complete descriptions are available after the registration process. To register, you need to complete a form indicating:
- user’s last name and first name,
- client’s date of birth,
- full residential address with country,
- personal phone number,
- email address,
- password for the account.
After passing verification, the user gains access to a personal account where they can choose one of the account types. Full understanding of the terms requires contacting customer support.
Methods of funding and withdrawal
Trading requires account funding, and several methods are provided for this:
- Visa/MasterCard bank cards,
- electronic payment systems and wallets,
- bank transfers.
Funds can be withdrawn to bank cards, QIWI, Yandex.Money, WebMoney wallets. The commission and withdrawal time depend on the chosen method.
fxBOSSINESS has gathered numerous reviews during its operation, mostly negative. Users express complaints regarding customer support, quotes, and operation delays.
Referral programs
fxBOSSINESS actively uses partnership programs to attract new clients. Three types of partnerships are available:
- for introducing brokers,
- for business development,
- White Label for companies with their client base.
Trading terminal
fxBOSSINESS uses the MetaTrader 4 trading platform. Users note its user-friendly interface, variety of functions, and ability to install on different devices.
Advantages and disadvantages
fxBOSSINESS has its pros and cons:
- low initial deposit,
- access to ECN account,
- free analytics,
- popular trading platform MetaTrader 4,
- educational materials,
- availability of demo account and support in Russian.
Among the drawbacks are the lack of information on licenses, office, limited asset choices, and high commissions.
Author: Evgeny Murovany
Read also: Broker CT-TRADE: detailed review, trading conditions, user reviews, is it worth investing.
FXFINANCE offers a variety of financial services and tools, but it does seem to garner some negative feedback, potentially warranting further investigation into customer satisfaction levels.
While FXFINANCE offers a variety of trading tools and options, there has been some negative feedback regarding their customer service and execution speed.