Review of the company FxProXpert: hidden pitfalls behind the best promises
Scammers often hide behind the names of well-known organizations in the hope of users’ trust. One of these “fake” brokers is FxProXpert. Let’s talk more about their activities.
Main data about FxProXpert
FxProXpert mysteriously promises clients “the best trading conditions in Forex”. According to the company’s information, FxProXpert positions itself as a combination of two divisions:
- FxPro – a well-known broker providing services since 2006,
- FxBroker – a company offering services to regular investors since 2002.
However, there is no confirmation of a connection between FxProXpert and the real broker FxPro. According to user reviews, when problems arise with money, contacting the regulator and the company’s office does not lead to a result, as FxProXpert turns out to be scammers.
It is likely that this is indeed the case. The website fxproxpert.com started operating in July 2023. This is a new project bearing signs of dishonesty. The emerging reviews, all without exception, carry a negative character.
Communication problems are also inevitable. Apparently, scammers have no intention of solving customer problems. The website lacks a phone number and email. Customers are left alone with their difficulties. Reviews from former clients confirm that scammers only communicate until it benefits them.
Official documentation
FxProXpert claims to operate legally. However, there is no scan of the registration certificate and license on the platform. In the “About us” section, the company provides a license number, which, according to claims, was issued in the Bahamas. This is a real document, but it was issued not by FxProXpert, but by FxPro.
It should be noted that FxPro has licenses in other jurisdictions (Mauritius, Cyprus, UK). However, for FxProXpert customers, this does not matter as they have encountered a fraudulent platform.
Relying on an illegitimate broker deprives you of protection from regulators. The only hope for a refund can be a chargeback service, but it is important to choose carefully to avoid falling victim to fraud.
Cooperation terms
FxProXpert copied trading conditions from FxPro. The website lacks a detailed description of trading plans, but the following is known:
- minimum deposit – $100,
- 10 trading platforms to choose from,
- technical analysis for informed decisions,
- opportunities for hedging and margin trading with leverage up to 1:500,
- low fractional spreads,
- demo account for risk-free practice,
- no additional fees,
- current quotes,
- wide range of payment methods (bank transfers, cards, electronic systems Webmoney, Skrill, Neteller),
- over 70 major currencies for trading in Forex.
In comments, users note that the fraudulent broker skillfully emulates the trading process. However, scammers disappear when funds are withdrawn.
Reviews and recommendations
Customer reviews indicate that scammers forcibly offer trading advice to quickly extract others’ funds. They deny refunds without explanation, not even allowing the return of initial investments.
Do you have your own stories about FxProXpert? Share them and your experience with colleagues. Warn others about potential risks.
Deception mechanism
FxProXpert individually scams each client. Reviews suggest that minimum losses can exceed $100. Scammers assign each trader their agent who provides fake advice and engages in financial extortion. Additionally, fraudsters may offer to install software for remote access to clear the client’s account. Proving the fraud will be difficult, as voluntarily giving access to your personal account to scammers.
Conclusion
FxProXpert is a typical fraudster, tarnishing the name of a real broker and abusing others’ data. It is not worth registering on this platform and investing your finances. Otherwise, you risk being left without money.
