Updated on March 22, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding EvisionFX due to the issues we've identified.
Is EvisionFX Scam or Legit Broker? ▲
Engaging with EvisionFX for Forex trading activities is deemed unsafe. Owned by the EvisionFX Group, the broker purports to have operational bases in Canada, New Zealand, and the United Kingdom. Upon thorough investigation, it has been determined that there is a lack of authorization or registration for the stated addresses, casting a shadow of doubt on the company's legitimacy. This discrepancy points to the possibility that EvisionFX could be operating its services from a completely different, undisclosed location.
EvisionFX positions itself as a leading entity within the trading market, offering a suite of trading services encompassing a variety of assets such as commodities, stocks, currencies, and indices. The EvisionFX Group claims to be a conglomerate overseeing several subsidiaries, including Capital.V Ltd, regulated by the Claims Management Regulator in the UK, A.C.F Ltd., overseen by the Investment Industry Regulatory Organization of Canada, and Morgan.S.F.S Ltd., under the regulation of the Financial Markets Authority of New Zealand. However, it's crucial to note that the aforementioned authorities do not oversee Forex broker licenses nor are they recognized as regulatory bodies for such purposes. This discrepancy suggests that the regulatory claims made by EvisionFX are misleading and not reflective of actual regulatory adherence. Furthermore, the broker also mentions having additional offices in Germany, the Netherlands, and Australia but fails to provide any evidence of regulation by the local authorities in these regions.
It is our strong recommendation that investors and traders steer clear of EvisionFX and other brokers lacking regulatory oversight. The absence of transparent information regarding the broker’s regulatory status, trading conditions, and contact details serves as a significant warning sign. Typically, entities that withhold such critical information are involved in investment scams. Traders are encouraged to opt for brokers that are properly regulated, such as those in the UK or Australia.
EvisionFX Update
It has come to our attention that the EvisionFX website is currently inactive and inaccessible, indicating that the broker has ceased its trading offerings and is no longer opening accounts. Despite this development, we urge traders to remain vigilant and exercise caution, should they encounter any trading proposals from this entity.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
EvisionFX Review 2024
