Updated on April 8, 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 FXBreeze due to the issues we've identified.
Is FXBreeze Scam or Legit Broker? ▲
Upon conducting an extensive review, it has come to our attention that FXBreeze raises significant concerns regarding its legitimacy as a Forex broker. The critical issue lies in its lack of regulation by any globally recognized Forex regulatory authority. This absence of oversight means that FXBreeze has not been subjected to any form of compliance checks prior to its establishment, is not monitored for operational safety, and is essentially free to conduct its business without any form of legal accountability.
Registered in: Estonia
Type of License: None
Is FXBreeze safe to trade: No
Recommended Licenses: The Financial Conduct Authority (FCA) in the UK & the Australian Securities and Investments Commission (ASIC) in Australia
Originating in Estonia, FXBreeze presents itself as a financial investment firm with a proclaimed presence in the UK. The broker promotes its trading solutions across various instruments, including FX, Derivatives, and Cryptocurrencies, facilitated through what is described as a powerful and user-friendly trading platform. At first glance, the offerings appear competitive, bolstered by customer support that promises positive outcomes and multilingual assistance, seemingly targeting international traders across various jurisdictions. However, the glaring issue with FXBreeze is its complete lack of regulation. Without legal authorization or oversight from any regulatory authority, the promises and purported advanced trading capabilities of FXBreeze are overshadowed by the risk of potential fund misappropriation—a risk all too common with unregulated entities. This fundamental flaw underscores the importance of opting for regulated Forex brokers, which adhere to stringent investment firm rules, offer customer protection tools, and are backed by compensation schemes to protect against company insolvency.
Claims of a broad offering of trading instruments.
Promises of a userfriendly trading platform.
Multilingual customer support.
Absence of regulation and oversight.
Risk of fund misappropriation.
Unclear trading conditions and lack of transparency.
Inactive website, indicating potential discontinuation of operations.
No coverage by compensation schemes in case of insolvency.
In conclusion, based on our thorough evaluation, we strongly advise investors and traders to steer clear of FXBreeze and other unregulated brokers. The evident lack of regulatory information, ambiguous trading conditions, and obscure contact details are significant red flags indicating a high risk of investment scams. Traders are urged to place their trust in brokers that are well-regulated by reputable authorities such as the FCA in the UK or ASIC in Australia. Remember, the allure of seemingly competitive offerings should never overshadow the critical importance of trading with a regulated and transparent broker.
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.
FXBreeze Review 2024
