OneFX Trade Review: Who Is Behind 1FXTrade.Com?
OneFX Trade is a UK-based broker that gives potential traders the opportunity to invest in Forex and CDF.
At the first glance, to someone who is new to this whole trading world, their website may look legit offering everything you need to have the best trading experience.
However, after taking a good look at their website we can safely say they miss quite a few things not just the license they claim to have.
Doing business with any company of this kind without any regulation puts your funds at great risk as they operate without any supervision.
In this candid OneFX Trade review we conducted, we tried to make clear how this kind of scam broker operates and what can you do to keep clear of investment scams of this type.
|Address||Kemp House 160 city road, London EC1V 2NX – UK.|
|Phone||+44 32310 01499|
Licensing and Security of OneFX Trade
After researching their website, we found that they allegedly offer fund safety claiming they’ve got direct access to prime banks all around the world. This is an immediate red flag as you can’t get any additional info on this so-called safety they’ve going to provide you with.
OneFX Trade also does not provide access to Terms and Conditions or any other documentation. Genuine brokers would never do this as it is mandatory for them to disclose a comprehensive set of legal documentation.
Before investing your hard-earned money with any broker, it is a must to make sure they have a proper license so you do not fall victim to one of many scammers lurking online.
Because this broker is allegedly operating from the UK, in order to be more than just a scam, they must follow certain guidelines set by FCA. It is not only that OneFX Trade broker does not have any license to provide but they’ve also been issued a warning by this financial authority.
Anyone who decides to deal with unregulated brokers like the OneFX Trade scam is taking a major risk with their money.
OneFX Trade Trading Platform Overview
As a part of executing this research, we took a good look at their trading platform to see what it can offer to potential traders.
To no one’s surprise, this legitimate-looking website has one sole purpose- to deceive some inexperienced users.
They allegedly offer MetaTrader5 for various platforms- Windows, Android, Mac, and iStore (that should actually be an app store in order for you to download it on your iPhone).
Nonetheless, after we clicked on the link for the download nothing happened.
MT5 is one of the best trading platforms in today’s trading world. It offers cutting-edge technology and many features and functions in order for a trader to have the best trading experience.
Many scam brokers offer various copies of this platform so they can trick as many traders as possible. We read many customer reviews and a lot of them had various complaints about the platform.
In conclusion, you will need to open an account on the OneFx Trade website and provide various personal information such as a copy of your ID, passport, or driver’s license to sign up.
If you are looking for a legit broker, we recommend you to look for MetaTrader4 or MetaTrader5 platforms you can actually see first and make sure they are authentic and not just a cheap copy made by some unscrupulous broker.
Deposits and Withdrawals Methods
We tried to find some mention of any OneFX Trade deposit or withdrawal policies but unfortunately, there are not any. This broker encourages you to first sign up and get your account verified and after that, you can make your first investment.
This is not that uncommon for dishonest scam brokers like this one. We went through many reviews to find as much as we can on this topic and concluded that many people stated many withdrawal issues regarding their invested funds.
Forex providers that are not trustworthy will always come up with various fees you must cover first before getting any money you allegedly earned by investing with them.
There are also alleged policies that you need to make a certain amount on your account before any withdrawal can be issued.
These are all of course just made-up stories to get you to either put more money in or give up on your funds altogether.
On the other hand, when it comes to deposits, scammers will urge you to make your payment in crypto. These transactions are often irreversible and getting your money back requires a lot of effort.
If you were to deposit with a card, let’s say Visa or Mastercard you can file for a chargeback and the transaction could be reversed within 540 days.
In case you have fallen victim to this scam there is no need to feel ashamed of it, these types of scams can happen to anyone. In case you had any negative experience with this or any other fraudulent broker, we encourage you to share it with us as we can assist you in this situation.
How Is Fraud Set Up?
Being lured by these scam brokers is not as hard as it may seem to some people. They post various ads all over the internet and you can easily come across a few.
The stories you can read in them are more or less believable but in the world where many actually made a fortune by investing it becomes quite convincing that easy earnings are within your reach.
If you just give a few simple personal information and later on sign up for their services this all will allegedly become a reality and there you go you will finally be completely financially independent.
Be sure, if you give any of your contacts to one of these scammers, they will start either emailing or calling you in order to get you to invest. In case you agree to make an initial investment, they will start persuading you to invest more and more.
You should always think twice before taking any risks while investing money so don’t trust anyone that is so desperate to make you invest with them.
And if you invested your money already don’t get discouraged as getting your money back is possible, just be sure to report this scam to the local authorities.
OneFX Trade Summary
In this OneFX Trade broker review, we tried to give you a thorough explanation of how this scam broker operates.
Most of the scams are operated in the same manner as there are no regulations these companies must follow. So, choosing to invest your money with any unlicensed broker will just result in you losing all your money.
Be cautious while browsing the internet and don’t leave any of your personal information on any sketchy website or ad. Always read reviews people make online as you will be able to find many complaints against the broker if they are just a scam.
This review was not conducted by any means to stop you from investing altogether. This just means that you should stay away from brokers that are too eager for you to start investing and have no actual license displayed on their website.
Once again if you had any negative experience with any fraudulent broker in the past, we would be grateful if you could share it with us as we can assist you by reporting your scammer to the right place.
FAQs About OneFX Trade Broker
Is OneFX Trade a Regulated Broker?
No, OneFX Trade is a non-regulated phony broker that is just trying to scam potential traders.
Is My Money Safe with OneFX Trade Broker?
Even though they claim to offer safety to your funds, it’s obvious there is no such service and therefore no security for your investment.
Does OneFX Trade Offer Demo Account?
No, they do not offer a demo account so you will need to sign up and get your account verified before making a deposit.