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FXBreeze Review: Is FXBreeze.com Scam or Legit?

FXBreeze Review: Is FXBreeze.com Scam or Legit?

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FXBreeze.com is a Forex and CFDs broker offering their financial instruments on a web based trading platform and also on the popular MT4 platform. Upon carefully investigating the broker, we realize that FXBreeze is offering 1 type of account with fixed spreads and high leverage. Already we have given this website a poor rating and if you want to know why, you should read this review to understand the reasons why we don’t trust this broker.

As always, every broker has their pros and cons and FXBreeze is no exception. And in as much as we don’t trust them, there are a few positives about this broker. These including the trade able instruments and the fact that they offer MT4 platform for trading which most traders prefer over other trading platforms. MT4 platform is popular for a good reason. It provides a full range of trading tools and features such as great charting experience, compatibility with numerous trading indicators and expert advisors and a good back testing environment which can be described as impressive. In addition to this, it lets traders work with their own custom made indicators and trading software.

FXBreeze

You might want to believe that this would be a reason why someone would chose FXBreeze over another broker. Remember that 80% of Forex brokers support MT4 trading platform and so it is not a reason why FXBreeze would look attractive to someone looking for the best brokers to trade with. Having said this, we can lead you to the right page where you will find decent Forex brokers who are regulated and ethical. If you want to sign up, please visit this page.

FXBreeze Review

FXBreeze prides itself for offering a wide range of product portfolio for trading. They offer a wide range of currency pairs and CFDs. They also support a number of popular Crypto currencies like Bitcoin, Ethereum, Ripple, Litecoin and so much more. This would be a supposed advantage apart from the fact that they support MT4 trading platform. And of course they also have attractive leverage of up to 1:500. Whereas high leverage is a controversial topic, it is still very essential if we want to trade effectively. We think that leverage that is this high is quite convenient for all styles of trading and depending on how you trade, you might want to choose a lower leverage but the maximum is 1:500.

We generally prefer brokers who are flexible in terms of leverage because this way, they accommodate all kinds of trading styles. But this does not mean that we can give priority to brokers who are unregulated even if they are offering such high leverage for trading.

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There is a regulatory warning against FXBreeze

Ten Barosh OU is the mother company behind FXBreeze Forex broker. This company is based in Estonia but is neither registered nor regulated by the Estonian Financial Supervision Authority. Furthermore, this financial regulator recently warned the public that this company through its brokers was not allowed to provide any form of financial services to residents of Estonia. The financial regulator has also pointed out that this company has another website by the name cryptatrade.com which is also not allowed to provide any form of financial service to residents of Estonia.

Now, depending on how you see it, you might just conclude that this is a potentially high risk brokerage and dealing with such a broker would place you in a situation where you will most likely lose your funds. That is our stand as well. If you trade with a broker who has been warned by their local financial regulator, chances are that this broker is dubious and has been involved or is likely to get involved in scam activities.

Abnormal fixed spreads

FXBreeze has very unfriendly cost of trading as their fixed spreads are very high. This is a disadvantage which would push you even further away since there are very many regulated brokers who are not too greedy to cash on you. There is no reason why you should pay more when you can get quality service elsewhere for less. Now, just to help you picture how high the cost of trading on this platform is, think about this: FXBreeze is offering 3 pips as fixed spreads for a pair like EURUSD.

Our experience has taught us that most brokers who offer fixed spreads don’t go beyond 2 pips for this currency pair and others even offer lower spreads for EURUSD. Therefore, when a broker offers 3 pips for this pair, it is like they are robbing you and there is no reason whatsoever why you should choose this broker for your trading.

And there is also no demo for trading on the MT4 platform. This is a red flag. It shows the evil nature of this broker. Most traders start with a demo before they can transition to a live account. Very few traders will ever start with a live account right away. So by telling us that they can’t offer a demo, it simply means they want us to deposit our money so they can snatch it right away.

To us, this is a red flag. It shows that FXBreeze is not mindful of its traders and only wants to cash in on their ignorance. For your information, you should never trade with a broker who can’t offer something as basic as a demo account.

Our best advice for you

The number one disturbing fact about this broker is that they are not regulated in their country of origin. Besides this, the cost of trading with FXBreeze is very high. There is no valid reason why you should pay more when regulated and professional brokers offer trading on their platform for much less. And of course you should have reasons to worry when a broker tells you they are not offering a demo. They are possibly hiding something. To get started with your trading with any glitches, we implore you to sign up with these brokers. Your life will be much easier.

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