eDeal FX Review: Edealfx.com Untrustworthy Broker

eDeal FX is a company branding itself as a powerful broker. Their interface is allegedly easy to use. The firm claims it can execute over 99% successful trades in 1 second. The company's trading platform is allegedly superior, allowing investors to yield high returns. 

Further, the entity state fund safety is their top priority. The broker allegedly takes the matter seriously. They have an SSL certificate. However, this document cannot protect you from scammers. You are giving anonymous people your risky data. The scheme can decide to sell the info to criminals.

eDeal FX claims it has an effective strategy to safeguard clients' funds. The company is working with reputable financial institutions to safeguard investors' funds. Sadly, the venture is not genuine. They do not disclose which top-tier bank it works with. Therefore, we can conclude there is no segregation of funds in the scheme. 

Due to bankruptcy, the platform can exit the market, and investors won’t receive any compensation. The venture is surrounded by uncertainty. The company also lacks a license. It would help if you refrained from dealing with such a shady entity to avoid losing funds. 

Edealfx.com Review

eDeal FX is allegedly supporting all the major currency pairs. They want investors to diversify their risks which is not a bad thing. The entity also has a referral program. You can earn a commission for inviting another person to the scheme. 

Sadly, this is a newly established entity without a trading history. Its sales pitch may make it appear as though the venture has the best interest of investors. The entity is mainly targeting novice traders. However, we do not see any professionalism in the scheme.

Trading is not easy, as the offshore schemes make it sound. To generate real team returns, you must have excellent trading skills. It takes time to perfect the skill. Even when you are using trading bots, it is impossible to know the market's direction. 

Doing thorough research on a company can save you from dealing with nasty entities. You will learn the in and out of the platform. You will also sleep soundly knowing the safety of your money is well taken care of. Here is a list of some of the reputable and regulated forex trading brokers in the market.  You can also view their performance on the website. 

Trading Conditions of eDeal FX

eDeal FX has five trading accounts. The available products include; forex, oil, and spot metals. The company assures clients it does not charge commission or swap fees. The venture claims it has the MT4 trading interface. You will receive trading signals and advance trading charts. 

The leverage can go up to 1:500. The limit opens the possibility of higher profits which is a great thing. However, you should note that trading has severe risks. You could as well lose everything in the blink of an eye. We recommend you refrain from accepting such limits if you are starting. You can start with the cap regulated by the regulatory bodies. 

Furthermore, in the USA, a company can only offer a cap of 1:50. This confirms the entity is not based in the country as it purports. The MetaTrader4 interface is flawless and efficient. It makes the experience of traders great. You will receive the trending news of the market. The interface has analysis tools, and you can get better results. 

The spreads of eDeal FX are undesirable. It ranges from 3.2 pips to 2.7 pips. The average market standard is 1.5 pips. Opening a trade in this entity is expensive. This is not a profitable entity, and you should refrain from doing business with the venture.  

Withdrawal and Deposits 

Opening an account with eDeal FX seems like a never-ending task. The entity requires clients to provide their employment status, phone number, tax number, and ID number. They want to know how you earn your income and your field of work. Identity theft is a serious offense. 

Furthermore, the enterprise fails to disclose the minimum amount investors must deposit to start trading. This explains why the offshore scheme is asking for all these questions. Once they access it, they will quote you if you have enough funds. They will promise ideal trading opportunities. Unfortunately, once you deposit funds in their system, forget about getting your cashback.

The payment option available is via cash which is new to us, and wire transfer. Regulated companies feature various methods for traders to deposit. eDeal FX offers clients bonuses. The lucrative opportunity is banned in the EU, Australia, and the UK. This is because investors must meet outrageous trade volumes. 

The scheme has legal documentation. Sadly, after reading it, the document leads us to the home page. Genuine platforms would never be reckless with such critical data. We are also in the dark regarding the minimum amount you can cash out.

Customer Support and Contact Details

eDeal FX claims its main focus is to offer quality customer support. They aim to have flawless services that don’t hinder investors from trading. Hence, whenever you experience any challenge, the company responds in time. The entity accepts both novice and expert traders. 

The venture displays office addresses of Hong Kong, Maldives, Australia, India, Qatar, and the USA. There are various phone numbers you can use to reach the support. Email support is also available. Almost all businesses establish common communication methods.

Unfortunately, when you deal with a bogus broker, it ends up blacklisting you. They will only be friendly and professional when they need more funds from you. eDeal FX is an offshore entity with numerous red flags. The possibility of the entity not having enough funds to hire a responsible team are high. 

Legit companies will even have social media pages whereby clients can engage with the professionals. Additionally, you will know the people handling your funds. Avoid sharing your information with discreet deceptive entities. 

Regulatory Status of eDeal FX

For an investment scheme to operate legally in the United States, it must have a capital of $20 million. Moreover, the information of the corporation managing the broker's activities should also be available. The scheme should operate in full transparency by disclosing the team's qualifications. 

The daily opening and closing trade data should also be availed to the financial watchdog. The country has stringent rules that help to protect consumers against fraudulent activities. eDeal FX claims it has a registration form from St Vincent and the Grenadines. The document does not serve any purpose, cheaply and easily acquired.

Additionally, this proves we are dealing with an offshore scheme. Traders are not protected against fund loss. 

Clients Reviews of eDeal FX

eDeal FX does not have clients' reviews, which is not a surprise. Who would risk giving access to their hard-earned money to such scammers? The platform is a losing entity. It would help if you refrained from engaging with them. 

Some scammers are tactical as they pay marketers to endorse their services. It will help if you are looking for proof of payment. Suppose there is no walk away from the entity while you still can. If you run a thorough background check on a broker, it won’t be able to trap you.

Final Verdict 

eDeal FX is an evil losing scheme. The broker is only after the funds of investors. They are operating illegally and provide no safety of funds. The venture is not licensed, and its actual location remains a mystery.

Invest with the best forex trading companies that adhere to the set rules of the financial bodies. The trading results of the entities are verified. You will sleep soundly knowing the safety of your funds is well taken care of. 

No, this is a venture that does not enough funds to hire a support

No, the entity is operating illegally.