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FoxicaTrading is a company that seems confused about its name. The company strangely calls itself SmartCryptoFx in some sections of its website. We do not know why a company would want to use another firm’s name. Even worse, these people are using another shady company’s name.
Even more, this is not the worst thing about this company The founders are presenting false regulation information to make you trust them. It does not get any worse than that. Any person that lies about such important information is a scammer. They cannot deliver the professional services you are looking for.
Moreover, this company is very new. It is still learning the ins and outs of the market. Such companies always lag behind better-established firms. You are better off waiting them out before you invest your hard-earned money.
Luckily, there are plenty of professional forex brokers with regulations. You will never regret investing in companies with proven track records.
FoxicaTrading wants you to invest your money on a weekly or monthly subscription basis. For this, they promise the best trading environment in the world. Additionally, they promise clients access to more than 100 assets. However, this is just a marketing strategy. The company wants you to believe that you can spread your risk of investment across various markets. This is a big lie and just a marketing strategy.
Furthermore, there is no real trading platform to execute trades. A forex broker without a trading platform is a scam. Worse is that this company promises clients an MT5 platform. Therefore, clients come expecting the best but find nothing.
Another red flag about this company is that they provide trading education. Despite this, there is no introduction to their professional traders. We do not know who they are or what their trading history looks like. Taking investment advice from such individuals is a bad idea. You will end up in the muds.
Moreover, that is not how professionals operate. Additionally, professionals will never use another company’s name. These people are armatures who cannot even get their act together. There is no way they will provide you with professional services.
FoxicaTrading offers a variety of trading accounts depending on the subscription model a client prefers. For example, you can choose between the weekly and monthly models. Further, both the weekly and monthly models have various plans within them.
Each of the plans this company offers comes with a deposit bonus. Of course, this is only there to attract customers. Further, the trading conditions are not far from standard. The spreads go all the way up to 1.9 pips. On top of that, the maximum leverage is 1:200. Still, the leverage is a little higher. It increases the risk clients face in the market.
Either way, the trading conditions do not matter. After all, there is no real trading platform. There is no need to invest if you cannot execute trades. You must ask yourself what the company plans to do with your money.
According to the website, this company is regulated by the MFSA. In fact, the company claims that the regulation spans back 7 years. We can already tell that this is a lie. The company has only been around for three months. We do not know who this company is trying to fool. Their date of formation is easily accessible on Whois.com.
Furthermore, the company claims that the MFSA is a US regulator. We all know that this is a lie. This regulatory body oversees companies in Malta. Finally, we checked MFSA records just to confirm that these people are liars. What we found was a warning from the MFSA. The MFSA warning proves to us that this is an illegal operation.
You should never invest in an unregulated company. Such firms are illegal in most jurisdictions. Eventually, the founders will exit the market with investor funds. You will never hear from them again. For your own good, ignore this company. Nothing good can come from it.
It is very common for fraudulent operations to hide the identities of the founders. Consequently, we are not surprised that FoxicaTrading does the same. There is no mention of the founders nor the staff on foxicatrading.com. Additionally, the company does not have a social media presence. Clearly, these people do not want to be in the eye of the public.
Only scammers see the need to hide their faces. It is the same as a bank robber wearing a mask. These people do not have your best interest at heart. As such, they are hiding their identities so that the law does not track them down.
Furthermore, their location is a mystery. They claim to have regulations in the US by a Malta regulator. Additionally, they provide a UK phone number. Further, the map that supposedly shows their location is the map of Malta. Their location is a huge mystery.
Therefore, it will be impossible to track these people down in case of an emergency. You will not know who to report or where they operate from.
No, FoxicaTrading cannot provide you with funds’ safety. The company does not have a regulator overseeing its activities. Worse, they are on the MFSA’s warning list. This makes them an illegal operation with no merits. Such a company cannot assure you of your funds’ safety. They do not have the liquidity to protect you from loss of funds.
Additionally, they do not have segregated accounts in a Tier-1 bank. As such, your money is not safe from the Bank’s financial status. Moreover, there is no mention of systems’ protection here. We do not know the software or hardware the company uses to secure its systems. Any money you deposit here may fall into the hands of hackers.
Furthermore, even your information is not secure. The Browser already warns us that we do not have a secure connection to this website. This is a terrible company that is not worth an investment.
This website went live on the 24th of January 2021. Its registration expires on the same date one year later. Short life expectancies are common in fraudulent operations. They take out short registrations for a reason. They exit the market as soon as the registration expires.
We do not expect these people to stick around for long. They are only here to steal people’s funds and disappear. Furthermore, customers are already complaining to have lost their funds. An individual by the name of Melissa Crow claims they lost over $107,000. Run while you still can.
This company is already on a regulator’s warning list. They are lying about their regulatory license to look legit. Moreover, they are claiming to have been in the market for a long time. In reality, they have only been in operation for about three months.
These are huge red flags. Such companies do not deserve your investment. Furthermore, these people do not have transparency nor professionalism. They are hiding their identities and location. No professional sees the need to do this.
For your own good, stick with regulated forex brokers with proven track records. Only such companies can help protect your funds. They have the trust of millions of investors because of their professionalism.
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