FXBrew (Fxbrew.com) is another CFD and Forex scam broker to hit the forex world. According to its website, FX Brew promises users of simplicity and transparency when trading. They claim to have a simplicity of design with the versatility of trading options. Due to the complaints we received over the last few weeks, we decided to investigate FXBrew. Read this honest and eye-catching review to find out the truth about this SCAM broker.
According to their homepage, FX Brew provides traders with access to trade forex, indices, commodities and cryptocurrencies. They are using the MetaTrader4 platform which is understandable in this day and time. The question we have is this, is it a working MetaTrader4 platform? We ask this because they claim their platform is sophisticated enough. Why would they have a platform which is sophisticated to traders?
Claims of having the best features can be easily seen on their homepage. They claim that these features will fully satisfy the demands of accomplished traders. It simply means, if you are a Forex trading newbie, this platform is not for you. As they have clearly said, it’s a complicated platform preserved for only accomplished traders.
FXBrew also claims to have a MetaTrader5 platform. They claim that this platform comes with superlative features and tools. This platform apparently allows members to access multiple features in one platform. All of these platforms can be easily downloaded using mobile, desktop and all android devices. As we move along the review, we will prove that this is not the case. These two platforms don’t work as they claim they do.
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FXBrew claims to have an all-in-one calculator. They claim that this calculator allows users to make a wide range of important calculations. These calculations will help facilitate and enhance your trading experience. How this calculator does this still remains a mystery. One claim they boldly make is that this calculator uses the latest rates to carry out calculations. These calculations are from a wide range of currency pairs across the globe.
All members have to do is enter the currency pair, account currency, leverage and position size. Once members do this, the forex calculator will do the rest for them. Another notable lie they include is that their calculator also calculates margins and profits. Folks, these are all lies meant to entice you into joining this forex broker scam. You should make sure you don’t fall for this Forex scam at any time. They don’t actually show us how this calculator works.
FX Brew has three account types on offer. ECN, Micro, and VIP account. According to the homepage, the ECN account gives users access to some of the lowest spreads. What’s more is that they claim to have a very small almost negligible commission rate. ECN apparently allows users to trade on institutional grade liquidity. This liquidity comes from the world’s largest banks, dark pool venues, and market makers.
The Micro account on the other hand helps novice account holders to start with small volumes of trading. Members are enticed to open an account with a lower initial deposit. Members are also allowed to make smaller trades as well. VIP account on the other hand gives users a wide range of exclusive features. Claims of engaging with one on one conversations with your representative can be seen. You are also given the option of having an account’s manager.
We immediately noticed that the demo account was rigged to your favor. Yes, almost all of the demo accounts we opened made successful trades. We even made bogus trades and still the platform gave us winning trades. This is a ploy scammers are using to entice you to believe trading is that easy. Trading Forex is not as easy as they claim.
We also noted that the demo account could not give access to some trading commodities. Access was restricted to some trading instruments making us question their intention. Why would they block access to a trading instrument such as cryptocurrency? What is that is what a member wants to trade with. Simply put, we cannot trust FXBrew with their demo account. This also makes it hard for us to trust their live account.
FXBrew claims to be dedicated to providing security and safety of funds. If this was the case, there wouldn’t be a lot of people claiming to have lost money with FXBrew. Claims of housing segregated funds for customers are lies. We also noticed that FXBrew is registered with FSA of St. Vincent. This means that we are dealing with an offshore broker. Offshore brokers are notoriously known for not following strict industry rules and guidelines.
Get a Forex Broker who is trusted by the Forex trading community. This is the only way you can be sure your money is safe. Trusted and tested Forex brokers ensure your money is safe thus, members trade comfortably. You also stand a chance of making real money trading Forex. Always remember to use reputable Forex brokers when trading Forex.
FXBrew is claiming to protect all members from a negative balance. They claim that no matter how volatile and unpredictable the market is, you will always be protected. According to their website, members will not be held responsible for paying back a negative balance. Folks, this is a lie since no member who has lost money has been compensated by FXBrew. All this is theatrics to make sure you believe this broker and sign up with them.
Claims of always assessing risks related to their policies are also not true. They claim that due to the numerous risks involved in Forex trading, they are able to take remedial measures. Problem with this statement is that we couldn’t get any member who has taken advantage of this. Does this mean all members using FX Brew make successful trades only? This is why we are sure FXBrew is a scam.
FXBrew claims to have a partnership program that is based on individuals and organizations. Once you get a new client to sign up, you will receive a commission of over 60%. This means that of all the net spreads of volume traded, 60% is yours. This is a bit too much even if its free. It means you are safe getting people to sign up that trade with FXBrew.
Claims of account manager support are also lies. We were contacted by one of the so-called account managers only to trace their call to a call center in India. This is why trusting FX Brew becomes hard for us.
FXBrew is without a doubt a scam. With a lot of empty promises and no evidence to back it up, we are dealing with a scam. No one has come out to claim to have made money with FX Brew. All we get is thousands of people claiming to have lost all their initial deposit with this Forex broker.
Evidence produced clearly points out to the fact that we are dealing with a scam. We urge all our readers to avoid this Forex broker and all promotional messages.
Best and most successful trading practices involve the use of trusted and tested Forex brokers. This is the only way to make real profits when trading Forex. These brokers have been vetted and regulated to ensure they follow all set rules and guidelines. Get yourself one today and see your fortunes change for the better.
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