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FXGate Review: Fxgate.com Awful Forex Scam

FXGate Review: Fxgate.com Awful Forex Scam

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FXGate (Fxgate.com) is a cruel CFDs and Forex scam broker stealing from anyone who signs up. FX Gate is claiming to be based in Malaysia which we highly doubt. After receiving numerous email complaints from users who used this broker, we decided to investigate. And this is where we found disturbing issues with this broker. Read this detailed and honest FXGATE Review. This broker has been finally convicted for fraud.

FXGate Review

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FXGate Review:

With claims this broker is licensed by the LBFC, most traders would easily believe them. Why would they not simply check with the regulatory bodies? Scammers know for a fact we all want to make an extra buck or two with Forex trading. What they do is post fake claims and promises to attract online investors. After all, they know they won’t be investigated by these investors. Luckily, we do our thorough research in order to protect our readers from such scam brokers.

These scam artists have created a compelling website which easily entices the eye. It’s no wonder so many investors have fallen for this platform. At first glance, one would easily sign up without having second thoughts. Sadly, this would prove to be a costly mistake as this is a scam website cloning Forex trading services. Stay away from this broker as they have malice up their sleeves. Continue reading this review to find our more regarding the tricks used by FXGATE.

About FXGate

This broker claims to be located in Malaysia. Reading the disclaimer at the footer of their homepage, they don’t offer Forex services to Malaysians. Isn’t this weird? How can a broker be based in a country where they don’t offer Forex services? Who are the founding members of this website? According to their about us page, this brokerage was created by a global connection of traders. Isn’t this throwing people off? Why can’t they give us the exact names of these founders?

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Another disturbing feature with this broker is how well they have hidden their whereabouts. Claims they are based in Malaysia are lies as this broker is an anonymous broker. Chances are this broker is based in the Pacific which makes them offshore based brokers. Offshore brokers are not to be trusted with any deposits. They tend to close shop at their own time without issuing members any warning. FXGate is an offshore based broker who should be ignored by all investors.

FXGate License and Regulation

This company claims to be licensed and registered by the Labuan Financial Commission. This is the regulatory body which regulated brokers from Asia. A look at their main website reveals no results were found when it comes to their licensing. Just as we suspected, this is another broker who is stealing funds from investors. They are using fake claims to try and show authenticity. Stay away from FX Gate.

FXGate Broker Review

If they had any regulatory license, why don’t the search results show FX Gate? These documents they print on their website are posted and edited as PDFs. Why don’t they have any official logo of LBFC? This is another proof we are dealing with a rogue Forex broker. Stay clear from this broker and sign up with industry licensed brokers. FX Gate is using fake registration details to entice investors into signing up.

Demo Account

One of the main disturbing features with this broker is how they have rigged their demo account. Once investors sign up with the demo account, trades are over 98% successful. Even a newbie trader who doesn’t have a clue about trading makes high profit margins. This is simply a sales tactic to entice users into signing up with the product. Remember, funds in demo account are virtual and not real.

When investors see they are making insane profit margins, they go ahead and open a real account. FXGate will insist you deposit a huge chunk so as to rip huge profit margins.  All members have lost their first deposit and this broker insists you deposit more. This goes without saying FXGate is operating like a pyramid scheme, watch out!

FXGate Forex Review

Account Funding

What these scam artists have done is ensure users have all channels available for depositing funds. Investors can fund these accounts with UnionPay, Visa, MasterCard, WebMoney, Skrill, and others. Stay away from this broker as they simply want all depository avenues covered. Problem with this broker is not depositing funds, its withdrawing funds. Depositing funds takes less than five minutes which is what they are after. To have a quick way of filling their pockets with cash deposited.

Whoever signs up with FXGate should expect no way of ever getting their money. And this is why we are up in arms against this broker. Make sure to stay away from this broker and sign up with industry backed Forex brokers. With approved and tested Forex tools, your funds are always safe. Make a point of signing up with genuine and trusted Forex trading tools the industry recommends.

Can Funds be safe with FXGate?

How can funds be safe with a broker who refuses to allow withdrawals? Since they are using one account for trading, it makes segregation of accounts impossible. Pooling funds in one account is dangerous and is against set industry laws and rules.

Is it true this broker is using their own personal account as the main depository account? Which banking institution do they use to bank money deposited by users? And why don’t they insure funds being deposited by users as it ought to be? Stay away from any platform which fails to secure funds. This is a must for all brokers.

Is FXGate a Scam?

Without a question of doubt, this is an offshore brokerage site which is a total scam. When you get a call from their agents, don’t give them your personal details. FXGate is simply a scam brokerage site which wants to steal your money. Sooner or later, this broker will have their pockets full and will close shop without warning.

FXGate Bottom Line

FXGate Forex Broke Review

In order to protect our readers from this scam, we have to add FXGate to our scam blacklist. This will make sure they will know what to expect with this broker when signing up. Warn your acquaintances from signing up with this or any other broker who shares same traits. Always be alert from brokers who use fake registration details to offer Forex services. You now know the tricks used by this broker. Stay away from FXGate today!

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13 Replies to “FXGate Review: Fxgate.com Awful Forex Scam”

  1. Hi,
    Company is regulated by Labuan financial services, Please check the below link to ensure.
    labuanibfc.com/areas-of-business/financial-services/money-broking/list-of-money-brokers

  2. Fast withdrawals and various ways to deposit. Company is registered and regulated by LFSA in Malaysia and owning a rep. office in Dubai(under Dubai Economic Development) Boulevard Plaza Tower 1 opposite to Burj Khalifa.

  3. I have very good experience with FXGATE, their service is excellent and have different methods to deposit. Company is registered and well known. Very fast with withdrawals. They are not scamming company it’s a real genuine company.

  4. Fast withdrawals and various ways to deposit. Company is registered and regulated by LFSA in Malaysia and owning a rep. office in Dubai where they have the DED trade license ,their office is situated in the most luxurious area in Dubai , Boulevard Plaza Tower 1 opposite to Burj Khalifa.

  5. Few days ago, i was wondering on the internet and i find this company FXGATE, then i opened an account with them, i completed the registration and verification process after sipping 1 gla** of water i received an email coming from this company that i got approved and now has an active account with them, i just stood up to get another gla** of water then my phone rings, and i picked up the call, it was a guy from FXGATE, i spoke to him, he is so nice, he told me anything that he could help i can contact him anytime, anywhere. then he told me that for them to activate the MT4 account i need to fund it, i created a standard account with them and he told me i just need $100 for me start trading, then i pick up my wallet and took my card and do the deposit process via VisaCard procedure, after that he told me it will take 1 day before they received the fund once they received it they will credit it to my MT4 and we ended the call, then i went to the kitchen had lunch and watch some stuff, after few hours, i received an email from them again, and the FUND was credited, i checked the time it was only after few hours, and i received a phone call again from the same guy, he told and ask me do i know how to trade and how to make profit, i said no, he told me i will give you now 1 on 1 training and promise me a daily technical a***ysis coming from there professional traders, and after 1 long hours we ended the call with 8.50$ profit from that training only, i tried to open position from my own self, didn’t realized after 3 days i already made 24$ profit by using there trading signals, and then i think about adding more capital because i know if i have more equity i can profit more, then i decided to use wire transfer instead because i am planning to add $1000, then i did the wire transfer and it only took less than half day before it arrives and credit to my account, it has been 1 week of trading, sunny day of tuesday i thought about withdrawing the profit money, i opened my fxgate client portal which is very unique and very nice, i requested for deposit of 400$ via wire transfer again, and after less than 1 whole day again, i received the money, i tried to investigate how come this company is very fast on everything, i found out that they are regulated under LFSA and having offices in more than 5 locations around the globe which makes justify that they have this fast transaction and user friendly system because they are reputable trading company, as of now i am continuously trading with them, i just wrote this comment just to make sure everyone knows my positive experience from FXGate.

  6. FXGate is one of the reliable brokers in the financial market. The staff is very friendly and always willing to provide you desired information and discuss the over all market momvements. I have been trading with FXGate since last couple of months so far so good with fast execution, friendly platforms, fast deposits and withdrawals; and most importantly excellent and smooth customer support.

    Regular updates by FXGate shows that they are continously improving their products and services with a very good pace.

    Overall I’m very satisfied with my experience with FXGate and would recommend to anyone who is looking for a trustworthy broker.

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