TradeFXHub Review Is tradefxhub.com Legit Or Scam

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TradeFXHub Review: Is tradefxhub.com Legit Or Scam?

TradeFXHub Review: this is a Forex broker that is located in the offshore location of Saint Vincent and the Grenadines. Should traders invest in tradefxhub.com or not?

This broker claims to offer clients a first class investment consultancy via their customer service system. They say they provide signals as well that help clients stay ahead of the market. Their address is at:

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First Floor, St. Vincent Bank Ltd. Building. James St. Kingstown, Saint Vincent and the Grenadines, VC0100.

There are video tutorials available for clients to study strategies that pros have used to become trading successes. Security is also touched on the website as coming first and there is transparency and fairness.

Trading products that are offered by TradeFXHub numbers into 1000+ and covers CFDs on commodities. It is mentioned that the broker plays by the rules of trade established by the United Kingdom and Asian communities but does not accept clients from these locations.

TradeFXHub Trading Platform

The trading platform offered by this broker is not specified and since there is no demo account available, it is difficult to know what platform is used.

Regulated brokers usually mention trading platforms such as MetaTrader 4 and MetaTrader 5.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

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Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments available on TradeFXHub are many and includes CFDs on indices, stocks and cryptocurrencies. They offer lots of currency pairs tradeable in the Forex markets.

Again, Forex traders with licenses who are serious about the business provides impressive trading portfolios that includes more than 300 Forex currencies, 5+ cryptocurrencies, and CFDs on numerous commodities like silver, gold, indices, stocks, oil.

Leverages can reach a maximum of 1:200 and the spreads are averaged at 1.8 pips.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal Methods on TradeFXHub

Payments on this broker are allowed via: Visa, MasterCard, Bank Wire Transfer, UPayCard, Neteller, Skrill, SticPay, and Bitcoin.

Standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on. It is so for TradeFXHub and this is a good sign.

Minimum deposit required for this broker is $500 but withdrawal charges and fees are not stated on the page.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is TradeFXHub Licensed?

No. TradeFXHub is not a regulated broker and what is more, it is located in an offshore location and brokers hold no financial license there. These locations have become notorious for harboring scammers and traders learn to avoid such.

Support

To contact a customer care representative, clients are to call: +44 203 6952360 or email: [email protected]

Conclusion

TradeFXHub is not a licensed broker and the minimum deposit requirement is higher than the obtainable average. The broker is in an offshore location and is not to be trusted.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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TradeFXHub Review – is tradefxhub.com scam or good forex broker?

Trading Accounts and Conditions

Trading account Min. deposit Max. leverage Spread
Mini $500 1:200 from 1.8 pips
Standard $5 000 1:300 from 0.8 pips
Silver $20 000 1:400 from 0.3 pips
Gold $50 000 1:500 0 pips
Platinum $250 000 1:500 0 pips
VIP $500 000 1:1000 0 pips

Forex and CFD broker TradeFXHub offers as many as six account types, but demo ones are not available. What is worse, the broker does not hold a legit license, and is actually anonymous.

Nonetheless, there are still a few supposed benefits of using TradeFXHub, and we will start off with them. So, if you are going to skim through this review, be sure to check out at least the first point of the negatives section below.

TradeFXHub Advantages

TradeFXHub claims to offer solid leverage levels, ranging from 1:200 to 1:1000, depending on the account type. Such leverage ratios would be more than enough even for the most aggressive traders out there. That being said, we should warn those of you who are not well-acquainted with the principles of margin trading that using leverage ratios that high could quickly and easily result in a serious loss.

Wide range of assets

Another possible benefit of this broker is its rich product portfolio, covering forex and wide range of CFDs – on indices, commodities, stocks and wide range cryptocurrencies. Such broad range of tradeable assets allows for portfolio diversification which helps manage risk. Yet, considering that TradeFXHub is not a licensed and reliable broker, you may check out our list of licensed brokers offering good selection of CFDs, including on Bitcoin CFDs.

TradeFXHub Disadvantages

No company name, no license

TradeFXHub mentions nothing about license, nor financial regulation. This shouldn’t be a surprise, since the authorities in St. Vincent and the Grenadines do not regulate forex brokers.

What is worse, its website does not feature even the name of the company operating the brand. There is only a contact number in the UK and an address in St. Vincent and the Grenadines. This means that TradeFXHub’s services and website are basically anonymous, and whichever the company behind the brand, it is not regulated. Doing business with unregulated broker is risky, and investing with an anonymous one basically means throwing your money in the trash.

MetaTrader not supported, no demo accounts

Unfortunately, we were not offered a demo account, which is always a worrisome sign – it shows that the broker is not transparent about its services. So, we signed up with TradeFXHub (without depositing any money) in order to sneak peek into its platform and take a look at what it actually offers. As a result, we got access to some unproven web interface, which didn’t impress us. Here is a preview:

Clcick on the image to zoom in.

Most traders prefer trading on the good old MetaTrader4 (MT4), which has proved to be an intuitive and reliable platform. The MT4 is popular for its great charting, support for automated trading via Expert Advisors, the MQL marketplace, easy customization, and more.

High initial deposit & spread on Mini accounts

Last but not least, the initial deposit required by TradeFXHub for its most basic account type – Mini – is twice higher than what most brokers ask for. Furthermore, Mini account holders don’t get good pricing – a spread starting from 1.8 pips on majors is not lucrative at all. Most brokers offer spreads within the range of 1.0 – 1.5 pips for this pair. For further information and comparison, check out the below link:

Conclusion

Considering the lack of adequate company information and regulation, TradeFXHub is clearly not legitimate and not regulated broker. All in all, traders should direct themselves to better trading options to which we have linked throughout this review. Otherwise, they risk to fall victim to the numerous fraudsters operating on the forex market.

So, the only way to stay safe is to deal only with well-established and regulated brokers, such as the ones licensed by the UK’s FCA or Cyprus’ CySEC. These regulatory agencies require compliance with a number of strict rules that give significant assurance for the safety of clients’ funds.

And finally, here are the highlights of the present review of TradeFXHub :

Pros Cons
Generous leverage No company name, no license
Wide range of assets No demo accounts
MetaTrader not supported
High initial deposit & spread on Mini accounts
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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