FXpertos

FXpertos is a shady broker which hides its trading conditions from its users. Find out more in this detailed FXpertos review.

FXpertos – A Shady Broker You Should Avoid

FXpertos is a forex broker claiming to have an address in the UK. They have a generic website and it seems like they are trying to target the spanish-speaking regions more. 

In my FXpertos review, you’ll discover whether you should trade with them or not. Let’s get started. 

Is FXpertos Regulated?

At the bottom of their website, they have given a very vague address along with their contact information:

As a UK-based broker, FXpertos must hold a license from the FCA to provide their services. So I checked FCA’s register for FXpertos’ name but I didn’t find any results.

This clearly means that FXpertos is an unregulated broker. They are providing their services illegally and you shouldn’t trust them. If you don’t know what an unregulated broker is, the following section would help:

What is an Unregulated Broker?

An unregulated broker refers to a broker that doesn’t hold a legitimate license or when there’s no regulatory authority that supervises its activities. Unregulated brokers usually reside in offshore regions such as the Commonwealth of Dominica or Saint Vincent and the Grenadines. These regions don’t have financial regulators, allowing shady forex brokers to set up shop easily. 

Are Unregulated Brokers Safe?

No, trading with an unregulated broker is very dangerous. As they don’t face any repercussion for harming the interests of their clients. 

With an unregulated broker you face multiple risks such as:

  • stealing of funds
  • data theft
  • price manipulation 
  • getting defrauded

As such brokers don’t fall under the control of any regulatory authorities, you don’t get to participate in the various compensation schemes they run as well. For example, the regulatory authority of the UK, Financial Conduct Authority (FCA), offers up to 85,000 in case the broker goes insolvent.

Similarly, CySEC (Cyprus Securities and Exchange Commission) offers up to 20,000 to the clients of a CySEC-regulated broker in case it goes bankrupt. You wouldn’t get such compensation in case your broker is unregulated.

Regulatory authorities keep very strict rules and regulations to ensure their licensed brokers don’t steal from their clients. Again, unregulated brokers don’t follow such provisions.

All in all, it is unsafe and very dangerous to trade with an unregulated broker. 

Should You Trust FXpertos?

No, you can’t trust FXpertos as it’s an illegal operation and is most definitely a scam. You should avoid trading with them as they don’t have a license to operate as a forex broker. It would be best to find a regulated broker instead of trading with FXpertos. 

How is the Website of FXpertos?

FXpertos has a generic-looking website. Moreover a lot of the places on their website are inaccessible, making them seem more shady than I expected at first.

For example, when you click on the Terms and Conditions of their website, the webpage wouldn’t open and you’ll be asked to go back to the home page. Clearly, the broker has kept its vital legal information hidden from its users, which is not a good sign. 

The website of a broker can tell you a lot about its reliability. Reliable brokers would keep most of the information on their website accessible while ensuring that their interface looks attractive.

You wouldn’t have to put much effort into finding any vital piece of information on a reliable broker’s website. 

On the other hand, scammers and unregulated brokers try to hide a lot of crucial information from their users. They wouldn’t want you to find out about their shady policies or thier unregulated nature. Many times, a group of people runs multiple forex scams and so, their  websites look sloppy and very unprofessional. 

If a broker’s website looks outdated and horrible, you should avoid trading with them. No reliable broker would risk losing customers because of their horrible UI. 

What are the Trading Conditions of FXpertos?

FXpertos Trading Platform

FXpertos doesn’t clarify which trading platform it uses, which is another indication of them being a scam. It either means they don’t have a trading platform in the first place, or they offer a horrible platform to their users. 

In both cases, it wouldn’t be worth the effort to try it out. Moreover, the numerous technical errors on their website make it nearly impossible to try out their trading platform. 

FXpertos Leverage

The broker gives no information about the leverage it offers to its users. This is another sign that the broker is a scam because the offered leverage of a broker can tell you a lot about it. Usually a high leverage ratio suggests that the broker is a scam. That’s because various regulatory authorities have added limits on the amount of leverage a broker can offer. In the UK, the limit is 1:30 while in the US, the limit is 1:50. 

FXpertos Spreads

Just like with the trading platform and the leverage, FXpertos offers no information about the spreads it offers to its clients. Again, we can assume that they either offer horrible spreads to their clients or haven’t decided what they offer yet. Reliable brokers provide such information very easily and keep this information accessible. However, FXpertos doesn’t do anything like that. 

FXpertos Minimum Deposit

The minimum deposit requirement of this broker is $250 which is too high by any standards. Usually brokers require you to deposit $100 or lower. The broker offers various trading accounts to its clients but doesn’t provide much information about them except their varying minimum deposit requirements.

FXpertos accounts

As you can see in the screenshot, this broker offers a total of five accounts called Inicial, Basic, Pro, Expert, and Black. The minimum deposit requirements of each account is $250, $5,000, $25,000, $100,000, and $250,000. 

What are the Payment Methods?

The available payment methods available with this broker are Yandex, American Express, Wire transfer, credit card, UPayCard, Advcash, Postepay, and QIWI.  

What are the Fees?

FXpertos hasn’t specified whether it charges any commission or any withdrawal fees. It has kept most of its fee-related information hidden from its users. 

The only fee they mention is the 10% monthly inactivity fee which they charge if your account remains inactive for three months. Clearly, the broker has kept most of its fee-related information hidden. 

If a broker tries to hide fee-related information from you, that’s a HUGE RED FLAG. You should stay away from that broker. 

When a broker hides such information from its clients, the broker would usually have unfair clauses in its terms and conditions and would charge your account heavily. Scammers use this tactic many times so if the broker has kept their fee-related information hidden, please avoid them. 

Do They Offer Bonuses?

Many forex scams offer bonuses and FXpertos is just the same. The funds you get from a bonus belong to the broker and not the trader, which is a prominent issue many traders are unaware of. 

Although I recommend verifying every broker’s license before trading with them, there’s a much easier way to see if a broker is unregulated or not. 

You see, all the reputed financial regulators prohibit their licensed brokers from offering bonuses to their clients. The regulators add this restriction because bonuses make the withdrawal process more complicated for the users through adding further conditions.

So if you ever see a broker that offers ‘credit’ or ‘bonus’ then know that they don’t have a license at all. 

How is the Customer Support of FXpertos?

Scams keep their customer support quality poor because they don’t want to hear the complaints of their victims. FXpertos is just like that. The only way to contact the customer support of FXpertos is through email. They have given a vague address so you can’t go there and meet them. Moreover, they haven’t given a phone number to contact. 

FXpertos Review – Are They Worth It?

FXPertos is a forex scammer posing as a broker. They don’t have a license nor do they offer any information about their trading conditions. From the terms and conditions to the trading platform, nearly everything is inaccessible on their website. I don’t recommend trading with this broker. 

I hope that you found my FXpertos review helpful. You can share this review with others who might be interested in trading with them. The more people know about their reality, the better. 

2.5 Total Score
Not a Trustworthy Option

FXpertos is a shady broker with all the signs of a scam. They don't have a license and have kept most of their information hidden from their users. You should avoid them.

Trust
2
Support
3
Reputation
3
Trading Experience
2
CONS
  • Unlicensed
  • Unregulated
  • Liar
  • Hides crucial information
  • Inaccessible terms and conditions
  • Offers shady bonuses
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