Is fxfront fx legit? Fxfrontf.com reviews

Introduction

With the proliferation of online trading platforms and brokers, it can be difficult to know which ones are legitimate and which ones are scams. One such platform that has recently garnered attention is fxfrontf.com, also known as FxFront FX. In this article, we will take a closer look at this platform and provide our verdict on whether it is safe to use or not.

About FxFront FX

FxFront FX is an offshore brokerage that offers forex and crypto investment services to its clients. The company promises a variety of instruments such as forex, stocks, commodities, crypto, bonds, and indices. Additionally, they advertise a zero spread difference in Buy/Sell.

Regulation

FxFront claims to have a registered address in New York, United States, and to be regulated by the National Futures Association (NFA), one of the two regulatory bodies for forex brokers in the United States, the other being the Commodity Futures Trading Commission (CFTC). However, it should be noted that a single NFA regulation is not enough, as the broker must also be approved by the CFTC. To consider FxFront as both a US and UK-based broker is to place an unrealistic amount of responsibility on the broker’s shoulders that it would collapse.

Furthermore, FxFront does not offer a money-back guarantee, which means trading on such a platform is a clear risk as your money cannot be refunded. We recommend that traders avoid brokers with this kind of policy as it can be a sign of a scam.

Account Types

FxFront does not specify its trading account types for clients, nor do they provide information on leverage and spreads. The only information provided is that the broker’s minimum deposit is $100. While this may appear cheap and attractive, it is important to note that doing it with an unlicensed broker is a risk.

Deposit and Withdrawal Methods

FxFront did not provide information on which deposit methods it accepts or transaction fees. However, it is common for offshore brokers to accept cryptocurrencies. Payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person, which can be a red flag for some traders.

Trading Software

When we tried to open an account with FxFront, we were informed that we could not do so without a referral code. This is unusual, as most legitimate brokers allow clients to sign up without a referral code. Additionally, FxFront does not provide any information on the trading software they use, such as the popular MetaTrader 4 or 5. Using forex brokers with advanced trading software like MT4/MT5 can provide traders with the best features of real-time quotes, financial news, and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.

Licensing and Regulation

FxFront is not a licensed brokerage firm and is not under any financial regulation, which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

Verdict

In conclusion, after conducting an in-depth analysis of FxFront, it is evident that this offshore brokerage cannot be trusted. Despite the numerous promises made by the broker, such as offering various trading instruments and a zero spread difference in Buy/Sell, there are several red flags that should not be ignored.

Firstly, FxFront claims to be regulated by the NFA, but it is not enough to consider it a US and UK based broker. A single NFA regulation is not sufficient, and the broker must be approved by the CFTC as well, which is not the case here. Furthermore, FxFront does not offer a money-back guarantee, indicating that trading on their platform is a risk, as clients’ money cannot be refunded.

Another drawback is that FxFront does not provide information about its trading account types, including leverage and spreads, making it difficult for traders to make informed decisions. The broker deposit is only indicated at $100, which may seem cheap and attractive, but it is a risk to deposit funds with an unlicensed broker.

Moreover, the fact that FxFront does not specify the deposit methods it accepts and transaction fees raises concerns about the anonymity of payments. Offshore brokers are notorious for accepting cryptocurrencies, which can be anonymous and only traceable to a wallet address, not to a specific person. This raises questions about the transparency and legitimacy of FxFront’s payment methods.

Lastly, FxFront’s lack of transparency with regards to its trading software is a significant red flag. The broker requires a referral code to open an account, which makes it challenging for traders to access the platform. Furthermore, trading with an unregulated forex broker like FxFront can result in substantial losses, as traders are likely to fall victim to scams.

Therefore, it is highly recommended that traders avoid FxFront and instead opt for licensed and regulated brokers that are transparent about their licensing and regulatory status. One such broker is Fortrade, a UK-based broker that is regulated and licensed by the FCA, ASIC, NBRB, CySEC, and IIROC. Fortrade offers trades in numerous assets, including stocks, commodities, currencies, indices, and cryptocurrencies, and accepts traders worldwide. With Fortrade, clients can start trading with as low as $100, and their funds are safe.

In conclusion, traders should always exercise caution and conduct thorough research before choosing a forex broker. It is essential to prioritize transparency, licensing, and regulation, as well as the safety of clients’ funds. By doing so, traders can avoid falling victim to scams and maximize their trading potential with a trustworthy and reliable broker.

 

Summary

FxFront FX, also known as fxfrontf.com, is an offshore brokerage firm that claims to offer crypto investment services to its clients. The company promises to provide different financial instruments such as forex, stocks, commodities, crypto, bonds, and indices, along with a zero spread difference in buy/sell.

However, upon further investigation, it is evident that fxfrontf.com is not a regulated broker. The broker claims to have a registered address in New York, United States, and that it is regulated by the NFA, one of the regulators in the United States, alongside the CFTC. However, having only a single NFA regulation is not enough, as the broker must also be approved by the CFTC to be considered a US and UK based broker.

Trading with an unlicensed broker like FxFront is a risk, as the company does not offer a money-back guarantee, and clients cannot be sure of the safety of their funds. It is always advisable to check for regulated and licensed brokers on financial authorities’ websites before depositing funds for trading.

In contrast, Fortrade is a UK-based broker with an 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, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus, as well as IIROC in Canada, which makes client funds safe. They accept traders worldwide.

FxFront does not specify its trading account for clients, and the broker provides no information on leverage and spreads. The broker deposit is indicated as $100 based on the account type. While this may appear cheap and attractive, doing it with an unlicensed broker is a risk.

FxFront did not say which deposit methods it accepts and transaction fees. Offshore brokers are commonly known for accepting cryptocurrencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person.

When trying to open an account with FxFront, we were informed that we could not do so without a referral code. The use of forex brokers with advanced trader features like MT4/MT5 is recommended, as they offer real-time quotes, financial news, various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.

However, we would advise traders to steer clear from unlicensed brokers like FxFront as they are likely to be a platform run by scammers. It is essential to rely on regulated brokers like Fortrade, which clearly spell out their regulation and license credibility with no strings of fraud. Clients can start trading with as little as $100, with the assurance of the safety of their trading funds.

In conclusion, FxFront appears to be a trustworthy trading broker at first glance, but it is not a licensed brokerage firm. Its unlicensed and unregulated activities are a red flag that must be avoided. It is always better to be safe than sorry when it comes to trading, and it is recommended that traders choose licensed and regulated brokers like Fortrade.