General Information About the Broker
Fax Trade (fax.trade) claims to be a professional and secure trading platform.
It offers trading in forex, cryptocurrencies, and commodities.
However, the domain was only registered in 2022, raising credibility concerns.
Despite claims of global reach, no clear company background is available.
No contact address or verified phone number is listed on the website.
Transparency is minimal, which is a major red flag for new investors.
Claimed Licenses and Regulation
Fax Trade claims to follow regulatory guidelines and secure transactions.
However, it is not registered with any recognized financial regulatory authorities.
No license information is listed from bodies like FCA, ASIC, or CySEC.
The absence of verified regulation raises suspicions of fraud or unlicensed activity.
Many scam brokers use vague compliance statements to mislead users.
Trading Conditions
Fax Trade offers high leverage and promises fast order execution.
However, details on spreads, fees, and account types are poorly defined.
There is no demo account option for new users to test the platform.
Clients have reported hidden fees and balance deductions without explanations.
Withdrawal conditions are vague and often not honored, according to reviews.
Trading Platform and Technology
The broker claims to use a secure web-based trading platform.
However, multiple users report frequent downtimes and system errors.
There is no mention of industry-standard platforms like MetaTrader 4 or 5.
Data encryption methods or investor fund protection policies are also unclear.
Client Reviews and Feedback
Users of Fax Trade have shared mostly negative experiences online.
Complaints include blocked accounts after profits and refused withdrawal requests.
Many reviews suggest the platform operates like a classic scam.
Support is reportedly unresponsive, especially after clients request fund withdrawals.
Potential Scam Strategies
Fax Trade scam broker tactics likely include the following methods:
- Offering unrealistic profit guarantees to attract deposits
- Hiding true trading conditions and platform risks
- Blocking access or ignoring clients after funding accounts
- Refusing or stalling withdrawal requests repeatedly
Such methods are commonly used by fraudulent, unregulated platforms.
Expert Opinion
Fax Trade shows multiple signs of being an unregulated and risky broker.
Its lack of licensing, poor transparency, and negative feedback indicate a scam operation.
Clients should avoid depositing funds with this platform under any circumstances.
Conclusion
Fax Trade is not a reliable broker and shows strong scam indicators.
Choose well-regulated platforms with transparent practices and verifiable credentials.
Protect your funds by avoiding unregulated services like Fax Trade scam broker.
