7XFX, a scammer or a reliable forex broker?

What 7XFX is

7XFX is an online operating brokerage firm that provides traders with online trade services. This broker is claimed to be regulated by the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA).However, according to WikiFX, we have known that this broker‘s registered region is Saint Vincent and the Grenadines, but the company address remains unknown. The SVGFSA actually doesn’t license brokers registered on the island, meaning that this broker is unregulated. It is risky to invest with them as WikiFX gives 7XFX a very low rating of 1.05/10.

Unavailable in using MT4/MT5 software

In most cases, forex brokers use Trade Manager MT4/MT5 to do business. Only a few brokers use other technical software, it is obvious that 7XFX is not on that list. According to WikiFX, 7XFX does not use MT4/5 software, which makes people doubt its reliability.

How the risk looks like

Tempting enough as its offer seems to look, 7XFX tries its best to persuade customers to invest with them. They are likely to forge some fake reports to make you believe that there are a lot of potential returns as long as you invest in them. Once you deposit, your money probably go shores where it disappears, so you will have almost no chargeback option left. They may also give you some profits so as to make you deposit more. Once the trap becomes so obvious, they will stop responding to you and your funds are no longer under your control.

Conclusion

7XFX is a suspicious broker that probably makes your money never come back. You need to avoid it since it potentially endangers your money.

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