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The WikiFX Score of this broker is reduced because of too many complaints!

FXTRATEGY

United States|1-2 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.fxtrategy.com/

Website

Rating Index

Contact

https://www.fxtrategy.com/
S.A. de C.V. Florencia 57, Juarez, C.P. 06600
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Estrategias Comerciales Pallay

Company Abbreviation

FXTRATEGY

Platform registered country and region

United States

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 3
Previous Detection : 2024-04-17
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 8 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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    FXTRATEGY · Company Summary

    FXTRATEGY Review Summary
    Company Name Estrategias Comerciales Pallay
    Registered Country/Region United States
    Regulation Non-regulated
    Market Instruments Stocks, Cryptocurrencies, Forex Exchange, Commodities, Indices, ETFs, Bonds
    Demo Account N/A
    Leverage N/A
    Spread N/A
    Commission No Subscription Fees
    Trading Platforms Sirix (Web trader)
    Minimum Deposit N/A
    Regional Restrictions Do Not Support Users of European Union and the United States
    Customer Support WhatsApp: +52 1 55 1291 2586
    Company Address S.A. de C.V. Florencia 57, Juarez, C.P. 06600

    What is FXTRATEGY?

    FXTRATEGY is a trading service provided by the company Estrategias Comerciales Pallay. While the company is registered in the United States, it is important to note that it is currently not regulated by any financial authority or agency.

    FXTRATEGY's homepage

    Pros & Cons

    Pros Cons
    • No Subscription Fees Charged
    • Non-regulated
    • Regional Restrictions on European Union and the United States
    • Very Limited Customer Support
    • Many Negative Customer Reviews

    Pros:

    • No Subscription Fees Charged: FXTRATEGY doesn't charge any fees for subscription, which can reduce the initial costs for traders.

    Cons:

    • Non-regulated: FXTRATEGY is currently non-regulated, which indicates that it does not adhere to the strict standards and regulations inflicted by financial regulatory authorities. This could pose potential risks for investors as they would have limited protections.

    • Regional Restrictions on European Union and the United States: FXTRATEGY does not support users from the European Union and United States. This limits the demographics that can access and use their trading services.

    • Very Limited Customer Support: Limited customer support availability can lead to delayed responses and inefficient problem-solving.

    • Many Negative Customer Reviews: The presence of several negative customer reviews often suggests dissatisfaction with the services provided, which potential new users should also consider.

    Is FXTRATEGY Safe or Scam?

    • Regulatory Sight: FXTRATEGY is currently non-regulated. This means the company is not supervised by any financial regulatory authority. Users should be cautious as non-regulated platforms may not adhere to the strict standards set by financial regulators and may offer fewer protections for investors. It's advisable for traders to fully understand the risks and terms before engaging with non-regulated platforms.

    No license
    • User Feedback: From the user feedback, a prevailing issue seems to be difficulties in withdrawing funds from FXTRATEGY. Users claim they invested significant sums of money but were unable to recover their principal investment. Cases of unauthorized withdrawals that left users in debt have also been reported. Some users also indicated that the platform became unresponsive after deposits were made, ceasing calls and failing to provide assistance. Some users feel they were induced into fraudulent activity, noting unexpected demands for additional deposits. Multiple appeals for assistance in recovering invested money were made.

    User Exposure on WikiFX
    • Security Measures: So far we haven't found any information about the security measures for this broker.

    Market Instruments

    FXTRATEGY offers a broad range of market instruments across more than 200 countries in the world's major financial markets. These instruments include:

    • Stocks: FXTRATEGY offers opportunities for medium and long-term investments in the stock market. The value of these stocks can be affected by various events such as earnings reports, new product launches, or changes in competitor stock prices.

    • Foreign Exchange: They also offer opportunities in the forex market, where investors speculate on the changing values of various currency pairs. Further details aren't provided, but this typically involves short-term trading strategies.

    • Indices: Investors on FXTRATEGY can also participate in trading indices. These typically feature a basket of different stocks representing a particular segment of the market. Specific details about the available indices aren't provided.

    • Bonds: Bonds, considered as one of the safer investment options, are also available on FXTRATEGY. These involve lending money to a corporation or government for a fixed period in exchange for regular interest payments.

    • Cryptocurrencies: FXTRATEGY provides opportunities for trading in the volatile cryptocurrency market. Detailed information about which cryptocurrencies are available isn't provided.

    • Commodities: The platform also allows for trading in commodities, which can include physical assets like gold, oil, or agricultural products.

    • ETFs: Exchange-Traded Funds, which are investment funds traded on stock exchanges, are also offered. ETFs generally aim to track the performance of specific indices, sectors, or commodities.

    Market Instruments

    Commission

    FXTRATEGY states that they do not charge any subscription fees, meaning users can register and subscribe to their services free of charge. However, the platform does not provide detailed information on other possible charges. This could include transaction fees, withdrawal fees, or inactivity fees, often termed as hidden fees. Therefore, its important for users to inquire directly or read through all the terms and conditions to understand the full cost structure before starting trading.

    Trading Platform

    FXTRATEGY uses the Sirix Web Trader platform for its trading services. Sirix is renowned for its user-friendly, intuitive, and secure design, enabling a smooth trading experience for users.

    As a web-based platform, Sirix does not require any software downloads, making it highly accessible. Users can operate their trading activities using their smartphone, computer, or tablet from any location, and they can invest in all the major markets globally with just a single click. The platform is compatible with both macOS and Windows, further enhancing its accessibility.

    In terms of functionality, Sirix is comprehensive and focuses on maximizing usability for traders. It offers accurate currency conversions and is said to possess a high level of security to protect users' investments and data. This combination of functionality, convenience, and security has made Sirix a preferred platform choice for thousands of users around the world. However, users should familiarize themselves with the platform's features to ensure they can effectively leverage its tools and functions for their trading activities.

    Trading Platform

    Conclusion

    FXTRATEGY, provided by Estrategias Comerciales Pallay, operates as a non-regulated trading platform registered in the United States. It offers a variety of market instruments via the user-friendly Sirix platform, but some major concerns raised by users include difficulties in withdrawing funds and limited customer support. Also, it operates restrictions for users from the European Union and the United States, limiting its accessibility. We do not recommend users to trade with this broker.

    Frequently Asked Questions (FAQs)

    Q: Is FXTRATEGY regulated by any financial authority?

    A: No, FXTRATEGY is not currently regulated by any financial authority or agency.

    Q: Does FXTRATEGY charge subscription fees?

    A: No, according to the information provided, FXTRATEGY does not charge any subscription fees.

    Q: What trading platform does FXTRATEGY use?

    A: FXTRATEGY uses the Sirix Web Trader platform for its trading services.

    Q: Are there any regional restrictions for using FXTRATEGY?

    A: Yes, FXTRATEGY does not support users from the European Union and United States.

    Q: Is it safe to trade with FXTRATEGY?

    A: No, it is not very safe. With a non-regulated status and several issues reported by users, we can say this broker is not an ideal choice considering security.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

    In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

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