Overview of FX RETURNS
FX Returns, founded in 2015 in the United Kingdom, provides a broad spectrum of trading assets, featuring over 80 currency pairs, commodities, indices, and cryptocurrencies. The platform boasts a competitive fee structure, with low spreads and transparent commissions, appealing to traders of varying experience levels. Users benefit from a user-friendly interface and a leverage of up to 1:200.
However, concerns arise as FX Returns is unregulated, raising questions about the platform's credibility and user protection.
Is FX RETURNS legit or a scam？
FX RETURNS is not regulated by any authority, which raises concerns about its adherence to industry standards and user protection.
The absence of regulatory oversight means that the platform operates without external scrutiny, potentially leading to uncertainties regarding ethical practices, financial stability, and the overall security of users' funds. Traders should approach FX RETURNS with caution, recognizing the potential risks associated with engaging on a platform lacking regulatory supervision.
Pros and Cons
Pros:
Diverse Trading Instruments:
Access to Forex, Commodities, Indices, and Cryptocurrencies. CFD Trading for Leverage and Flexibility.
2. Competitive Fee Structure (Spreads & Commissions):
3. User-Friendly Trading Platform:
4. Leverage of Up to 1:200:
5. Variety of Payment Methods for Deposits and Withdrawals:
6. Low Minimum Deposit Requirement ($100):
Cons:
Unregulated:
2. Limited Educational Resources:
Reported deficiency in comprehensive educational materials, including tutorials, webinars, and articles. Hindrance to traders seeking to enhance their skills and understanding of the market.
3. Lack of Website Accessibility:
4. Customer Support Criticized for Slow Response Times:
5. Limited Customization and Third-Party Integrations on Platform:
6. Inactivity Fee Imposed for Accounts Inactive for Over 6 Months:
Market Instruments
FX Returns offers a comprehensive range of trading assets, enabling traders to diversify their portfolios and explore opportunities across multiple markets.
In the forex market, users can trade on over 80 currency pairs, encompassing major, minor, and exotic pairs, allowing them to capitalize on global market trends.
The platform extends its reach to the commodities market, providing exposure to energy products (oil, gas), precious metals (gold, silver), and agricultural goods (wheat, corn). This diversification potential enables traders to hedge against inflation or other economic factors.
Investors interested in stock market indices can engage in trading major indices such as the S&P 500, NASDAQ, and DAX. This allows for broad exposure to various sectors of the economy without the need to purchase individual stocks.
FX Returns also facilitates CFD trading, allowing users to speculate on the price movement of assets like stocks, commodities, and indices without direct ownership. This approach provides leverage and flexibility for traders seeking alternative investment strategies.
Furthermore, the platform ventures into the dynamic realm of cryptocurrencies, offering access to popular digital assets like Bitcoin, Ethereum, and Litecoin. Traders can participate in the volatile cryptocurrency market, potentially yielding high returns with careful risk management.
The diverse array of trading instruments positions FX Returns as a versatile platform catering to various investment preferences and risk appetites.
Account Types
The Standard Account offered by FX Returns is designed to cater to a broad range of traders, providing a balanced mix of features suitable for both beginners and those with some trading experience.
With a leverage of up to 1:200, traders have the flexibility to amplify their market exposure, allowing for potentially more substantial returns.
The starting spread of 0.5 pips contributes to cost efficiency, making it favorable for those seeking competitive trading conditions. A modest commission of $0.02 per lot per side ensures transparency in the fee structure.
The minimum deposit requirement of $100 makes the Standard Account accessible to traders with varying risk appetites, and the inclusion of a demo account is beneficial for those looking to practice and refine their trading strategies.
The Standard Account utilizes the WebTrader platform with basic charting tools, making it user-friendly for traders at different experience levels. In summary, the Standard Account is well-suited for both novice and intermediate traders who value a straightforward fee structure, competitive trading conditions, and the opportunity to practice in a risk-free demo environment.
How to Open an Account？
Opening an account with FX Returns is a straightforward process. Follow these six steps to get started:
Visit the Website:
Navigate to FX Returns' official website using a web browser. The website address will typically be provided by the broker.
2. Account Registration:
Locate the “Register” button on the website's homepage and click on it to initiate the account registration process. You will be prompted to provide personal information, including your name, email address, and phone number.
3. Verification Process:
Complete the necessary identity verification process. This usually involves uploading identification documents, such as a government-issued ID and proof of address. Follow the website's instructions to securely submit these documents.
4. Deposit Funds:
Once your identity is verified, proceed to deposit funds into your trading account. The website should provide various options for funding, such as bank transfers, credit/debit cards, or other accepted payment methods. Ensure that you meet the minimum deposit requirements based on your chosen account type.
5. Access Trading Platform:
After funding your account, you can access the trading platform. Log in using the credentials you created during registration and explore the features provided by FX Returns' platform. You are now ready to start trading and managing your investments.
Always ensure that you read and understand the platform's terms and conditions, and keep your account information secure. If you encounter any difficulties during the process, the website should have customer support options, such as live chat or email, to assist you.
Leverage
FX Returns provides a maximum leverage of up to 1:200, allowing traders to amplify their market exposure in comparison to their invested capital. This means that for every unit of the trader's capital, they have the potential to control positions valued at up to 200 times that amount.
While higher leverage can enhance potential profits, it also escalates the risk of significant losses. Traders utilizing this level of leverage should exercise caution and implement effective risk management strategies to safeguard their investments. The 1:200 leverage offered by FX Returns provides flexibility for traders seeking more substantial market exposure, but it necessitates a prudent approach to mitigate the inherent risks associated with leveraged trading.
Spreads & Commissions
FX Returns distinguishes itself with a competitive fee structure, boasting spreads that commence from an impressively low 0.5 pips. This low spread contributes to cost efficiency for traders, allowing them to potentially capitalize on market movements with minimal impact on their profits. Moreover, the platform imposes a modest commission of $0.02 per lot per side, further enhancing transparency in its fee model.
The starting spread of 0.5 pips underscores FX Returns' commitment to providing traders with favorable trading conditions, especially in comparison to industry standards. The addition of a fixed commission of $0.02 per lot per side ensures that traders have clarity on the costs associated with their transactions. This fee structure is designed to cater to a diverse range of traders, offering them a cost-effective and transparent trading environment that aligns with their financial goals and preferences.
Trading Platform
FX Returns offers a web-based trading platform with functionalities tailored to different user needs. Here's an objective overview:
Basic account: Access basic charting tools, technical indicators, and order types like market and limit orders.
Intuitive interface: The platform is user-friendly and easy to navigate, even for beginners.
Real-time market data: Access live quotes and market depth for informed trading decisions.
News and analysis: Stay updated with market news and expert analysis directly within the platform.
Limitations:
Limited customization options: The platform offers pre-set layouts and limited customization options for advanced users.
Fewer third-party integrations: Compared to other platforms, FX Returns offers fewer third-party integrations for advanced tools and resources.
Overall, the FX Returns trading platform provides essential functionalities for basic and active traders. While it lacks some advanced features and customization options, its user-friendly interface and web-based access make it suitable for beginners and those seeking a straightforward trading experience.
Deposit & Withdrawal
FX Returns offers a variety of convenient payment methods to fund your trading account, catering to users from different regions and preferences. Here's an overview:
Credit/debit cards: Major cards like Visa and Mastercard are accepted, offering a familiar and readily accessible option.
Bank transfers: Both local and international bank transfers are available, allowing for larger deposits or transfers from your existing bank accounts.
E-wallets: Popular e-wallets like PayPal and Skrill are supported, providing a fast and convenient way to deposit funds.
FX Returns prioritizes transparency in its fee structure, ensuring predictable costs for users. Here's a breakdown of the fees:
Deposits: Free for all methods.
Withdrawals: Free for bank transfers and e-wallets, with a nominal fee of $25 for international bank transfers.
Inactivity fee: $10 per month for accounts inactive for more than 6 months.
Customer Support
FX RETURNS' customer support has been criticized for slow response times, lacking multiple communication channels.
The absence of a dedicated phone number, social media presence on platforms like Twitter, Facebook, Instagram, YouTube, LinkedIn, and WhatsApp raises concerns about accessibility. While an email option at support@fxreturnshq.com is available, users have reported delays in issue resolution. The negative feedback regarding the responsiveness of customer support may impact the overall user experience, especially for those seeking timely assistance or resolution.
Conclusion
In conclusion, FX Returns presents a versatile trading platform offering a diverse array of assets, including currencies, commodities, indices, and cryptocurrencies. The competitive fee structure, with low spreads and transparent commissions, positions it as an appealing option for traders seeking cost-efficient solutions. Additionally, the user-friendly interface, a leverage of up to 1:200, and a low minimum deposit of $100 cater to both novice and intermediate traders, enhancing accessibility and flexibility.
However, potential drawbacks include reported slow customer support and a lack of comprehensive educational resources, hindering the learning experience for users. The unregulated status raises concerns about the platform's credibility and user protection.
Traders considering FX Returns should weigh these advantages and disadvantages carefully, conducting thorough research and assessing their individual preferences and risk tolerance before engaging with the platform.
FAQs
Q: How do I open an account with FX Returns？
A: Visit the official website, click “Register,” provide personal information, complete identity verification, deposit funds, and access the trading platform.
Q: What is the minimum deposit requirement？
A: The minimum deposit for a Standard Account is $100, making it accessible to traders with varying risk appetites.
Q: What leverage does FX Returns offer？
A: FX Returns provides a maximum leverage of up to 1:200, allowing traders to amplify their market exposure.
Q: Are there educational resources available？
A: Reports suggest a lack of comprehensive educational materials on the platform, including tutorials and webinars.
Q: How diverse are the trading instruments？
A: FX Returns offers a range of assets, including over 80 currency pairs, commodities, indices, and cryptocurrencies.
Q: What is the regulatory status of FX Returns？
A: FX Returns is unregulated, prompting caution and raising concerns about the platform's credibility and user protection.
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