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FxGen

Saint Vincent and the Grenadines|2-5 years|
Suspicious Regulatory License|MT4/5 full license|Regional Brokers|High potential risk|

https://fx-gen.org/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

1
Server Name
FxGen-MetaTrader5 MT5
Server Location United States

Contact

+1(315)544 0500
support@fx-gen.com
https://fx-gen.org/

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

Open Now

Contact number

English

+1(315)544 0500

Russian

+1 (315) 544 0500

Broker Information

More

Company Name

FXGEN LTD.

Company Abbreviation

FxGen

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away!
Previous Detection : 2024-03-28
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

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FxGen · Company Summary

Note: Since FxGens official site (https://fx-gen.org/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information & Regulation

FxGen, a trading name of FXGEN LTD., is allegedly an unregulated and blacklisted forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with a wide variety of tradable assets with leverage up to 1:100 and tight spreads on the worlds most trusted and popular MetaTrader5 trading platform.

Market Instruments

FxGen advertises that it mainly offers five different asset classes in financial markets, including forex, commodities, indices, stocks and cryptocurrencies.

Leverage

A leverage ratio of up to 1:100 is offered by FxGen. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.

Spreads & Commissions

As tested on the demo MT5 account of FxGen, we found the spread on the benchmark EUR/USD pair was 0.3 pips, and a commission of $6 should be charged per side, which means that the EUR/USD cost of a trade is around 1.5 pips per standard lot.

Trading Platform Available

The platform available for trading at FxGen is the industry-standard MetaTrader5. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Trading

Deposit & Withdrawal

FxGen seems to accept payments in cryptocurrency only. The minimum initial deposit requirement is said to be only $10. The broker also charges deposit and withdrawal fees. In particular, 1% deposit fee and a 3 % withdrawal fee (no less than 15 USDT and no more than 300 USDT). However, the broker didnt reveal any information about the deposit and withdrawal processing time.

Deposit

Bonuses & Fees

FxGen claims to offer some bonuses. However, the bonus can only be withdrawn when the amount of closed lots is fulfilled.

Bonuses

Additionally, the Terms and Conditions indicate that the company can charge clients additional fees and taxes whenever it wishes, without prior notification. The T/C document also requires the client to pay all company expenses related to the broker's enforcement of legal actions.

Bonuses
Bonuses

Customer Support

FxGens customer support can be reached by telephone: +1(315)544 0500, +1 (315) 544 0500, email: support@fx-gen.com. Registered address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines.

User Reviews

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Comments

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randy34134
more than one year
They actually have answers and get issues solved or questions answered extremely quickly. I traded forex pairs and indices here most often, and I really did not met any problems here. I was given accurate trading signals all the time, and my professional account managers always give me patient guidance, I would, therefore, give this broker five stars without any hesitation.
2023-03-23 09:45
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0
0
德儿意的笑
more than one year
Another offshore scammer…don’t risk your money here. They were established purely to defraud you and steal your money. These guys just ran away with my money, roughly $5000, a big sum!!!
2022-11-30 15:46
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