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fx88

Cyprus|5-10 years|
Suspicious Regulatory License|MT4/5 full license|Regional Brokers|Clone Firm Cyprus|High potential risk|

https://fx88.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
Galactus-Demo MT4
Server Location United Kingdom

Contact

cs@fx88.com
https://fx88.com/

Licenses

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

Single Core

1G

40G

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Broker Information

More

Company Name

FX88.com

Company Abbreviation

fx88

Platform registered country and region

Cyprus

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 2
Previous Detection : 2024-03-29
  • The claimed CyprusCYSEC regulation (license number: 322/17) is verified as a clone firm. Please pay attention to the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

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fx88 · Company Summary

General Information & Regulation

FX88 is an Cyprus-based broker, with its actual office address, the company behind it unknown to all. There is zero evidence that this broker is under any regulatory agency. FX88 advertises that it offers forex currency pairs, various CFDs through MT4 trading platform.

Markets Instruments

Fx88 offers trading in 45 currency pairs, as well as CFDs on commodities, precious metals and indices on MetaTrader 4 platform.

Minimum Deposit

The minimum amount one has to deposit in order to open an account with this broker is $100, which is not much, yet many Cyprus-based companies require even less.

Leverage

FX88 offers leverage up to 1:500, which is considered high. Since leverage can amplify gains as well as losses, trading with such an unregulated broker using high leverage is not a good option.

Spreads & Commissions

FX88s spread on Standard commission-free accounts are average, typical ones amounting to 1.3 pips on EUR/USD. Its ECN spreads are a lot better, averaged 0.1 pips for thos pair, but also involve a commission of $7 per standard.

Trading Platform Available

FX88 offers its clients the industrys standard MetaTrader 4 (MT4), which is available as downloadable desktop, web & mobile versions. The MT4 is preferred by most traders, because it is user-friendly and yet reliable and equipped with professional trading tools. It supports automated strategies, offers extensive back-testing environment and a number if build-in technical analysis tools, as well as advanced charting package.

Deposit& Withdrawal

FX88 offers its clients bank wire transfer, credit/debit cards and and popular e-wallets such as Skrill, neteller and Dotpay as payment methods.

User Reviews

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1

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wennie wen
more than one year
fx88 is a clone firm. It is a scam site. Please don't deposit with them. You are not going to have your money back. I am a witness. I deposited twice and trickily they denied me withdrawal and suspended my account with fluency reasons of insulting them. It is a mistake of a site. I advise you not to invest with them. Such sites as this are not supposed to continue to exist.
2023-03-23 18:31
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