Leverage Up to 1:2000? Beware of Unregulated FX Broker FX Crypto Experts
As one of the largest markets in the world, forex markets are full of invisible threats. And most of the threats are created by forex scammers. For luring you to deposit, they may make up some ridiculous lies, such as offering you high leverage. And FX Crypto Experts is one of the liars that claim to offer investors leverage up to 1:2000.
Twin 10-Year-Experienced Brokers?
The scammer FX Crypto Experts presents a "10-Years" logo on the homepage, giving visitors an impression of an experienced broker. It also shows the awards it has won in 2019 and 2020.
However, the domain (https://home.fxcryptoexperts.c...) was created on 19th November 2020. Why would a broker with such rich experience have a newborn website? And even won awards before the domain was created? It is a red flag.
Moreover, we surprisingly found a funny fact that the scam's website is highly similar to another illegal forex broker that was exposed by BrokersView - Optimize Funds (Check the previous news about Optimize Funds from here). And both the scammers lure investors by providing high leverage and bonus.
Extremely High Leverage & Bonus
The fraudster claims that the highest leverage is up to 1:2000, which is attractive to adventurous traders who desire to make a lot of money at once. However, many top-tier forex regulators have strict limits on leverage, which is a protection of your funds. For example, a forex broker regulated by UK FCA can offer leverage up to 1:30. And the brokers regulated by Capital Markets Board of Turkey (CMB) are only allowed to offer leverage below 1:10.
Not Regulated
FX Crypto Experts claims to be a property of Fxcryptoexpers Ltd, registered in the USA and regulated by the IFSC (refers to Belize FSC), license number No. 000138/107.
However, no regulated company named Fxcryptoexpers Ltd can be found in NFA - the USA forex regular- and Belize FSC. In other words, the scam is not regulated in the USA or Belize.
More importantly, FX Crypto Experts has been warned by Belize FSC for not being authorized to conduct forex activities in Belize.
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