FXB Trading is this a scam? Review and Customers Reviews

FXB Trading is a relatively young company in the service Forex market registered in 2016. The main goal of the company is to declare innovative models of work in the world of online trading, which allow its clients to constantly grow and develop their skills in trading on a long-term basis, to use advanced educational tools and the best market conditions.

But is the company really a serious organization and what is behind the benefits of working with it? Is FXB Trading a scam or an honest project? You will get answers to these questions by reading our material.

Trading conditions of FXB Trading

The FXB Trading broker has been offering access to Forex trading to clients since 2016, and despite such a short period of work, already in 2018, according to the information provided on the official website fxbtrading.com, the company was able to win the title of the best Forex broker of the year according to ACQUISITION INTERNATIONAL magazine.

According to the publicly available information, the company provides its clients with trading in currency pairs and CFD-contracts for shares and the world’s leading indices, commodities in the form of oil of two major reference grades and metals. According to English sources, the company recently offered trading in cryptocurrency, but these tools are currently excluded from the product line.

A separate feature of the company, which distinguishes it from its competitors, is the many different ways of replenishment and withdrawal of funds, including exotic electronic payment systems of different countries (there is no replenishment with the help of cryptocurrencies).

The minimum deposit for replenishment in the company begins with 250 dollars. Additional services provided by the company in the form of individual or group training in Forex trading are available only after replenishment of the amount of $1000 and more, trading signals are available only if the amount of money on the account is $5000 and information about special analytics is available only after replenishment of the deposit in the amount of $25 000 and more (full truth about Forex). In the section of free training on the company’s website, unfortunately, all video materials are presented in English.

For new traders who have only started trading on Forex, replenishment of $1000 and more to receive a package of services, including training, always carries significant risks. It will be difficult for such players to work here. And at the same time, the information about the company is also insufficient to consider that the work of the broker is aimed at attracting traders with significant experience, including positive one. Nevertheless, fxbtrading.com offers a lot of different analytics and tools, all this can also be used in trading (market reviews, strategies, signals etc.).

FXB Trading platform

FXB Trading provides traders with the opportunity to trade using the MetaTrader4 (MT4) trading terminal and a newer version of this platform – the MT5 terminal. These platforms are almost identical in functionality, but with a few exceptions. Their distinctive feature is the ability to build charts and work simultaneously with several trading tools without reducing the speed of order execution, options for various analyses, for autotrading, strategy testing, etc. Mobile versions of these terminals for iOS and Android are also presented, as well as their full-fledged web-analogues that allow trading in a browser without the need to install software.

FXB Trading quotations

Providing FXB Trading with profitable trading opportunities for clients, such as fast execution of trades, low spreads and liquidity is not supported by additional disclosure of details and counterparties with which the company cooperates. Moreover, information about the liquidity providers with whom the company works could not be found on third-party resources. Such closedness raises some doubts about its honesty, as the brokerage services market is already becoming the absolute norm in the disclosure of its methods of work, allowing clients to improve their trading results. It is also done in order to inform and retain clients.

FXB Trading demo account

FXB Trading, as well as the majority of similar companies, offers its clients the opportunity to open a Forex demo account in terminals MetaTrader4 and MetaTrader5. However, it is possible to open a free demo account with FXB Trading company only after registration of a real account, which, by the way, is opened automatically, and more than one, immediately after filling out the registration form on the website fxbtrading.com.

FXB Trading mobile application

FXB Trading, as well as the majority of companies providing access to trading on financial markets, has in its arsenal, in addition to the already proven MetaTrader 4 and MetaTrader 5 from MetaQuotes, also the ability to trade using mobile applications (iOS, Android) of the same developer. Also on the FXB website you can download a mobile application – an exclusive development, which is an analytical service that provides trading signals and analytics to clients.

FXB Trading bonuses

FXB Trading broker offers for its clients only one type of bonuses, at least it is declared on the site. It consists in accruing 6% on deposit to new clients when replenishing.

At the same time, the information on the website fxbtrading.com does not allow us to understand exactly how the bonus is credited, and it is not clear whether this service will be provided at a time. Also, in the bonus section, the possibility of receiving a bonus in the form of 2.5% is indicated in several words, but there are no details here. For the sake of fairness, it is worth noting that the English-language version of the site offers a special offer in the form of a deposit-free bonus of $25 for trading with new clients.

Deposit and withdrawal

FXB Trading broker, despite its relatively small experience, can already provide potential clients with a wide range of deposit and withdrawal options. And the most important thing is that when depositing, regardless of the method chosen by the client, the company fully compensates the fees of payment systems, which sounds very tempting and in some sense doubtful.

In particular, these doubts can be supported by the difference in the information provided to the client about the methods of replenishment before and after registration on the site. Thus, before registration on the site on the deposit and withdrawal page there are 31 methods of deposit and withdrawal of funds, on the main page in the block of advantages there are more than 40 of them, and in the personal cabinet when trying to deposit the account there are only 11. You can deposit funds into the system after registration in your personal cabinet in the following ways:

• Plastic cards (Visa, Mastercard, Union pay),
• Electronic payment systems (UPayCard, Payoma, WebMoney, Wire Transfer, Perfect Money, FasaPay, Skrill, paySafeCard, etc.).

Withdrawal methods are absolutely the same as replenishment methods.

Complaints against FXB Trading

Taking into account that FXB Trading is relatively new in the local segment and it is generally a fairly young company, there are no feedback from traders on the platform.

Feedback from the English-speaking segment of the Internet includes, although not enough, negative comments, which are mainly due to lack of confidence in its experience, lack of complete information about trading, etc. In addition, the majority of the authors of reviews call the platform a frank cheater. Those who describe in more detail the history of their relationship with the platform, write that their only mistake was that they believed the managers and invested in the platform their money. It’s too early to make definitely negative conclusions about the broker, but traders interested in working with the project should be more careful with it.

FXB Trading broker regulator

FXB Trading is a trademark owned by FAZCO CAPITAL LIMITED, which is registered in Saint Vincent and the Grenadines. The company has the following licences:

• FSA (№22500 IBC 2015),
• The Financial Commission («A» category).

Usually experts of trading advise to act with caution at work with such offshore brokers. The same at the moment refers to the broker described by us, even though he has the regulation of the FSA organization and, moreover, is a member of Financial Commission (FinaCom) – an independent international company, which provides traders with assistance in dispute resolution.

It is important to realize that FinaCom is in no way a financial regulator. The main regulatory bodies are government agencies that have the legal authority to enforce laws against brokers registered in their jurisdictions. A dispute resolution intermediary such as FinaCom may in some cases assist traders, but it does not have the same power over its members as government regulators.

• Check FSA license on FXB broker website
• Check FXB trading license on The Financial Commission website

FXB Trading User agreement

When starting out with FXB Trading broker, it is important for any trader, and especially the newcomer, to understand the details and characteristics of working with the platform. This will help to avoid negative consequences in the trading process. FXB Trading’s client agreement («Terms and Conditions») at the moment puts a potential non-English-speaking customer at a disadvantage by the fact that all the documents, rules and conditions on the site are published only in English. At the same time, some of the items specified in the English language «User Agreement» are not reflected in the documentation in the version of the website fxbtrading.com in other languages.

Thus, for example, zero commissions declared by the company on the site, which the client can interpret as applicable to any side of work with the company, as otherwise not specified, are immediately crossed out by paragraph 13.1 of the «Agreement», which states that the company deducts a commission for inactivity from the client’s account after the absence of transactions within 90 days. The commission is $25 and its company does not return the client:

Further, paragraph 7.1 of the «Agreement» notifies the client that the company has the right to unilaterally make corrections and change this document:

Well, perhaps, the main, but not the last point of the document is 9, which states that the company provides customers with a wide range of its own services and services of contractors and that it, as well as its contractors, will not guarantee the accuracy, timeliness, accuracy of data:

In the «Agreement» there is still a lot of data with which a trader, who plans to start trading with the company, should definitely get acquainted, because, given the scant content of the site, the main source of information will be working with the manager. And in case if the manager for any reason misses or does not explain the important data, then at some point the trader may be left alone with the new circumstances and it may be too late to return something back.

FXB Trading – is it a scam?

FXB Trading Forex broker positions itself as a company that is actively developing and applying innovative methods aimed at constantly improving trading conditions for its clients. Let’s try to understand, based on the information we have collected, whether it is true or not.

Let’s start with a simple analysis of the website fxbtrading.com, because any trader, first of all, makes a decision to work with one or another broker, studying its website. The first thing that is striking on the resource is that it is not an individual solution, and is made on the template of one of the most common website content management platforms CMS WordPress. The program has a huge number of free templates, and the cost of paid templates varies on average from 100 to 1000 U.S. dollars. This, of course, causes a certain dissonance between the exclusive conditions offered by the company FXB Trading when replenishing the account from $25 000 and the company’s site with a world-famous cost around $1000.

I would like to note once again the «User Agreement», which is presented here only in English, which is also unprofitable for a trader. Due to the fact that there is not much material on the site, it is difficult to work and understand the advantages of cooperation with the project both for a novice and experienced investor. The absence of commissions for depositing the account described on the platform also causes doubts. The commission of a payment system is its direct profit and if it does not receive it from the client who has deposited the account, it should be compensated by means of the broker. If the broker is successful, popular, has a wide experience of work in the market, then «all is well». Therefore, a reasonable question arises as to whether this novice broker is ready to make these payments. It is quite possible that FXB Trading is a scam, which just attracts customers this way and the time will show it.

The company’s experience is also minimal, which stacks cards against it at the moment, although it does not always stop the players starting cooperation with one or another platform. Besides, as we have already mentioned, there are almost no reviews about the broker in the network. In this case, we can only hope that the quality of information on the platform will improve, that it will be more complete and obvious, which will allow the trader to make a clear conclusion that you can work here, that the project can be trusted. The company has too little experience, but all the possibilities to optimize the platform and offer the client a really profitable and interesting project.

Summary

FXB Trading Forex broker is quite a young company in order to draw some 100% conclusions as to whether or not its activities are fraudulent. At the same time, the quality of information provided to potential clients is quite low, which makes them question its honesty. It also forces to build relationships with a broker mainly on trust, which in most cases can lead to negative consequences.

Today we are not ready to assert unequivocally that FXB Trading broker is a scam, a fraud and a fool’s bargain. However, the feedback from the readers of our project will be able to protect traders from possible troubles in cooperation with the company, but it will also have a serious impact on the broker’s rating on the project.