EmpireFXM Review – Is EmpireFXM a Scam?
If you’re thinking of joining a new FX broker, you’ve probably come across the EmpireFXM review. But what can you expect from this website? Is it a scam? Or is it just a phony broker? If you’ve read this far, you’ll know that there are several red flags that indicate that EmpireFXM is a fake broker. Read on to find out whether this broker is worth signing up with.
Unreliable broker
While the company claims to be one of the world’s most reliable brokers, their regulatory status is questionable. Unregulated brokers are unlikely to have any regulations that protect them from abuse or exploitation of their customers. They will likely get away with stealing your money and never pay you back. Be wary of such an unreliable broker, and avoid it like the plague. Below is a review of Empire FXM.
Before you sign up with this unregulated broker, make sure you read up on the company’s background. Empire FXM is registered in the Marshall Islands, which has no financial authority. Anyone can open a company in the Marshall Islands, so it’s not unusual for people to do so on the internet. They don’t even provide their address or physical office. You’ll never know if they’re a scam or not until you try them out for yourself.
When opening an account, Empire FXM may ask for a fee for inactivity. While legitimate brokers don’t charge this fee, they might charge you for a banking fee, which you can avoid by looking elsewhere. You should be aware that you can get a standard account for less than $250 if you know where to look. A Micro account costs $250, while a Standard account requires $2500. The latter option is preferable if you are a beginner.
Big inactivity fee
There are a few things you should know about Empire FXM before you sign up for their services. For one, they charge a massive inactivity fee. Legitimate brokers rarely charge inactivity fees, and they aren’t the only downside to Empire FXM. While there isn’t a withdrawal fee, you do have to pay $30 for each transaction. You also have to pay for banking fees. If you’re not in the market to trade all of the time, you may want to think twice before you sign up with them.
No demo account
If you are an investor looking for an unregulated broker, you should avoid Empire FXM. This offshore broker has no regulation and no demo account. In addition, there is no physical office in the Marshall Islands and no contact details for the company. Despite the fact that this company has a lack of regulatory credentials, it is a scam and should be avoided at all costs. Read on to learn why. Here are some ways to spot a scam broker.
A reliable location address is one of the most important features of a trustworthy company. While the site does not feature a live chat feature, customers can contact them via email. Providing an email address is a great way to ensure a smooth user experience, but you should also expect to receive an instant response from customer support if you have a problem. The lack of live chat and demo accounts may cause you to lose money, but there are ways to avoid this problem.
There are many reasons to trade. Demo accounts are a great way to practice. If you are an investor who is nervous about losing money, a demo account is the perfect tool to practice your strategies in a virtual environment. Demo accounts are also beneficial for practising, because they allow you to open positions and adjust them without the risk of losing money. Ultimately, demo accounts will teach you what to do in stressful situations.
