Officially, FXLift is a legit brokerage. However, since we discovered their offshore entity, logically, we did have questions. We wanted to know whether FXLift is regulated offshore, how it operates, and what clients should do if they are scammed.
Read our honest FXLift review and get the answers to all of your questions.
- But firstly, we want to invite you to read our recently updated InstaForex and AG Markets scam broker reviews. Your funds are in danger with them!
|Broker Status:||Offshore Regulated|
|Scammers Websites:||FXLift.com and FXLift.eu|
|Operating Status:||Alleged Forex Scam|
|Blacklisted as a Scam by:||N/A|
|Broker Owner:||Notesco Financial Services Ltd|
|Online Trading Platforms:||MetaTrader (MT4)|
|Minimum Deposit:||Not Set|
|Crypto Assets:||Not Available|
|Available Trading Assets:||Forex (FX), Commodities, Shares, Indices, Futures|
|Maximum Leverage:||1:30 (1:1000 on offshore entity)|
|Islamic Account:||Not Available|
|Free Demo Account:||Yes|
|Accepts US Clients:||US traders are not accepted|
|Global Fraud Protection Experts’ Verdict:||Don’t Invest in This Scam Broker!|
FXLift Regulation – Is the Broker Legit?
FXLift is an online trading brokerage owned by Notesco Financial Services Ltd, registered in Cyprus. Accordingly, the broker has a CySEC regulation number 125/10. Besides FXLift, the same owner has another brand, IronFX, suspected of fraud.
However, what worries us the most is the fact that Notesco Limited is a company registered in Bermuda with an offshore entity there. Since having an offshore company usually means conducting a scheme, we’ve checked whether this entity is legit and what clients could expect.
Questions to FXLift License – Reputation Problems
Despite being an offshore country, Bermuda does have a financial regulator, BMA. However, once we checked it looking for FXLift regulation, we found nothing. This means that the company’s offshore entity is unregulated, while their domain fxlift.com is not listed on CySEC’s website as approved.
FXLift Login Problems – One Of The Signs Of A Scam
There are several signs of online trading scams. If your broker is trying too hard to persuade you to invest your money, doesn’t respond to your emails and calls, or rejects your withdrawal request, you should start being suspicious. However, according to FXLift reviews, it looks like this broker is also suspending clients’ accounts. How does it look? After you try to log in to your account, you will see an error or login issue.
If the issue lasts for several days in a row and you cannot contact support, let us know. You’re probably being involved in a scam, and your money is at high risk.
FXLift Trading Platform Review – Trading Software
As it suits a CySEC regulated broker, the FXLift trading platform is an MT4. It’s the best platform in the industry and a favorite choice among investors. It offers a dynamic security system, making your funds safe, a vast number of trading signals, charts, and indicators, online streaming news, and activity reports.
Using this platform, you can follow all of your previous actions, find possible mistakes, and improve your performance on the market. Besides, it’s available for both Mac and Windows, which is a huge advantage. You can use MT4 as an app or as a web trader.
FXLift App – iOS & Android Trading
Of course, besides desktop versions, there’s an MT4 app for Android and iOS mobile devices as well. It provides all order and execution types, technical indicators, trading history, real-time quotes and is simple to use.
In Which Countries Does This Broker Work?
Again, we have come to the difference between a CySEC regulated entity and an offshore one. As a CIF, the broker can provide financial services in the EEA zone, limited services in the UK since it’s on a temporary regime without an FCA license. Also, it can operate in China, South Africa, South Korea, and Japan since it complies with the trading regime. FXLift broker strictly forbids providing services in the USA, Iran, Cuba, Sudan, Syria, and North Korea.
On the other hand, an offshore entity is entirely unregulated and operates in almost all areas, including Australia, New Zealand, Canada, and more. Restricted areas for this entity are the same as for the regulated one.
What Can You Trade With an FXLift Broker? – Range of Trading Instruments
According to the broker’s website, it offers over 300 trading assets, including:
- Most popular global shares
- Currency pairs – both majors and minors
- Commodities – metals and spot commodities
- Spot indices
There’s no list of assets, but clients can check everything on FXLift’s Demo account. Trading conditions depend a lot on the fact whether you’re trading with a regulated or unregulated entity. The CySEC entity provides leverage of up to 1:30, while an offshore entity enables clients to have up to 1:1000.
FXLift Account Types – Trading Accounts
There are 3 different account types:
- Live floating – Standard
- Live floating – Gold
- STP/ECN No Commission account
The first two accounts have a floating spread starting from 2.1 to 1.7 pips and leverage up to 1:1000, while STP/ECN account provides a fixed spread of 1.8 pips on average and leverage up to 1:200. FXLift minimum deposit is not determined and depends on the client.
However, if you want to have more perks and advanced support, the minimum to invest is $5,000.
FXLift Demo Account
FXLift broker provides Demo accounts along with Live accounts. Clients have a chance to test the platform before investing real money and get introduced to an MT4 in case they have never traded before. However, you should be aware since you’ll be provided with offshore trading terms on a Demo account, meaning too high leverage that might distort your perception of the market.
FXLift Withdrawal Issues – Unable to Withdraw Funds
Reportedly, lots of clients have had withdrawal issues and filed a complaint against the FXLift forex broker. Once they signed up, they were approached to invest funds and then transferred to an account manager. This account manager persuaded them to invest more funds until they had nothing left or didn’t want to make further investments. After submitting withdrawal requests, they’ve got lots of excuses, just for their account to be suspended in the end.
Since the broker has a discretionary right to decide which entities to assign you, you might easily end up with an offshore one without a regulator to complain to.
Scammed By FXLift Broker? – Talk To Our Experts Today!
If you recognize yourself in our story, you have login issues, are unable to withdraw funds, or similar, contact us immediately. Suppose you have been scammed by FXLift or a similar bogus broker. We need to act fast, file a dispute, and charge back the fraudulent transaction.
Remember that a chargeback is a time-limited process and you need to act as fast as possible. Contact us via online chat, book a free consultation, and let’s get your money back now!
Don’t Let the Scammers Go Away for Free!
What Is FXLift, And Should I Invest Money In It?
To be clear, this is an online trading brokerage from Cyprus with an offshore entity in Bahama that you should avoid.
Is FXLift Safe?
FXLift broker has an unregulated offshore entity in Bahama. Therefore, it’s not safe.
Which Assets Does FXLift Offer?
Broker offers trading with currency pairs, commodities, indices, shares, and futures.