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Forexeze Review | Access to more than 71,000 instruments or Scam?

by Kevin Berry
Rating: 
  1.3/5   Reviews: 1
Forexexe - logo

Have you ever seen a CFD broker offering access to more than 71,000 instruments? Well, Forexeze grants access to such a vast number of assets, so it will be interesting for us to explore this platform and find out if there are indeed as many assets available or not. Also, we want to find out if a company registered in Saint Vincent and the Grenadines, as well as in the United Kingdom, can be trusted, or if it’s just another scam. Moreover, the organization claims to have an impressive experience of 40 years. It’s curious, then, why there are so few reviews online?

Highlights

🏛️ Country Saint Vincent and the Grenadines, United Kingdom,
⚠️ Regulation
🖥️ Website https://forexeze.com/
🎲 Demo Account No
⏳ Start Time 2024
💲 Minimum Deposit €250
⚖️ Minimum and Maximum Leverage 1:100-1:300
⚙️ Trading Platform WebTrader
📨 E-mail info@forexeze.com, support@forexeze.com
📞 Phone

First Impression of Forexeze.com

The official website is packed with various facts about the broker’s activity: licenses, statistics, for example, the period of operation, the number of orders processed daily, and other data. Despite all this, the information requires thorough verification, which we will undertake further. Taking their word for it is not recommended.

The website’s design is not impressive. It seems like it was made in a hurry, and not even checked for consistency. Some data contradict each other, for example, one section lists one leverage ratio, and another lists something entirely different. Did Forexeze even review and check what they created?

Forexexe - site

At the top, there are three sections with trading conditions, company information, contacts, legal documents, and additional widgets. Besides English, the site supports several European languages: Italian, Portuguese, German, and French. Thus, it can be concluded that Forexeze targets a European audience.

Partnership and Bonuses

Is there an affiliate program here or not? We do not know because the official website does not mention it. Perhaps, when we look at the account registration procedure and the interface of the personal cabinet, we will see some hints of the presence of a referral program in Forexeze, but at the moment we have nothing.

The situation with bonuses is similar. They are not mentioned on the site, and even a bonus policy is missing. Likely, the broker does not offer them, but we cannot be sure.

Account Opening on Forexeze.com

Next, we need to get acquainted with the personal cabinet interface and its capabilities, and then with the trading terminal. To do this, an account needs to be created. It’s quite fast and simple. Forexeze doesn’t require you to provide absolutely all personal information, just the name, contact details, and password. Also, the user must agree that they are over 18 years old and are not a U.S. citizen.

Registration

After entering the data and clicking on “Registration”, the system opens the client area. The personal cabinet in Forexeze is made simply, without style. It’s a standard portal without graphic design. Judging by the layout, only basic operations are available to users:

  • View current account balances and trading/transaction history.
  • Editing personal data.
  • Uploading documents for KYC.
  • Change password.
  • Deposit and withdrawal of funds.
  • Switching to WebTrader and downloading the platform on Windows/Android.

Forexexe - personal cabinet

An affiliate program is indeed missing, as is a demo account. Yes, we did not find a demo in the personal cabinet, so trying the service without the risk of losing real money is not possible. Forexeze doesn’t seem to be showing any customer orientation.

Verification

The verification procedure in Forexeze is mandatory, and without it, full use of the platform’s services is not possible. The KYC check here is standard. The firm, like other brokerage organizations, asks to provide three types of documents: proof of identity, proof of residence, and a photo of the bank card if it’s used as a payment method. Detailed instructions are written in the personal cabinet in the “documents” section. Overall, nothing new or unique.

We recommend not to hastily provide documents to a little-known and unverified company. First, it’s necessary to study the broker, and then undergo verification if it’s legitimate. Your personal data could fall into the wrong hands.

Pros
  • None.
Cons
  • The broker does not disclose how long the document check lasts.

Trading Software

The broker assures us that it offers trading on the popular platform MetaTrader 4. However, we have certain suspicions about this. Most likely, Forexeze is misleading, and here’s why.

Firstly, we cannot access WebTrader, as the transition opens a login window, but we do not have the data. The company did not send login details to our email. However, re-registration allowed us to get inside, but how will the broker link the personal cabinet and the newly created account? In short, Forexeze creates confusion. You can see WebTrader in the screenshot below.

Terminal

Secondly, links to download the terminal lead to unofficial sources, and only for Windows and Android. What about iOS and Mac OS? By the way, we do not recommend downloading programs from unofficial sources, as they could potentially harm your device.

Thirdly, Forexeze is not found in the list of brokers connected to MetaTrader 4. Therefore, the broker is clearly misleading users when talking about this trading terminal.

Features Forexeze Oanda ToroProfit
Demo Account ✔️
Mobile App ✔️ ✔️
Own Development ✔️ ✔️

How Can I Trade With Forexeze?

We have already mentioned that the firm offers access to more than 7,000 assets: forex, metals, indices, commodities, cryptocurrencies, and stocks. Next, we will take a closer look at the tariff plans and other conditions.

All Info About Accounts

Forexeze offers just 4 types of accounts. The better the tariff, the wider the leverage and the lower the stop-out level. Meanwhile, the minimum deposit for each account type increases: 250 euros for the first tariff, 5,000 euros for the second, 25,000 for the third, and 50,000 for the last. It’s not entirely clear what traders are paying for if the only differences in tariffs are in leverage and stop-out level.

Account types

Forexeze promises traders zero spreads, but does not disclose any commissions. Most likely, it operates a dealing desk, earning not on commissions and spreads, but on the lost deposits of its clients. How can an intermediary offer trading with zero commissions? Only if it profits when traders lose money.

A leverage of 1:100-1:300 is a serious violation of regulators’ requirements. How can Forexeze have a license from the FCA if this financial commission prohibits offering leverage higher than 1:30? Although the website’s homepage states that the maximum leverage is 1:30. Does the broker not know what leverage it offers?

As mentioned above, a demo account is absent, but an Islamic tariff is available. The size of the minimum deposit also gives some food for thought. Firstly, 250 euros is a high minimum deposit; secondly, such a threshold is most often found with scammers.

Pros
  • The swap-free option is available.
Cons
  • Hidden fees.
  • The business model is 100% b-book with conflict of interest.
  • A high minimum deposit.
  • Such high leverage cannot be offered by a regulated broker.

Market Analysis and Education With Forexeze.com

According to the official website, the company offers several educational articles where beginners can learn what spreads are, fundamental and technical analysis, and other topics. In addition, Forexeze provides a table on the homepage with quotes for currencies, stocks, and other assets. The last tool available to all clients is an economic calendar.

The additional service is not impressive. While other brokerage companies create full-fledged educational academies for their traders and have teams of experts who prepare analytical material for clients to trade more profitably and feel confident, Forexeze essentially offers nothing.

Deposit, Withdrawal, and Fees

In the user agreement, it’s mentioned that clients can transfer money using credit/debit cards and bank wire transfers. Additionally, the Forexeze homepage displays logos for Bitcoin, Webmoney, and PayPal.

Deposits are made without commissions, as are withdrawals, except for amounts less than $300. If the withdrawal amount is less than $300, then an administration fee of $30 must be paid.

Features Forexeze TRXprotrade Legends Financial Company
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️ ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee

How Can I Contact It?

Forexeze allows users to contact them via email, with two addresses provided, one for technical support and the other for informational questions. However, we believe there’s no point in writing there, as both email addresses are fake.

Fake email

It’s very strange to see this, given that the broker has existed for 40 years (which is likely fake). Where’s the phone number? Where are the social media accounts and online chat? Oh yes, online chat is available but only for registered users. In general, Forexeze has seriously given itself away with its fake contacts.

Pros
  • None.
Cons
  • Fake contacts.

Is Forexeze Dangerous?

The last point regarding contact information has shown us the true nature of the company. However, let’s not rush to conclusions because we still need to verify more important details. The firm claims an impressive period of operation, licenses, and other aspects of its activity. That’s exactly what we need to check.

How Long Does The Broker Work?

“40 years cumulative experience” seems impressive, but it’s a lie. Why then did the official website’s domain only appear in 2024? Where has it been for four decades? And why are there so few reviews and mentions online? Because Forexeze actually started its operations in January 2024.

Domain

How Is Forexeze Regulated?

In addition to the 40 years, the company boasts that since 1998 it has been under the control of the Financial Conduct Authority (FCA). Let’s check the registry of this British regulator.

The search showed a company named Forexeze Limited. However, judging by the email and phone number, it’s a completely different organization. Our review’s subject might have simply chosen this organization and created its website with the same name, then started to masquerade using another license.

Forexexe - FCA

In the Companies House registry of legal entities, this organization was also found. It was registered in 2018. Here arises the question – why then do the fraudsters claim 40 years of experience? Of course, it’s a lie. The real Forexeze Limited has nothing to do with our broker. Moreover, we found out that the platform was launched only at the beginning of 2024, not in 2018.

Companies House

Lastly, we decided to check the registration in Saint Vincent and the Grenadines, as this jurisdiction is also mentioned in the “Who We Are” section. It turns out that Forexeze is not listed there.

Forexexe - SVGFSA

Features Forexeze TradinBull General Trust Group
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

Kevin Berry
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Expert Opinion

Lol, some failed attempts by fraudsters to create the impression of a serious and respectable broker. Can scammers be so foolish as to not understand that their fake foundation date and licenses could deceive anyone? I think it’s very obvious that such a pseudo-broker can’t have 40 years of experience or a multitude of licenses. It’s merely a parody of a brokerage company, with stolen legal data and someone else’s name. Forexeze is a fake firm where you can’t trade.

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The level of trust
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1 review about Forexeze

Duna March 16, 2024 - 11:53
Typical scambroker
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I know someone who trusted the scammers who created the fake site forexeze.com and gave them $5,000. The person invested all his savings and lost them. Do you want the same? Then don’t get involved in such scams.
He didn’t check all the stated facts but took them at their word. And it turned out to be a fraud. The site is fake, and all the information on it is fictitious and unreal. So, don’t get involved here if you don’t want to lose your money. I hope that the scammers haven’t been able to deceive anyone else out of money, but $5,000 is a very sweet “profit” for them. Best of luck to everyone. Avoid scambrokers!

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