8inFX Review Scam Complaint
8inFX Review – An Introduction
8inFX is a Forex and CFD trading broker that is not a regulated broker. There is no information available regarding the details of 8inFX Brokerage Company, like where is it situated and who are the owners of the company. Even on its official website when you go at the bottom you can see a disclaimer that, the sponsored Listings displayed above are served automatically by a third party. Neither the service provider nor the domain owner maintains any relationship with the advertisers. This indicates the broker is a clear scam. So, if you are thinking to trade with this broker just go through the complete review and give it a second thought.
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About the 8inFX:
8inFX offers four types of accounts to its clients; those are namely, Micro Account, Standard Account, Premium Account, and VIP account. The broker also offers an Islamic swap-free account. All of these accounts are provided with variable spreads on MT4 platform. 8inFX doesn’t charge commission on Micro and Standard account. Also, the spreads float around 1.2 to 1.4 pips on EUR/USD in two accounts. Like most other brokers, 8inFX also uses the popular forex trading platform, MT4. Talking of the range of CFDs available with the broker, 8inFX offers wide range of CFDs and currency pairs. It also includes digital assets like Bitcoin, Litecoin, Ethereum, Ripple and Dash.
As mentioned earlier, the website of 8inFX doesn’t share much about the company with public. When you will visit its ‘about us’ section you can only find vague claims and promises along with their missions and goals. Nothing related to the owners and its license is mentioned, so it’s definite that they are operating without any license. An Italian financial regulator CONSOB has issued warning against the company, therefore it is advisable to avoid 8inFX.
Is 8inFX legit or scam?
Although the broker seems to have strong list of products and services like MT4, but it is an offshore unregulated broker. It seems dubious and hence unreliable. The biggest concern apart of regulatory status is its hidden corporative details which creates suspiciousness. It is a scam broker and your money is not at all safe with them. Brokers those are regulated by the concern financial authorities are safer because they are required to meet certain lawful requirements, which ultimately provide safety to the traders and their money. Therefore, you are advised to not trade with 8inFX.