FxRevenues aka Fxrevenues.org is a forex broker based in St. Vincent and the Grenadines (SVG in short).
On their website, they claim to allow customers to trade over 1,500 products but don’t give any specific details on what you can trade here.
They only mention that you can trade currencies, indices, shares and crypto on their platform.
For their contact information, the company hasn’t shared much. They only share an office address and a contact number but no license information.
The lack of a license can be a huge red flag for many traders because most unlicensed brokers are either scams or criminal enterprises.
Not sharing any license-related information doesn’t help FxRevenues in the least because it suggests they are a scam. When you’ll look more into this company, you would realize that they are an unreliable company with too many red flags to count.
FxRevenues Reviews on Trustpilot Are Suspicious
The first red flag in FxRevenues is their reviews on Trustpilot. Currently, they have a decent Trustpilot profile with 20 reviews, all of them overwhelmingly positive.
But what bugs me is the nature of these reviews.
All of them are way too similar and they all say the same thing. Moreover, most of the accounts that posted these FxRevenues reviews haven’t posted any other reviews on the platform.
None of these reviews are ‘Verified’ either. Verified reviews are when businesses invite their existing customers to post a review on their profile.
All of this suggests most of these reviews are fake. If you see their reviews closely, you will notice the same red flags I just highlighted.
It’s clear that they have paid some marketing firm to add fake reviews to their online profiles so they seem more credible. Clearly, it’s unethical and shows just how you cannot trust this company.
While talking about fake reviews, I must also point out that FxRevenues shows several “awards” on its homepage:
It’s blatantly obvious that these awards are fake. There is no information whatsoever on who gave them these awards and it seems like the company is trying too hard to seem legitimate.
I would have been happy if the red flags stopped there but no, they keep going.
The next section can be a bit more disappointing for anyone who’s interested in trading with these guys.
At FxRevenues, they offer you 7 account types. With so many account types, you would expect the minimum deposit to be reasonable for the smallest account but no, this company is greedy.
Their minimum deposit requirement is $250, excessively high by industry standards.
This means that if you want to try out their services, you would need to risk at least $250. Scammers use this tactic to maximize their profits per victim.
It’s unreasonable and definitely a red flag.
The account types and minimum deposit requirements are:
- Registration (Minimum Deposit $250)
- Beginners (Minimum Deposit $2500)
- Intermediate (Minimum Deposit $20,000)
- Advanced (Minimum Deposit $50,000)
- Professional (Minimum Deposit $100,000)
- Premium (Minimum Deposit $500,000)
- VIP Club (Minimum Deposit $1,000,000)
If you want to start an Islamic account, the minimum deposit you would need to make is $20,000.
When an unlicensed company is asking for so much money, be alarmed because chances are, they are a scam.
There’s no shortage of scammers in the forex industry either. So, you should avoid signing up here.
Don’t Trust This Forex Broker
I mean it’s obvious, FxRevenues is an unregulated, unlicensed broker from St. Vincent and the Grenadines that asks for $250 just to try out their platform.
Not to mention, the company doesn’t give any information about its trading platform. They use cheap and unethical marketing tactics to deceive consumers into trusting them.
Most of their positive reviews are fake and are just there to make the company seem legitimate.
The company is definitely a scam and you should stay miles away from them and anything related to them.
FxRevenues is a shady forex broker which uses fake reviews and unethical marketing tactics to gain customers. It is an unlicensed and unregulated broker you should stay away from.