The offshore FX and CFDs broker FlixGM provides trading with seven accounts with a variety of trading assets. The site looks from the future but in reality, it crashes within the seconds of surfing on it. Furthermore, its legit nature is a fact of concern. We will take you to the tour of this futuristic broker in this scam broker review.
The offerings of FlixGM are quite broad according to the tradable instruments. The traders are offered with several FX pairs and CFDs on indexes, products, gold, silver, platinum, shares, Cryptos and EFTs. This wide variety of trading assets minimizes risk with the help of portfolio diversification. It also offers trading in a competitive environment with leverage of up to 1:200. This solid leverage can attract many traders and fulfill their trading needs. But this leverage also has its own downside.
The offshore Seychelles based firm Altridium Group Inc is the owner of FlixGM. Seychelles Island is situated in the Indian Ocean and no financial regulation oversees any brokerage operations. This means the trader’s investment does not carry any guarantee of its security. Also, several unregulated brokers are involved in scam practices. Traders are advised to be cautious while trading with such brokers. As discussed this broker is not regulated also means it is not licensed as well. Furthermore, it tries to target traders from the EU and being blacklisted by the Financial Services and Markets Authority of Belgium. The authority warned investors about its unlicensed and unregulated character and risk associated with the investments.
Also, the spreads provided on euro/dollar FX pair is around 2.8 pips. This spreads increases the cost of trading and is unattractive. But fortunately, these are in accordance with the spreads provided by many scam brokers. This gives us the insight of this broker’s true nature. FlixGM does not want traders to earn a profit. According to terms and conditions featured on the website of FlixGM, it does not follow any time frame to process the withdrawal request. Also, it charges Euro 25 + 1% on the withdrawal amount.
Is FlixGM scam or legit?
The futuristic website of this broker is very catchy but also shady. The offered trading conditions are unrealistic. The spreads and leverages are in accordance with many scam brokers. The withdrawal conditions are also similar to many scam brokers. Seychelles based unregulated offshore nature always possesses a high risk. We would like to treat FlixGM as a potential scam broker.
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