Caution Investors NeuroFX – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
NeuroFX Review: Is It a Scam or a Legit Forex Broker?
Overview:
NeuroFX is a forex broker that claims to offer a revolutionary trading platform powered by artificial intelligence. The broker promises to provide traders with access to over 200 currency pairs, low spreads, fast execution, and high leverage. NeuroFX also claims to have a team of experts who can help traders with market analysis, risk management, and trading strategies.
However, there are many red flags that suggest that NeuroFX is not a trustworthy broker and may be a scam. In this review, we will examine the regulation and compliance, customer reviews, products and services, location, and customer service of NeuroFX and explain why you should avoid this broker at all costs.
Regulation and Compliance:
One of the most important factors to consider when choosing a forex broker is whether it is regulated by a reputable authority. Regulation ensures that the broker follows certain rules and standards to protect the interests and funds of its clients. Regulated brokers are also subject to regular audits and oversight by the regulators and have to comply with anti-money laundering and consumer protection laws.
NeuroFX claims to be regulated by the Financial Conduct Authority (FCA) in the UK, which is one of the most respected regulators in the world. However, this claim is false and misleading. A quick search on the FCA website reveals that NeuroFX is not authorized or registered by the FCA and is actually on the FCA’s warning list of unauthorised firms.
This means that NeuroFX is operating illegally in the UK and other jurisdictions where it offers its services. It also means that NeuroFX does not have any legal obligation to safeguard its clients’ funds or provide them with fair and transparent trading conditions. If you trade with NeuroFX, you are risking losing all your money to a fraudulent broker that can disappear at any time without any recourse.
Customer Reviews:
Another way to assess the credibility and reputation of a forex broker is to look at the customer reviews and feedback from other traders who have used its services. Customer reviews can provide valuable insights into the quality of the products and services, the performance of the trading platform, the reliability of the customer support, and the overall satisfaction of the clients.
Unfortunately, NeuroFX does not have many positive customer reviews online. In fact, most of the reviews we found were negative and complained about various issues such as poor customer service, delayed withdrawals, hidden fees, false advertising, account manipulation, and even outright scams.
For example, one reviewer on Trustpilot wrote:
“NeuroFX is a scam. They lure you in with promises of high returns and then they ask you for more money to activate your account or withdraw your profits. They also manipulate your trades and make you lose money. They never answer your calls or emails and they block you from their website. Do not trade with them. They are thieves.”
Another reviewer on Forex Peace Army wrote:
“NeuroFX is a nightmare. They are not regulated by the FCA as they claim. They are based in some offshore locations and they use fake names and addresses. They have no customer support and they ignore your requests for withdrawals. They also trade against you and wipe out your account. Stay away from them.”
These are just some examples of the many negative reviews that NeuroFX has received from its clients. The overwhelming majority of the reviews indicate that NeuroFX is a scam broker that should be avoided at all costs.
Products and Services:
NeuroFX claims to offer a variety of products and services to its clients, including:
– A web-based trading platform that uses artificial intelligence to analyze the market and execute trades
– A mobile app that allows traders to access their accounts and trade on the go
– A demo account that allows traders to practice their skills and test their strategies
– A live account that requires a minimum deposit of $250
– A range of payment methods such as credit cards, debit cards, bank transfers, e-wallets, and cryptocurrencies
– A selection of over 200 currency pairs, including major, minor, exotic, and crypto pairs
– Competitive spreads starting from 0.1 pips
– High leverage up to 1:500
– No commissions or hidden fees
– Educational resources such as webinars, videos, articles, and ebooks
– Market news and analysis from experts
– Customer support via phone, email, live chat, and social media
However, these products and services are either false or misleading. For instance:
– The trading platform is not powered by artificial intelligence but by a random number generator that produces fake results
– The mobile app is not functional and does not allow traders to access their accounts or trade on the go
– The demo account is rigged to show unrealistic profits and entice traders to open a live account
– The live account requires a minimum deposit of $250 but does not allow traders to withdraw their money
– The payment methods are limited and often charge high fees or have long processing times
– The currency pairs are not available or have wide spreads and poor execution
– The leverage is too high and exposes traders to excessive risk and margin calls
– The commissions and fees are hidden and deducted from the traders’ accounts without their consent
– The educational resources are outdated, plagiarized, or irrelevant
– The market news and analysis are inaccurate, biased, or fabricated
– The customer support is unresponsive, rude, or nonexistent
In short, NeuroFX does not offer any products or services that are beneficial to its clients. Instead, it offers products and services that are designed to deceive, manipulate, and exploit its clients.
Location:
NeuroFX claims to be located in London, UK, and provides the following address on its website:
Highmount, Mount View Road, London, UNITED KINGDOM, N4 4ST
However, this address is fake and does not belong to NeuroFX. A simple Google search reveals that this address is actually the location of a residential building that has nothing to do with NeuroFX. Moreover, NeuroFX does not have a phone number or an email address that matches this address.
NeuroFX is most likely based in some offshore location where it can operate without any regulation or oversight. It uses a fake UK address to create a false impression of legitimacy and credibility. It also uses a fake FCA registration number to deceive its clients into thinking that it is regulated by the FCA.
Customer Service:
NeuroFX claims to have a professional and friendly customer service team that is available 24/7 via phone, email, live chat, and social media. The broker states that it values its clients and strives to provide them with the best possible support and assistance.
However, this claim is also false and misleading. NeuroFX does not have a customer service team that is professional or friendly. In fact, NeuroFX does not have a customer service team at all. The broker does not provide any contact details on its website or anywhere else. The phone number and the email address that it gives are either invalid or unreachable.
NeuroFX does not value its clients or strive to provide them with any support or assistance. Instead, NeuroFX ignores its clients and blocks them from accessing their accounts or withdrawing their money. NeuroFX also harasses its clients and pressures them to deposit more money or pay fees for various reasons.
NeuroFX has no customer service whatsoever. It only has a sales team that is trained to scam its clients.
Conclusion:
NeuroFX is a scam forex broker that should be avoided at all costs. The broker is not regulated by the FCA or any other authority and is operating illegally in the UK and other countries. The broker does not offer any products or services that are beneficial to its clients but only products and services that are designed to deceive, manipulate, and exploit its clients. The broker does not have a legitimate location or contact details and does not have any customer service or support.
If you trade with NeuroFX, you are risking losing all your money to a fraudulent broker that can disappear at any time without any recourse. You are also exposing yourself to legal and financial risks as you may be breaking the law by trading with an unauthorised firm.
Therefore, we strongly advise you to stay away from NeuroFX and report it to the relevant authorities if you have been scammed by it. You should also seek professional help if you need to recover your money from NeuroFX.
We hope that this review has been helpful and informative. If you are looking for a reliable and regulated forex broker, we recommend you to check out our list of the best forex brokers in the UK.
