CashFX Group Review: Cash FX Group Forex broker is another case of an unlicensed broker giving a slew of big promises and boasts. As usual, our review takes an in-depth look at the features the broker (cashfxgroup.com) allegedly offers. The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about Cash FX Group.
Table of Contents
Cash FX Group Trading Platform
At first glance, we discover that this broker doesn’t support either the MT4 nor the MT5 trading platform.
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Cash FX Group Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker has no information on account type.
Cash FX Group Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
The payment section only provides a bitcoin address for funding. We do not advise you to send any funds to them as transactions with bitcoin are hard if not impossible to trace or reverse.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is Cash FX Group Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
Cash FX Group is a broker that originates in Panama- an offshore jurisdiction that poorly regulates its financial sector. So this broker isn’t licensed.
To Know if a body licensed a broker. Traders should check regulatory bodies such as the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others.
To get a better understanding of how brokers(both licensed and unlicensed) work, read our review on GrandeFX Trading,Cache Coin, AximTrade, MskFinance.
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Accounts
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
In fact checking this broker, we found that many of its claims were false or unverifiable. We can’t confirm their location, and also, there is a lack of transparency in depositing funds and even a foggier and non-explained process of withdrawing. We don’t advise you to invest with this broker, any attempts to do so we lead to loss of your funds.
I joined Cash fx on september 2021 investing $15k .I earned constantly and could upgrade to the $25k pack and then to the $50k . After trading and making so much profit, withdrawals suddenly became very difficult. It says on their website that fund withdrawals will take around 3 days. I messaged support but no positive response until August 2023, I recovered my money with the help of a triangulation expert. Frecuperation Tech is the best tech expert you need to help you recover your scammed or lost funds. They can be contact on email [email protected]
I invested $65k with Pocket Option, and they refused to release my deposit and profit, then was asked to verify my address which I did, 2 weeks down the line, I didn’t get my money. I kindly ask anyone who reads this review not to invest on this platform. I was able to recover my money by getting in touch with [email protected]. They are highly recommended by me. They helped me recover my lost fund which was taken from me by those frauds.
Please everyone should be careful and stop being deceived by all these brokers and account managers, they scammed me over $350,000 of my investment capital, they kept on requesting for extra funds before a withdrawal request can be accepted and processed, in the end, I lost all my money. All efforts to reach out to their customer support desk had declined, I found it very hard to move on. God so kind I followed a broadcast that teaches on how scammed victims can recover their fund, I contacted the email provided for consultation, I got feedback after some hours and I was asked to provide all legal details concerning my investment, I did exactly what they instructed me to do without delay, to my greatest surprise I was able to recover my money back including my profit which my capital generated. I said I will not hold this to myself but share it to the public so that all scammed victims can get their funds back. Contact; silvanatenreyro at gmx dot com
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I decided to leave a review about Cashfx, because this might be helpful. I invested about $67,000 into this platform with the aim of diversifying my trading portfolio. However, with my strict habits of growing my account 100% before taking profits, I never attempted any withdrawals, not until two months when I tried to withdraw but all effort was in vain. I called the account manager and explained the situation, he told me I would be able to withdraw after 4 working days which sounded shady to be very honest. 4 days went by, still no withdrawals. I did research about recovery tech and came across Frecuperation. They are best in dealing with online scam and assisting victims in receiving reimbursement, tracking down digital fingerprints, cyber analysis and thorough investigation. They can be contact on email frecuperation .online
Everyone has to be guided. A lot of scammers are out there taking money from innocent traders. I was a victim to this scam crypto broker that made me lose my hard earned funds. I reported to dorisashley71 at gmail com and she was able to fight back for my funds now I have my funds fully recovered You can as well write to their support team +351 968 942 567