FXActive Review: FXActiv Forex broker is another case of an unlicensed broker giving a slew of big promises and boasts. As usual, our FX Active Review takes an in-depth look at the features the broker (fxactiv.io) 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 FXActiv
Table of Contents
FXActiv Trading Platform
This broker claims to provide the Metatrader 4 but the download links on its website leads to another. It leads to a distribution of Metatrader 4 owned by another company.
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Leverage: 1:100
High leverages are a double-edged sword in the sense that a trader can make a huge profit if the trade falls in the right place but that also means that the trader can also lose a huge sum if the reverse is the case. Regulatory bodies have put a cap on leverages for brokers. But unregulated brokers lack this capped leverage. We do advise restraint if you ever come upon a broker with leverage exceeding 1:30, especially if you are new to the market
FXActiv 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 six account types.
FXActiv 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.
Credit cards, debit cards, and wire transfers
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 FXActiv 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.
Aside from the fact that FXActiv doesn’t give any licensing information, we cannot ignore the fact that this Broker resides in the Dominican Republic . Dominican republic is a place that attracts shady brokers because of their lack of proper licensing laws and a regulatory body.
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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Minimum Trade Deposit $100
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Minimum Trade Deposit $100
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
We wouldn’t recommend using this forex brokerage, they do not impress us with the vague information they have provided.
In conclusion, we would not advise or recommend you to trade with FXActiv , as they don’t give any valid information concerning if they are a regulated broker, Leading us to the conclusion that they are not.
Trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.