Is fxlivetrade2 a scam?

By Anonymous, from United States, January 21, 2022 at 04:17 PM

They are asking me to pay brokers commission before they would release my funds is this legitimate

Answer: Hi Anonymous,

According to the Fxlivetrade2’s website, the broker is located in London, UK. But if we look at the terms of service section, it states that all agreements are governed exclusively by the laws of the State of Georgia, which means the United States. However, we were not able to find the proofs of either British or American authorisation of this company, therefore, must conclude Fxlivetrade2 is not regulated and is not allowed to offer its financial services to the residents in the UK or US. This includes any commissions they require that are not mentioned in your agreement with this company.

We would recommend to stay away from this broker, and most importantly to not invest any more. You can also report about this issue to your local financial regulatory authority, so they can track this broker down and check for legitimacy.

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