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365FX

365FX
About company:

365-FX is an unregulated CFD and Forex broker.

 

About company. Fund security

In some sources, we found information that 365-FX used to provide binary options trading under the 365 Binary Option trademark, but switched to Forex due to regular pressure on the binary options sector.

 

365-FX is owned and operated by Fintech Software Inc, registered offshore in the Marshall Islands. In the legal information, we also found another name for the firm Oproserv Limited, which is based in London. We checked this company with the FCA register and found no information. The companies are not licensed by regulatory bodies. We advise traders to be careful when trading with these brokers. Since, in the event of bankruptcy, unregulated companies often do not return the initial investment and earnings.

 

365-FX claims to also have offices in New Zealand, Singapore and South Africa.

 

Trading conditions

365-FX did not take proper care of its clients and did not update the Account Types section on its website, and therefore traders do not know in advance the size of the deposit, leverage and other important information.

 

One of the few strengths of the company is its diversified product portfolio. Among the assets there are about 30 currency pairs, oil, precious metals and cryptocurrencies. The latter are very popular now, this can undoubtedly be attributed to the advantages of a broker. But if you are interested in cryptocurrencies, then we recommend choosing a licensed and larger broker for trading.

 

Spreads and commissions

Since anyone, even an unregistered user, can log into the 365-FX trading platform, asset spreads can be seen. So, for the EUR / USD pair, they are fixed at 4 points. This is double what most brokers offer.

 

Trading platforms

The broker offers its services on a web interface that resembles a binary options platform. The terminal does not have any charting tools and advanced features.

 

Most traders will undoubtedly prefer MetaTrader4 trading, which needs no introduction. MT4 has proven its reliability over many years of trading.

 

Education

The 365-FX website has an Education section, which publishes video courses for beginners, ECN traders, social trading, trading tools, CFDs, commodities and futures.

 

Significant services

Despite the fact that 365-FX teaches social trading, we have not found any information that the broker supports this service.

 

Support service

Support is available by phone, fax and email. The broker does not offer online chat rooms.

 

Ways of payment

When withdrawing funds from an account, the broker requires the minimum amount to be 100, however, in what currency is not specified.

 

All withdrawals are subject to a 3.5% service charge.

 

Criticism of traders

On the network, there are often traders' reviews that the broker acts in a fraudulent way: it does not withdraw funds from traders. One thing we know for sure is that 365-FX did not care about the comfort of its clients and did not provide full information about the trading conditions.

 

Pros:

 

diversified portfolio of assets.

 

Minuses:

 

not regulated; high spreads; no MT4; no information on trading conditions.

 

 

365FX is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.

In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.

The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.

What is the benefit of a broker?  

 

The broker 365FX makes profit from traders' transactions, as a rule, in two main ways.

The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.

The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.

Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.

 

Ways to cheat customers  

 

We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.

The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.

Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.

In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.

 

Where are brokerage companies registered?

 

One of the key points is the place of registration and regulation of the company's activities.

Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.

However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.

If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.

But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.

And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization,   considering disputes between its members - brokers and their clients.

If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.

 

What else to pay attention to?

 

When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.

It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.

Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.

Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.

Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.

FAQ - broker questions

  • 1. Do the trader reviews impact on a rating of 365FX ?

    Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker.

  • 2. How to leave a comment about 365FX on the website 4ex.review ?

    In order to leave a review about the broker, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.

  • 3. Can we assume the broker 365FX decent?

    Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. 365FX received a score of 1 of 5 on our resource.

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