EuropeFX – Is it scam or safe?

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The website europefx.com is owned and operated by MAXIFLEX LTD, which currently is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) in the European Union. The CySEC license allows it to conduct financial services, including forex.

However, there are some publications in forex forums that inform about poor customer support, giving the deliberately wrong trading advice, aggressive phone calls, pushing customers to invest more and more. Currently the company is investigated by the Federal Court in Sydney. There is an announcement by the ASIC that on 12 and 17 December 2019, the Court made orders against Maxi EFX Global AU Pty Ltd (trading as EuropeFX) and BrightAU Capital Pty Ltd (trading as TradeFred), both of which are Corporate Authorised Representatives of Union Standard International Group Pty Ltd (trading as USGFX) (AFSL 302792). On 14 April 2020, the Court ordered that any withdrawal of USD50,000 or more by EuropeFX may only be made with ASIC’s prior approval. The lawsuit against the company continues.

So far, we haven’t received any complaints from clients of EuropeFX.

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