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WikiFX report: Is EmpiresX scam or legit broker?
Abstract：EmpiresX is an offshore broker that is not authorized in its region by any reputable regulatory organization. The broker can operate in many countries without being regulated by a reputable regulatory authority in that country, such as CySec, ASIC, FCA, CNMV, and so on. However, regulation cannot be the main grounds for labeling this broker a swindler. Many EmpiresX complaints and unfavorable Broker reviews, as well as other probable scam elements, could all be contributing factors. If you trade with EmpiresX, your money may not be safe.
EmpiresX is an offshore broker which is not regulated by any reputed regulation authority in its region. The broker may operate in many countries without the regulation required by the reputed regulation authority in its country like CySec, ASIC, FCA, CNMV etc. But regulation cant be the only reason for calling this broker as a scam. Many EmpiresX complaints and negative Broker reviews and other possible scam features can also be the reason. Your funds may not be safe if you are trading with EmpiresX.
Possible scam activities of scam broker EmpiresX
Here are some of the possible reasons why we have flagged EmpiresX as a scam broker in this EmpiresX review.
The broker may have made a number of false claims through its website.
The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
The EmpiresX makes continuous calls to the traders and urge them to invest higher and higher amounts.
The broker promises return which are too good to be true.
The risk warnings may not be disclosed on their webpage or that would be hidden.
The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are haven for the scam brokers.
EmpiresX provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals and ultimately you are not able to make withdrawal.
Broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes name and website URL without any notice to existing traders.
Negative EmpiresX Reviews and EmpiresX Complaints
EmpiresX has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed EmpiresX in the list of scam brokers 2021.
Is EmpiresX scam or legit broker？
ReportScam does not recommend traders to trade with EmpiresX and your funds may not be safe with this broker and EmpiresX review is negative. Instead look for regulated and reputed brokers who can really help in growing your investments.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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