Efxtm.com Review: Broker is a Copycat Fraud - Topedgefx.com

Efxtm.com Review: Broker is a Copycat Fraud

Efxtm is a fraudulent broker operating its business from the web address Efxtm.com.

It would be risky to include such a bogus website on our list of the most reputable Forex brokers worth investing with.

First of all, Efxtm is not related to the popular Forex broker, FXTM.

However, you can clearly see that the culprit website is even sharing same logo as FXTM.

This is just a trick to confuse clients and make them think that they are dealing with the genuine FXTM.

Their promotion materials even claim that Efxtm.com has been serving clients since 1986.

In another part of the website, they claim that they’ve served clients for the last 10 years.

These contradicting details suggest that whoever is running this fraudulent website is actually not paying attention to what they are telling clients.

Furthermore, Efxtm is giving a London physical address but on their contact page, they have an address pointing to Jakarta. What a mix up?

They also seem to have forgotten to provide a proper contact email, which is why they are using something as generic as hello@company.com.

I doubt if clients can use this email to deliver their message to the broker.

Chances are that the website is still being worked on.

Nevertheless, these findings are quite disturbing.

In fact, the website is providing all kinds of red flags which are difficult to sweep under the carpet.

What does Efxtm sell?

They purport to provide over 40,000 financial instruments for trading.

This is quite a variety but again you can’t trust a broker that is telling lies on every page of their website.

efxtm broker review

The financial instruments they purport to provide include Forex, CFDs, Stocks and Commodities.

They have not talked about whether they provide multiple account types for different traders.

It appears that there is only one account with a minimum deposit of $1,000.

This financial requirement is also very high and unusual as most established brokers will accept deposits as little as $100.

Furthermore, a broker that wants this kind of financial commitment is definitely suspicious.

They should first focus on building their reputation and proving that they are not a scam.

As always, they also claim to provide the popular MetaTrader platform.

The benefits of this platform are obvious since the company has always been treated as the pioneer of charting.

Lastly, Efxtm also claims that they will provide traders with daily market analysis and trade inspiration.

I would like to know who these traders are and what level of experience they have in trading.

As you can see, Efxtm is not a trustworthy broker. You just don’t take their word for it.

Efxtm is not a regulated broker

Their website states that they have an FCA license.

However, this license cannot be found anywhere on their website. The FCA database does not have the name of this broker either.

Clearly the person running Efxtm is making a fool of himself.

If they can’t provide reliable information, nobody will trust them.

Furthermore, all traders know the benefits of trading with regulated brokers.

I don’t know what kind of incentive that Efxtm will lure traders with if they are not even regulated in the first place.

Company execs are stock photos

This is quite embarrassing. Efxtm is presenting their ‘team’ in the most ridiculous of ways.

Every picture in their profiles page is a stock photo.

The accompanying texts are Lorem Ipsum, meaning generic wording that come with a template.

This is to say that the broker is not honest about the people who run the website.

Every information that they give is false. It is clear that they are not transparent and do not wish to introduce themselves to traders.

Misleading Promotion

Efxtm misleads investors by claiming to have won multiple awards and even featured on major news outlets such as CNBC.

It should be fairly simple to identify these lies across the website and on verify them by simply visiting links in those badges.

However, I can confirm that those awards cannot be verified.

There are no links that can take you to the articles that were published in the various news websites.

Where are reviews or feedback to support Efxtm?

This broker does not have a single customer feedback to their name despite proclaiming many years of experience.

Isn’t this a weird thing?

That a broker with 10 or 30 years (as they claim) has never found even a single client who can review their service?

Truth is that if there are no reviews, don’t trust them with your $1000 as they will scam you.

Conclusion

Efxtm’s website has red flags everywhere you look.

The website is incomplete and whoever manages it does not show any interest to fix it.

And they are not regulated. No Forex broker will be genuine if they are not under some kind of regulation.

That said, we conclude by reaffirming that Efxtm is a scam broker.

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