FXU Solutions review – 5 things you should know about fxusolutions.com

FXU Solutions review – 5 things you should know about fxusolutions.com

Rating: 1

Beware! FXU Solutions is an offshore broker! Your investment may be at risk.

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The greatest lesson to learn from FXU Solutions is how to recognize a scammer broker from scratch. Most of what we found out here points to this company being unlicensed, and we knew this the moment we opened its website. There is quite a low to chew from, but if you isolate certain bits and pieces you will discover just how conspicuous FXU Solutions. The trick is to know where to look at. FXU Solutions has a lot to say, but very little of what it says matters. Read the review to find out more.

With such brokers, it’s always best to register, if possible, and take the trading details from the user area, because you don’t know what kind of things you might find on the website.

Unfortunately, we never received a confirmation email, and therefore were not able to login. Therefore, all the trading details are taken from the website, a source not to be fully trusted with sensitive info.

The broker allows for trading with forex currency pairs, spot metals, spot indices, stocks, and commodities. The general spread is indicated as being 1 pip (there are third party charts around the website that reveal irrelevant trading details), while the leverage is capped at 1:2000. This leverage is very dangerous to handle.

The website is available only in English.

FXU SOLUTIONS REGULATION AND SAFETY OF FUNDS

We find a mention on the website that the firm is licensed by both by the FCA and the FSC of Mauritius, yet the way this info is revealed is as if though it were not important. Moreover, there is simply not a glimpse of evidence into this. Saying something does not make it true. We checked for a license directly from both the FCA and FSC, and were not surprised to leave empty-handed.

And anyway, the main claim of FXU Solutions focuses on a completely different assumption. The broker is incorporated in St. Vincent & the Grenadines as an International Broker Company, or so it says. The validity of this info does not really make a difference because Saint Vincent and the Grenadines do not have an FX regulator. Even if the company is registered there is still is unlicensed there.

As we said, FXU Solutions offers a very info-heavy website that really covers its steps with the amount of text and subpages it includes. 70% of these are completely unnecessary, and FXU Solutions uses them simply to cover its tracks.

With all that said, we have to conclude that FXU Solutions is unlicensed and a risk to all traders.

Perhaps the most crucial move a user can make in the process of deciding what broker best suits her needs is to ascertain that the broker is regulated, properly, by a legitmate license issuer (there is a rise in fake regulators). Make sure your broker of choice is a UKEUUS, or Aussie-licensed entity; there are other perfectly fine jurisdictions where a firm can be authorized, it’s just that these ones are the most developed in terms of providing the best possible trader security. Moreover, some specific regulators also allow for their regulated brokers to participate in compensation schemes which add a very sturdy extra layer of defense. The FCA guarantees up to £85 000, while CySEC guarantees up to €20 000 per person.

FXU SOLUTIONS TRADING SOFTWARE

There are two major platforms promoted: and MT5 and a FUX Trader alongside a plethora of trading tools.

There’s just one problem: as unregistered users, we had no way to make sure that these softwares are actually a part of the broker. There was no way to access them from the website, which tells us that probably there is no trading software or a completely different one to registered users.

Perhaps the most crucial move a user can make in the process of deciding what broker best suits her needs is to ascertain that the broker is regulated, properly, by a legitmate license issuer (there is a rise in fake regulators). Make sure your broker of choice is a UKEUUS, or Aussie-licensed entity; there are other perfectly fine jurisdictions where a firm can be authorized, it’s just that these ones are the most developed in terms of providing the best possible trader security. Moreover, some specific regulators also allow for their regulated brokers to participate in compensation schemes which add a very sturdy extra layer of defense. The FCA guarantees up to £85 000, while CySEC guarantees up to €20 000 per person.

FXU SOLUTIONS DEPOSIT AND WITHDRAW METHODS AND FEES

All of the following payment details are quoted from the website. Please be aware that there is always a difference between the website and the user area. So what we are about to reveal is probably half the truth.

The minimum deposit requirement is $100. The payment methods are allegedly credit cards, debit cards, a whole ton of alternative payment methods, and wire transfer.

There is a 3% withdrawal fee applied when a user does not trade prior to withdrawing.

We have to give this broker credit for including some relevant payment info, even though we cannot really trust it. What remains is the truth that FXU Solutions is not licensed, and is, therefore, a risk to all users.

How Does The Scam Work

We can easily reverse-engineer the scammer process by looking at the whole thing as a series of contained events.

The first of these is falling for one of the thousands of online ads that lead to any number of fraudulent investment websites. The most obvious aspect of such ads is their ability to attract the eye gaze of users since they include glamorous content that we have all dreamed of owning.

Giving in to one of these ads will lead the user to one of two sources: either a so-called intermediary website or the scammer brokerage itself. The former works to introduce the latter, so the principle remains generally the same. The second step ensues once the user provides the crucial contact details that will be used by the firm to solicit funds. Because they are crucial to the scheming process, the broker will put a lot of input into this effort.

The third event is establishing grounds for communication, and a pivotal point for recruiting the user as a depositor. The first deposit is the hardest to sell, and that is why most scammer brokerages have dedicated internal departments whose only job is to entail a preliminary investment.

The fourth even is up to the retainers, or the expert scammers – account managers-, whose job is to keep the user invested as long as possible and to drain as much money out of her. Here is where many, unbeknownst to the user, psychological tricks are used by the scamming experts to really deplte funds from accounts.

The final step is containing the damages,  or to put it in the lingo of the perps- to keep the stolen mon ey with minimal collateral damage. Here is where the scammers get cheap. Many will simply ignore the requests of withdrawals- or simply stall them-, or can shut down accounts and even entire websites for the purpose of keeping what they have stolen.

What To Do When Scammed

Fiel for a chargeback! It’s the surest way to get your money back, although not many scammer brokers allow for credit/debit card deposits. They are aware that users can file for a chargeback, and therefore condemn it by either not including cards payment gateways or by penalizing the client when she files for one. Note that,  VISA and MasterCard have extended their cash-back period to 540 days.

A popular payment method is bank transfer, and here is where things get tricky. Users should contact the bank to help them out if they get scammed, but there is no real guarantee that the banking institution will be able to help them out. Moreover, change your bank account user name and password ASAP should you get defrauded.

Crypto payments are untraceable and are therefore non-refundable. For these reasons, crypto wallets are the favorite means for investing for scammers.

The last point to make concerns recovery agents whose promises will tempt many a victim. Agents or agencies promising some magical way to recover your stolen funds are separate fraudulent entities.

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