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

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PerfectFXOptionLive is yet another reincarnation of a fraudulent scheme we have seen numerous times. This website presents itself as a secure and transparent forex broker, but in fact has no legal authorisation or even the technological capacity to offer trading in financial instruments. The purpose of PerfectFXOptionLive is to scam inexperienced people out of their money. In this review we will show you how to tell the difference between fake investment intermediaries and genuine ones.

PerfectFXOptionLive Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
PerfectFXOptionLive
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

The most important information about a financial services provider is its regulatory status. Licensed brokers provide detailed information about which company runs them, where it is based, which jurisdictions it is authorised in and which regulatory bodies oversee its activities.

On the homepage of the website we see the name PerfectFXOptionLive LTD, but we have no proof that this company actually exists. PerfectFXOptionLive does not provide any information regarding regulatory licensure and does not grant access to legal documentation that meets standards.

An incomplete United States contact address is provided. But this website is not among the few brokers authorised to operate in this highly regulated jurisdiction.

Regulators in another centre of the financial industry, the United Kingdom, have published a warning that PerfectFXOptionLive is a scam.

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the Commodity Futures Trading Commission (CFTC) in the US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.

PerfectFXOptionLive Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
PerfectFXOptionLive platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

After registering an account, we get access to a very rudimentary imitation trading platform that lacks even basic order placement features.

But even if PerfectFXOptionLive had a more convincing platform, that would not make this website credible. Fake brokers use rigged trading software to mislead their victims that their money is really being invested. But this trade is entirely sham.

If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used trading platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

PerfectFXOptionLive Trading instruments

CurrencyStocksIndicesCryptoCommodities
PerfectFXOptionLive
XMYesYesYesNoYes
FBSYesYesYesYesYes
FXTMYesYesYesYesYes

PerfectFXOptionLive has neither the licence nor the legit software necessary to facilitate trading in financial instruments. There is no good reason to trust your money to this fishy website instead of an established and reputable forex broker.

PerfectFXOptionLive Spreads and cost of trading

PerfectFXOptionLiveXMFBSFXTM
Spread EURUSD0.611.1
Spread GBPUSD1.31.21.4
Spread USDJPY1.31.21.4

PerfectFXOptionLive  does not provide any clear information on the terms of the trade it claims to offer. Genuine forex brokers provide detailed information about the trading conditions. Legitimate companies also offer different account types to suit clients with different experience, capital and investment intentions.

PerfectFXOptionLive Maximum leverage

ForexStocksCryptoGoldIndices
PerfectFXOptionLive
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

PerfectFXOptionLive Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Crypto24 hours24 hoursFee depends on crypto

PerfectFXOptionLive only allows the deposit of funds with cryptocurrencies. This is typical of financial scammers. Cryptocurrencies are their payment method of choice because on the one hand they allow the scammer a degree of anonymity, and on the other hand they do not allow the scammed to ask for a refund.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.

PerfectFXOptionLive Minimum deposit

PerfectFXOptionLiveXMFBSFXTM
Minimum depositN/A$5$10$5

The leading brands in the industry offer beginner traders starter accounts with a very low minimum deposit. You have no good reason to take chances with shady brokers like PerfectFXOptionLive.

PerfectFXOptionLive Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
PerfectFXOptionLiveNot specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

Since PerfectFXOptionLive does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.

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