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FxCitizen is suspected to be a scam broker. If you are scammed or planning to invest, read this FxCitizen Review.

The trading name of Universe Citizen Limited, which is registered in Vanuatu, is FxCitizen. Because of the nearly limitless leverage that can be supplied and the ease with which it can exceed 1:1,000, Vanuatu is a desirable location for forex brokers. Yet, this also poses a danger to the money of the clients.

FxCitizen is an offshore brokerage that lets you trade in more than 30 currency pairs and CFDs on gold, silver, and oil through the MetaTrader 4 (MT4) platform. There are no CFDs on indices or stocks offered by this broker.

Customers of FxCitizen can use the well-known MetaTrader 4 (MT4) platform on both their computers and their phones.

Most traders prefer MT4 because it is reliable, easy to use, and has a lot of technical indicators, a strong back-testing environment, an excellent charting package, and a wide range of Expert Advisors (EA) that let customers fully automate their trades.

Payment methods from FxCitizen include credit/debit cards, e-wallets, telegraphic transfers, bank money transfers, and local transfers.

Proofs that FxCitizen is a scam

Investment scams such as Forex trading scams, Binary scams, Crypto scams and others are hard to spot. But still there are many signs why FxCitizen is suspected as a scam broker. Let us read them,

After taking a look at their website, we found numerous warnings that should be enough for you not to invest in them. Some of the reasons why we include FxCitizen as an unsafe broker.

Regulation And Safety Of Funds

Being an unregulated firm is the worst thing, and it makes you an exploitative cheat. FxCitizen is a scam, and your money is at risk.

By investing your money in an unregulated and unlicensed broker, you are indirectly putting your funds in danger. For that reason, we ask our readers to invest with brokers who have licenses from authorities like FCA, ASIC, FMA, etc. Authorized brokers are covered by many prerequisites, and a large number of them apply anti-fraud practices. As such, they are the specific inverse of what these brokers and others like them represent.

Deposit And Withdrawal Methods And Fees

There is a reason why these fraudsters, as well as many other scammers, would frequently advise you to deposit in cryptocurrency. You cannot get a chargeback on such transactions because they are entirely irreversible and all of them are recorded in a ledger that cannot be modified later. Depositing money with scam brokers is therefore, rarely a good idea. If you have already invested your money with FxCitizen, you should immediately ask for a withdrawal as your money is not safe with an unregulated broker.

With FxCitizen, if you ask for a withdrawal, they will postpone the process by giving some reasons for a long time so you can find no alternative to file a complaint. 

Customer FxCitizen Reviews

Scam Helpers found that FxCitizen got negative customer reviews and ratings on all other sites, and also got low trust scores among users. With this review and after reading all the negative and positive FxCitizen reviews, we found that this broker is not regulated and might be a potential scam broker. To avoid these scams, we provide a list of scam brokers 2023 on our website.  

How does FxCitizen Scam Work?

Scammers use many tricks in order to give you the idea that you are earning money easily and rapidly, fraudsters frequently send you some returns first. They can acquire your trust in this way. To extract as much money as they can from you, they frequently ask you to make more investments or to recruit family members and friends to do the same.

They will suspend or close your account when they believe you are unable to invest any more money in the fraud, and you won’t likely hear from them again. In order to appear trustworthy in the eyes of potential customers, many scam companies falsely state that they are headquartered in a regulated jurisdiction by using fictitious locations and regulation licenses.

How to keep yourself safe from scam brokers?

  • Do good research about the broker. Go through reviews and pick a broker with positive reviews. A conventional web search can give experiences into whether negative remarks could simply be a disappointed broker or something more serious.
  • Ensure the reviews do not contain anything negative about the broker’s withdrawal process.
  • If you are happy with your examination on a specific broker, then trade for a while first, and afterward attempt to make a withdrawal.
  • If you face some issues, discuss them with your broker. If it doesn’t go well, file a complaint and share your experience online with everyone.

Is FxCitizen broker Legit or a scam: Conclusion

It is clear from the FxCitizen review that this broker is not right for trading. We unequivocally encourage all traders and investors to keep away from FxCitizen and similar brokers. If you really want to trade online, find a broker who is regulated and has trusted and positive reviews.

Scammed by FxCitizen? Scam Helpers can help

If you are a victim of the FxCitizen scam, or other scams like the forex scam, cryptocurrency scam, binary scam, etc., file a complaint here to get your funds back. Scam Helpers can process your complaint and help you in fund recovery. We should begin and determine the matter before the harm is considerably greater. Your one step can save you and other people from being cheated by such brokers.

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