Titanexx Review: Titanexx.com has too many Red Flags!

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Titanexx Review
  • Regulation
  • Fund Safety
0.5

Summary

The broker has highlighted some of their values. However, we could not tell their origin because they have not disclosed anything about their team leaders. Scam forex brokers like Titanexx operate in a shadowy world where transparency is often sacrificed for the sake of deception. One of the common tactics these frauds employ is to hide the identities of their team leaders and company founders.

Titanexx purports to step up your trading experience. This is not uncommon because every broker will want to appear better than the other. The rise of the forex trading business has opened many opportunities for passive earning. Retail traders can now trade comfortably with as little as $5 in their accounts. However, this is only possible when you trade with reputable and transparent crypto brokers.

Titanexx Review, Titanexx.com Broker

One of the key reasons for the increase in forex scammers is the lack of regulation in the industry. Unlike other financial markets, the forex market is decentralized. This means that there is no central governing body overseeing transactions. This lack of regulation has made it easier for scammers to operate without fear of repercussions.

About Titanexx.com

On this broker’s platform, you can trade currencies, indices, cryptocurrencies, commodities, and stocks. There are four different accounts, each with unique parameters. The most popular one is the Platinum account, with a minimum deposit of $10,000. This amount is, however, too high, especially for a beginner retail trader.

The broker claims to have an international reach, and its key values include professionalism, integrity, and transparency. From whois.com, we established that the firm opened their domain on 21st March 2023. They have not disclosed their inception date. However, we could see that the company is in its infant stages and will close in 2025, which was a red flag.

Founders and Team

The broker has highlighted some of their values. However, we could not tell their origin because they have not disclosed anything about their team leaders. Scam forex brokers like Titanexx operate in a shadowy world where transparency is often sacrificed for the sake of deception. One of the common tactics these frauds employ is to hide the identities of their team leaders and company founders.

They often use fake personas titles to give the impression of a well-established and reputable company. This tactic is designed to lure in unsuspecting traders who may be swayed by the appearance of credibility. Additionally, concealing the identities of team leaders and founders can make it easier for them to disappear once exposed.  These brokers can also shut down their operations and reemerge under a different name or identity.

Titanexx Contact Details

To reach the broker, you can call or write an email. From the phone number they have given, the broker is located in London, UK. However, we noted that they have not given specific details about their physical location. This was concerning because without a physical address, it’s nearly impossible to locate them.

Traders need constant updates from the broker about their running trades. However, without reliable communication channels, this becomes a problem. This broker claims to uphold transparency but apparently, they are not transparent.

Regulation

Since the broker is headquartered in the UK, the Financial Conduct Authority (FCA) should oversee their operations. To get a license, there are several things the company needs to do. First, must develop a comprehensive business plan outlining the proposed activities, target market, and compliance procedures. This plan shows the FCA that the broker is capable of operating ethically.

They must submit detailed information about the business, including its ownership structure, directors, and key personnel. The FCA will then conduct a thorough assessment of the leadership, ensuring that they are fit for their roles. This assessment includes checks on their competence, integrity, and financial soundness.

Titanexx has failed to meet the above criteria and hence they don’t have a license from the FCA. We checked the FCA database and didn’t find the broker’s name. Trading with such an unregulated broker is dangerous because in case of any financial loss, you can’t recover your money.

Titanexx Trading Conditions

The spreads range from 0 to 1.5 pips and the leverage is up to 1:500. Under the FCA, this leverage is too high. All the accounts offer sign-up bonuses, which was a red flag. The Terms and Conditions page is not working.

Final Verdict

Titanexx is a scam forex broker. They have tried their best to appear legit but in reality, they are fraudsters. In this industry, there are honest and transparent crypto brokers and we recommend that you work with them. Avoid brokers who offer you welcome bonuses because in the end, they will drain all your finances.

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