Trendify Fx Review: Trendifyfx.com A Terrible Company
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Trendify Fx Review
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Regulation
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Fund Safety
Summary
This broker is located in the UK. The Financial Conduct Authority (FCA) should oversee its operations. However, when we checked the FCA’s database, we didn’t find the name Trendify Fx anywhere.
Trendify Fx promises performance-driven technology and ultra-low spreads. These are attractive aspects that every aspiring trader would admire. However, they are useless if the broker is unregulated. When it comes to trading, working with regulated, honest, and trustworthy crypto brokers is the only way to enjoy the journey.
Brokers serve as intermediaries between traders and financial markets, providing essential services and facilitating trading activities. Markets such as the stock exchange, forex, and commodities markets often require intermediaries to facilitate transactions. Without brokers, retail traders would face significant barriers to entry, including high costs and regulatory hurdles.
About Trendifyfx.com
We gathered a few points about the broker from their website. Among their key claims are that they offer 24/7 customer support, have over 25,000 satisfied customers, and have 10 years of experience. We, however, wanted to validate some of these claims. From whois.com, we found that the broker has only been online since April 2024, and their domain is set to expire in 2025.
This was a red flag that exposed the shady broker as dishonest. It also shows that they will be exiting the market very soon since their domain will only be active for about one year. Many scam brokers don’t operate for very long.
Founders and Team
The company leadership and founders are missing from the company website. This was a red flag. Any company that is serious about business is proud of the people who laid its foundation and current leaders. Including company background and leadership, information aligns with ethical and responsible business practices.
Transparency in these areas shows that the company values accountability and is committed to ethical standards. This openness can attract customers and partners who prioritize working with businesses that share their values. Scammers, on the other hand, are often cagey because of fear.
Trendify Fx Contact Details
From their Facebook page, we gathered that to reach the broker, you could send an email, call, or visit their offices in Leeds, United Kingdom. They also have a WhatsApp number, but we could not verify its reliability. All the posts on their Facebook page are from the year 2024, which invalidates the claim about having 10 years of experience.
Scam brokers may give legitimate phone numbers and social media pages; however, they’re imprecise about their physical location. For example, Trendify Fx has only stated its location as Leeds but has not provided details about the building and house number for easier access.
Regulation
This broker is located in the UK. The Financial Conduct Authority (FCA) should oversee its operations. However, when we checked the FCA’s database, we didn’t find the name Trendify Fx anywhere.
The broker has not met the FCA standards for registration and may not have even applied for the license. One key requirement for registration is that forex brokers prove they have sufficient financial resources to operate effectively. This includes maintaining adequate capital reserves to cover potential losses and operational costs. If a broker fails to meet the minimum capital requirements set by the FCA, their application will likely be rejected.
The FCA requires proof of financial stability to ensure the broker can withstand market volatility and protect client funds. Scam brokers often avoid applying for registration because they don’t have the financial muscle to do so.
Trendify Fx Trading Conditions
The broker offers three types of accounts: Standard, Premium, and VIP. The minimum deposit for the Standard account is $10. The spread is 2.7 pips, and the leverage is 1:1000. There are no commission charges, but we noticed that they offer a 5% direct bonus, which is typical for scam brokers.
You can trade forex, shares, indices, commodities, and crypto. The broker’s crypto offering was also a red flag because the FCA does not allow crypto retail trading.
Final Verdict
Trendify Fx is not a registered forex broker. Therefore, you must avoid them as a trader. In the financial markets, the best approach is through a transparent and honest crypto broker. Trading is also risky, and regulated brokers must tell traders about the risks associated with the business before they start. In the meantime, stay away from the crooked Trendify Fx brokerage firm.
