Today we are going to make a review of a system called 365-FX. From the very beginning we should notice that, some years ago, in the past, this system used to deal with binary options, and so, the website was created especially for this purpose. But with time it started to pay its attention to Forex and started transforming step by step. The account data is not changed yet, by the way. So we had no possibility to log is as a company. But still, we have some information and thoughts about the system. Continue reading, if you want to know the truth about this broker. As usual, we are going to start with some positive moments.
Starting our review, we should say that this British based broker is not legal, which means it has no license and so, we cannot trust it! Once again, it DOESN’T have a license, so be careful before thinking seriously about the broker. There is also some info on the website about the owner and things like that. So Fintech Software Inc. owns the system and operates it. And they write about the skilful team of professionals and experts, but, strangely, no names and general information. The website also has it, that there are lots of branches worldwide, in countries such as Singapore and New Zealand. But still, no regulations and the complete mystery about the real owners and the status.
Advantages and Positive Thoughts
Frankly speaking, this system is not a great one. It is hard to say something positive here, but there is one thing. The broker has a wide range of cryptocurrencies, as well as precious metals and forex with thirty currencies. You can exchange the Ripple, Monero, Bitcoin, Dash and Ethereum among one another, or you may also trade them with US dollar currency.
But still, we do not recommend this broker, and our advice for you is to search for a reliable system, not a scam like this one.
We examined the website, it looks fine, there are some charts and colourful pictures for you to lose your attention and start using this system (because everything seems so easy and reliable when it is not). There is even an “education” page with courses and some information, videos and pictures, terms and strategies.
Disadvantages of the Service
- The first disadvantage has been already mentioned – no regulations and no license. That is the most important thing of any company and broker, it is strange 365-FX doesn’t have it as well.
- You also wouldn’t find info about trading conditions, limits and minimum payments. There is no a free demo account.
- This system has no idea about the MetaTrader 4 (MT4) platform. The web-based interface is strange and doesn’t seem to be reliable to the advanced traders.
- The spreads are high, you may find something cheaper anywhere else.
The Summary and Verdict
The negative sides prevail and so, it is hard to recommend this broker. The main disadvantage is the absence of any regulations and license. The risk may occur, please, be careful while trading with the broker.