Executive Forex (executiveforex.com) seems legit from afar, but that's not the case when you sign up. Over the past few weeks, the platform has failed to allow anyone access to funds. And this has brought some attention to the platform, even from regulators. In addition, no one gets to profit from trading with the platform. As a result, ExecutiveForex has turned into a dismal forex trading platform. Learn more in our detailed EXECUTIVE FOREX REVIEW.
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Executive Forex is selling itself as a global forex educational provider on the homepage. It's also acting as a legit trading platform without desk brokers. With these two combinations, it attracts newbies who want to learn the trade.
The platform claims to teach clients to become proficient traders. In addition, the platform claims to guide investors to learn more about forex trading from the onset. And the tool of choice is the MT4 trading platform.
Among the services the platform claims to teach investors is straight-through processing. Once you go over their learning platform, you can decide which broker to use. And that's another liability as the platform fails to refer clients to proven brokers.
Once you land on the homepage, you might feel at home. Yes, the platform has an enticing web layout designed to attract investors. Learners will think that the structure seems professional and a perfect place to learn to trade.
Far from it, there are several red flags we found on the platform. But unfortunately, these are the loopholes that the naked eye might fail to spot. And that's why we are here to expose these red flags and protect naïve investors.
Learning from Executive Forex is a huge mistake on your part. The platform is only interested in your funds. There are no actual trading lessons as the platform offers below-par trading tools.
Before you invest in any platform, experts recommend doing due diligence. Try and find out what makes a platform tick. That's the only way to guarantee your safety. You can reach out and request we do a review on your behalf.
For any investor, weighing the pros and cons of any trading platform is the way. And that means you have to check out what the platform has to offer. Going over the features exposes the pros and cons of executiveforex.com.
And that's the place where you will start finding clues regarding the platform. Some of the features to look into include overall results and proficiency of the lessons. Sadly, there's none on the platform.
Here's what we found out regarding executiveforex.com's pros and cons;
There are no accounts on the platform as the platform offers one account for all. You don't get to see the available features of these accounts until you sign up. As an educational platform, it should highlight the available account features.
Members also don't know the acceptable minimum deposit for opening an account. The platform leaves the amount open for interpretation. And that's a huge impact on how much an investor can deposit with the platform.
Most victims cited the platform's callous ways of asking for high deposit amounts. For example, some were asked to deposit as much as $2,000 to get these learning accounts. That's a high amount to start with.
With forex trading and education, most materials are available free of charge. In addition, the internet is full of educational materials. Most trading platforms even offer free educational materials to their members.
Educational platforms often bring into the fray the introductory part of trading. To improve your trading skills, you have to use a live account. And that's another problem with the platform in question.
Most of the users who signed up are angry with the account features. Once you sign up, it takes a while before the actual learning occurs. The platform might even decide to fail to send educational materials.
All the deposit and effort you put into learning with the platform goes down the drain. The platform even fails to highlight some of the most important learning aspects of trading. That includes taking advantage of features such as leverage and spreads.
Regulators have strongly urged traders to follow strict guidelines in regards to leverage. As a result, the minimum acceptable leverage for trading assets in most jurisdictions is 1:100. Retail traders in the States enjoy maximum leverage of 1:50.
Client funding is another issue with the platform. The account features include a promise of secure client funding. Now that implies that your funds are safe. Unfortunately, it's not the case as you don't get what you pay for.
There's a partnership program available on the platform. The program hopes to get more users to sign up with the educational platform. Once you become their affiliate, the platform promises hefty commissions.
It seems like a perfect way to earn passive income. The platform might decide to promise a 20 percent commission on all deposits made by your referred client. Before you jump in joy, there are a few issues to note.
No professional affiliate wants to partner with the platform. Word has gone around that the platform fails to release commissions. Worse still, those you direct to the platform end up losing their funds.
And that's the reason why investing with the platform is a huge issue. We recommend staying away from the platform or else losing it all. The affiliate partnership only works with legit platforms.
There's little information to point to who owns and runs the platform. Despite claiming to have offices in South Africa, Executive Forex remains an anonymous platform. If the platform were that successful, it would have gained some recognition.
The issue with anonymous platforms is that it takes a long to recover funds. As a result, members who attempt to hire recovery agents to lose their funds. In addition, these agents don't have the power to ascertain where the platform holds deposits.
Hezron started out hoping to learn more about the platform before opening a live account. He invested $1,000 with the platform, hoping to get a professional to help him learn to trade. It's been three weeks, and he hasn't heard a word from the platform.
And that's a huge issue with investors. The platform accepts your funds and fails to send learning materials. In addition, there's no professional trader assigned to help you learn the ropes of trading with the platform.
Executive Forex is not a regulated platform and fails to offer certified documents. No regulator or school governing authority gave the platform the green light to operate. And that means we are dealing with a shoddy platform.
As we put it blankly earlier, the platform doesn't care about the welfare of clients. Your funds are far from safe as the platform fails to protect your interest. The entire website is prone to third-party attacks.
Please stay away from Executive Forex or risk losing everything.
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