FX Squad Review 2023: Scam Or A Trustable Company?

FX Squad – The most Anonymous Trading Service

Being a UK-based trading platform, FX Squad is a non-trustable trading service with a bad reputation. Everything is due to a lack of information. Since we don’t know enough about the company, we can’t say anything about its reliability and trustworthiness. Moreover, some of the company’s website pages are not operable, which deepens our doubts even more. So, we created this FX Squad review to prevent users from scams and explain why this service shouldn’t be trusted like we did earlier in the Lyrathen review.

Is FX Squad Regulated?

Before you start working with any financial service provider, it’s essential to check whether it’s regulated. FX Squad is not regulated by any known financial regulatory authority. The Financial Sector Conduct Authority of South Africa, which is responsible for such regulation operations, was investigating FX Squad and an associated individual, Petrus Rasmus Erasmus, who is also known as Pierre. The FSCA warned the public to be cautious with the financial services offered by FX Squad, as they were suspected of conducting unregistered financial services and/or banking business. FX Squad was not registered as a company, and the individual associated with it was under investigation for potentially carrying out an unregistered financial services or banking business​.

Where is FX Squad Located? 

The specific location of FX Squad is not clearly documented, so it’s difficult to find out where it’s located. The official web page of the company says its address is 123 Main Street London EC1 4UK. It’s essential to note that the lack of clear information about the location and regulatory status of a financial service provider like FX Squad can be a cause for concern. Moreover, when we try to access the “About Us” page to discover more about the company, we only get “Error 404” page.

FX Squad Trading Options

FX Squad does not directly involve users in trading on the website. Instead, the company offers other types of support. Company representatives share their trading setups sharing charts that have areas of interest such areas are defined by confluences matching the FX+ strategy. By doing so, specialists force users to analyze their personal setups and implement changes. All updates and breakdowns are shared via Telegram. Still, this method looks strange as the trading service didn’t have a platform or a mobile app to share information.

Moreover, when we access the “Strategies” page, we only find a short general description of each strategy. Here, experts talk about day trading, wave dash Forex trading, Naked Trading Forex, Swing trading, and Forex scalping.

Is FX Squad a Scam?

Summing up our evidence, we can say this company is more like a scam. It doesn’t give users enough information to build trust. What is more importantly, the service is not regulated, and it’s already under investigation by the Financial Sector Conduct Authority of South Africa. Summing up these factors, we can say that this is an untrustable service and we won’t recommend you use it. If you got scammed by the FX Squad, feel free to contact our specialist and get your problem resolved.