Introduction to Cash FX Group review:
Cash FX Group introduces itself as a forex brokerage firm that has only one positive attribute to itself in this entire review. The nice website that has been created by the company might give you the impression that Cash FX Group is regulated. However, as the popular saying goes, one must not judge the book by its cover. Upon reading the website and conducting some background checks, we found out that Cash FX Group possessed many more red flags than the positive review it had. Even though they claim to be a forex brokerage firm, they won’t let the customers make an account with the company unless they sign up for one of those MLM schemes that Cash FX Group offers. To know more about the red flags, read the full Cash FX Group review here.
About Cash FX Group:
Is Cash FX Group regulated by any of the regulators?
Although the company weaves up a whole different story on its website, the reality is that Cash FX Group is based in Panama. For those of you who don’t know, Panama is one of the offshore zones that does not have regulations. Therefore, it is clear that Cash FX Group is UNREGULATED. It is never safe to trade or invest with unregulated brokerage firms as they do not provide security for your money deposits.
Furthermore, Cash FX Group has also been blacklisted by one of the top-tier regulators in the industry. The Financial Conduct Authority or the FCA issued a warning against Cash FX Group stating the company to be unregulated. This provides the first red flag against the Cash FX Group scam in this Cash FX Group review.
Which trading software does Cash FX Group offer?
It is clear that Cash FX Group does not offer either of the leading trading software of the industry, i.e, MetaTrader 4 or Metatrader 5. Although we have found out that Cash FX Group does not offer reliable trading software, we are not yet sure as to which trading software they provide to their customers as they were not even letting us make an account. Cash FX Group does not even provide a demo account to their customers which gives us yet another red flag in this Cash FX Group review.
What is the minimum deposit demanded by Cash FX Group?
Cash FX Group demands a minimum deposit of $300 from their customers. It is a very huge amount for an unregulated brokerage firm to be asking from their customers. This gives us yet another red flag in this Cash FX Group review.
Conclusion: Is Cash FX Group a scam or legit?
To conclude, we warn our readers not to trade or invest with Cash FX Group as it is a potential scam. Apart from being unregulated, Cash FX Group is also blacklisted by the FCA. if you have been scammed by Cash FX Group or any other scam brokerage firm, let us know by filling the form on top of this review and we will help you!