FXnice Review – A Trail of Scams, Poor Support & Misleading Strategies

FXnice, surprisingly, is not proving nice for forex traders all over. Traders have been requesting the company officials to allow them to withdraw their funds. However, these officials provide them a false reason, i.e., unverified accounts for withdrawal denials.

Even worse is that the company is failing to deliver on what makes any forex broker reliable for trading. Yes, FXnice does not provide reliable technical insights that would help traders place the right trades. Due to this, traders receive more losses than returns.

The deficiencies have certainly exposed FXnice and its operational fragilities. We will take you through the sufferings of its investors. Read their comments and dont be part of the victim list.

Trading Issues That Cause Reputational Damage to FXnice

A Novice Forex Trader? FXnice Will Make Your Trading Journey Worse!

Experience matters everywhere, including forex trading, where currency prices can fluctuate every second. As a trader, you can make subtle investment moves required to deal with challenging market conditions.

Whether its about taking a short or long position, or closing a position, having experience does help you decide the right move. However, if FXnice is acquiring customers with no experience, it should train traders to place the right trades.

That being said, briefing investors on the process should, anyway, be their primary responsibility. While FXnice promises it will instruct traders on the process, it hardly does it in real time, resulting in losses for investors, especially inexperienced ones.

This one complaint made us pause and feel sad for inexperienced traders looking forward to a rewarding journey with FXnice.

Inaccurate Analysis by Incompetent Analysts Spells Disaster

Technical analysis not only shows the currency price direction. It shows a tale of the market sentiment. Studying it carefully lets investors understand whether they should open a fresh position or close the existing one. However, when technical analysis and analysts are wrong, every investment call you make will only turn into losses. FXnice investors have faced losses due to these. It‘s like a forex investment scam in disguise. We saw some complaints regarding this and thought about sharing them. Let’s have a glance.

Withdrawals Keep Getting Denied Despite Constant Requests

Showing profits to investors and denying withdrawals is typical of scam forex brokers, and FXnice is no exception! One such customer who invested $300 in FXnice and made a profit of $150. The customer wanted to withdraw funds, the company denied by attributing an unverified account as a reason. Eventually, it led to the investor losing the entire sum. Another customer with an even higher investment worth $5,000 could not withdraw funds. Here are the screenshots.

Alert! The UK-based FXnice Does Not Hold a Regulatory License for Forex Business

That is some serious but true revelation of FXnice and perhaps the root cause of all the problems investors face at this forex brokerage service provider. The surprising part is that the company has been in the business for more than five years without a valid license from the regulatory authority. The score (1.53 out of 10) from WikiFX, the game-changing forex broker regulation inquiry app, is, therefore, not surprising for this scam forex broker.

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