Is EuropeFX a scam? The real Review

This EuropeFX review should help shed some light on how Forex Broker Scam activities work and help you understand if EuropeFx qualifies as a Forex scam.

Is EuropeFX a regulated forex broker?

Yes, EuropeFX does check off quite a few boxes when it comes to being called a “regulated broker”. EuropeFX is in fact regulated by the Cyprus Securities and Exchange Commission (CySEC). However being regulated by CySec doesn’t mean there’s no more to review. You can read more about regulated forex scams here

As you’ll see from many of the points that we touch up on in this review article, we will highly recommend avoiding using EuropeFX as a broker and how you can get your money back if you’ve already given your money to EuropeFX.

Europefx homepage review

If you are considering trading with EuropeFX or if you’ve already commenced trading with them. We hope this article sheds some light on the mystery of EuropeFX and helps you make the right decision. If you’ve already given your money to EuropeFX, contact us right away to find out how you can get your money back.

EuropeFX Review

Let’s Get To It!

What is EuropeFX?

EuropeFX is a trading company that’s regulated by the Cyprus Securities and Exchange Commission (CySEC). This regulator is acknowledged throughout the European Economic Zone (EEZ), which means that they’re authorized to do business within the entire zone. However CySEC has a notorious reputation for allowing shady practices within their system of brokers.

What services does EuropeFX offer?

This company serves as a broker for foreign exchange trades, stock trades, bonds, and even precious metals. They offer self-serve training through their MT4 trading platform. Alternatively, you can speak directly with one of their brokers. They put a lot of emphasis on phone communication, and their brokers will contact you regularly with trading advice.

Opening an account is easy for anyone in the EEZ. The minimum investment is only €1,000, so virtually anyone can afford to open an account and start trading.

In addition to its trading services, EuropeFX also offers investment advice. Unfortunately, this is one major reason people are concerned that they may be a scam. When a forex broker is offering investment advice it is generally a red flag and a sure sign of a Forex scam.

Update: July 7th, 2020

EuropeFX has managed to maintain their CySec regulation under their parent company. They have been the subject of multiple investigations and reports show that they can be considered a Forex scam.

If You’re Not Sure If You’re Being Scammed By EuropeFX Watch This Video

EuropeFX and Signal Selling

One of EuropeFX’s most popular features is the fact that it gives you access to Trading Central. This is a popular online system that analyzes trading trends, identifies opportunities, and offers recommendations – called “signals” – to traders.

So you get a forex broker along with an investment advisor. What could go wrong with that?

The problem with that kind of business is that it involves what economists call a “moral hazard”. That means it creates a financial incentive for a person or a business to do things they shouldn’t.

In this case, a signal seller’s product is the advice itself. If they sell you good advice, you’ll presumably stick along and continue paying for more of it.

On the other side of the fence, a broker’s business is in trades. If you invest $5,000 to buy Euros and let that money sit in Euros for a year and a half, the broker doesn’t make a dime. Meanwhile, a savvy investment advisor may very well tell you to keep sitting on those Euros, anticipating a long-term payoff.

What if your investment advisor is also your broker?

When that investment advisor is also your broker, things get hairy. If they do their job as an advisor, their business as a broker will suffer; you won’t be making as many trades for them to earn a commission on. On the other hand, if they do their job as a broker and try to encourage you to trade, they’ll be failing you as a good advisor.

This is a shady practice, but it’s not illegal.

That said, we strongly recommend getting your advice from someone other than your broker. This is true whether your broker is EuropeFX or any other company.

Pushy Brokers

One thing we’ve heard from several EuropeFX customers is that their brokers are constantly encouraging them to invest more money. Now, this isn’t always indicative of a scam. Some may claim that to some extent, brokers should be enthusiastic. After all, someone is trying to get you to put your money in an investment, it should be an opportunity they genuinely believe in and are excited about. Brokers are essentially salespeople who are trying to persuade people to invest more money.

That said, there’s a difference between an enthusiastic investment advisor and a predatory one. No Forex broker should be calling you multiple times a week or trying to get you to invest another $1,000 at the end of the day in order to take advantage of some late afternoon market movement.

Multiple users have reported this type of behavior. And while it’s not enough to say that EuropeFX is a scam, it’s certainly annoying for their customers, and it’s a huge matter for concern.

EuropeFX Spreads and Other Details

Impressively, EuropeFX is one of the better brokers on the market when it comes to being transparent about their spreads. Trades are charged at a rate of two pips per lot. That’s it. There are no hidden rates for special trades, no upcharges for small trades, and no upcharges for trading in particular currencies.

Another thing we appreciate is that they maximize leverage at 1:30, or 1:200 for highly-qualified business accounts. This may seem like a high ratio to an investor who’s accustomed to trading in just about any other market, but it’s relatively low for a forex broker. This provides some protection for inexperienced investors who are liable to get in over their heads.

All investor accounts are insured up to €20,000. This is in compliance with European regulations covering financial institutions.

From a regulatory perspective, we need to be clear. While we’ve been critical of some of EuropeFX’s business practices, they’re 100 percent legitimate in terms of being a legal, registered business that adheres to the letter of the law.

EuropeFX and Fake Brokers

One way people end up writing negative EuropeFX reviews is if they end up doing business with somebody who’s not even EuropeFX. Sadly, this is a commonplace occurrence with forex brokers. Since the business is entirely online, organized crime outfits in Eastern Europe, South America, and Africa set up fake websites to lure unwary customers into handing over their money. When investors go to withdraw their money, nobody answers their emails, and it turns out that the customer service phone number is fake.

Avoid scams by paying attention

One way to avoid these scams is to pay attention to what website you’re actually visiting. EuropeFX will only do business through their website or through the MT4 trading platform. If you’re on a third-party site, you’re handing over your money to a EuropeFX scam.

There’s another, more obvious way for Americans and Canadians to know they’re dealing with a scammer. EuropeFX is regulated in Cyprus, which means they’re only licensed to conduct foreign exchange transactions inside the European Union. If you’re an American, Canadian, or any other non-European and someone claiming to be EuropeFX is willing to take your money, you’re dealing with a criminal.

Europefx australia broker

Is EuropeFX a Scam?

EuropeFX definitely seems to check off a lot of boxes in the scam category. Despite their regulatory standing, EuropeFX is considered a trading scam.

Because they’re a legally regulated business (their regulator is also suspicious) we can’t officially call them an outright fraud, even though we’ve repeated countless reports regarding fraudulent behavior some of which we’ve outlined in this article. The fact that they broker Forex trades for thousands of customers every day makes things even more worrying. They even offer a conservative leverage limit, and they’re transparent about their spreads, which is more than many other “legitimate brokers” can say.

Still not convinced that EuropeFX is a scam?

If you’re still not convinced there are two practices in particular that investors should be aware of if they want to do business with this company.

The first, as we mentioned, is their pushy brokers. This company touts its practice of building a “personal relationship” with their customers. They certainly achieve this. Unfortunately, this “relationship” usually comes in the form of brokers calling at odd times of day asking you to invest more money to take advantage of some hot trade which all too often ends with the investor losing all of their money.

The other is their practice of signal selling. Again, we should stress that this isn’t a scam in and of itself. But we’d be leery of any business that sells you signals why simultaneously brokering your trades. This is a tactic commonly used by scammers, and it’s definitely shady.

Is EuropeFX legit?

What tops it all off in categorizing EuropeFX as a scam is the online reviews. A discerning eye will quickly be able to see that EuropeFX customers are constantly reporting misconduct.

EuropeFX has been documented online lying and stealing funds from it’s customers. EuropeFX should by no means be considered a legitimate broker.

We know this because we’ve dealt firsthand with recovering victims funds from EuropeFX. We’ve heard the reports and they’re all available online.

We recommend to each individual that you do your own independent research before trading any foreign currency and definitely check out their reviews prior to trading. This would have come in handy to a lot of EuropeFX clients.

I’ve Given Them My Money. What Can I Do Now?

If you’re a EuropeFX customer, we can help you get your money back. We’ve help thousands of clients get their money back from companies like EuropeFX (we’ve helped numerous EuropeFX victims).

If you’re a victim of EuropeFX or of a fake broker who was impersonating EuropeFX, we can help you recover your funds as well. You can also report the company at and .

We understand that it can be confusing knowing who to trust. For the average person, recovering money is an unfamiliar and byzantine process. Scammers can be hard to track down. And even if you can track them down, they may live in a country whose legal systems are built to protect them, not you. That’s why we recommend relying on experts.

MoneyBackHero has helped many people like you. Contact us for a free consultation. We recover your money, and you pay us a percentage of whatever we recover. It doesn’t get any easier than that.