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No valid regulatory information, please be aware of the risk!
Pyramid scheme complaint
It's a very long story with INFY FX SCAM.....!!!!! But writing in very short.. "Within the 3 Months INFY FX looted me for Three Lakh Ninety Thousand INDIAN Rupees." One day I got a call from Infy Fx to open a PMS account with them, I opens an account and funded 100 USD then he demanded 4000 USD. On the behalf conversation and their website and working style i trusted and funded 4000 USD. Then the Account Manager Mr. Ankit Sharma (mo. no. 9781601382) started ignoring my phone, I'm on Leave, I have some medical emergency and getting may more excuses related account and withdrawal process. Then suddenly after few days I got a call and he told me that due to the heavy negative floting you have to add more 2200 USD on urgent basis, In this panic situation I funded the same, but on 11th July 2022. my total account is lost and was shown negative -840 USD balance. There firstname.lastname@example.org also not working. the same is mentioned on new website also. Now the case is they changed their old website from infyfx.com to infyfx.world. Now I'm continuously trying to reach out but all coordinators mobile numbers are switched off and email showing "Address not found". I only have my old login credentials, now not able to login on new website. This the worst worst scenario, i have suffered from.
Note: For some unknown reason, we cannot open InfyFxs official site (https://infyfx.com) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.
General Information & Regulation
InfyFX, a trading name of INFYFX LIMITED, is allegedly a forex broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with leverage capped at 1:400 and tight spreads from 0.1 pips on the leading MetaTrader5 trading platform.
As for regulation, it has been verified that InfyFX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.52/10. Please be aware of the risk.
InfyFx advertises that it offers access to a wide range of trading instruments in financial markets, including forex currency pairs, commodities, cryptocurrencies and indices.
A leverage ratio of up to 1:400 is offered by InfyFx, which is much higher than that provided by most brokers. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
InfyFxs website claims that the average spread for the Standard account type is 2.6 pips. However, as tested on the demo MT5 account, the spread for the EUR/USD pair of only 0 pips, is definitely used for show and it probably is a part of the most advanced account type- the Pro Account.
Trading Platform Available
The platform available for trading at InfyFx is the worlds most trusted and popular MetaTrader5. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
InfyFX says it accepts deposits via credit/debit cards, Bitcoin, Skrill and Neteller e-wallets. However, once we made an account, we discovered that the broker only takes wire transfer payments. In the withdrawal area, there are no payment methods, but instead, a simple form where the client must fill in the account number and the reason for withdrawal.
There is no minimum deposit requirement indicated in the user area, while the minimum deposit is said to be $100. Also, the website reveals that the broker may charge some deposit and withdrawal fees. According to the Terms and Conditions, the typical time frame within which the user will receive the money is 3 days. There is no processing time indicated.
InfyFxs customer support can be reached by email: email@example.com. You can also follow this broker on social media platforms such as Twitter, Instagram and YouTube. Company address: 71-75 Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ.
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
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