Minimum Deposit: N/A
Maximum Leverage: 1:500
My Score: 2.4
I’m here today for FXBreeze review. FXBreeze is a CFD forex broker who is based Estonia. According to the website, fxbreeze.com, the company behind the broker is Ten Barosh OU.
The broker is headquartered in Estonia Harju Maakond, Tallinn, Kesklinna Linnaosa, Tartu Mnt 43 – Tartu Mnt 43/1, 10128, ESTONIA and has a regional office in Level 33, 25 Canada Square, Canary Wharf, London, E14 5LB as well.
So, I am going to try to give you all information about FXBreeze. If you are wondering; Is FXBreeze scam or legit broker? What are the trading conditions such as spreads, minimum deposit and leverage? Is FXBreeze regulated? What kind of account types offer FXBreeze?
All of the questions above have answers in this FXBreeze review. Keep reading to find them. Let’s start with the first section!
Regulation and Investor Protection
FXBreeze claims that it is a regulated Forex broker and registered with Registration No. 14447986. Actually, there is no regulation at all.
Furthermore, the broker is not only without a proper license from the Estonian Financial Supervision Authority, but I also noticed that the regulator had warned about the company behind of FXBreeze.
Moreover, The Financial Supervision Authority informs clients and investors that Ten Barosh OÜ (registry code 14447986) does not have an active license for the provision of investment services in Estonia, and therefore, Ten Barosh OÜ is not authorized to provide investment services in Estonia.
The company offers the possibility to trade different derivatives through web pages fxbreeze.com and cryptatrade.com.
I strongly recommend trading with reliable brokers who are regulated by prestigious financial authorities, such as FCA and CySec, which require compliance a number of rigid rules that give important guarantee for the security of the clients’ money.
The separation of accounts is one of the very important rules in the trading world because it greatly reduces the risk of confusion.
Another important thing is the compensation scheme as well. Thanks to the scheme, if the broker goes bankrupt or tries to scam the traders the clients’ losses will be covered.
Consequently, it is quite a big disadvantage for FXBreeze to do not have any license. They are blacklisted by financial authorities and most unregulated brokers like them are involved in investment scams.
FXBreeze Account Types and Spreads
There are three types of account in FXBreeze. These are the Basic account, Gold Account and Premium Account.
According to the FXBreeze web trader, spreads are 3 pips on EUR / USD which are about quite high the industry average. There is no information about which account types offer how much spread on their website.
I can say that it would not be wrong to accept them all the same fixed spreads.
Although the spreads are complex, the leverage ratio is clear. The maximum leverage is 1:500 which is extremely generous.
Despite all brokers in the EU have to comply with a maximum leverage of 1:30, FXBreeze offers higher leverage. This shows us that the broker has been illegally operating because of the alleged large leverage.
The broker offers a web-based platform and the most popular platform among forex brokers and investors MetaTrader4 as well.
The MT4 provides a full range of tools and features: great charting, numerous built-in technical indicators, Expert Advisors (EAs) and extensive back-testing environment.
However, traders can download ready-made or make their own EAs and let the program do all the work.
FXBreeze offers its clients a wide range of trading products including on consisting of numerous currency pairs, various CFDs and cryptocurrencies.
Some of the cryptocurrencies are Bitcoin, Ethereum, Ripple, Litecoin, Iota, ZCash and more.
There isn’t live chat on their website. There is a contact section and you can reach the broker from there.
English, Italian, German, Spanish, Russian and Arabic is available languages. The website is basic and slipshod.
FXBreeze Withdrawal and Deposit Methods
The broker offers very limited withdrawal and deposit methods. Clients may deposit or withdrawal only Visa, MasterCard, Maestro, and bank/wire transfer. Some popular e-wallet options are missing such as Skrill and Neteller.
There are some annoying conditions for withdrawal on FXBreeze. For example, the broker has a minimum withdrawal amount of $200 for withdrawals via credit card and $500 for withdrawals via wire transfer.
I advise you to always put up only the required minimum deposit, instead of risking a more significant amount with no certainty.
They may also try to withdraw a small amount in order to control for any unexpected fees or delays. If there are such fees and delays, these are usually the signs of a scammer.
FXBreeze is an unregulated forex broker. Even worse the broker is blacklisted by Estonian Financial Supervision Authority.
I can clearly say that FXBreeze is very weak in terms of transparency. There are lacks of information about spreads, minimum deposit and more.
More importantly, if you want to trade with an unregulated broker you are open to a crucial risk. Unregulated brokers don’t protect your account and your money. They tend to scam you. Be careful and be away from them.
If you want to trade with reliable and reputable brokers you can check my top forex brokers list.