SnapEx Fx is an online forex broker that recently caught our eye because of its exposure. This article is to explore the details of SnapEx Fx, as we want to know if this broker is what the victim described.
About SnapEx Fx
SnapEx Fx is an online forex broker offering a series of market instruments, including forex, index, and commodities, to its clients. It was registered in Saint Vincent and the Grenadines. Saint Vincent and the Grenadines is an attractive place for financial companies to operate through an offshore company. There is no sharp regulation or overseeing of the company operation implemented. The SVG broker can run its activity and accept forex payments through credit cards but is not overseen. The physical address of this broker is the First floor, First St. Vincent Bank Ltd Building, James Street, Kings town, St.Vincent and Grenadines.
Regulation
SnapEx Fx is not regulated by any regulatory authority. WikiFX has given this unlicensed broker a fairly low score of 1.15/10.
Account Types
According to its website, SnapExFx offers three trading account types, allowing investors to choose the right account for themselves according to their risk tolerance, capital budget, trading experience, trading style, and other factors.
After registering an account, you can use the SnapExFX MT4 platform for foreign exchanges, commodities, stock indices, individual stocks, and CFDs.
We are committed to providing the best trading experience to each client. See the trading account comparison below for details.
Trading Platform
SnapEx Fx uses MT4 as its main trading platform. it is available on both mobile devices and PC.
Customer Service
Looks like SnapEx Fx only supports online service. In order to get in touch with this broker, you have to fill out the online sheet.
Exposure
WikiFX has received a lot of complaints against this broker within 3 months. The victim claimed that SnapEx Fx is a scam. The agent of this broker in WeChat lures people to invest with gold 1000 bait. They can manipulate the data in the background.
Conclusion
Although it claimed to be registered in Saint Vincent and the Grenadines, it seems that SnapEx Fx is focusing on the Asian market only. When we open the website of this broker. The default language for the website is Chinese. Furthermore, the victims as we know so far are all Chinese. We advise you to keep your distance from this broker, especially if you are a Chinese-speaking investor. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.
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