No Regulation

Score

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/10

FXtrategy

China

|

1-2 years

Suspicious Regulatory License|

Medium potential risk

https://www.fxtrategy.com/

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Contact
FXtrategy
https://www.fxtrategy.com/
Influence
E

Licenses

No effective regulatory information has been founded yet, please pay attention to the risks!

WikiBit Risk Alerts

1
Previous Detection 2024-04-23

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

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Time Machine

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New Arrival

Company Name
FXtrategy
Regulatory Status
No Regulation
Company Abbreviation
FXtrategy
Platform registered country and region
China
Phone of the company
--

User Reviews

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1 ratings

Participate in evaluation
Teddy1620
In this platform I invested 1000 dollars, having a profit of 586 dollars when I wanted to make a withdrawal they asked me to deposit 1000 dollars more to validate my account and they took 2000 dollars out of my bank account, more when I realized this scam I demanded my money back and they asked me 3000 dollars more to validate my account, currently there are 4586 dollars in my account and they refuse to make the refund. they call you several times and pretend to be several areas of the company,
2023-05-20 04:22
0
Aspect Information
Company Name FXtrategy
Registered Country/Area China
Founded Year 2015
Regulatory Authority Unregulated
Number of Cryptocurrencies Available 50+
Fees 0.10%-0.15%
Payment Methods Bank transfer, Credit card, Debit card, and Cryptocurrency
Customer Support Email, live chat, and Whatsapp

Overview of FXtrategy

FXtrategy, established in 2015 and based in China, offers access to a diverse selection of 50+ cryptocurrencies. The exchange operates without regulatory oversight and features fees ranging from 0.10% to 0.15%. Users can choose from multiple payment methods, including bank transfers, credit cards, debit cards, and cryptocurrencies. FXtrategy provides customer support via email, live chat, and WhatsApp, catering to a global user base.

Overview of FXtrategy

Pros and cons

Pros Cons
Competitive trading fees No advanced trading features
24/7 customer support: Limited number of supported cryptocurrencies
Multiple payment methods Unregulated

Pros:

- Competitive trading fees: Xtrategy offers competitive trading fees ranging from 0.10%-0.15%. These low fees make it an attractive choice for traders looking to minimize their trading costs. Whether you're a beginner or an experienced trader, Xtrategy's fee structure can help you maximize your profits by keeping expenses low.

- 24/7 customer support: Xtrategy provides users with round-the-clock customer support through Email, live chat, and WhatsApp, ensuring that they can receive assistance whenever they need it.

- Multiple payment methods: Xtrategy empowers users with a variety of payment options, encompassing Bank transfer, Credit card, Debit card, and Cryptocurrency. This multiplicity of payment methods not only enhances convenience but also accommodates users' diverse preferences, facilitating seamless and flexible transactions tailored to individual needs.

Cons:

- No advanced trading features: FXtrategy may lack advanced trading options and tools that experienced traders may require.

- Limited number of supported cryptocurrencies: While FXtrategy offers trading options for over 50 cryptocurrencies, some less well-known or newer cryptocurrencies may not be available.

- Unregulated: The exchange operates without oversight or regulation from any official financial authority, potentially exposing users to higher risks due to the absence of established legal safeguards.

Regulatory Authority

FXtrategy operates under no regulatory authority according to the latest information addressed on WikiBit. Unregulated exchanges do not have the same level of oversight and accountability. This can pose risks for traders, as there may be a lack of safeguards in place to protect against fraudulent activities or market manipulation. Additionally, unregulated exchanges may not have proper mechanisms to handle disputes or provide recourse for users in case of issues or losses.

Security

FXtrategy, while demonstrating commendable security practices, operates as an unregulated exchange. It employs cold storage for user funds, enhancing security by keeping assets offline. Additionally, two-factor authentication (2FA) is enforced for all user accounts, providing an extra layer of protection. The exchange boasts a solid security track record with no significant breaches in recent years.

However, it's important to note that FXtrategy does not offer margin trading, which allows users to leverage funds, nor does it provide staking options for earning rewards by holding certain cryptocurrencies. Furthermore, FXtrategy's availability is limited to select countries, potentially restricting access for users seeking a secure trading platform. Overall, while the exchange excels in security measures, the absence of regulatory oversight and certain trading features may affect its suitability for some traders.

Cryptocurrencies Available

FXtrategy offers trading for a diverse range of 50+ cryptocurrencies, providing users with a wide spectrum of options to explore and invest in. This selection encompasses well-established cryptocurrencies like Bitcoin (BTC) and Ether (ETH), along with a multitude of altcoins and tokens. Whether you're interested in popular choices or more niche assets, FXtrategy's offering caters to traders with varying strategies and risk preferences.

Cryptocurrencies Available

How to open an account?

Follow the steps below to open a brand-new investment account.

Look for the “Open account” button on the www.fxtrategy.com website.

Then, you will see an electronic form to enter all your personal information required to open a new investment account.

Fill in all the information requested in this form.

Before submitting your information for review, please take a moment to familiarize yourself with the Terms and Conditions and Privacy Policy.

Once you have read all the terms and conditions, indicate your agreement by checking the box.

Enter your data by clicking on the “Register” button.

Deposit money into your account using a wide range of deposit methods.

Start trading hundreds of assets through our Platform.

How to open an account

Fees

The maker and taker fees at FXtrategy are as follows:

  • Maker fee: 0.10%

  • Taker fee: 0.15%

These fees are charged on a sliding scale, meaning that they are lower for larger trades. For example, a trade of \$10,000 would have a maker fee of 0.08% and a taker fee of 0.13%.

FXtrategy also offers a volume-based discount program, which can reduce the maker and taker fees for traders who trade a certain amount of volume each month.

Here is a table that summarizes the maker and taker fees at FXtrategy:

Trade size Maker fee Taker fee
\$100 or less 0.10% 0.15%
\$1,000 or more 0.09% 0.14%
\$10,000 or more 0.08% 0.13%
\$100,000 or more 0.07% 0.12%
\$1,000,000 or more 0.06% 0.11%

Payment Methods

When it comes to payment methods, FXtrategy offers users a variety of options, including bank transfers, credit cards, debit cards, and cryptocurrency. This diverse selection enables users to choose the payment method that aligns with their preferences and needs. However, it's worth mentioning that withdrawal and deposit fees can vary based on the user's location and the chosen payment method.

For withdrawals, FXtrategy imposes a $25 fee for bank transfers, while credit card and debit card withdrawals incur a 5% fee based on the withdrawal amount. Withdrawals made in cryptocurrency are subject to varying fees depending on the specific cryptocurrency being withdrawn.

On the deposit side, bank transfers come with no fees, offering a cost-effective way to fund your account. However, credit card and debit card deposits are subject to a 3.5% fee based on the deposit amount. Depositing funds using cryptocurrency is free of charge, providing an alternative for those seeking to avoid additional fees.

In terms of processing times, FXtrategy aims to provide efficient service. Withdrawals typically take up to 3 business days to process, while deposits are processed faster, with a turnaround time of up to 1 business day. It's important to keep in mind that the exact processing times may vary based on factors such as the user's location and the payment method used. For a detailed breakdown of fees and processing times, users are encouraged to refer to FXtrategy's official documentation or contact their customer support team.

Payment Method Deposit Fee Withdrawal Fee Processing Time
Bank Transfer Free $25 Up to 3 business days
Credit Card 3.5% of deposit 5% of withdrawal Up to 3 business days
Debit Card 3.5% of deposit 5% of withdrawal Up to 3 business days
Cryptocurrency Free Varies Up to 1 business day

Please note that the withdrawal and deposit fees may vary depending on the user's location and the payment method used.

Payment Methods

Educational Resources

FXtrategy provides a range of educational resources and tools to assist users in enhancing their trading knowledge and skills. These resources may include tutorials, articles, videos, and webinars that cover various aspects of virtual currency trading. The platform aims to educate users about basic concepts, trading strategies, technical analysis, and risk management.

In addition to educational resources, FXtrategy may also offer tools to assist users in their trading activities. These tools can include real-time market data, charts, indicators, and analysis tools that enable users to make informed trading decisions. By providing these resources and tools, FXtrategy aims to empower users with the necessary knowledge and tools to navigate the virtual currency market effectively.

It is important for users to utilize these resources responsibly and to supplement their learning with additional research and analysis. Trading virtual currencies involves risk, and users should always exercise caution and make informed decisions based on their own analysis and understanding of the market.

Is FXtrategy a Good Exchange for You?

For Beginner Traders:

FXtrategy presents a compelling choice for beginner traders due to its competitive trading fees, ranging from 0.10% to 0.15%. These low fees can significantly reduce trading costs, making it an attractive option for those new to cryptocurrency trading. Additionally, the availability of round-the-clock customer support via email, live chat, and WhatsApp ensures that beginners can seek assistance whenever they need it. The inclusion of multiple payment methods, such as bank transfers, credit cards, debit cards, and cryptocurrencies, enhances convenience, offering beginners a user-friendly platform to start their trading journey.

For Experienced Traders:

Experienced traders may find FXtrategy less appealing due to the absence of advanced trading features and tools that they often rely on for more complex trading strategies. While the exchange's competitive fees remain advantageous, the lack of advanced options could limit its suitability for experienced traders who require more sophisticated trading capabilities. Furthermore, the exchange's unregulated status may raise concerns among experienced traders seeking the security of a regulated trading environment.

For Cryptocurrency Enthusiasts:

Cryptocurrency enthusiasts will appreciate FXtrategy's extensive offering of over 50 cryptocurrencies, providing a diverse selection to explore and invest in. The competitive trading fees, ranging from 0.10% to 0.15%, align with the cost-conscious approach often favored by enthusiasts. The availability of multiple payment methods, including cryptocurrency deposits, adds convenience to the trading experience. However, it's essential to note that the exchange's lack of advanced trading features may limit its appeal to enthusiasts looking for more comprehensive tools.

For Investors Seeking Regulatory Compliance:

Investors who prioritize regulatory compliance may be hesitant to choose FXtrategy due to its unregulated status. The absence of oversight from an official financial authority may pose higher risks for investors seeking legal safeguards and regulatory protections. While the exchange offers competitive trading fees and a wide range of cryptocurrencies, investors who value regulatory compliance may explore alternative platforms that adhere to stricter regulatory standards for added security and confidence in their investments.

Is FXtrategy a Good Exchange for You

Conclusion

In conclusion, Xtrategy presents a compelling option for traders seeking competitive trading fees ranging from 0.10% to 0.15%, ensuring cost-effective trading for both beginners and experienced traders. The 24/7 customer support via Email, live chat, and WhatsApp adds to its user-friendly approach. Moreover, the availability of multiple payment methods, including bank transfers, credit cards, debit cards, and cryptocurrency, enhances convenience. However, the platform might fall short for advanced traders due to the absence of advanced trading features. Additionally, while it supports over 50 cryptocurrencies, some newer or less-known options may be unavailable. The lack of regulatory oversight is worth noting, potentially posing higher risks for users.

FAQs

Q: Can I trade NFTs?

A: No, FXtrategy does not offer NFT trading.

Q: Where is my money stored?

A: FXtrategy stores the majority of user funds in cold storage for added security. A small portion is kept in hot wallets for trading.

Q: What countries are restricted?

A: FXtrategy is restricted in several countries, including the United States, Canada, Iran, North Korea, Sudan, and Syria.

Q: Is KYC needed?

A: Yes, KYC (Know Your Customer) is required for all users of FXtrategy. Users must provide identification documents and proof of address.

Q: What is the minimum deposit?

A: The minimum deposit for FXtrategy is $100.

Q: Does it offer margin trading?

A: No, FXtrategy does not offer margin trading.

User Review

User 1:

“Xtrategy is a solid choice for traders seeking cost-effective solutions with competitive fees ranging from 0.10% to 0.15%. The platform offers 24/7 customer support through email, live chat, and WhatsApp, ensuring assistance is always within reach. Multiple payment methods, including bank transfers, credit cards, debit cards, and cryptocurrencies, add flexibility to transactions. However, advanced traders may find the platform lacking in specific tools, and some lesser-known cryptocurrencies may not be available. Additionally, Xtrategy operates without regulatory oversight, which may raise concerns about security.”

User 2:

“Xtrategy pleasantly surprises with its competitive fees, ranging from 0.10% to 0.15%, making it a budget-friendly choice for traders of all levels. The availability of 24/7 customer support via email, live chat, and WhatsApp enhances the user experience. Multiple payment methods, such as bank transfers, credit cards, debit cards, and cryptocurrencies, offer convenience. However, advanced traders may miss specialized tools, and the platform might not support some lesser-known tokens. It's crucial to note that Xtrategy lacks regulatory oversight, which could be a security concern for users.”

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.