What’s so bizarre about the Forex market is the number of Forex brokers that pop up and then disappear without a notice. What’s even weirder is that new brokers then appear with the same design and relatively same name, so it gets you thinking, “What are these Brokers?”. Well, it is quite simple really. Most scam brokers disappear after they have been unearthed, lay low for a few weeks and then emerge completely rebranded, with no traces left from the previous brand.
This is why we believe that a thorough review of a broker is necessary before you commit to trading with them. Many traders avoid this job because they don’t want the extra hassle and decide to form their opinions on the spot. Unfortunately, however, forming an opinion while already trading with a specific Forex broker already takes more time, meaning that you not only risk your money but also lose more time.
This is why we have created this FXLinked review, in order for you to prevent any unnecessary loss in your time and money. Not only will you find out more about this specific broker, but you’ll also have more knowledge about rating them as a whole.
The general feel of the Website
First impression matter a lot when visiting Forex broker websites. But most importantly they’re good for noticing any potential scamming going on. To be honest, once we visited this broker’s website, an FXLinked scam was not the first thing on our minds. Later we remembered the costs of creating such websites and quickly came to our senses. You see first impressions could be important, but they could also be misguiding. Once you look at the details, you’ll quickly find out more.
However, we really need to commend the broker for the transparency provided here, it’s safe to say that it is one of the most transparent ones we’ve reviewed so far. We had no problem in finding out about the leverage information, the extra features and most importantly the regulators. The process was quite fast without too much jammed into our faces. But as we already said, first impressions could be tricky. This FXLinked review could not be based on the first few minutes of our experience.
Anyways, the essential information about the regulator was displayed and that’s what matters. FXLinked Forex Broker is regulated by the Financial Services Authority in Seychelles or FSA for short. However, this doesn’t mean that all of your concerns can go away, there have been quite a lot of cases when regulated brokers turned out to be scammers. Let’s continue.
Withdrawing money from an FXLinked account
When we first looked at the features we had a hard time believing that it was actually the case. According to the information that the broker gives you, there are absolutely no fees concerning withdrawals. In addition, they go the extra mile and say that they cover it themselves. Now let’s look at it from a realistic standpoint. Brokers that offer no withdrawal fees tend to be quite large players, very popular ones at that. However, FXLinked FX brokerage does not seem to be too popular or big does it? If it was you would have heard about it everywhere by now. The reason their offer is unrealistic is that it would be very unprofitable for them, business breaking even.
Why business breaking? Well, you haven’t heard the minimum amount you can withdraw yet. You can withdraw as little as $10 or the equivalent of it in other currencies. Now, why is this so bad? Well, imagine if the withdrawal fee is fixed and not based on a percentage. it would quickly rack up the moment some of the customers decide to withdraw their profits bit by bit. We’re sure you see our concerns here, it is just unrealistic, or even if it is real, it’s very vague.
In terms of time for withdrawals, it is your standard 24 hours for credit card and 3-5 business days for Wire transfers.
Accounts to find at FXLinked Forex broker
Now in every one of our reviews, we try to look at the account types. The reason is that the minimum deposit on that account needs to be relevant to the benefits you will be getting. FXLinked seems to have missed that point and has made the two accounts pretty much identical. The only difference we could find about them was the name. By the way, two types of accounts? That’s definitely not something you see everywhere. They feature only low-tier and high-tier, the mid-tier traders are disregarded. Either you will underperform or risk too much. A lack of diversity is a big minus.
Can FXLinked be trusted?
The tone of our review should have been already visible by now. It is no secret that our first good impressions were completely wiped away by the questionable decisions the broker has made in its offers. Is the broker a scam? Quite likely. Will you have a smooth trading experience? Quite the opposite. Should you go with this broker? Absolutely not.
All of the unrealistic offers and lack of diversity just weight it down too much. Definitely not recommended.