FxLift

FxLift review

FxLift is a CFD broker that is no longer regulated by CySEC. In our review, we warn traders to avoid trading with this broker due to numerous negative client reviews. Try alternatives.

10% 0.5 out of 5

Pros

  • In the past, this broker was under the supervision of a regulatory authority, but it no longer has that regulation.

Cons

  • FxLift is a broker based outside of major regulatory jurisdictions, which means it is not regulated by any recognized financial regulatory authority.

Basic information

Number of CFD asset classes
5
Broker type
MM
Customer support
Mail
Deposit from
1 EUR/USD
Spreads
2.5 EUR/USD *The value is indicative from the broker's website. The spread amount is variable.
Real Stocks and ETFs
—
Platforms
MetaTrader 4 (MT4)
Instruments CFD
Commodities, Share CFDs, Forex, Cryptocurrency traded as CFD, Indicies
Established
2011
Location
28 Irish Town, GX11 1AA, Gibraltar
Phone
+35725054210
E-mail
support@fxlift.com
Last update:
3.07.2024

Introduction of the broker FxLift

FxLift is a CFD broker offering a wide selection of trading instruments that include CFDs on stocks, metals, forex, spot indices, commodities, futures and cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Ripple. This broker is operated by Notesco Financial Services Limited, based in Cyprus, and is regulated by CySEC, which provides traders with a level of assurance regarding security and regulation.

FxLift allows trading on the MetaTrader 4 platform, which is available for a variety of devices including PC, MAC, Android and iOS. For those who prefer portfolio management, PMAM (Portfolio Management Account Manager) is also available.

Fees and Spread

There is no minimum deposit, giving traders the ability to start trading with flexibility. The minimum trade volume is around 20 EUR, which allows trading with smaller amounts. FxLift offers a demo account, which is a great way to try trading without the risk of losing real funds.

When it comes to fees, FxLift works with spreads and commissions on stocks. Spreads range from 1.2 pips for EUR/USD (0.5 pips for premium accounts). Deposits and withdrawals can be made via credit cards, NETELLER, Skrill and bank transfer, giving traders flexibility in managing their funds.

User Ratings and Experiences with FxLift

FxLift has an average rating of 4.4 out of 5 on Trustpilot based on 60 reviews. Users appreciate the good trading conditions and low fees, but some express concerns about the broker's trustworthiness. On Sitejabber, FxLift has a rating of 4.6 out of 5 based on 40 reviews, where customers praise the wide range of assets and competitive spreads, but there are also complaints about the withdrawal process. Forex Peace Army warns against FxLift, labeling it as a potentially fraudulent broker, citing issues related to its trustworthiness. These reviews indicate mixed user experiences.

Is FxLift a Scam or a Safe Broker?

FxLift lacks the necessary regulations, raising concerns about its reliability and safety. We cannot directly claim it is a scam, but we also cannot classify it as a safe broker. We recommend avoiding it for now. If you don't want to go through the hassle of searching for other brokers, you can try brokers like eToro or XTB. These brokers are supervised by the Czech National Bank and regulated in the EU. They offer stocks, fractional stocks, ETFs, as well as CFDs on commodities, indices, and other instruments. Both brokers also have a low minimum deposit and an unlimited demo account available with a virtual deposit of up to 100,000 USD. Based on our research results, we recommend traders to avoid the company Fxlift due to non-compliance with regulations and numerous negative client reviews. Despite their efforts to stay online, we recommend refraining from engaging in trading activities with Fxlift and its affiliated companies. The company is no longer regulated in the EU as it lost its license from CySec.

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