FxLift review
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.Risk warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51 - 89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Basic information | |
|---|---|
| Number of CFD asset classes | 5 |
| Broker type | MM |
| Customer support |
|
| 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 |
|
| Instruments CFD | Commodities, Share CFDs, Forex, Cryptocurrency traded as CFD, Indicies |
| Established | 2011 |
| Location | 28 Irish Town, GX11 1AA, Gibraltar |
| Phone | +35725054210 |
| support@fxlift.com | |
| Last update: | |
Pros
Cons
Licences and regulation
We found no evidence that FxLift is regulated by any official financial regulatory authority. The absence of such regulation suggests that the company is not under the supervision of any regulatory body.
