FXCess Exposed: Traders Report Profit Deletion, Withdrawal Problems and Questionable Regulation

FXCess is an online forex broker registered under Notesco (BVI) Limited in the British Virgin Islands. Despite offering Classic and ECN accounts, MetaTrader 4 and access to various financial instruments, the broker has attracted concerns over its regulatory standing and customer experiences.

According to WikiFX, FXCess currently has a WikiFX Score of 1.61 out of 10 and is classified as Unverified, Questionable Regulatory License and High Potential Risk. Its profile also warns that no forex trading licence has been found.

▶ Have you traded with FXCess? Share your reviews and experiences on WikiFX: https://www.wikifx.com/en/dealer/6661853745.html. Your feedback could help other investors make more informed decisions.

Beyond these regulatory concerns, several traders have shared complaints about their experiences with the FXCess broker.

Contents

01

Traders Report Deleted Profits and Account Restrictions

02

WikiFX Field Survey Finds No FXCess Office in the UK

03

Concerns Over Regulatory Authenticity

04

What Should Traders Consider?

Traders Report Deleted Profits and Account Restrictions

One of the more serious complaints was submitted by a user from Portugal on March 11, 2023. The trader alleged that FXCess deleted trading profits, blocked the account without providing a satisfactory explanation and failed to respond adequately to attempts to resolve the matter.

The user described the experience as fraudulent and advised other investors to avoid the broker.

Another detailed complaint was submitted by a user from Italy on September 19, 2024. The trader claimed to have deposited a total of approximately $29,000 across several investment attempts and subsequently accumulated reported profits of around $42,000.

According to the complaint, withdrawal requests were delayed and the trader was warned that the account could be restricted because of excessive profits. The user further alleged that unfamiliar high leverage trading signals appeared on the account, resulting in the reported loss of the accumulated profits.

WikiFX Field Survey Finds No FXCess Office in the UK

Regulatory uncertainty is not the only concern highlighted by WikiFX.

On July 19, 2021, WikiFX investigators conducted a field survey at the broker's publicly listed UK address, 12th Floor, Broadgate Tower, 20 Primrose Street, London, EC2A 2EW.

According to the survey report, investigators arrived at the office building but could not locate any company logo or other identifying information belonging to FXCess.

WikiFX subsequently classified the investigation as a Danger finding, concluding that no FXCess office could be found at the stated business address. The report advised investors to exercise caution when considering the broker.

Concerns Over Regulatory Authenticity

Another user from Japan raised concerns about the authenticity of the broker's regulatory licence, expressing suspicion that the licence might be cloned.

This concern is particularly relevant when examining FXCess regulation.

WikiFX currently identifies an unverified United Kingdom FCA Forex Execution License (STP) under NOTESCO UK LIMITED, reference number 585561. However, the registered FXCess entity is Notesco (BVI) Limited.

The presence of a separately named FCA regulated company does not automatically establish that the FXCess broker itself is authorised under that licence. Investors should verify the precise legal entity and regulatory permissions before opening an account.

Read the latest broker review of FXCess here: https://www.wikifx.com/en/news/details/202611066704978635.html

What Should Traders Consider?

The available WikiFX feedback also includes mixed experiences. A user from Mexico described the trading platform as fast and stable but considered the ECN commission of $4.50 per lot round turn relatively expensive. Another user from Thailand appreciated the broker's educational materials, while the Japanese reviewer expressed concerns about its regulatory authenticity.

Nevertheless, the combination of a low WikiFX Score, an unverified regulatory anomaly, complaints involving account restrictions and withdrawals, and a negative UK field survey warrants attention.

For anyone conducting a review FXCess, these findings showcase the importance of verifying the actual operating entity, checking regulatory permissions and carefully evaluating the broker before committing funds.