FXOpulence- Suggestion needed

Broker Discussion
#1

Hello, Babypips Community! I have been using the FXOpulence broker for the last two months, and I haven’t faced any problems till now. Apart from that, I also withdrew profit three times within this period. Actually, I started trading with the broker with a very small amount, as I am trading with FXOpulence for the first time. However, so far, I am impressed with them. Especially the facilities of having a low spread in crypto trading pairs and facing no requotes during news time with the broker impressed me very much.

So now I want to deposit a large amount in my trading account with the broker, but I am in a little confusion about it. So, I have a question for the traders at Babypips- Is there anyone in this forum trading with the FXOpulence broker with a large amount of capital? Please share your experience because it will help me make a convenient decision.

#2

are they regulated?

1 Like
#3

What’s the problem you’re having?

#4

that’s about the only thing that matters, isn’t it?

because if they’re properly regulated, anything they do to your account/funds, by malfeasance, negligence, crookery, account manipulation etc etc etc will be correctable, and you’ll have a real regulator on your side - whereas if not, you’ll just have no real protection at all

unfortunately, FXOpulence is yet another of those many “tricksy” counterparty market-makers who make a big deal on their website out of being “regulated” (they claim)

the reality is very different, sadly - it’s true, they have one company that’s ASIC-regulated, but that ISN’T the one where most of the accounts are opened! they’re opened with a different company which is “regulated” only by the financial services authority of St. Vincent & The Grandaines, lol, lol, lol … that’s another way of saying “unregulated”, of course, from the customer’s perspective of being protected

it doesn’t matter - respectfully, Elliot, that’s no way to decide whether it’s safe to send “large funds” there: the only sensible way to do that is to start by checking whether YOUR ACCOUNT is ASIC-regulated (if it is, then you have nothing to worry about), and if not, switch either to one that is, or to another broker where you’ll have some protection

as anyone who has ever worked in the industry will tell you, it’s honestly as simple as that :sunglasses:

#6

Hello Ellio! I have been using FXOpulence broker since the beginning of this year and I am yet to discover any issue related to trading with the broker. To be particular, their live support team is really supportive and prompt.

You were talking about big capital, but I don’t know actually what amount seems big to you or what amount of capital you are indicating. My trading capital is more than 10K and I have never faced any withdrawal-related problems with this broker.

#7

Well! Thank you so much for sharing your experience. I will keep all your points in mind.

#8

Hello Same, Actually, I didn’t face any notable problems, but I think if they provided a free VPS service for traders with big capital, it would be better.

#9

Hi! I used the FXOpulence broker for some days late last year, and I had a good trading experience with them. Especially after trading with the broker, I feel that the broker treats small capital traders the same way it treats big players. But as per my trading system, I needed some exotic pairs to trade that the broker couldn’t provide me with. That’s why I left the broker, but I will be back to the broker very soon to trade gold because, even though I used the broker for a few days, their dedicated support impressed me highly.