FXCess

After reviewing FXCess, we assess it as a high-risk, likely fraudulent broker. Below we break down exactly why, and what your options are if you have already deposited.

Who is FXCess?

FXCess markets itself as an online trading and investment service. Its public site is presented at https://www.fxcess.com/. As with most operations of this kind, the polished front end conceals a lack of the basic protections a real, regulated broker is required to provide.

Is FXCess regulated?

We could find no evidence that FXCess holds a valid licence from any recognised financial regulator. Trading client funds without authorisation is one of the strongest indicators of a scam — there is no regulator to complain to, and no protection for your money.

Red flags we identified

• Account dashboards that show “gains” with no real market exposure
• Unrealistic profit claims and pressure to deposit more
• Aggressive “account managers” coaching clients to deposit
• No verifiable licence from a recognised financial regulator
• No credible physical address or verifiable corporate record

Our analysis

FXCess is not a reliable broker for traders even though it states offers that look good to be true. FXCess claims to be the trade name of Notesco Limited, a company registered in Bermuda with registration number 51491. However, we did not find any match results to FXCess or Notesco Limited in the Bermuda Monetary Authority (BMA). The regulatory information is a false statement for unsuspecting traders. The truth is that FXCess is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Can you recover money lost to FXCess?

If you have deposited with FXCess, do not pay any further “fees” to withdraw — that is part of the trap. Funds sent to operations like this can sometimes be traced on-chain and pursued through the exchanges and processors that received them. Whether recovery is realistic depends on how you paid and how quickly you act.