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Broker Currenex - analysis of the project, reviews of non-withdrawal of money, scam scheme
Currenex appeared in 1999 in the USA. This is the first open ECN. That is, a platform that combines supply and demand formed by brokers, banks, corporations, and funds. There is no way there for retail clients. You can work on the portal only after registration. One of its components is checking compliance with customer requirements
|Year of foundation
|Regulation and jurisdiction
USA (SEC), UK (FSA), Singapore (MAS)
City: New York
Phone: +1 (212) 340-1790
- Legal company
- Fast execution
- 60 global banks in quote providers
- High entry threshold
- Does not work with individuals
- Requotes and slippages
Bank of Transfer
Up 0,4 pips
Currency pairs, metals
ECN system for servicing corporations, treasuries, brokers, banks, funds
Currenex overview or what the company is
From the information provided on the website currenex.com, it was not possible to obtain a detailed history of the formation of the company, including the launch date of the project, information about the management, place of registration and license availability. The site provides general information that Currenex is a technology provider for FX trading, offering high-performance technology and deep liquidity pools for anonymous and disclosed trading. However, specific details about the history of the company and its leadership are not mentioned.
Yes, there are references to registration in the United States. In our case, we would like to see specific data, namely documents confirming this fact. We did not see screenshots of certificates or footnotes to documents. Of course, this makes you think about the reliability of the project.
From what the company offers, there is a support hotline with different codes. Two emails:
- Support service;
- sales department;
The company provides customer support 24 hours a day, 6 days a week, with teams in London, New York, Singapore and Tokyo, and also offers support in local languages in specific regions.
Terms of cooperation
Officeprovides an award-winning platform allowing clients to aggregate prices from over 60 banks, non-banks and liquidity from their anonymous ECN, FXTrades, into a single centralized order book. As a leading electronic trading platform, Currenex provides access to liquidity from banks and non-banks, as well as FXTradesTM, their anonymous ECN. Clients can select execution methods through Executable Stream Prices (ESP), Request for Stream/Request for Quote (RFS/RFQ), and Average Matching (Currenex MIDTM).
Currenex uses high-performance, low-latency technologies to provide a reliable trading experience. The company continues to invest in new technologies and initiatives to move the FX industry forward. Their proprietary technology provides multiple connection routes and the ability to aggregate anonymous and disclosed liquidity into one or more order books.
Currenex offers a “follow the sun” customer service model with integrated liquidity management, technical support and trading desks available 24 hours in Asia, Europe and the US. Teams in London, New York, Singapore and Tokyo provide 24×6 coverage, and local language support is available in specific regions.
The firm offers a variety of trading instruments including FX Spot, FX Forwards, FX Swaps, NDFs (SEF and Off-SEF), precious metals, and loans and deposits. These services and capabilities make Currenex a comprehensive forex trading platform, offering a variety of tools and technologies to meet the needs of different types of traders.
Please note that on the official Carrenks website there is not a single word about what specific terms of cooperation clients expect. Namely, not a word about the minimum threshold, assets, spreads, leverage and other nuances. All this is provided exclusively after opening your Currenex personal account. Of course, in this way, scammers can easily manipulate traders by promising one thing and delivering something completely different. Considering the feedback online, the company is doing just that.
The Currenex project is a trading platform, which, according to information received during the analysis process, raises serious concerns and doubts about its reliability. Despite claims about a wide range of tools and services, the company is accused of fraudulent activities. The office does not have clear regulation and is registered in Cyprus, which automatically reduces the level of reliability. Most terms of cooperation are available only after registration, that is, opening a Currenex personal account.
Reviews about Currenex
Let’s just say that there are not as many comments on the network as we would like, taking into account the declared length of service. Apparently, the organization is not very popular among traders, or the management pays to remove negative reviews.
In most cases, users were left without money. All attempts to withdraw funds do not yield any results. And trading is just a complete ordeal. Since the terminal constantly freezes and slows down, of course the transactions end in the red.
Note that there are a lot of reviews about Kurrenex on foreign forums and websites.
A review of Kurrenex reviews showed that the money remains in the scammers’ accounts. All attempts to withdraw money or balance from the account do not give any result.
Now regarding how the company scams users out of money:
- pattracting customers through spam messages. Fraudsters use spam messages on social networks to lure traders to their project;
- belief in reliability and experience. After attracting clients, scammers help with registration and convince them of their reliability, as well as the many years of experience of their employees;
- falsification of data and imitation of trade. Scammers make money from traders by falsifying data. Investors think they are participating in real trading in the financial market, while scammers debit their accounts with various amounts by making up quotes and simulating trading.
As a result of this scheme, the client’s deposit is constantly decreasing, transactions are not profitable, and clients often go into the red. After this, the scammers stop communicating and do not even return the remaining funds to investors. In general, nothing new, a common scheme for financial market swindlers.
Remember that it is possible to get your money back from the Forex kitchen and other scammers. Only a few launch a chargeback and see it through to completion. Just for consultation write to us. A forced transaction is truly a unique chance to get your money back.
Conclusion on the project
To finally put an end to the review of the service, we suggest you study the signs of divorce:
- removal of negative reviews. Negative comments are actively monitored by administrators and deleted, which makes it difficult to obtain objective information about the company;
- Currenex attracts traders through spam messages on social networks, convinces them of its reliability and many years of experience of its employees, and then makes money on traders through data falsification and simulating trading;
- as a result of fraudulent actions, the client’s deposit is constantly decreasing, transactions do not bring profit, and clients often go into the red;
- After losing money, scammers stop communicating with clients and do not even return the remaining funds. All attempts to withdraw money do not give any result;
- The contact information listed on the Currenex website is often unavailable, and clients cannot contact company representatives;
- clients can view company documents only after registering for the project, which is an unusual practice and may indicate an attempt to hide important information;
- Currenex’s official website publishes too little really necessary information for customers, despite the fact that the company has been operating for more than 10 years.
This is why you shouldn’t count on making money through investments with Currenex. Here we have the most common scammers.
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