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    Overview of illegal broker activities FXCitizen – reviews about fraud

    FXCitizen is a brokerage company that began operations in 2010, opening its first office in New Zealand. Since then, the company has strived to provide traders with professional services for trading the foreign exchange market, using the MetaTrader 4 platform and offering various account types for traders of all levels. However, despite the promises and potential benefits, investors do not see the point in trading on this site, since the administration of the office blocks cash out.



    Year of foundation


    Affiliate program


    Regulation and jurisdiction





    [email protected] 

    Pot 805/103, Rue D’auvergne, Port Villa, Vanuatu

    • Min Deposit $10
    • Do not pay
    • Offshore kitchen
    • High shoulder
    Trading Platform

    MetaTrader4 (MT4)

    MetaTrader5 (MT5)

    FXCitizen Trading Platform

    Mobile Platform

    Types of accounts

    Cent Micro Account

    Standard Mini Account

    Premium Zewo Account

    Premium ECN Account




    Credit cards Visa/Mastercard/Maestro

    Electronic wallets


    International payment systems Perfect Money


    Min Deposit



    Up to 1:1000


    From 0.0 points (fixed and floating)

    Financial Instruments

    Cryptocurrency, currency pairs, CFDs on indices, commodities, precious metals, shares of international companies, energy

    Order execution

    Instant Execution


    Welcome bonus for first deposit up to 35%

    Weekly competitions for regular customers

    Regulation and broker reliabilityFXCitizen

    Sharashkin’s office declares its registration and regulation in the Republic of Vanuatu by the Financial Services Commission. This makes it clear that the company is committed to following certain financial standards and ensuring the interests of its clients are protected. Regulation in Vanuatu does not meet the rigor and requirements of more developed financial jurisdictions such as the US, UK or European Union. This raises certain concerns in terms of investor protection and transparency of broker operations.

    In RuNet there are provocative reviews from traders about working with FXCitizen, including complaints about difficulties with withdrawing funds and accusations of insufficient transparency of trading conditions. These comments serve as an important indicator to potential clients and require careful consideration of the organization’s credibility.

    It’s strange that the company is opening its headquarters in New Zealand, but is trying to hide behind an offshore auditor’s license. This is the principle that scammers work on. The kitchen serves investors illegally in Russia as well, since there is no license from the Central Bank of the Russian Federation.

    Broker informationFXCitizen

    Sharaga positions itself as a company offering a high level of leverage up to 1:1000, which is one of the highest on the market. This level of leverage can offer significant profit opportunities, but also carries a high level of risk, especially for new traders. The company claims to provide its clients with access to the popular trading platform MetaTrader 4, which is widely known for its analytical tools and the ability to use trading advisors.

    Reputable financial auditors do not recommend contacting companies offering leverage above 1:30-1:50. Unsurprisingly, Sharaga has no legal basis to work in the EU or the US.

    Despite the stated benefits, there are concerns about the reliability and transparency of the trading conditions offered FHCitizen. The lack of regulation by leading financial authorities and user complaints about problems with withdrawals signal the potential risks of working with this broker.

    There is practically no reliable information. The anonymity of management only increases doubts about reliability FXCitizen official website closed to users. To get all the information, you must register an account. This is a manipulation to collect personal data.

    Terms of trading with the FXCitizen scam

    Sharashka offers several types of trading accounts, each designed to meet the needs of different categories of traders, from beginners to professionals. However, there is no significant difference between them, since all accounts provide trading within the platform without transferring transactions to the interbank market.

    FXCitizen provides access to the popular MetaTrader 5 terminal, which is one of the most widespread and functional platforms for online trading in the Forex and CFD markets. MT5 has the following features:

    • support for all types of trading operations;
    • advanced analytical capabilities with more than 50 built-in indicators and graphical tools;
    • the ability to use advisors (EA) to automate trading;
    • multilingual interface and support;
    • Possibility of trading from mobile devices and via a web browser.

    The listed advantages are offset by manipulation of quotes. Fraudsters prefer to manage quotes themselves, refusing the services of liquidity providers. Therefore no one can make money with FXCitizen personal account It’s better not to open here.

    Trading conditions:

    • The minimum entry threshold is only $10. Loyal recruitment requirements attract newcomers;
    • spreads: the broker offers floating spreads, starting from 2 pips for standard accounts and reducing to 0.6 pips for Premium Zero accounts;
    • commissions: for the Premium Zero account a fee of 1 pip per lot is charged, while for other accounts there are no such costs;
    • instruments for trading: currency pairs, commodities, while the available range may vary depending on the type of account.

    The scammers do not offer anything exclusive. This is a standard set for any Forex kitchen.

    Risks of cooperation with drain broker FXCitizen

    One of the main disadvantages of cooperation is the issue of regulation. The broker is registered in the Republic of Vanuatu, a jurisdiction that is not always associated with strict financial regulations and a high level of investor protection. Regulation in such offshore zones may not provide the same level of security of funds and transparency of transactions as guaranteed by more stringent regulators (for example, the FCA in the UK or CySEC in Cyprus).

    On the Internet you can find mixed reviews about working with the office, including complaints about delays in withdrawing funds and accusations of opaque trading conditions. The negative experiences of some clients serve as a warning to potential traders and indicate possible problems in the broker’s work.

    Although FXCitizen offers attractive trading conditions such as high leverage and access to the popular MT5 platform, there are certain aspects that may be perceived as disadvantages. For example, trading fees on some account types and relatively high spreads can significantly reduce trading profitability, especially for traders dealing with low volumes.

    Depending on the preferences of the trader, the range of trading instruments offered by Sharaga will be limited compared to other brokers. This will be a significant disadvantage for traders who want to work with a wide range of assets, including stocks, cryptocurrencies and other financial instruments.

    Although FXCitizen offers customer support, quality and speed of service may vary. Some users report difficulty getting timely and comprehensive answers to their questions, which causes additional inconvenience and stress during the trading process.

    Traders point to a lack of transparency in trading conditions and broker policies. It is important that all commissions, spreads and other trading terms are clearly stated before the start of cooperation to avoid any unpleasant surprises in the future.

    Expert opinion

    Eugene Rudenko

    FXCitizen pretends to be a legitimate, reputable broker, but in reality this is a cheap kitchen. Scammers block the withdrawal of funds, open transactions without the knowledge of clients, and use manipulations with quotes to knock out investors’ stops. Beginners should stay away from this scam.

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    Reviews about the broker FXCitizen

    An analysis of reviews of working with a broker reveals serious problems that clients face, including technical shortcomings of the platform, issues of reliability and transparency of the broker’s actions, as well as difficulties with withdrawing funds.

    These comments highlight the importance of choosing a broker carefully and serve as a signal to reconsider the decision to cooperate with FXCitizen reviews confirm the fact that there is no opportunity for profitable trading.

    Traders are experiencing loss of funds due to positions being closed without their knowledge, indicating technical problems or opaque risk management policies. Allegations of fraud and company name changes raise questions about the broker’s reputation and history in the market.

    Technical problems, such as trading terminal freezes and poor order execution, make trading significantly more difficult. Difficulties with withdrawals and changes in trading conditions without warning highlight the importance of financial transparency and broker reliability. Restrictions on the use of trading strategies, such as scalping and the use of advisors, hamper the hands of traders.

    In Runet there is not a single complementary comment addressed to FXCitizen review opinions of practicing traders only once again emphasized the risks of cooperation with the organization.


    User experience shows that beginners should refuse services FXCitizen Investments in trading with this broker will result in the loss of your starting capital. To everyone who doesn’t know what to do if the broker deceived you, it’s worth getting in touch with our managers. Experienced specialists will help you make a refund using chargeback.


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    How do customer reviews influence FXCitizen on the company's rating?

    Customer reviews are one of the main criteria influencing the reputation and position of a broker in the ranking of reliable companies. You can view reviews about FXCitizen on the main page of the broker’s profile.

    How to write a review about cooperation with FXCitizen Online Forex rating?

    You must register on the official Forex Rating website. This procedure is free and will take very little of your time. To confirm your registration, you will receive an email with a link where you will find detailed instructions on how toleave a review about the company FXCitizen.


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