Read our Elite FX Trade review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a elite-fxtrade.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Elite FX Trade is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Elite FX Trade in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.
Elite FX Trade Review Conclusions
Making the Elite FX Trade review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Elite FX Trade review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected].
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
A few weeks ago I started using https://elite-fxtrading.com/. I could not find any reviews so I thought let’s try it out. You can start with as little as $20 to find out if they are the real deal. They have 4 packages.
1) Beginners Package
2) Silver Package
3) Gold Package
4) Joint Package
5) Platinum Package
Packages are broken up based on the investing amount. I used Bitcoins to invest and the trade takes just over 12 hours to settle here’s how it went:
Trade #1 – return was 30%
Trade #2 – return was 30%
Trade #3 – return was 30%
Trade #4 – return was 30% this is where the problem started
Trade #4 I was not able to withdraw, customer support said there is only 3 trades allowed in the beginner’s package (not mentioned anywhere on their site), so they will be holding my money until I deposit the full amount to participate in the silver package. They refused to refund the investment. Customer support is a what’s app number (011 44 7831 623036) the support person was extremely rude and belligerent and just was impossible to message with. They do not take calls.
They have business certificates saying they are registered with England and Wales and that they became registered on 29 October 2020 only 6 months ago.
There site says they have been working for 1030 Days, have 212,456 users, have had over $12,700,255 deposited and have had $102,654,733 withdrawn. The jury is still out on these guys. A 22year old (Hasan IQBAL) and a 23year old (Zaryab KHAN)
are the directors of the company. They are British Nationals and the business address is
1 Wood Street, Bolton, England, BL1 1EB.
My feelings are they are a scam, they just do not build trust.
hi joseph can you tell me who got in contact with you just one part of the name my name eddie thanks
Hello, thanks for sharing!!!
I was ask to pay $1000 to be able to withdraw my money, to those packages you mentioned… Is the only way to get the money smh … So angry $500 lost …
Hi everyone. I just wanna ask, how to request for withdrawal? They also asked to pay $1000 to be able to withdraw the profit. i don’t know it its the same but its also elitefx
Beste , hoe kan ik op voorhand zien of de website van de trading platformen gereguleerde forex-makelaar
en gerugaliseerde instantie is gerigistreerd
graag antwoord
ik dank u bij voorbaat
Mohamed
I was just about to sign up with this today and after doing some home work. Have realised these guys are slick scammers. They tell you what you want to hear n the day and keep the small print hidden untill to late
DONT GO THERE WITH THESE GUYS because if it sounds to good to be true it usually is to good to be true.
i have the same issue here with this broker “https://elitefx-options.com/” . i have been communicated with one person who create account for me for bitcoin and i sent deposit for silver package. i saw the profit is going up and once i started to make withdraws , they said you need to pay a fee and this fee is almost equal to the amount of deposit. they are now trying to force me to pay the fee and i’m sure they will not give me anything even if i paid the fees
THESE GUYS ARE SCAMMERS. Deposited $500 and I was told in order to get my profit I had to deposit another $1500. And then I still had to pay the verification fee of $3700. What a joke!! Working with my bank to try get my money back.
Well, lo and behold! They are on instagram now user id: traderinagam. At first, on chat said. If you have 3000php (75usd) you can invest, “he” walked you thru the process of buying bitcoins then asked you to send it to this address 3Byjz5rohd5dAE85ezs1qUd2YyDfsVSKJY (User: toborvilla12)
Then let you sign in to the elitefx-options website. Then it will show you the balance after a few minutes, then he will say, oh you can only start trade at $150. Then, it will show in “trade center” you have invested $150. After a couple of hours, he prompted me to check my balance, now it’s $800. Wow! Then an email was sent to me:
Dear investor,
Your profit has beat the maximum trade point.
You have to upgrade your trading account to enable all total profits withdraw successful.
Once trade account has been upgraded, then total profits amount will be on trade account worth your currency.
The required cost of upgrade will be added to your trade account once upgraded.
Upgrade fees will cost you $380
Congratulations once more
Once you’ve given the $380 again to the address: 3Byjz5rohd5dAE85ezs1qUd2YyDfsVSKJY
The USD Balance is now $6350. Email confirmation again said, thank you for the upgrade, wait for 6 hours so you can withdraw immediately. After waiting for 6 hours, an email was sent again, and:
Due to ongoing delay in the withdrawal process,it requires a Cost of Transfer code in accordance with section 13(1)(n) of the National Act as adopted in 1993 and amended on 3rd July 1996 by parliament.
You are to remit $850 which is for the COST OF TRANSFER(COT) and BANK CHARGES to enhance the immediate release of the COT CODE that will enable you complete the transfer of your total funds. This is in accordance with section 13(1)(n) of the National Act adopted in 1993 and amended on 3rd July 1996 by parliament.
This is to protect customer’s funds till it get reflected
Therefore you are required to send COT and Bank Charges of $850
Do reply with a screenshot of completed transfer.
Wallet address:1Q5aLZggre8XG7cHJc8wboRqqw4n2ntRU2
Your cooperation is highly solicited Best Regards
Thanks for choosinghttp://elitefx-options.c
Too much!!! I hope they’re souls are burning right now.
We have the same issues,I invest with them the amount of $200,after that they asking me to pay for the commission fee that is 40k PHP.after few days they ask me to upgrade my trade and I most pay #$18,000,.now I’m asking with my profit but they told me to pay $2550 to pay IRS charge so that my profit will directly delivered In my account..
We have the same issues,I invest with them the amount of $40,after that they asking me to pay for the commission fee that is 400.after few days they ask me to upgrade my trade and I most pay #$400,.now I’m asking with my profit but they told me to pay $163 to pay IRS charge so that my profit will directly delivered In my account..Please give me my money
Thank you ALL for posting your information. I got into this because of a REAL person I had worked with posting about having made thousands. I hadn’t spoken to her in person in years, asked for a phone call in years and insults me for not trusting her. I’m forced to comply or run. Always good to ask your *real* friends.
here’s a different site of the same thing; the one I’ve been duped thankfully only $96 out of: elitexchangetrade.com.
See other’s write-ups containing identical experiences to mine
Hello
So I got message on instagram from one lady and she is a trader so she told me to invest and then we chatted for few days and then i have invested money in Ethrum ETH on crypto app. Then I got an email from Elite Forex Trading with my generated profits then carried on further process where step by step I paid fees.
1. I paid fees to trader her 10%
2. I paid feed to get my profits
3. I paid fees to get IBPC certificate
4. I paid fees for token needed in tranferrig the funds to my account
5. I paid fees to upgrade my account
Now finally I am waiting to get my funds transferred to my account.
So according to this whole situation what do you think is this some kind of fraud or not??
@Anjali Panchani: It’s Fraud. Sorry.
Thank you for all your comment about problems with invest with Elite FX trade….,
I have invested with Guy recommend me on telegram and joined with group FXtradepro investment. Then I invested small amount $50. THen a day finish and my account grow up 7290$, wow. When I request to withdraw and email sent to me with a required to deposit $2302 about fee and upgrade account, but I did not. And untill today I due to $100 and They agree, but I am not to do it after I read all your comment. Thank you very much. Hope you are chose right company to invest as me have one and got profit.
Sad, i have try to withdraw my money and i got the notification success withdraw but waiting proccesing but until now still pending
Hi Nia,
I am curious. We’re you able to receive your withdrawal? I too received the same email buy wondering if they will send me my earnings.
Hi Dee,
I doubt it. I’m sure none of us we ‘invested’ our money on that platform will get our earnings. I’ve been exchanging emails regarding my pending request for a few days now and the only reply is this:
“Our expert trader and our AI matrix and miner guarantee your trade with a good ROI money back guaranteed so (TC) is needed, once you deposit for the TC your profits will be realease immediately.”
I replied with question which clause in the T&C’s of my trading account determines my obligation to pay (TC) for my withdrawal request to be authorised, but I haven’t received any reply yet. I’m not willing to pay any (TC) because I do believe it’s all a big scam. Company is not listed on Company Houses UK at all, the registration number of alleged company belongs to BREMBY LTD which was dissolved via compulsory strike-off in June 2023.
Hi did you get anything from them.
I’ve been talking to somebody online in Twitter for a little while. She’s very nice told me what she did for living but didn’t say much else. Continued to talk about our likes and dislikes, where she lives, all the normal stuff. Then she decided to ask if I was interested in investing with her company which is, drum roll please, Elite FX. That’s when I started looking for reviews and ended up here. I would have never invested online without knowing anything about the company and looking at reviews, now that I know, I can play along. For that matter since it’s on Twitter I could be talking to a guy. Who knows. When I’m holding four aces I really enjoy the game!
I’m very hurt of this matter. I talked to this guy from Instagram his name is Roland and he asked me to chat with him on whatsapp. So we started the invest with R500 as he said to me ,then he told me that there’s R800 hundred shot as the profit was pending. In order for me to get my profit I had to pay the balance of R800 and I did since I’ve been waiting as he ignores me. He keeps on telling me that his partner had not replied him yet he make profit for other people.
I was talking to someone by name Lisa lebert and was encouraging me to invest with elite fx trading and the below would be the returns
Minimum startup capital and trade profits returns 5 days.
$100 profits $1000
$200 Profits $2000
$300 profits $3000
$400 profits $4000
$500 profits $5000
$600 profits $6000
$700 profits $7000
$800 profits $8000
$900 profits $9000
$1000 profits $10,000
$2000 profits $20,000
$3000 profits $30,000
$4000 profits $40,000
$5000 profits $50,000
$6000 profits $60,000
$7000 profits $70,000
I will like to know your intending investment capital you wish to start with…
Am glad I came across these comments
I was scammed by the ELITE FX TRADE they tell me to pay $1,800 for me to get my profit and I pay them but not full I realized that this is a scam they kept on telling me a good promises but all those words are BIG LIE now they dont want to return the money back to me .
(1/5)
Same case here. I invested P125,000. After upgrading my account to gold level, hoping to withdraw my profits, I received an email asking me to deposit P30,000 (half of the commission fee) hoping to get my profits. But until now, they refuse to let me withdraw my profits. How can we recover our hard-earned money?
I had the same issues as the same as you. They stolen my money as well. They changed thier website address several times https://topelitefxtradeon.com/
Then https://topelitefxtradeon.lucbroo.com/en.
He was a Chinese man whom said me to deposit money in this website (he had several phone numbers) at first time and when I had compliments about the website to him, he insisted on me that they are true meanwhile I deposit about 5k USD there but I didn’t withdraw my own money till now.
(1/5)
Hi I have the same experience but company is now called ‘Elite FX trade expert’ http://www.elitefxtradeexpert.com. I’m 100% sure they are the same guys you’re all mentioning in your comments.
I came across with this company through Instagram account @hustlephilll, supposed to be account of Philip Johansen, after initial discussion about me and my money situation he suggested to talk on WhatsApp under name ‘Always Reliable24/7’ with phone number+1(217)750-3603. The guy was very kind guided me to open elitefxexperttrade account as well as binance wallet, I deposited $650 in bitcoins and within less than 24 hrs I could see balance of $10,200. Than I received email from support team that my account overrun so I need to deposit €1100 to upgrade from starter account to Basic account so I could withdrawn my profit. I did it and I received message on WhatsApp that company rewarded me $3000 added to my balance. After providing my SWIFT bank account details came another message:
[15/09, 16:57] Always Reliable 24/7: Lubi my company has approved your transfer but you’re to deposit €1,000 for transfer charge (TC) to enable our company transfer your profits directly from your trading account to your Revolut bank account.
[15/09, 16:58] Always Reliable 24/7: Once you have made the payment of €1,000 to our company wallet Address then your profits will be transferred immediately to your Revolut bank account.
[15/09, 16:58] Always Reliable 24/7: You have nothing to worry about as soon as payment is completed, your profit of $13,200 will be transfer immediately to your Revolut Bank account.
[15/09, 16:59] Always Reliable 24/7: Do you understand me?
I didn’t deposit anything since that message, had consultation with a friend who suggested to make a withdrawal request of my deposit which is now in pending status of approval. Company’s website states that ‘withdraw request will be processed instantly’.
This company is definitely a Scam!!!
(1/5)