Read our 7xfx review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a 7xfx.com review.
| Broker | 7xfx |
| Website | 7xfx.com |
| Regulation | None |
| Broker Type | Scam |
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 7xfx 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.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
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 7xfx 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. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
7xfx Review Conclusions
Making the 7xfx 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 7xfx 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] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Everything you described happened to me. 7xfx is a total scam. I can not withdraw any funds despite multiple emails.
They simply won’t let you withdraw your funds
Your correct 7xfx is a total scam, I have requested a refund and they are saying that this needs to be confirmed verbally after fobbing me off for a week, they just want to try and get more funds out of me.
i have lost all my savings they got me to transfer it from my binance account. it wasn’t much but alot for me is there anything I can do to get my money back
I semi signed up i.e. I just put in my email address & mobile number THEN thought NAH!! this company is not for me. So I stopped didn’t go any further. 1 or days later I got a call from a man with an accent, He called me by my 1st name, I told him I don’t want to go any further with “registering” with them, I got asked “So why did you sign up/register then?” Can somebody tell me since WHEN did it become a crime to change your mind ?!
I got another call 1 or 2 days later, told then AGAIN stop calling me & remove me from their database from that same day- I was called 10 + times back to back calling me in 1+ hour from multiple different phone numbers non UK & UK numbers everyday 5 to 8 times a day even today – 14/1/2022. Pathetic “company”. They’ve either sold my number on to other companies or it’s them being a DISGUST PEST!!! DON’T SIGN UP WITH THEM- RUN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! they aren’t worth the HEADACHE & are RUBBISH!!!
I am also battling to get my funds withdrawn from them. Fortunately it is a relatively small amount, but for me it’s about the principle of not returning what is rightfully yours.
After an article on This Morning about Quantum AI and fx investment. I googled it and filled out a form online and I got a call within minutes. The call continues from different sources up till today and all saying different things using UK numbers band claiming to be my account manager and to help me set up an account, but when you call back the phone numbers never go through.
Anyway, the guy took me through registration and I added money/crypto. No check was done to verify my identity and all they want is for me to deposit more money/crypto.
As soon as the money was deposited, something rang in my head and I thought this was too easy and all they speak about is how you add more money and make more interest. While the guy was still on the phone with me I googled the 7xfx and I knew I made a mistake. I read articles and warnings from FCA and other UK citizens.
I played along and ask the guy to show me how withdrawal works because all he was talking about is the deposit. He asked why I wanted to withdraw any money and he went through it demonstrating it to me but I insisted on making a withdrawal and seeing the money in my PayPal/bank/crypto account. I deposited £200 and noticed immediately they deducted £50. When I mentioned the £50 deduction he said he will add a measure of goodwill and he did but I was never able to withdraw it.
I convinced the guy to withdraw $100 into my account which he did but it took almost a week to get the money while receiving emails with different names and claiming to be different departments confirming my request or asking me to confirm again by replying to the emails. And while I was waiting for the money to hit my account the guy was still booking appointments with me and trying to convince me to add more money. I already convinced him I was going to deposit £6,000 but I wanted the withdrawal first.
Eventually, when the withdrawal was not fulfilled and he keeps badgering me to add more money with examples of people buying mansions and making money, I eventually told him that I read reviews especially Trustpilot and FCA warnings and that I don’t trust the company and they are not recognised by FCA nor registered with UK government, therefore, I am not protected in case something happens. Then there was a long discussion with the guy talking about bank reviews not important, why FCA is not important because 7xfx is an international company, that other UK investors making thousands and millions etc
I already gave up when the withdrawal was paid into my Coinbase account and the guy called straight away trying to convince me to add money since I had received my withdrawal. He would call every day and spend over 30 mins up to an hour on phone with me to convince me to deposit money and we keep going on about the same discussion not to trust reviews, to ignore FCA and UK govt advice but I stick to my gun and ask him to close my account, which I already did online by requesting for withdrawal of my remaining fund and closure of the account. The closure and withdrawal requests were ignored but still, I keep getting calls from different people asking why I want to close my account, why this why that, very rudely and aggressively and no matter what I said they kept calling saying don’t you want to buy a mansion, don’t you want to be rich and retire now, don’t you want to buy an aeroplane etc.
Along the line, they logged me out of the account completely and I had no access. I gave up completely and was angry and called them scammers on the phone and I stopped picking up their calls.
Along the line, I was still getting different calls from different companies claiming to be my account manager with funny accents. Suddenly like 10 days or so after payment was made into my Coinbase account again and I was just so happy I managed to get something back.
Still, they keep calling to convince me to add money. I still got a call from a lady last Friday 21st January and she spent like 30 min in the morning till I asked her to call back later in the evening and she did and spent like an hour on the phone trying to convince. At least she was polite and respectful and not shouting.
They may not be scammers, I don’t know because I got most of my £200 back but avoid for your own sanity.
Lucky I was able to find this page before activating my account. Since then they have not stopped calling me to activate it. I’ve told they every time to delete my account and stop calling. The respond in a rude way that it’s not possible and that they will send me more information on email and call me back later. So DON’T give them you info! They will never leave you alone!
Same I get these calls so constant and I told them to stop calling me and I had a call from from Thailand saying that they will call me in the next two hours and I was like no you not so I blocked the number something needs to be done
Biggest scammers haha they tried tell me take a loan and add more money when I’ve got a withdrawal request still there for about a week
I WAS ON THE PHONE WITH SOMEONE FROM THAT COMPANY TRYING TO CONVINCE ME TO GIVE THEM MY VISA NUMBER AND TO REGISTER ME,, A THOUGHT CAME TO ME AND I GOOGLED 7XFX WHILE I WAS ON THE PHONE WITH THEM. GOOD THING I DID, ONLY TO FIND OUT THEY ARE SCAMMERS.SO HAPPY I FOUND THIS SIGHT. NEARLY GOT SCAMMED.
THANK YOU.
You will regret it if you sign up with this company. Like most people say on here, they keep calling you to add more money. These calls tend to come from different countries. I signed up and lost all my money. So, if you sign up you will regret it!!!
Unfortunately I got duped. Luckily it was the minimum amount, US $150. Live and learn.
It makes you leary about any future financial ventures.
Same story with me total of £250 lost but live and learn. Left the account for about a month and now no funds avalible at all. Just keep getting so many calls from loads of different people asking me to sign up etc etc.
I learnt the hard way, I gave them the $250 which turned it to be $300 due to exchange rate.
The first week I started doing really well, so I thought. In less than 2 weeks I was up to $5000- , I thought, you beauty, I’ll withdraw $3000 & keep trading on $2000….. couldn’t get the money. They every excuse under the sun as to why it was impossible to transfer the money.
Then I worked out that they were using my money to make them money… so I started trading at a loss, right up till there was no money left.
After that I got relentless phone calls to top up my account. I was getting aggressive with them and for about 6 months it worked.
Till now, now they are claiming that they were gong from a public company & start trading as a private company and that they wanted to refund my money…. Wait for it, apparently I made $5000 out of zero amount in my account… and they wanted my bitcoin account to transfer the money.
I have blocked every number that they try to use, they just don’t get the hint of f#ckoff….. I have no clue how to delete the account, so I now use a air horn down the phone line every time they call.
Don’t deal with them, they are a MASSIVE SCAM.