Is EagleFX Scam or not? A Brief Overview, Pros and Cons

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The popularity of cryptocurrency is currently on the rise and this tendency does not seem to wither away. People earn heaps of money thanks to smart operations with selling, buying, and exchanging various cryptocurrencies for standard currencies. If you know the right places to invest in, you definitely earn a lot. In the meanwhile, the risk of losing your investments is also possible. That is why all traders ought to find reliable crypto platforms and brokers to deal with.

We want to review one crypto platform, which is rather suspicious. It’s necessary to clarify the main advantages and drawbacks so that you could see the picture big. The right information helps to define what platform can be trusted and what platform should be avoided.

The platform was established in the Dominican Republic in 2019 and so it’s relatively new to the market. Among its major benefits are:

  • Quick and simplified procedure of registration;
  • An active team of support;
  • 24/7 availability;
  • A free demo account with no time limits;
  • Can be used on various devices — PCs, cell phones, and tablets.

This platform is known as EagleFX. It also has certain drawbacks, which make its status doubtful and suspicious, people often ask: Is EagleFX scam or not?

  • It’s not regulated. As we know, it is not regulated by any jurisdiction or authority. Therefore, we cannot confirm or deny its legal status.
  • No client protection. This crypto platform does not offer any guarantees of protecting its clients. Therefore, you won’t get your money back if you lose it.
  • No passive income. The platform does not use any automated tools to conduct trades, manage your account, and so on. Accordingly, you will not get a passive income. You will have to complete the operations yourself to earn money.
  • No educational materials. Every highly reputed platform is supposed to offer educational materials that teach the newcomers how to use them correctly and effectively. This platform does not offer such materials, so it’s hard to understand how it functions.

As you can see, this crypto platform has a lot of crucial downsides. The most significant is the lack of regulation. It is unknown whether it’s legal and reasonable to use its services. Perhaps it’s much better to try the help of famous and highly reputed crypto platforms and brokers. Their legal statuses can be varied, and the necessary feedback can be found. Donotriskwithoutareason!