FXCitizen

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.