FXPioneet is a forex broker whose domain was registered on June 28, 2024. This broker primarily offers investment services in trading markets such as forex, digital currencies, metals, energy, futures commodities, and indices. It does not serve countries or regions where it might violate local laws or regulations.
Company Registration Information and Regulatory Status:
According to information on the FXPioneet website, it is registered in the United States under the corporate entity FXPIONEET LIMITED and is regulated by the U.S. Financial Crimes Enforcement Network (FinCEN) and the National Futures Association (NFA). However, the company has not published its registration number or related license details on its website.
Upon verification, FinCEN does show a registered entity named FXPIONEET LIMITED, but neither the Financial Industry Regulatory Authority (FINRA) nor the National Futures Association (NFA) have any regulatory information about the company. Furthermore, FinCEN's mission is to protect the financial system from illicit use, combat money laundering and its related crimes (including terrorism), and promote national security by strategically using financial authority and by collecting, analyzing, and disseminating financial intelligence. Therefore, it has lower constraints on normal financial derivatives trading.
Moreover, the "Terms and Conditions" page on the broker's website cannot be opened, and it lacks actual content. Therefore, FXPioneet is essentially a fraudulent broker website without any company entity or regulatory oversight.
Trading Products:
FXPioneet offers a variety of trading products, including forex, indices, metals, commodities, and cryptocurrencies.
- Forex: Forex trading involves the exchange of different currencies, known for its high liquidity, allowing traders to profit from exchange rate fluctuations.
- Indices: Index trading allows speculation on the performance of entire markets or specific sectors without trading individual stocks. By exploring popular indices, one can find diverse trading opportunities and use high leverage to enhance potential returns.
- Commodities: Commodity trading covers essential resources on global markets, allowing traders to buy and sell a variety of raw materials, including metals, energy, and agricultural products.
- Precious Metals: Precious metals trading involves buying and selling gold, silver, platinum, and palladium in financial markets. Due to their scarcity and industrial use, they are often considered a means of preserving value and hedging against inflation.
- Stocks: Stock CFDs (Contracts for Difference) are derivatives that allow traders to speculate on the price movements of individual stocks without owning the underlying stock. These products enable traders to profit from the price fluctuations of stocks without holding the asset itself.
- Cryptocurrencies: Cryptocurrency trading provides digital currency enthusiasts with the chance to profit from high volatility assets.
Account Opening:
FXPioneet Account Opening: Visit the broker's website, click the "Open Account" button on the homepage or in the top right corner of the page to access the account registration page. First, fill in your email address to receive a verification code for validation, then set a login password and submit. After submission, the account will be successfully registered.
Trading Account Information:
FXPioneet offers users a demo trading account and two different types of live trading accounts: STANDARD ACCOUNT, and ECN ACCOUNT.
STANDARD ACCOUNT:
- Trading platform: FXPioneet
- Trading speed: Instant execution
- Products: Commodities, Futures CFDs
- Maximum trading leverage: 1:500
- Spreads: From 1 pip
- Trading commission: 0
- Minimum deposit amount: $200
ECN ACCOUNT
- Trading platform: FXPioneet
- Trading speed: Instant execution
- Products: Commodities, Futures CFDs
- Maximum trading leverage: 1:500
- Spreads: From 0 pips
- Trading commission: $6 per round trade
- Minimum deposit amount: $200
Trading Platform:
The FXPioneet website claims to offer a proprietary trading platform, available both on the web and mobile. However, the mobile download link does not work, and the web-based trading platform is the same program used by multiple fraudulent brokers.
Deposits and Withdrawals:
FXPioneet supports deposits and withdrawals via Mastercard, VISA, NETELLER, Skrill, and bank transfer.
Conclusion:
Traderknows reminds investors that FXPioneet is actually a scam broker website with no valid regulation, and the website does not provide any contact information. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
