Amplixx is just one among many unlicensed investment firms based in Saint Vincent and the Grenadines. After the Financial Services Authority declared itself unauthorized for Forex and binary options providers, scam firms saw it as an opportunity to register the firm without financial supervision. And that’s how we’ve got an increased number of scheme firms. Read this Amplixx review and you’ll see why we believe you should not be dealing with the brokerage.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | amplixx.com |
| Blacklisted as a Scam by: | CNMV, CMVM, Finanstilsynet, FSMA, CONSOB |
| Owned by: | Amplixx LLC |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation year: | 2021 |
| Supported Platforms: | MT5 |
| Minimum Deposit: | $250 |
| Cryptocurrencies: | Not Available |
| Types of Assets: | Forex, commodities, indices, shares |
| Maximum Leverage: | 1:500 |
| Free Demo Account: | No |
| Accepts US clients: | No |
Is Amplixx a Secure And Regulated Platform?
Amplixx is owned by Amplixx LLC, registered in Saint Vincent and the Grenadines. This company was incorporated in 2021 by an external agency. It means that nobody ever saw the owners. They simply paid to establish a shell firm to cover their investment website. This is happening more and more lately, and you should be pretty cautious. According to the FSA directive, all SVG brokers should opt for a license in the service country. Of course, Amplixx has never done it.
Amplixx is not a legitimate investment company. The broker is based offshore and has no license. The Spanish regulator issued an official warning against the scam. Beware.
How Unsafe Is An Unlicensed Broker?
Unlicensed brokers decide on their trading conditions. Nobody is controlling their activities. Funds can be held in the same place as the company’s and used for personal expenses. All this and more are the real issues with unregulated offshore brokers. And that’s the reason to avoid Amplixx and similar bogus firms.
Also, we want to invite you to read our recently updated reviews of fraudulent brokers 5Markets, CryptoGo365 and GF Markets. Be careful with these brokers.
Amplixx Warning from CNMV Financial Regulator
After Spanish CNMV received too many complaints, the regulator issued an official warning. This warning explicitly states that Amplixx provides unregulated financial services, including Forex trading and financial advising.
The same warning was later republished by the Italian CONSOB, Norwegian Finanstilsynet, Portuguese CMVM, and Belgian FSMA.
Traders’ Experience With Amplixx
Based on everything stated above, you can conclude that Amplixx broker is unreliable. Since the firm is not regulated, your money can easily be stolen. According to reviews, the broker doesn’t approve any withdrawal requests. In fact, clients that require a payout usually face blocked accounts. Be careful and avoid unregulated schemes.
What Platforms Does Amplixx Offer? – Available Trade Software
Amplixx offers MT5. This is the best trading software available on the trading market, and we have nothing bad to say. You will get a vast number of trading charts, indicators, and other tools. MetaTrader5 supports social trading and automated trading.
Yet, the issue is the broker itself. If trading conditions are not regulated, the platform doesn’t matter much. You’re risking being scammed.
All About Amplixx Accounts – Demo Account
The firm has 3 trading accounts, including:
- Basic – $250
- Gold – $25,000
- VIP – $100,000
There’s quite a significant mismatch of information about Amplixx minimum deposit. Account Types, Platform, and the main page suggest 3 different initial deposits. Since $250 is the industry standard, we assume this is the right pick. The broker doesn’t have a Demo account, so you must deposit to test the system.
In the meantime, avoid scammers like CryptoHold, ApexCrypt and EuroTrades. If possible, tell us about your scam experience.
Amplixx Broker – Countries Of Service
According to our review, this firm is mainly present in Spain. In addition, the broker operates in the UK, Belgium, Norway, Italy, and other places. However, Spain seems to be the biggest target, which is why CNMV was the first to issue a warning. Don’t invest with fraudulent brokers; always check if there’s a regulatory warning against the firm.
Amplixx Awards – Company Achievements
As mentioned, the broker was established in 2021. However, the firm posted alleged achievements that go prior to this date. Here’s an overview of the awards Amplixx allegedly has.
If the company started operating in 2021, these awards are clearly fake, lowering the broker’s credibility.
Amplixx Range of Trading Instruments & Markets
Amplixx allows investing in:
- Currency pairs – EUR/USD, USD/GPB
- Commodities – gold, silver, oil
- Indices – NASDAQ, Dow Jones
- Shares – Amazon, Apple, Google
There are no cryptocurrencies.
Amplixx Trading Conditions
We have more issues here getting the right information. The broker advertises different perks on different pages of the website.
About Leverage And Spreads
On the main page, you can see spread up to 1:500, while the Account Types section offers as high as 1:400. Whatever the truth, it goes against regulatory limits. On the other hand, the spread is advertised to be 1.6 pips for EUR/USD pair, while the platform overview shows 3 pips for the pair.
Amplixx Deposit, Withdrawal Methods, And Fees
The company charges some hefty deposit and withdrawal fees, which is just a reason more to avoid the it.
What Payment Methods Does The Broker Accept?
Amplixx accepts:
- Debit/credit cards
- Wire transfer
- Neteller
- Skrill
- Perfect Money
For deposits, you’ll be charged 5% for card transfer and Neteller, 80 EUR or $100 for wire transfers, and 3.5% for Skrill and Perfect Money.
In addition, the broker keeps the right to charge withdrawal fees if you withdraw less than $1,000. In this case, you’ll pay a $30 fee.
There’s an inactivity fee on top, 80 EUR per month after 1 month and 1,000 EUR after 12 months.
Minimum Investment Amount
According to the main page, the initial deposit is $100. Account Types suggest that you need $250, and the Platform section indicates that there’s no minimum deposit. We will assume that the minimum is an industry standard of $250. Even if it were $100, it would still be too much for a scheme firm. There’s no reason whatsoever to risk as much with shady brokers.
Customer Support – Communication Channels
Brokers’ customer support uses different communication channels, including:
- Phone calls
- Messages
- Emails
- Social media
You’ll be offered various bonuses, perks, and incentives while depositing. Once you want a withdrawal, all these channels will be blocked.
Amplixx Bonuses – As A Method Of Fraud
Amplixx offers bonuses but with a straightforward clause. Customers must repay the bonus 10,000 times before being eligible for a withdrawal. Of course, nobody will bother to tell you this until you submit a payout request. Then, you’ll understand that the bonus was just a lure to hook you.
Scammed by Amplixx Broker? – Let Us Hear Your Story
If you were scammed by an Amplixx broker or a similar bogus firm, let us know. Our chargeback specialists will be more than happy to help you recover your funds.
But What Is A Chargeback?
A chargeback is a way for your bank to reverse any fraudulent card transactions and recover your money. Contact us via online chat for more details and let’s get back what’s rightfully yours.