Moxium Review: Stay Away from This Fraudulent Broker

Moxium presented us with an excellent website, and a decent trading platform, so we were off to a good start. However, problems started to appear as soon as we took a closer look.

This is an anonymous, unregulated broker that offers no legal documentation and asks you to invest a huge amount of money right off the bat. If you deposit with them, you would be at high risk of getting scammed.

It is a complete mystery who is behind Moxium. The website gives no information about the owner company such as what it is called and where it is based. The only means of contact is email.

So, in this Moxium broker review, we will look in detail at the clues that this broker is not a legitimate financial services provider and just a complete investment scam.

License and Regulations of Moxium

Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licenses it has and which regulators oversee its activities.

Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

It’s safe to say that Moxium broker had no license and no regulation and it’s just another offshore broker that is trying to scam you by pretending to be a legit company.

Trading Platform Available at Moxium

Moxium has a rather basic web-based platform, as we have seen used by many other fake brokers we have reviewed.

While the platform has the basic features for placing orders, customizing charts and application of technical indicators, it lacks the more advanced functionality found in the most widely used trading platforms in the industry, MetaTrader4 and MetaTrader5.

It should be noted that the presence of some kind of trading software is no guarantee that this is a genuine broker. Financial scammers often use trading platforms to fool their victims that their money is actually being invested.

However, this trading is entirely fictitious and the money goes directly into the scammers’ pockets.

Moxium Account Types

In regards to the trading accounts, Moxium offers the following ones:

• Basic $10,000
• Silver $25,000
• Gold $50,000
• Platinum $100,000
• Diamond $200,000

The website has a description of the different types of accounts, but it does not provide information about most of the trading parameters, especially the price paid by the trader.

In the trading platform we see a very low spread of 0.1 pip. Such a “raw” spread normally comes with a fixed commission per lot traded, but Moxium does not provide information on the commissions it charges.

Leverage between 1:50 and 1:500 was specified, indicating that Moxium could not be a regulated broker.

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. A maximum leverage of 1:30 is allowed in the European Union and the United Kingdom and 1:50 in the United States.

Deposit and Withdrawal Methods

We were only able to find in Moxium FAQ’s that they offer the following deposit methods:

• Visa or Master credit or debit card
• Wire transfers 
• E-wallets

But at the time of writing this review, there were no active options on the Moxium deposit menu. Scammers of this type routinely steer their victims to cryptocurrency transactions or other opaque methods, preventing the defrauded from claiming a refund.

Since Moxium does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfill traded volume conditions.

Offshore Brokers Fraudulent Tactics

Such scams are not only becoming more frequent but they are also surprisingly effective and that’s why it is extremely important to know exactly how they work.  

Once you stumble upon a broker on the internet that promises to make you rich in no time you may be curious to see what forex brokers are all about. In case you do decide to leave your phone number and email be sure that you will not be left alone before you have deposited. This will not be enough though the agent calling will keep asking for more and more money in order to make more profit.  

And when you try to withdraw the problems will start. They will deny withdrawals because of certain clauses in the Terms and Conditions, because of previously unmentioned fees and taxes, etc. Nonetheless, you should not get discouraged as getting your money back is still possible, just be sure to call local authorities.

Moxium Summary

In our Moxium review, we tried our best to warn you against this scam broker and the fraudulent activities performed on a daily basis. They allegedly provide their customers with an opportunity to invest in forex, CFDs and crypto. However, some of the most basic information about them is missing, indicating that you are dealing with fraud. 

Use this as a good rule, if the broker failed to mention even the most basic info like their address and company name, it’s all just a lousy scam lurking for innocent people that want to trade.

Although they do not have any official warnings issued to them, don’t get fooled thinking they actually possess any license. 

We easily found many complaints made against them, stating many withdrawal issues as well as high deposit amounts, so we concluded that you should just stay away from them.

Think twice before taking any risks while investing money and keep in mind that this investment scam will demand at least $10,000 which is just outrageous.

FAQs About Moxium Broker