Broker Review

Unauthorised firm details

Name: Reconfxhub.live
Website: reconfxhub.live

Reconfxhub.live positions itself as a global online trading platform, offering access to over 150 financial instruments, including forex, CFDs, commodities, and cryptocurrencies. The platform promotes features such as high leverage (up to 1:1000), low spreads, and a minimum deposit requirement of $100. It also claims to provide multilingual support and trading advisory services, emphasizing its use of the MetaTrader 5 (MT5) platform for trading.

Despite its professional presentation, Reconfxhub.live has attracted significant scrutiny from regulatory bodies and users alike. Further investigation reveals that the domain was registered in November 2024 and is associated with masked registration details, raising red flags about its legitimacy

Red Flags of Reconfxhub.live

1. Lack of Regulation

   • The platform is not authorized or regulated by major financial authorities like the FCA, SEC, or ASIC.

   • FCA explicitly warned the public against it, labeling it potentially unauthorized and risky.

2. Anonymous Ownership

   • The domain registration details are hidden or masked.

   • No clear information about the company owners or management team.

3. Very High Leverage

   • Offers extremely high leverage up to 1:1000, which is uncommon and often used by risky brokers.

   • High leverage increases risk of losing funds quickly.

4. Negative User Reviews

   • Numerous complaints about withdrawal issues and unresponsive customer support.

   • Reports of users losing significant amounts of money.

   • Poor ratings on platforms like Trustpilot and Reviews.io.

5. New and Unknown Platform

   • Domain registered only recently (November 2024), which means it lacks a long-term track record.

   • New platforms with no reputation history are risky to trust.

6. Pressure to Deposit More Money

   • Some users report aggressive marketing and pressure to increase deposits.

   • Common tactic among scam brokers to get more funds from investors.

7. Suspicious Website Features

   • Website content appears generic and copied from other sites.

   • Promises of guaranteed profits or easy money, which is unrealistic.
     ConclusionIf you’re thinking about investing or trading, these red flags suggest it’s best to stay away from Reconfxhub.live to protect your money.