Registered in the Marshall Islands, the Homefx-Plus platform offers Forex trading services. Nevertheless, the broker has lost its official registration and currently does not have the status of a legal entity. So, let us review whether this broker is a scam or if it may really be trusted.
- Homefx-Plus General Information
- Registration and Client Portal Review
- Homefx-Plus Trading Conditions
- Account Types Review
- Trading Platform
- Homefx-Plus – Deposit and Withdrawal of Funds
- Education & MAM
- Is Homefx-Plus a Scam?
- Legal Information and License
- Homefx-Plus.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Homefx-Plus General Information
|Phone Number||+44 2030976214, +34 910035186|
|Address||Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96961|
|Assets||Currency pairs, CFDs on metals, cryptocurrencies, and stocks|
Registration and Client Portal Review
To begin with, the service is made qualitatively, without flaws in animations, design, etc., and adapted to mobile devices. On the other hand, it is not quite informative: some vital information is simply not available there.
The registration process is simple. It is enough to specify:
- Full name
- Trading currency
- Promo code (if available)
Nevertheless, despite the only 4-step registration process, it was still impossible to create an account, and it was all the developers’ technical error. So, when trying to register, the system just does not allow a user to go to the next step without entering a promo code, which should be optional. However, one cannot go through the registration process without it.
It is also worth noting that the registration of accounts in Homefx-Plus is not available to residents of the United States. And as a “test drive” of the platform, the company offers its newcomers a demo account where all the features are considered.
Homefx-Plus Trading Conditions
The trading conditions at Homefx-Plus assume a high leverage of up to 1:400 for each of the instruments available for trading.
Account Types Review
Account types here vary in price per month – from $1,000 to $10,000 – depending on the features provided. At the same time, the trading conditions practically do not differ from each other – the types of accounts rather affect the set of privileges and the quality of service at various levels.
At the same time, the funding regulations contain quite different information about the minimum deposit. So, for credit cards, it is equal to 250 dollars, euros or pounds.
In the process of trading, the company uses the WebTrader platform with various settings to apply different strategies using its capabilities. This ready-made trading solution also requires installing the corresponding application on Android or iOS. However, the links are dead-end and lead nowhere. So we don’t think there are any mobile apps.
Homefx-Plus – Deposit and Withdrawal of Funds
As a method of depositing and withdrawing funds from Homefx-Plus, the platform offers wire transfers, bank cards, and Skrill.
Regarding the method, there are diverse transactional fees: e.g., for bank (debit and credit) cards it is 3.5%; and for wire transfers, it is fixed – $30. Fees are not specified for electronic means of payment.
To register a real account on the platform, one has to fill in the following data:
- Passport details
- Bank account details
Nevertheless, the deadlines for confirming the information are indistinct and hardly draw to one business day.
Education & MAM
For its users, the company made educational content on assets and Forex trading. However, some of the materials are blocked or even inaccessible – especially for unregistered users – and simply do not open on the website.
One more feature advertised by the company is the so-called MAM account. According to the administration of Homefx-Plus, it allows regulating the activities of several customers at once from just one main account. On the other hand, it is still not clear whether there is such an actual possibility, since, as mentioned above, it is impossible to register any account here at all.
Is Homefx-Plus a Scam?
Judging by the lack of essential information on the site and questionable conditions with suggested account types, the company is bound to be a scam. Let us delve into the details.
Legal Information and License
According to the broker’s information, Homefx-Plus belongs to and is managed by the Astrica LTD organization that is registered in the Marshall Islands. And even though the company’s name is listed in the state’s international registries database (https://resources.register-iri.com/), its license has been annulled for some reason. It means that Homefx-Plus and Astrica LTD are not officially registered at the moment anywhere.
On the other hand, the administration claims that the funds and assets of clients are stored outside the Homefx-Plus ecosystem, but in depositories and the accounts of partner banks. However, the names of these banks are not specified at all.
Homefx-Plus.com Domain Info
Although the registration of the site date corresponds to the broker establishment, the service working period is extremely short – only about a year.
The support service here works 9 hours – from 9am to 5pm – and 5 days a week – from Monday to Friday. If users have any problems or questions, they will be able to contact it by phone at +44 2080978278 or +34 910035186, and by email at email@example.com.
Pros and Cons
- Free pieces of training.
- A wide selection of assets for trading.
- Lack of legislation and registration.
- Short runtime.
- Impossibility to register without a promo code.
- Lack of information about customer funds storage locations.
- Not round-the-clock support.
Frequently Asked Questions (FAQ)
Homefx-Plus is an unlicensed broker that offers options for trading with a diverse range of currencies and CFDs.
According to the website, the minimum deposit here is $250 for bank cards and electronic payments, or $500 for wire transfers.
Following our review results, Homefx-Plus is not a reliable organization for Forex and other kinds of trading – mostly because of a lack of official registration and regulation.