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EnclaveFX Broker Evaluation:High Risk(Suspected Fraud)

TraderKnows
TraderKnows
05-13

EnclaveFX, UK forex platform since 2018. This article reviews EnclaveFX’s entity, domain, licenses, staff, software, and trade types.

EnclaveFX Overview:

The official website of EnclaveFX claims that it was established in the United Kingdom in 2018. The company entity is EnclaveFX Ltd, and the enterprise number is 13596354. According to the information provided, information found on the official website of Companies House in the United Kingdom shows that the company was established in 2021, and the corporate director is from India. SHAH, Pratikkumar.

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Domain Registration of EnclaveFX:

According to the information queried by Whois, the broker’s official website domain name was registered on January 11, 2020, and the domain name registration date was less than three years ago.

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Is EnclaveFX legit or a scam? Does EnclaveFX have any regulatory licenses?

  1. EnclaveFX claims on its official website to be regulated by the UK Financial Conduct Authority (FCA) with a registration number of 1622312. However, a search on the official website of the UK Financial Conduct Authority (FCA) does not find any information about the regulatory status of this broker. Therefore, it appears that EnclaveFX is not regulated by the UK Financial Conduct Authority.
  2. EnclaveFX also claims to be registered in Australia as ENCLAVE PRIME PTY LTD and regulated by the Australian Securities and Investments Commission (ASIC) with a license number of 435746. However, information obtained from the ASIC official website shows that the license corresponds to the business name HLK GROUP PTY LTD. EnclaveFX has only purchased an Authorized Representative license (AR license) from HLK GROUP PTY LTD, indicating weaker regulatory and investor protection efforts.
  3. It is important to note that HLK GROUP PTY LTD has sold Authorized Representative licenses (AR licenses) to more than 20 similar companies. These companies have no direct relationship with HLK GROUP PTY LTD and are merely using the Authorized Representative licenses (AR licenses) purchased from HLK GROUP PTY LTD for promotional purposes, which suggests potential risks of fraud.
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Employees of EnclaveFX:

EnclaveFX does not disclose information about its corporate employees.

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Trading Software Provided by EnclaveFX:

EnclaveFX provides investors with the Metatrader 5 (MT5) trading platform, which is widely recognized and popular in the financial industry. MT5 is known for its advanced trading features and diverse analysis tools. With MT5, investors can obtain market data in real time and use various technical indicators and charting functions to conduct in-depth analysis of market trends. The trading platform is compatible with a variety of devices, including personal computers (Windows/MacOS), web platforms, and mobile devices (iOS/Android), allowing investors to conveniently conduct transactions anytime and anywhere.

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Online Reputation and Client Complaints:

The online reputation of EnclaveFX presents some key insights, showing a clear division in opinions about this platform. Some platforms have mentioned negative experiences and warnings associated with EnclaveFX. For instance, there have been user reports of encountering issues while trading with EnclaveFX, such as the need to pay additional fees to complete the withdrawal process, which could be indicative of fraudulent activities. Additionally, some comments have highlighted that EnclaveFX does not appear to be regulated by any top-tier regulatory bodies, a factor often considered important when choosing an online broker.

Given this information, it is advised to carefully consider and conduct thorough research before deciding to trade with EnclaveFX. Ensure to gather information from multiple reliable sources and exercise caution before investing, especially when dealing with online brokerage platforms not regulated by top-tier authorities.

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Trading Products Provided by EnclaveFX:

EnclaveFX offers users a variety of financial products, including:

  1. Forex Trading: Offers the opportunity to trade various currency pairs on the Forex market. Forex CFDs allow investors to trade based on the price movement of one currency against another. Examples of currency pairs that can be traded include EUR/USD, GBP/USD, and USD/JPY, among others.
  2. Precious metals trading: Provides CFDs on precious metals such as gold and silver, allowing investors to participate in price changes. Precious metals CFDs allow investors to trade without actually holding the physical objects, thereby seeking potential profits from price fluctuations.
  3. Index Trading: Index CFDs allow investors to trade based on the price performance of a market index without having to buy or sell the actual index component stocks or assets.

These products not only provide investors with access to different financial markets, but also enable them to manage risk through different investment portfolios.

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Contact Information:

Investors can contact EnclaveFX through:

  1. phone
  2. e-mail

Conclusion:

EnclaveFX claims to be established in the UK in 2018, but the actual establishment date is 2021. The registered entity is EnclaveFX Ltd, enterprise number 13596354. Although it claims to be registered in Australia and regulated by ASIC, the actual company corresponding to the certificate is HLK GROUP PTY LTD. EnclaveFX only purchased an authorized representative license, and the supervision and protection are relatively weak. The company has not disclosed company employee information, and the domain name has been registered for less than three years. Metatrader 5 (MT5) trading platform is provided, but the information claiming to be regulated by the British Financial Conduct Authority (FCA) is not found on the official website. Therefore, EnclaveFX is marked as "suspected fraud" on Taderknows. Investors should carefully consider its ambiguous registration and regulatory status and related suspicions of fraud.

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Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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