Vietnam Becomes New Base for Cross Border Scam Syndicates After Cambodia Crackdown
Cross border scam syndicates are constantly adapting to evade law enforcement by moving from Cambodia to Vietnam.
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Abstract:Were you denied from withdrawing funds despite a successful KYC verification by FX LIVE CAPITAL, a Saint Lucia-based forex broker? Did the brokerage firm disable your trading account in the name of false latency trading? Did you even fail to recover your initial deposit amount? This article is for you! Many traders have accused the broker of these activities on review platforms such as WikiFX. While preparing the FX LIVE CAPITAL review article, we examined user allegations while sharing a regulatory overview of the company.

Were you denied from withdrawing funds despite a successful KYC verification by FX LIVE CAPITAL, a Saint Lucia-based forex broker? Did the brokerage firm disable your trading account in the name of false latency trading? Did you even fail to recover your initial deposit amount? This article is for you! Many traders have accused the broker of these activities on review platforms such as WikiFX. While preparing the FX LIVE CAPITAL review article, we examined user allegations while sharing a regulatory overview of the company.
The official website claims that the company has onboarded over 350K traders across 160 countries and have a global office count of over five in its more than five years of operation. Now, lets come to the FX LIVE CAPITAL trading account type. At this trading firm, you can open any of ECN, Swap-free and Zero Commission accounts.
For the unversed, an ECN Professional account is a popular offering for forex traders that connects them directly with the interbank market and multiple liquidity providers, eliminating the conventional broker middlemen. Here, the broker does not act as a counterparty to the trade.
A swap-free account, otherwise called an Islamic trading account, that does not charge or credit interest overnight. With this, traders can keep their positions without any worry of rollover fees being deducted from their accounts.
Zero commission accounts are defined by the name itself. They dont incur any commission payable on buying and selling securities.
But, what is the minimum FX LIVE CAPITAL deposit amount required for each trading account? How much is spread and leverage? For all these, check the table below.
| Account Type | Minimum Deposit Required | Minimum Spread | Maximum Leverage | Minimum Lot Size |
| ECN Professional | USD 100 | 0 pips | 1:500 | 0.01 |
| Swap-Free | USD 100 | 0.8 pips | 1:500 | 0.01 |
| Zero Commission | USD 50 | 0.8 pips | 1:300 | 0.01 |
The operational presence demonstrated by the brokerage firm on its official website is likely to prompt many into trading on its platform. Even the account details sound impressive, with the minimum deposit required being affordable for all types of traders - beginners to experienced. The minimum spread is also reasonable across the company’s trading accounts, while the minimum lot purchase requirement of 0.01 is also good. Where traders could possibly suffer is using a highly leveraged account using offers of up to 1:500, in a volatile market scenario.
A Slovenia-based trader filed a complaint against FX LIVE CAPITAL, claiming that the company withheld his profits worth $8,500, citing jurisdictional issues concerning the country of his residence. This happened despite the successful KYC verification three months before the withdrawal application. The trader opened up by saying that when he lost $100 and a $45 challenge, the prop trading firm did not raise any issues. Finally, when the trader generated profits of $8,500 and demanded a withdrawal worth $8,000, the broker allegedly denied and gave only the initial deposit amount, i.e., $775. The broker even disabled the trading account, according to this FX LIVE CAPITAL review.

Another Slovenia-based trader explained having faced no issues when setting up the demo account and a live account. The user reportedly did not make any withdrawals during this time. However, as the client deposited a larger sum of bitcoin, he allegedly lost access to his funds on the FX LIVE CAPITAL login. This happened because of the alleged change in the wallet address by the company. It took around 13 days for the deposit to reflect in the wallet.
After the initial bad experience, the trader viewed the platform as fishy and made a small withdrawal of $10 and half of the deposit amount. They were processed successfully, the user added. However, as the trader attempted to withdraw another half, the processing halted for eight days without any clear solution in sight.
Read this complaint to know more about the reported mess.

A trader from the US accused FX LIVE CAPITAL of charging a hidden fee of $1,500 on withdrawals. Explaining the situation further, the trader claimed that the broker asked for constant fake KYC verification. According to the user, it was effectively a ploy by the trading enterprise to add fees on every withdrawal attempted by him. The trader labeled the broker as a fraudulent operation while sharing this FX LIVE CAPITAL review.

Some Japanese traders have accused the broker of disabling their trading accounts when seeking withdrawals. One trader noted that the broker disabled the account after suspecting the former of high-frequency trading activity. This not only led to an alleged confiscation of profits but also the initial deposit amount.
The trader reportedly received an email from the FX LIVE CAPITAl Compliance team explaining the violation of trading terms and conditions resulting in profit withholding. The email further stated that the company would refund the trader his initial deposit amount. However, the trader claimed not to have even received the same. The user emailed the compliance team to know more about the situation in detail. However, the trader failed to receive this from the company either.
Have a look at the two account disablement claims below.


FX LIVE CAPITAL, until now, does not hold any forex trading license. However, it has one license from the Financial Services Commission (FSC) in Mauritius for another trading instrument. With continuing deposit and withdrawal complaints, the WikiFX team handed the broker a trust score of just 2.15 out of 10. We cannot recommend this broker in the wake of disturbing user complaints concerning deposits and withdrawals. Also, the FSC regulation is an offshore one, greatly reducing the benefits for traders in the case of situations like a potential broker bankruptcy. The broker will then not be legally bound to pay you. Always read in-depth broker investigation reports on WikiFX, a credible broker regulation inquiry tool, before trusting a firm for trading purposes.
Download the WikiFX app now to begin investigating forex brokers today.

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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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