Is FTrade a Scam?
We have made a research of FTrade and found out that they do not rate highly and there is no significant data about them. As an alternative we have selected our Top Safe Forex Brokers along with detailed reviews for safe and secure trading.
Since we haven’t gathered enough information yet, we cannot confirm that FTrade is safe. You can Proceed to Safety OR Choose one of the Is-Scam approved and safe Forex Brokers:
FTrade is a fairly new Forex broker that was established in 2014. They are owned by Binext Global Ltd and located at 201 Rogers Office Building, Edwin Wallace Rev Drive, George Hill, Anguilla. They use the SpotOptions trading platform, which does not require any downloads or additional software; it is web-based and customers can trade from their home computers, laptops, tablets, or smart phones.
The platform is available in three languages, English, Russian and Arabic. They have 58 different assets, but it isn’t the greatest variety in the industry. Clients can choose from 60 Second options, traditional Forex, One Touch, Ladder Options, and Long Term Options. Trading on 60 Seconds starts at $5. Their Customer Solutions department is open when the markets are open, Monday – Friday from 7 am – 4 pm GMT. You can reach them by live chat, email or telephone.
The minimum deposit with Ftrade is $200 depending on what currency you wish to trade on. This is slightly less than what most of the brokers offer but it’s good in case you don’t have a lot of funds to put in your account. They offer up to 83% profit on a winning trade which also isn’t the highest in the industry. FTrade offers up to 100% welcome bonus. Corporate accounts are also available.
FTrade accepts major credit cards, wire transfers and CashU. The credit card used for transaction with FTrade must match the name on the account. FTrade accepts Visa and MasterCard. The minimum deposit for a wire transfer is $500. The wire transfer must be to the exact details which are posted on the deposit website under wire transfer. You must email a copy of the wire transfer to [email protected] It can take up to five business days for the wire to appear in your FTrade account. CashU is a new anonymous way to invest with FTrade. This payment method is popular in the Middle East and Western Europe. Simply go to CashU website for how to invest using CashU with FTrade.
As the company grows, more payment options will be available. Unfortunately demo or practice accounts are not available. New clients should speak to their account managers, if they are interested in risk-free insured trading and welcome bonuses.
FTrade’s finance department handles all withdrawal requests submitted. There is no fee to withdraw funds. Once a withdrawal request is submitted it can take FTrade up to three business days to process the request. Once the request has been approved allow an additional five-seven days for the funds to show in your account. All funds invested by a credit card can be withdrawn to the same card only. The maximum withdrawal amount to a credit card cannot exceed the amount invested. Any additional funds can be withdrawn via wire transfer.
A wire transfer withdrawal can be done for profits or those account which made their initial deposit using the wire transfer method. There is no fee for a CashU withdrawal. The withdrawal can only be done to the same CashU card.
We carefully research each and every Forex broker in order to determine if they are a legitimate Forex broker or just another online scam. We look to see if a regulator like the CySEC in Cyprus gave them a license. We also look to see if they are included in the MIFId regulatory rules in the European Union. FTrade is not currently licensed by CySEC.
There are many complaints about Forex brokers. The broker complaints stem from a variety of reasons. Some are legitimate complaints and others are not. There have been reports of particular problems concerning their service and our team will keep monitoring if any special developments take place. It is highly recommended that everyone pays special attention to the broker’s terms and conditions and any offers that seem too good to be true. Also, traders should be very careful when approaching FTrade until they get proper regulation.
F Trade offers various bonus benefits to traders of different levels. The broker’s basic trading level includes learning center membership, full access to the broker’s video library, personal charts training and a dedicated account manager. FTrade’s standard trading level includes additional training and cash flow management.
Traders also receive professional training analysis and daily trading signals. No evidence points towards a scam but nevertheless, we are a little concerned by the fact that this broker is not regulated, so we recommend that a more detailed research must be conducted by trader before investing with F Trade.
ConclusionAfter detailed investigation our team concluded that there are better choices than FTrade. We cannot confirm that this Forex broker is a scam, but our research revealed enough traders’ complaints to not make us feel safe trading with FTrade.
We recommend you to Proceed to Safety and avoid scams by choosing High-Rated and Trusted Brokers on Is-Scam.com.