Do you want to trade on Brokers Trade FX? Why brokersfxt.com is not a genuine broker! Read detailed Brokers Trade review to know about this platform.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Brokers Trade?
Brokers Trade also known as brokersfxt.com is an offshore brokerage company with a lot of promises for forex traders. What is more, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Interestingly, the broker claims 15 years regulation by the Financial Conduct Authority, FCA, UK. This, you will find out.
Deposit and Withdrawal
Brokers Trade Minimum Deposit:
Brokers Trade minimum deposit is not indicated on the website. The good thing about a licensed FX broker is that minimum deposit is made known to traders, and clients can start trading as low as $100 .
As for the payment methods, there are no payment options. Rightfully, you should not consider making any payment with this broker considering its fraudulent scheme.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
Brokers Trade leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Brokers Trade Platform:
Brokers Trade platform offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious. Many scammers have trading software to fool their victims that their money is being invested.
As for Brokers Trade leverage, nothing is said anywhere. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Why You Should Avoid brokersfxt.com Forex Broker
First and foremost, brokersfxt.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit. On our search, we could not find this broker on Financial Conduct Authority, UK register let alone licensed by FCA, UK. Anyway, see what UK, FCA has to say —-
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Brokers Trade Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Verdict:
Lastly, Brokers Trade located at brokersfxt.com claims to be a trustworthy trading broker, however, that cannot be ascertained. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
In case you found this information valuable, please share with us your experience on the comment section below.
Read earlier reviews on Piper-fx , Forextimeprime brokers
