Uncertain about FutrStocks.com platform? Is the broker genuine? Let’s read FutrStocks reviews to know about this forex broker.
This content 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 FutrStocks?
FutrStocks FX otherwise known as FutrStocks.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
What’s more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
Is FutrStocks Regulation Claim Genuine?
First of, FutrStocks presents its office address in Monaco and claims to offer its services in Europe.
Regrettably, no company name is given anywhere on the website. The text of the Terms and Conditions also does not specify a legal entity name or applicable jurisdiction.
The broker is quick to showcase certificate of incorporation by a Vanuatu Financial Services Commission.
The document is in the name of Credit Financier Invest Limited. This offshore company is listed as the owner of other shady brokers we have reviewed – Extradex , Btpstocks
Furthering, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These drawbacks are for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
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
Does FutrStocks Have Account Types?
FutrStocks offers variety of trading account for clients like Beginner, Experience and Professional. According to the account description, the broker offers leverage capped 1:100 and spread of 0.9 pips.
FutrStocks deposit is indicated $150 according to the account type. This may appear affordable but with an illegitimate broker, it is a risk.
In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the broker funding methods, FutrStocks only allows deposits via the cryptocurrencies. There are a few reasons why scam brokers prefer to receive payments in crypto. One, transactions are irreversible and untraceable.
FutrStocks withdrawal 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.
Another important thing, 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!
FutrStocks Trading Software
FutrStocks offers web trading software. The platform comes with some basic tools and custom indicators but nothing more advanced. We were only offered a chart tracking various markets which is a far cry from an actual trading platform.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Argument Against FutrStocks Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that FutrStocks.com 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
Verdicts:
FutrStocks located at FutrStocks.com appears like a genuine trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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