Since the website of TradeFCM broker is operative for the last five years, we can say this is a veteran among brokers on the financial market. With such a long history should go a good reputation. And a regulation. However, is it a regulated brokerage? What seems to be an issue with the company?
Read our profound TradeFCM review and find out.
|Broker status:||Unregulated Euporean Broker|
|Regulated by:||Unlicensed Brokerage (Illegal)|
|Supported Platforms:||WebTrader, MT4, MT5|
|Cryptocurrencies:||Yes – BTC, LTH, ETH, XRP|
|Types of Assets:||Forex (FX), CFDs, Commodities, Indices, Shares, Cryptocurrencies, Futures|
|Free Demo Account:||No|
|Accepts US clients:||No|
TradeFCM Regulation and Security
For a broker with such a long existence, there is very little information on the company. Nowhere could we find an owner of TradeFCM. As per the website tradefcm.com, the broker is based in Glasgow, UK. However, to be a UK broker, you need to have an FCA regulation. So, that’s the first thing we’ve checked about TradeFCM brokerage.
What’s Wrong With Broker Regulation?
After careful examination of the Federal Conduct Authority register, we were unable to find TradeFCM regulation. It means that the company is most likely not even based in the UK, just misleading clients to believe so.
Available Trading Platforms
Since there is no Demo account, it was difficult to verify the TradeFCM trading platform. If we decide to believe their website, the broker offers all kinds of platforms, including MT4, MT5, and a web trader. If that really is the case, we have to congratulate the broker for a choice. Since the MT4 is one of the most secure trading platforms, we applaud the decision to offer its clients a tremendous trading experience.
However, after seeing the leverage broker offers, up to 1:1000, it becomes crystal clear that the company is not legit. As per the FCA, brokers can provide leverage up to 1:50. There is no regulatory body that would allow such high leverage and expose your funds to such a huge risk.
What Can You Trade With This Broker?
Another good thing about TradeFCM company is a variety of trading assets. There are currency pairs, commodities, indices, shares, cryptocurrencies, and futures at clients’ disposal. If the broker were regulated, we would consider it a perfect choice for any trader.
If we were to speak about broker minimum deposit, this is something we highly do not support. The broker is requesting clients to deposit a minimum of $1,000. It is an enormous amount of money for an unregulated brokerage. Even if it had a regulation, the industry standard is $250.
Therefore, the offer of TradeFCM cannot be considered attractive. You do not get anything more for the higher price you need to pay.
What to do if you fall victim to the TradeFCM scam?
If you have been misled or scammed by TradeFCM, you need to take a few steps immediately. First, you need to file a complaint and request a chargeback. Sadly, you are not the only victim of the TradeFCM scam.
Contact our support via chat and schedule your free consultations. You will learn what it takes to file a successful dispute!
Don’t Let the Scammers Go Away for Free!
Is TradeFCM regulated?
TradeFCM is not a regulated broker. Beware of fraud!
Who is the owner of TradeFCM broker?
Broker does not reveal a company owner anywhere on the website.
Are My Funds Safe with TradeFCM?
Since the broker is anonymous and not regulated, your funds are not safe with TradeFCM.