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Updated on April 29, 2024

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Pros

Cons

  • Conclusion


Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding TradeFTM due to the issues we've identified.


Is TradeFTM Scam or Legit Broker? ▲

Upon close examination and rigorous analysis, it has been determined that TradeFTM does not present itself as a trustworthy brokerage. Our investigations have raised significant concerns, leading to the conclusion that TradeFTM is involved in questionable practices. The entity lacks any form of financial licensing, yet misleadingly suggests otherwise. Such discrepancies point towards a high risk of fraudulence. Alarmingly, it appears TradeFTM may be operating its services from a location entirely different from what is claimed, further amplifying suspicions regarding its legitimacy.


What is TradeFTM? ▲

TradeFTM operates under the trading name of FX TRADING LTD, which claims registration with the HOC (Companies House UK) for its investment activities. Despite being listed in the HOC registry under the company number DJ812687 and boasting a registered office at 180, Whitton Rd, Hounslow TW3 2ES, UK, a glaring discrepancy arises with its lack of registration with the Financial Conduct Authority (FCA). This absence of authorization signifies that TradeFTM is prohibited from offering its services within the UK. The revelation underscores the inherent risks associated with unregulated brokers, highlighting the safety net provided by regulated entities, particularly those overseen by reputable authorities such as the FCA or the Australian Securities and Investment Commission (ASIC), which ensure fund segregation and compensation schemes.


Overall TradeFTM Forex Ranking ▲

Our in-depth analysis and comparison of TradeFTM against a comprehensive pool of over 1000 brokers have led to a disheartening conclusion. Due to the significant concerns surrounding its safety and regulatory standing, TradeFTM receives a dismal overall ranking. Our expert opinion, derived from over two decades of experience in Forex trading, assigns TradeFTM an overall score of 0.4 out of 5. This ranking places TradeFTM at a considerable disadvantage when juxtaposed with other well-established and leading brokers within the industry.


Deposits and Withdrawals ▲

Given the concerns raised regarding TradeFTM's regulatory and safety standing, detailed scrutiny of its deposit and withdrawal mechanisms is imperative. However, it is strongly advised to proceed with caution or, better yet, seek alternative brokers who offer transparent, secure, and regulated transaction methods.


Pros ▲

  • Claims of registration with HOC.

  • Provides a UKbased registered office address.


Cons ▲

  • Lacks a financial license from a reputable regulatory authority.

  • Misleading claims about regulatory status.

  • Operates potentially from an undisclosed location.

  • High risk of fraudulent activities.

  • Absence of assurance in fund safety and compensation schemes.


Conclusion ▲

The culmination of our exhaustive evaluation of TradeFTM paints a stark picture. Given the myriad of red flags, including its dubious regulatory claims, lack of financial licensing, and the potential for operating from a concealed location, our final assessment strongly advises against engaging with TradeFTM. Our findings underscore the paramount importance of trading with brokers regulated by esteemed authorities, which ensure the safety of investments and provide a structured compensation framework. In light of the issues identified, potential traders and investors are emphatically urged to consider safer, more transparent alternatives to safeguard their financial interests.


When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.

TradeFTM

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare TradeFTM with its peers

TradeFTM

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare TradeFTM with its peers

TradeFTM
Blank Image

In a Snapshot

Name: TradeFTM

Website: www.tradeftm.com

Reason to avoid: No license

Date: August 13, 2018

⚠️Caution: TradeFTM operates as an unregulated broker, making it UNSAFE for trading activities.⚠️

TradeFTM Review 2024

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