Let’s see what is there to know about the FTSFX broker. We can see that it is deceitful. If you look at the firm’s web page, you will see several regulations. They claim to have CFDs, a big number of payment options, and immense trading software. This FTSFX review is here to help you find out more!
FTSFX Regulation and Fund Security
What you can see here are several scammy patterns. FTSFX broker scam claims to have headquarters in Hong Kong. In addition, they claim to have a license from many regulators. Those are the FCA, CySEC, and the FSC. This broker is also apparently enlisted with the FSA of St. Vincent and the Grenadines. All of this is entirely false.
The FCA and CySEC are the most respected authorities in the economic sphere. Companies authorized by them are often very reliable. Nevertheless, there is no data on this firm in their databases. This means that the broker has told an untruth about being authorized.
The FSC of Mauritius is an offshore regulator that is far less rigid in its conditions. Yet, FTSFX was not authorized by that administration either. Ultimately, the FSA of St. Vincent and the Grenadines is an administration that only handles the banking sector. It does not do business with forex brokers. So, any broker who swears to fall under its authority is a fraud.
As if this is not enough evidence that the FTSFX broker is an investment scam. Keep in mind that this broker has lately drawn the attention of the Securities and Futures Commission of Hong Kong. This trustworthy regulatory body feels that FTSFX is trying to copy a licensed broker to whom it does not have any connection. It has also delivered an insufficient address.
Brokers regulated in the US, UK, the EU, and Australia are often exceedingly reliable. Such brokers are bound to report to some of the strictest economic administrations in the world. They are obligated to fulfill many conditions before acquiring a license.
Trading Platform Used by FTSFX
FTSFX broker won’t let you finalize the signup process. This is another red flag. The web page will stop responding, and that is where it all ends. Because of this, you won’t be able to see the type of trading software this broker offers – or if there is any type of trading software at all.
It is highly advisable that you trade with a broker who can offer a trustworthy, efficient trading venue like MetaTrader 5. This is nowadays the most prevalent software in the world of trading. Of course, there is a good rationale for that. MT5 is favorably efficient and UI-friendly. MT5 offers a broad collection of charting tools and many extra features.
Note: What takes place if you somehow get scammed? You have a right to call for a chargeback. Yet, this likelihood is only feasible if you have utilized a credit or debit card for the transactions. Visa and MasterCard let this be done within 540 days. Understand that bank wire transfers or crypto transactions are non-refundable.
FTSFX Account Types Available
As it’s not possible to access the platform, nobody can confirm what account types are there. The same goes for the FTSFX demo account. The corporation has never spoken of one, and the signup cannot be finalized.
Accordingly, you cannot know for sure whether the platform exists and whether the display of trading instruments is valid. This is another motive to stay away from the FTSFX broker scam.
FTSFX Deposit and Withdrawal Process
Deposit and withdrawal options are especially tricky. Visa, MasterCard, Neteller, Skrill, Perfect Money, and CASHU are all recorded as feasible payment options. However, as it is not possible to finish the signup, we are left with uncertainty.
Frequently, counterfeit brokers make withdrawing money a mission impossible. They establish tremendous fees and insane trading volume conditions. Also, a huge number of fraudulent brokers like to set crypto as the only payment option.
Note: If you see any broker implicated in deceitful trading activities, make sure that you report it. This will smash the nasty plans of a scammer and perhaps prevent some further scams.
How Does the Scam Implement?
Trading carries substantial risk. That is a reality! You should be mindful of this before you determine to open an account with any forex broker. Even skilled investors who utilize the services of trustworthy brokers know this.
For newbies, there is also the likelihood of being deceived by the many fraud firms posing as brokers. These will draw you with warranties of easy profits and mind-blowing mentorship. Always be attentive to easy earnings and stay with authorized brokers only.
Usually, these scammers guarantee great profits for a slight investment. After you find the platform, they will tell you that you are already making great profits. So, they will exhort you to invest even more.
You will never see even a dollar from these sworn returns. It will become inconceivable to get to the minimum withdrawal amount. As they hide behind phony names and addresses, you won’t be able to hold them responsible.
The Best Forex Brokers
Let’s dive into the list of the most reliable forex brokers in 2023. Stay tuned!
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
We truly enjoyed writing this comprehensive FTSFX review. We do hope that you could learn something new from it. It’s evident by now that this broker is another trading scam.
Try to stick with legitimate companies only, as this will save your funds. Also, it will save you many headaches.
FAQs About FTSFX Broker
Is FTSFX Legitimate?
FTSFX broker is a suspected scam. It is not a regulated broker, so stay away from it.
What Are the Funding Methods at FTSFX?
Funding methods are uncertain. After all, you are not able to check and see anything.
Is my Money Safe with FTSFX?
Your money is not safe with an FTSFX broker. They are a dishonest scam broker.