Future Bots Trade Review, We’ll check two separate factors here and then connect them to get a clear sign of a scamming broker.
The first one is the claim found on Future Bots Trade’s website where it is stated that they’re owned by GAIN Capital Group along with a US address.
The interesting thing here is that the license found on their website was addressed to the company called INTERCONFXBOT.
The second one is leverage, and this fraudulent broker offers leverage of up to 1:1000 to their clients.
When we connect these factors, we conclude that it’s impossible for Future Bots Trade to be based in the US as the cap put on leverage in the country by the CFTC and NFA is 1:50.
Future Bots Trade License and Regulation
Future Bots Trade doesn’t hold any license nor is regulated as the leverage they offer (1:1000) is way over the legally allowed leverage in the US (1:50).
Lack of legal documentation is another proof, as all regulated traders are obliged to keep all the documents transparent. As an unregulated and anonymous forex broker, Future Bots Trade is seen as a danger to unsuspecting victims. Further along, we’ll touch on why it’s crucial to choose a regulated broker when trading.
How Does Offshore Brokers’ Scam Implement?
Similarly to other scam brokers, Future Bots Trade attracts people by offering them tempting benefits that definitely sound too good to be true.
There are many ways this illicit broker reaches out to people, either directly via social media/phone calls or through advertisements. Just like the others, Future Bots Trade scams people by introducing 20+% withdrawal fees as well as incredible bonuses with unachievable requirements.
High withdrawal fees are meant to prevent victims withdraw their assets, while high bonuses are meant to encourage depositing more.
Future Bots Trade Trading Software
Very little information was found on Future Bots Trade’s website regarding the software used. This is a big scam alert as trading software is the second most important factor considered when forex trading is in question.
Not only has it been kept secret from the public, but it’s also been held from the actual clients who haven’t verified their IDs.
So far, on their website, we’ve found that Future Bots Trade’s trading software is the easiest to use and is available on most platforms.
Available Trading Instrument at Future Bots Trade
On Future Bots Trade’s site it is stated that their clients can trade with:
Besides the description, each broker states that they offer around-the-clock assistance and low risk, which would be encouraging if it weren’t coming from this unregulated scam broker.
Deposit and Withdrawal Methods
Future Bots Trade’s minimum deposit is $500 and the only available payment methods are crypto, Bitcoin, or ETH.
According to the website, profit withdrawal is possible after the investment plan elapses, but in reality, the invested assets would be gone as soon as deposited. And let’s not forget huge withdrawal fees.
This bogus broker is prone to sharing misinformation and withholding important information, so it definitely shouldn’t be trusted.
Highly Recognized Trading Brokers
Deposit protection, transparency as well as dispute resolution represent some of the reasons why you should choose a regulated broker.
Check out below our list of recommended trading brokers:
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$25||OctaFX.Com|
|FP MarketsBroker||Australia, Cyprus||4.7||$100 AUD||FpMarkets.Com|
|XM Broker||Cyprus, Australia, Belize||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, UAE, South Africa, Kenya||4.3||$5||Hfm.Com|
|FBS Broker||Belize, Cyprus||4.85||$1||FBS.Com|
Future Bots Trade Summary
Future Bots Trade claims to be safe and regulated by the US regulatory authority.
The fact that there are no legal documents available online, as well as having cryptocurrencies as the only payment method, and not presenting their trading software should make you wonder whether this broker is the right fit for you.
Regulated brokers offer realistic leverage of up to 1:50 in order to minimize loss since regulatory bodies worldwide have put a cap in their jurisdictions.
Scammed by this broker, Act fast. We can assist you in reporting your scammer, and getting your money back is possible.
FAQs About Future Bots Trade Broker
Is My Money Safe with Future Bots Trade?
There are no actual withdrawal guarantees, especially since cryptocurrencies are the only payment method.
When Is Future Bots Trade Founded?
The only date found on Future Bots Trade’s website was the licensing date which allegedly took place in 2010.
How Long Do Future Bots Trade Withdrawals Take?
Withdrawing funds up to 5 business days, according to their website.