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Element Trade MT5

Operating status: SCAM

Website: https://elementrader.com/index.html

Broker violations and abnormal records
  • Apr 22, 2023 BrokersView has reviewed that Element Trade MT5 is an unregulated broker

    Element Trade MT5 claims to be operated by Element Trade Ltd. under various regulations, including the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Japan Financial Services Agency (Japan FSA), and the Central Bank of Ireland (CBI). However, our search for this company in the above-mentioned regulators' registries didn't yield any results. This means that it is using false information to deceive unsuspecting investors. In addition, Element Trade MT5 also claims to have an NFA ID of 0555592. We did find matching records on National Futures Association (NFA) website but data shows that it is not an NFA-member and thus not subject to this regulator's oversight.

    In essence, Element Trade MT5 is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    Element Trade MT5 claims to be operated by Element Trade Ltd. under various regulations, including the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Japan Financial Services Agency (Japan FSA), and the Central Bank of Ireland (CBI). However, our search for this company in the above-mentioned regulators' registries didn't yield any results. This means that it is using false information to deceive unsuspecting investors. In addition, Element Trade MT5 also claims to have an NFA ID of 0555592. We did find matching records on National Futures Association (NFA) website but data shows that it is not an NFA-member and thus not subject to this regulator's oversight.In essence, Element Trade MT5 is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer:

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