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FxForTrade

Operating status: SCAM

Website: https://fxfortrade.com/

Broker violations and abnormal records
  • Nov 23, 2022 The UK FCA Warns that FxForTrade is a Clone Firm

    On 24 Nov 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that FxForTrade was a clone firm. The fraudster was using the details of firms UK FCA authorise to try to convince people that it works for a genuine, authorised firm. You may visit: https://www.fca.org.uk/news/warnings/fxfortrade-ltd-clone-fca-authorised-firm

    On 24 Nov 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that FxForTrade was a clone firm. The fraudster was using the details of firms UK FCA authorise to try to convince people that it works for a genuine, authorised firm. You may visit: https://www.fca.org.uk/news/warnings/fxfortrade-ltd-clone-fca-authorised-firm
  • Nov 24, 2022 BrokersView has Reviewed that FxForTrade is an Unregulated Forex Broker

    FxForTrade claims to be a licensed broker under miltiple regulations, including: 

     1) the United Kingdom Financial Conduct Authority (UK FCA); 

     2) the Investment Industry Regulatory Organization of Canada (IIROC);

     3) the Canadian Investor Protection Fund (CIPF); 

     4) Australian Securities & Investment Commission (ASIC);

     5) Cyprus Securities and Exchange Commission (CySEC); 

     6) the National Bank of the Republic of Belarus (NBRB); 

     7) the Mauritius Financial Services Commission (Mauritius FSC). 

    After the investigation, we did not found any matching results in IIROC, ASIC, CySEC, or Mauritius FSC. (NBRB's website is inaccessible currently). That means the broker is not regulated by them. And the CIPF is not a forex regulator. 

    What's more, FCA warned that FxForTrade was a clone firm. The fraudster was using the details of firms UK FCA authorise to try to convince people that it works for a genuine, authorised firm.

    The truth is that FxForTrade is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

    FxForTrade claims to be a licensed broker under miltiple regulations, including: 1) the United Kingdom Financial Conduct Authority (UK FCA); 2) the Investment Industry Regulatory Organization of Canada (IIROC); 3) the Canadian Investor Protection Fund (CIPF); 4) Australian Securities & Investment Commission (ASIC); 5) Cyprus Securities and Exchange Commission (CySEC); 6) the National Bank of the Republic of Belarus (NBRB); 7) the Mauritius Financial Services Commission (Mauritius FSC). After the investigation, we did not found any matching results in IIROC, ASIC, CySEC, or Mauritius FSC. (NBRB's website is inaccessible currently). That means the broker is not regulated by them. And the CIPF is not a forex regulator. What's more, FCA warned that FxForTrade was a clone firm. The fraudster was using the details of firms UK FCA authorise to try to convince people that it works for a genuine, authorised firm.The truth is that FxForTrade is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is 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:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.