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FXTRADE

Operating status: SCAM

Website: https://fxtrad.live/

Broker violations and abnormal records
  • Oct 31, 2022 BrokersView has Reviewed that FXTRADE is an Unregulated Forex Broker

    FXTRADE claims the company was started in 2013. But when we searched its domain, we found it was created on 20th April 2022. So how could it start its business in 2013? It is a red flag here.

    Besides, FXTRADE claims to be a brand operated by Royal Forex Ltd, a Cypriot investment company regulated by CySEC. Commission (CySEC) under the License Number: 269/13. We indeed found a match result to Royal Forex Ltd in CySEC, but the license number of this company is 269/15 and the approved domains of this company are "www.royalforex.com; www.ROInvesting.com." That means FXTRADE has no connection with Royal Forex Ltd since the former's domain is not included in the approved domains. 

    What's more, the company "Royal Forex Ltd" now is under examination for voluntary renunciation of the authorization. That means even Royal Forex Ltd is no longer under valid regulation.

    The truth is, FXTRADE is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    FXTRADE claims the company was started in 2013. But when we searched its domain, we found it was created on 20th April 2022. So how could it start its business in 2013? It is a red flag here.Besides, FXTRADE claims to be a brand operated by Royal Forex Ltd, a Cypriot investment company regulated by CySEC. Commission (CySEC) under the License Number: 269/13. We indeed found a match result to Royal Forex Ltd in CySEC, but the license number of this company is 269/15 and the approved domains of this company are "www.royalforex.com; www.ROInvesting.com." That means FXTRADE has no connection with Royal Forex Ltd since the former's domain is not included in the approved domains. What's more, the company "Royal Forex Ltd" now is under examination for voluntary renunciation of the authorization. That means even Royal Forex Ltd is no longer under valid regulation.The truth is, FXTRADE is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. 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.