FCT Information Revealed

Overview of FCT

FCT, also known as First Class Trade Limited, is a financial service corporation based in Auckland, New Zealand, with a history of 5-10 years. However, its current regulatory status is revoked, and the company lacks valid regulation. Potential clients should exercise caution due to associated risks. FCT offers various market instruments, including stocks and shares, Forex, commodities, indices, cryptocurrencies, bonds, and derivatives. Traders can speculate on price movements but should be aware of the inherent risks, especially in the volatile cryptocurrency market. The broker provides different account types with varying deposit requirements and trading conditions, along with two main trading platforms: Meta Trader 5 and Meta Trader 4. Negative reviews about FCT warn of withdrawal issues and potential fraudulent practices, urging users to stay away from the broker. Caution is advised when dealing with this company.

Pros and Cons

FCT, or First Class Trade Limited, offers diverse market instruments and different account types, allowing leveraged trading with up to 1:100 leverage. The brokerage provides reliable trading platforms, a simple deposit/withdrawal process, and an Islamic Account option. However, caution is advised due to its revoked regulatory status and lack of valid regulation, negative reviews citing withdrawal issues and fraudulent practices, and limited customer support options. Additionally, key contact information is unavailable, and specific details on account benefits and trading costs are scarce. The VIP account requires a high minimum deposit of $100,000.

Is FCT Legit？

The Financial Service Corporate, FIRST CLASS TRADE LIMITED, based in Auckland, New Zealand, is currently operating with a revoked regulatory status. Its license, number 524286, was effective from November 27, 2016. The company's website, email address, and phone number are not available. Moreover, it has been verified that the broker currently lacks valid regulation, and the regulatory status is abnormal. As a result, potential clients should exercise caution due to the associated risks. The business scope of FIRST CLASS TRADE LIMITED exceeds the regulation of New Zealand's Financial Service Providers Register Non-Forex License, making it even more imperative to be wary of engaging with the institution.

Market Instruments

STOCKS AND SHARES

FIRST CLASS TRADE LIMITED offers various market instruments, including stocks and shares. These instruments represent ownership in publicly-traded companies and entitle the holders to a portion of the company's profits. Examples of stocks and shares offered by FCT could include shares of well-known companies like Apple Inc., Microsoft Corporation, or Coca-Cola Company. Additionally, they may provide access to stocks of emerging companies in different sectors and industries.

FOREX (CURRENCY TRADING)

FCT also provides Forex trading instruments, allowing clients to trade currency pairs from various countries. Forex trading involves the buying and selling of currencies in the foreign exchange market. Currency pairs like EUR/USD, GBP/JPY, and USD/JPY are commonly traded examples in the Forex market through FCT.

COMMODITIES

Market instruments at FCT encompass commodities trading, where clients can invest in various physical goods and raw materials. Examples of commodities include gold, silver, crude oil, and agricultural products like wheat or coffee. Traders can speculate on price movements.

INDICES

FCT offers trading instruments based on indices, which represent a group of stocks or assets from a specific market or sector. Examples include the S&P 500 index, which comprises 500 large-cap U.S. stocks, or the FTSE 100 index, representing the largest companies listed on the London Stock Exchange. Traders can gain exposure to broad market movements through index trading.

CRYPTO CURRENCIES

Cryptocurrencies have become increasingly popular as market instruments, and FCT may provide access to trading in digital currencies like Bitcoin, Ethereum, or Ripple. Cryptocurrencies operate on decentralized blockchain technology and offer traders potential opportunities for high volatility and speculative gains. It's important to note the inherent risks associated with the crypto market, given its volatility and regulatory uncertainties.

BONDS

FCT may offer market instruments in the form of bonds, which are debt securities issued by governments, corporations, or other entities. Bondholders lend money to the issuer in exchange for periodic interest payments and the return of the principal amount at maturity. Examples could include government bonds like U.S. Treasury bonds, corporate bonds from well-known companies, or municipal bonds issued by local governments.

DERIVATIVES

Market instruments at FCT might encompass derivatives, such as futures and options. Derivatives derive their value from an underlying asset, and traders can speculate on price movements without owning the asset itself. For instance, futures contracts may involve commodities like corn or crude oil, while options contracts could relate to stocks or currency pairs. Derivatives can serve as risk management tools or opportunities for speculative trading.

Account Types

1. STANDARD ACCOUNT: The Standard Account offered by FCT is a basic account option with standard trading conditions. It provides access to various financial instruments and requires a minimum initial deposit of $500.

2. GOLD ACCOUNT: FCT's Gold Account is designed for traders with a higher risk appetite and greater capital. To open a Gold Account, a minimum deposit of $5,000 is required.

3. PLATINUM ACCOUNT: The Platinum Account is targeted at more seasoned and financially well-equipped traders. It demands a minimum deposit of $25,000.

4. VIP ACCOUNT: FCT's VIP Account is the most exclusive option, tailored for high-net-worth individuals and institutional clients. The minimum deposit requirement for this account type is set at $100,000. VIP clients receive personalized services, including priority customer support and special trading conditions, to cater to their specific needs and demands.

5. ISLAMIC ACCOUNT: FCT also offers an Islamic Account, adhering to Shariah principles. This account type is available to Muslim traders who seek interest-free trading. The Islamic Account shares similar features with the Standard Account but ensures compliance with Islamic financial regulations.

6. DEMO ACCOUNT: For traders looking to test FCT's trading platform and strategies without real money risk, the Demo Account is available. It provides virtual funds and replicates real market conditions.

Leverage

FIRST CLASS TRADE LIMITED offers a leverage of up to 1:100 for all account types.

Spreads & Commissions

FIRST CLASS TRADE LIMITED charges a maker fee of 0.05% and a taker fee of 0.07%. The minimum spread is 0.1 pips and the maximum spread is 2 pips. There is no commission charged for trading cryptocurrencies.

Minimum Deposit

The minimum deposit required by FCT is $500.

Deposit & Withdrawal

FCT offers a simple and straightforward deposit and withdrawal process for its clients. The minimum deposit amount is set at $200. Clients can fund their accounts using various methods, including bank wire transfers and major credit cards. Clients can request withdrawals with a minimum amount of $100.

Trading Platforms

FCT offers two main trading platforms: Meta Trader 5 and Meta Trader 4. The Meta Trader 5 platform is provided with a full license and is highly regarded for its functionality It caters to various trading needs and is considered an ideal choice for traders seeking a comprehensive trading experience. On the other hand, the Meta Trader 4 platform is also available with a full license. Although less advanced compared to Meta Trader 5, it remains a popular and reliable choice for traders looking for a straightforward trading solution.

Customer Support

FCT provides customer support primarily through email communication at info_cn@fctnzl.com.

Reviews

Negative reviews on WikiFX about FCT warn potential users of withdrawal issues and fraudulent practices. The broker's representatives allegedly misled users by pretending to be romantically involved to encourage them to deposit funds, but users faced difficulties in withdrawing their money. Caution is advised, and users are advised to stay away from the broker. (Review date: 2021-03-15)

Conclusion

In conclusion, First Class Trade Limited (FCT) is a financial service company based in Auckland, New Zealand, operating with a revoked regulatory status. The company offers various market instruments, including stocks, forex, commodities, indices, cryptocurrencies, bonds, and derivatives. FCT provides multiple account types, ranging from Standard to VIP and Islamic accounts, with varying minimum deposit requirements and trading conditions. The trading platforms offered are Meta Trader 5 and Meta Trader 4, known for their functionality and user-friendliness. However, caution is advised due to negative reviews mentioning withdrawal issues and potential fraudulent practices. Prospective clients should be wary of the associated risks given the company's current regulatory status and the absence of its main website and contact information.

FAQs

Q: Is FCT a legitimate company？

A: FCT, or FIRST CLASS TRADE LIMITED, is currently operating with a revoked regulatory status in New Zealand. Its license was effective from November 27, 2016, but it lacks valid regulation now. Potential clients should exercise caution due to associated risks.

Q: What market instruments does FCT offer？

A: FCT offers a range of market instruments, including stocks and shares, Forex (currency trading), commodities, indices, cryptocurrencies, bonds, and derivatives.

Q: What are the account types available at FCT？

A: FCT provides Standard, Gold, Platinum, VIP, Islamic, and Demo accounts to cater to different trading preferences and risk appetites.

Q: What is the leverage offered by FCT？

A: FCT offers a leverage of up to 1:100 for all account types.

Q: What are the minimum deposit requirements for FCT？

A: The minimum deposit required by FCT is $500 for most accounts and $200 for certain deposit methods.

Q: What trading platforms does FCT offer？

A: FCT provides two main trading platforms: Meta Trader 5 and Meta Trader 4.

Q: How can I contact FCT's customer support？

A: Customer support at FCT can be reached primarily through email communication at info_cn@fctnzl.com.

Q: Are there any negative reviews about FCT？

A: Negative reviews on WikiFX mention withdrawal issues and alleged fraudulent practices, cautioning users to be wary of the broker.

Q: Should I be cautious when dealing with FCT？

A: Yes, due to its revoked regulatory status and negative reviews, caution is advised when considering FCT as a trading partner.